Acknowledging the prominence and traction, the
market is garnering currently Market Research Future (MRFR) in its recently
published study report asserts that the global Failure Analysis Market will garner exponential
accruals by 2023, registering approximately 8% CAGR throughout the review
period (2017-2023).
Failure Analysis can be defined as the process used
for logical and systematic investigation of equipment or machine or its
documentation to detect and analyse the causes, probabilities, and consequences
of actual or potential failure. The failure analysis market is growing pervasively
mainly due to the proliferation of hand-held electronic devices, creating a
huge demand for semi-conductors. The rising awareness among people regarding
the quality of product or solutions escalates the market growth on the global
platform.
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Additionally, factors such as technological
advancements in failure analysis equipment that are encouraging enterprises to
cut cost in the production by monitoring the nature of the products even before
the product is manufactured foster the market growth.
Moreover, factors such as the advantageous features
of failure analysis like scalability and cost optimization along with the
proliferation of connected devices allow market to grow at large, fetching many
benefits to industries.
Furthermore, factors propelling the market growth
include the increasing industrialization and the improving economic conditions
worldwide.
On the other hand, failure analysis being in its
embryonic stage still presents the challenges such as lack of universally
accepted testing standards while, the initial investment required for the
implementation of failure analysis acts as a headwind that obstructs the market
growth.
Global Failure Analysis Market - Segments
The analysis has been segmented into five key
dynamics for the better scope: -
By Equipment
: Scanning electron microscope (SEM), Transmission Electron Microscopy
(TEM), Focused Ion Beam (FIB), and Dual Beam FIB among others.
By Technology
: SIMS, EDX, CMP, FIB, BIM and RIE.
By Testing
: Material Testing, Non-destructive Testing (NDT), and Physical
Testing.
By Application
: Material Science, Bio Science, Industrial, and Electronics.
By Region
: North America, Europe, APAC and the Rest-of-the-World.
Global Failure Analysis Market - Regional
Analysis
Globally, the North American region accounts for the
leading market for the failure analysis.
Advancements in technologies and market proliferation of portable
electronics devices are expected to support the market growth to retain its
dominance over the global failure analysis market throughout the forecast
period.
Presence of well-established infrastructures along
with the presence of well-established key players in the region acts as a
tailwind that pushes up the growth of the regional market, allowing a favorable
environment for technological developments. The market is estimated to witness
a higher adoption of failure analysis tools owing to the government’s efforts
to push the markets for material testing.
The Asia Pacific region is projected to grow at the
fastest rate during the forecast period, emerging as a promising market for
failure analytics. Factors such as the presence of major semiconductor
industries and the rising adoption of failure analysis solutions to fight out
the risks such as chemical explosion drive the market growth in the region.
Furthermore, the augmenting demand for deployment of
failure analysis technologies alongside the massive demand for the advanced
analytics solutions help increase the market size, facilitating enterprises to
comprehend business scenarios.
Failure Analysis Market – Competitive
Analysis
Highly competitive by nature, the global failure
analysis market appears to be fragmented due to the presence of many players.
Key strategies traced from the analysis of recent developments of the market
players include agreement & partnership, acquisition expansion, and product
launch. These key players strive to deliver comprehensive testing solutions
with adept technology and features. Growth in terms of product innovations and
technologies in the market are also expected to create strong investment
opportunities for the global players.
Key Players:
Fervent players driving the market for the failure
analysis include FEI Company (U.S.), Carl Zeiss SMT GmbH (Germany), JEOL Ltd.
(Japan), Tescan (U.S.), Hitachi High- Technologies (Japan), EAG Inc.
(Luxembourg), Raytheon Company (U.S.), and Intertek Group plc (United Kingdom).
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