The failure analysis market size was around USD 7.6 Billion in 2020 and is projected to expand at a CAGR of 7.5% during the forecast period, 2021-2028. The growth of the market is attributed to increasing investment of companies in R&D activities. Moreover, increasing requirement of solutions to reduce the operational costs is driving the market growth.
Failure analysis is the procedure in which a failed product is investigated/examined to determine the cause of failure. There are several methods to analyze the failure. For instance, failure modes and effects analysis (FMEA), Ishikawa “fishbone” diagrams, and fault-tree analysis (FTA) are some of the widely used failure analysis methods.
Companies are investing in technologies to improve the next version of the product by performing in-depth failure analysis. Critical information about the design process, manufacturing processes, material properties, or actual service conditions can be determined through failure analysis.
Market Drivers, Restraints, Trends, and Opportunities
- Increased awareness among the people regarding the quality of product or solutions being offered to them is enabling organizations to implement failure analysis, which is expected to propel the market growth
- High cost of implementation and high maintenance cost of the equipment can restrain the market growth.
- The presence of software tools that provide in-depth failure can create challenges for the growth of the market.
- Increasing technological advancements is anticipated to create lucrative opportunities for industry players in the projected timeline.
Scope of the Report
The report on the failure analysis market includes an assessment of the market, trends, segments and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Failure Analysis Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021 - 2026
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Segmentation
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Technologies (Secondary ION Mass Spectrometry (SIMS), Chemical Mechanical Planarization (CMP), Energy Dispersive X-ray Spectroscopy (EDX)), Equipment (Scanning Electron Microscope (SEM), Focused ION Beam (FIB) Systems, Transmission Electron Microscope (TEM), and Dual Beam Systems), and End-user Verticals (Automotive, Oil and Gas, Defense)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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IBM Corporation (IBM Global Services), Exponent Inc., TEC Materials Testing, EAG Inc., and Rood Microtec GmbH
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Market Segment Insights
Chemical mechanical planarization (CMP) segment to account a significant market share
Based on technologies, the market is segmented into secondary ion mass spectrometry (SIMS), chemical mechanical planarization (CMP), and energy dispersive X-ray spectroscopy (EDX). The chemical mechanical planarization (CMP) segment is projected to account for a significant market share during the forecast period owing to the increasing use of this process in the semiconductor industry is driving the segment growth.
Focused ion beam (FIB) systems segment to exhibit a robust CAGR
On the basis of equipment, the market is divided as scanning electron microscope (SEM), focused ion beam (FIB) systems, transmission electron microscope (TEM), and dual beam systems. The focused ion beam (FIB) Systems is expected to expand at a high CAGR during the forecast period. Growing adoption of FIB systems in material science and bioscience applications is driving the segment growth. Additionally, FIBs can now be used for microstructural analysis and prototyping nanomachining along with circuit editing and transmission electron microscopy (TEM) sample preparation.
Automotive segment to dominate the market
In terms of end-user verticals, the market is segregated into automotive, oil and gas, and defense. The automotive segment is anticipated to dominate the market owing to the increasing production of passenger and luxury cars.
The automotive industry is constantly faces new challenges as the demand for inexpensive and high-quality components is increasing across the globe. Failure analysis in automobiles is done to establish the cause of an accident, wherein analysis is employed to see which component in the automotive caused the accident.
The market in North America to expand at a healthy rate
Based on regions, the failure analysis market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America accounted for a large market share during the forecast period. In the region, the US is one of the early adopters of failure analysis techniques. The country is home to a majority of the major automotive companies such as General Motors and Ford.
Segments
Segments Covered in the Report
The global failure analysis market has been segmented on the basis of
Technologies
- Secondary ION Mass Spectrometry (SIMS)
- Chemical Mechanical Planarization (CMP)
- Energy Dispersive X-ray Spectroscopy (EDX)
Equipment
- Scanning Electron Microscope (SEM)
- Focused ION Beam (FIB) Systems
- Transmission Electron Microscope (TEM)
- Dual Beam Systems
End-user Verticals
- Automotive
- Oil and Gas
- Defense
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key players
- IBM Corporation (IBM Global Services)
- Exponent Inc.
- TEC Materials Testing
- EAG Inc.
- Rood Microtec GmbH
Competitive Landscape
Some of the major players in the market are IBM Corporation (IBM Global Services), Exponent Inc., TEC Materials Testing, EAG Inc., Rood Microtec GmbH.
These major players are focusing on expanding their operations by engaging in partnerships, acquisitions, and mergers. Moreover, they’re heavily investing in R&D activities to expand their market share.
