Global Contact Probe Market - 2022-2029

Global Contact Probe Market - 2022-2029

Market Overview

The global contact probe market was valued at US$ XX billion in 2021; it is projected to reach US$ XX billion by 2029, with growth at a CAGR of 3.7% over the forecast period 2022-2029.

A contact probe is a testing instrument that can be fit into an assembly line of the electronic devices manufacturing industries for testing semiconductors, electronics and electrical devices. The equipment helps to reduce the labor cost, time and manual efforts involved in the semiconductor manufacturing process by ensuring the high quality of the devices.

Market Dynamics

Growing demand for consumer electronic products is a major driver for the global contact probe market:

Contact probes are used in the electronic industry for testing and effective connection abilities. Security electronic products, portable personal devices such as laptops, tablets, smartphones, medical electronics and wearable electronics are some common products tested using contact probes. The growing demand for consumer electronic products is a key driver for the global market during the forecast period.

Design and technical limitations are expected to restrain the global contact probe market:

During the forecast period, design and technical limitations are expected to prevent the growth of the global contact probe market. The applications for contact probes have become more demanding and intricate in recent years; however, the basic design of contact probes hasn't changed to cater to the growing demands of applications. The technical limitations hinder the use of contact probes for various upcoming applications.

The development of new tech products is expected to generate new opportunities for the global contact probe market:

Because of the growth of 5G communication, electric vehicles and industry 4.0, miniaturized and chipped connectors are in great demand, which is important for connectivity purposes. Contact probes are essential for the testing of miniaturized and chipped connectors. Therefore new tech developments present major opportunities for the global contact probe market.

The lack of a skilled workforce is expected to present challenges for the global contact probe market:

Installing and operating contact probes requires a skilled workforce possessing advanced technical skills and education. There is an increasing shortage of qualified and experienced personnel required to carry out complex operations for contact probes according to the demands of various applications. It presents a major challenge to the growth of the global market.

COVID-19 Impact Analysis

The COVID-19 pandemic has adversely affected the market of contact probes due to supply chain disruption, difficulty in raw material procurement, availability of human resources, lockdown in various countries, as well as an adverse effect and low demand in end-user industries such as semiconductors, PCB industry, smartphone industry, consumer electronics and industrial sector. Though the full impact of COVID-19 is still unpredictable, the impact throughout the electronics value chain, from materials to final products, is expressing itself in terms of shortage of product availability, high pricing, inflation and raw material procurement disturbance. The pandemic is not expected to impact the long-term growth of the global contact probe market.

Recent Developments in the Industry:

In August 2022, Innoviz Technologies Ltd, a developer of LIDAR-based contact sensors, won a US$ 4 Billion contract from the Volkswagen Group to supply contact sensors for up to 8 million cars.

Quanergy Systems, Inc, a U.S.-based contact prober developer, announced in August 2022 that the company's M-Series contact sensors were successfully deployed at Nanjing Port, China.

Market Segmentation

The scope of the report covers segmentation based on product, transmission, component, technology, machine, end-user and region. The global contact probe market is segmented by product into 3D touch probes, 2D touch probes, tool length probes, tool touch-off probes, short travel probes, double plunger probes, interface probes, fine pitch probes, coaxial probes, radio frequency probes, threaded probes, wire harness probes, step probes, switch probes, twist-proof probes, pushback probes and others. The global contact probe market is segmented by transmission into infrared, radio and hardwired. The global contact probe market is segmented by component into hardware and software. The global contact probe market is segmented by technology into automated, semi-automated and manual. The global contact probe market is segmented by machine into CNC machining centers, CNC turning centers, ICT/FCT probes and others. The global contact probe market is segmented by end-user into automotive, aerospace and defense, electronics, general machining, healthcare, chemicals and petrochemicals, oil and gas, IT and telecom and others. The global contact probe market is segmented by region into North America, South America, Europe, Asia-Pacific, Middle East and Africa.

Infrared: Infrared probes are touch triggered, requiring a single touch to perform any action. When the stylus comes close to a workpiece surface, it deflects and sends an infrared trigger signal to the receiver. Interference-free signal transmission between the probe and receiver is vital for process-reliable measuring on machine tools.

Radio: The radio contact probe has made it possible to check that the profile of a newly machined part is correct and detect any surface defects directly in the machine environment by simply performing profile and surface contact scans on the newly worked parts. The system transmits the data to a receiving device using a radio transmission system. The data are collected, analyzed and displayed by software over the monitor screen.

Hard Wired: Hard-wired probe offers the user to detect the position of the machine automatically and can achieve part positioning and accurate part measurement coupled with ensuring robustness and reliability even in the harshest working environments.

Regional Classification:

According to the DataM Intelligence market research report, the global Contact probe market is divided into North America, South America, Europe, Asia-Pacific, Middle East and Africa.

In recent years, there has been a significant demand for newer and faster electronic products due to the rapid pace of innovation, technological advancement and R&D activities in the electronics industry. There is a significant increase in the number of manufacturing plants and development centers in North America, primarily due to the focus on developing high-end products. The ongoing transition to 5G and the adoption of emerging technologies such as IoT is expected to boost the growth of the North American contact probe market.

Germany, one of the leading manufacturing bases for the automotive industry, is home to manufacturers from different segments, such as equipment manufacturers, material and component suppliers, engine producers and whole system integrators. Contact probes are also in demand in other major countries, such as France and UK, due to growing requirements from specialized industries such as aerospace components. The expanding demand for contact probes from various industries will drive the growth of the European contact probe market.

Countries such as China, India and South Korea are estimated to grow faster as they are considered a hub of the manufacturing industry based on low manufacturing costs and the presence of huge low-cost labor. Asia-Pacific has the world's largest electronics production base. Electronic products, such as smartphones, TVs, wires, cables, portable computing devices, gaming systems and other personal electronic devices, are produced in the region. It serves the domestic demand for electronics and exports electronic production to other countries. The expansion of the consumer electronics industry will be the major factor in driving the growth of the Asia-Pacific contact probe market.

Competitive Analysis:

The global contact probe market is highly competitive, with the presence of several international and local players. Companies are entering into collaborations, acquisitions, mergers and licensing to increase their market penetration.

Major Companies:

Some key companies contributing to the global contact probe market growth include FEINMETALL GmbH, Renishaw plc., Carl Zeiss AG, Hexagon AB, METROL Co., Ltd., Tormach Inc., AIKOSHA Co., Ltd., Marposs S.p.A., Blum-Novotest GmbH, Mahr GmbH, DR. JOHANNES HEIDENHAIN GmbH, CENTROID Corporation and Quality Vision International, among others.

The Full Report has the below insights.

The report offers a comprehensive evaluation of the market in terms of Market Value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2020-2021) and verifiable projections about market size during the forecast period (2022-2029).

Visualize the composition of the global Contact probe market segmentation by product, transmission, component, technology, machine, end-user and region, highlighting the key commercial assets and players.

By Product: 3D Touch Probes, 2D Touch Probes, Tool Length Probes, Tool Touch-Off Probes, Short Travel Probes, Double Plunger Probes, Interface Probes, Fine Pitch Probes, Coaxial Probes, Radio Frequency Probes, Threaded Probes, Wire Harness Probes, Step Probes, Switch Probes, Twist Proof Probes, Pushback Probes and Others

By Transmission: Infrared, Radio and Hardwired

By Component: Hardware and Software

By Machine: CNC Machining Center, CNC Turning Center, ICT/FCT Probes and Others

By End-User: Automotive, Aerospace and Defense, Electronics, General Machining, Healthcare, Chemicals And Petrochemicals, Oil And Gas, IT and Telecom and Others

By Region: North America, South America, Europe, Asia-Pacific, Middle East and Africa

Identify commercial opportunities in the global Contact probe market by analyzing trends and co-development deals.

The report also covers data insights on various industry forces such as porter's five forces, regulations in each country, reimbursement scenario, technological advancements, PEST analytics and pricing analytics.

Excel data sheet with thousands of global contact probe market-level 4/5 segmentation data points.

PDF report with the most relevant analytics cogently put together after exhaustive qualitative interviews and in-depth market study.

Product mapping in excel for the key product of all major market players

The global contact probe market report would provide access to an approx. 85 market data table, 104 figures and 208 pages.