Failure Analysis Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Failure Analysis Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global failure analysis market size reached US$ 4.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.1 Billion by 2028, exhibiting a growth rate (CAGR) of 8.3% during 2022-2028. Increasing demand for failure analysis services across various industries, rising awareness about the cost-saving potential of failure analysis, and the emergence of new failure analysis techniques and equipment represent some of the key factors driving the market.



Failure analysis is a critical process used to investigate and determine the root cause of failures in various systems, components, and materials. It is a multidisciplinary approach that involves the use of analytical techniques, testing, and evaluation to identify the cause of failure and provide recommendations for remediation. The components of failure analysis include documentation and analysis of the failure event, sample collection and testing, and the determination of the failure mode and root cause. Failure analysis helps to improve product design, enhance safety, and reduce downtime and maintenance costs. Currently, there are a wide variety of product variants, including mechanical failure analysis, electrical failure analysis, and material failure analysis. Mechanical failure analysis involves the investigation of failures in mechanical systems, while electrical failure analysis focuses on electrical and electronic systems. Material failure analysis, on the other hand, is used to investigate failures in materials such as metals, polymers, and composites.



Failure Analysis Market Trends:

The increasing demand for failure analysis services across various industries, such as automotive, electronics, aerospace, and healthcare, represents one of the primary factors creating a positive outlook for the market. Additionally, governments of various nations are implementing stringent regulations and quality standards that mandate failure analysis to ensure product reliability, safety, and compliance, which is fueling the market growth. Moreover, the rising awareness about the cost-saving potential of failure analysis in terms of preventing future failures and minimizing downtime is propelling the market growth. Apart from this, the emergence of new failure analysis techniques and equipment, including advanced microscopy, spectroscopy, and imaging technologies, and the growing emphasis on preventive maintenance and quality control practices in industries are boosting the market growth. Other factors, such as the increasing adoption of failure analysis outsourcing, the rapid growth of the semiconductor industry, the need for failure analysis in forensic investigations, and the burgeoning investments in infrastructure development, are providing a considerable thrust to the market growth.



Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global failure analysis market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on equipment, technology and end use industry.



Equipment Insights:



Scanning Electron Microscope (SEM)

Focused Ion Beam (FIB) System

Transmission Electron Microscope (TEM)

Dual Beam System

Others



The report has provided a detailed breakup and analysis of the global failure analysis market based on the equipment. This includes scanning electron microscope (SEM), focused ion beam (FIB) system, transmission electron microscope (TEM), dual beam system, and others. According to the report, the focused ion beam (FIB) system segment dominates the market.



Technology Insights:



Energy Dispersive X-Ray Spectroscopy (EDX)

Secondary Ion Mass Spectrometry (SIMS)

Focused Ion Beam (FIB)

Broad Ion Milling (BIM)

Relative Ion Etching (RIE)

Scanning Probe Microscopy (SPM)

Others



The report has provided a detailed breakup and analysis of the global failure analysis market based on technology. This includes energy dispersive X-ray spectroscopy (EDX), secondary ion mass spectrometry (SIMS), focused ion beam (FIB), broad ion milling (BIM), relative ion etching (RIE), scanning probe microscopy (SPM), and others. According to the report, the secondary ion mass spectrometry (SIMS)segment holds the largest market share.



End Use Insights:



Automotive

Oil and Gas

Defense

Construction

Manufacturing

Others



The report has provided a detailed breakup and analysis of the global failure analysis market based on the end use. This includes automotive, oil and gas, defense, construction, manufacturing, and others. According to the report, the automotive segment spearheads the market.



Regional Insights:



North America

United States

Canada

Asia Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa



The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. As per the report, North America dominates the market. Some of the factors accelerating the North America failure analysis market include the increasing demand for failure analysis services across a range of industries, including aerospace, automotive, electronics, and medical devices, growing emphasis on safety and reliability, and the development of advanced technologies and techniques for failure analysis.



Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global tattoo removal market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include A&D Company Ltd., Bruker Corporation, Carl Zeiss AG (Carl-Zeiss-Stiftung), Hitachi High-Technologies Corporation (Hitachi Ltd.), Horiba Ltd., Intertek Group PLC, JEOL Ltd., Motion X Corporation, Tescan Orsay Holding A.S. and Thermo Fisher Scientific Inc., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.



Key Questions Answered in This Report



1. How big is the global failure analysis market?

2. What is the expected growth rate of the global failure analysis market during 2023-2028?

3. What are the key factors driving the global failure analysis market?

4. What has been the impact of COVID-19 on the global failure analysis market?

5. What is the breakup of the global failure analysis market based on the equipment?

6. What is the breakup of the global failure analysis market based on the technology?

7. What is the breakup of the global failure analysis market based on the end use?

8. What are the key regions in the global failure analysis market?

9. Who are the key players/companies in the global failure analysis market?