Curve Tracer Market Trends

Growth Drivers

• Growing Need to Test IoT Devices - The proliferation of smart gadgets and the network of systems that support them by gathering and analyzing data in the background has led to an increase in the number of Internet of Things (IoT) devices in our daily lives. Over 74 billion devices are projected to be connected via IoT by 2025, in the world.  Even with predictions about what IoT might appear such as in the future, testing increasingly sophisticated IoT devices is still necessary today. IoT devices are designed to keep an eye out for particular input conditions in the environment, process variable data locally, act physically depending on the calculated result sometimes, and then securely transfer the resultant data to another device or database in almost real-time. The majority of IoT functional testing begins with low-volume engineering tests or prototypes, where the firmware and software are performed in a virtual setting. To guarantee appropriate performance in the device's real-world application, hardware, and field testing are still essential components of the Quality functional test process. As a result, the utilization of curve tracers is projected to rise.
• Surge in Demand for Automotive- From roughly 66 million automobiles in 2022 to a total of about 74 million in 2023, the total amount of cars sold globally increased. Furthermore, recent automotive manufacturing consists of various electronics installed. The LED brake light, headlamp, and other components are the major components of an automobile's electronics. Every component that goes into an automobile nowadays is an electrical device. Historically, the primary function of automotive electronics has been to regulate the engine. However, the most advanced driving skill is now available to everybody as a result of recent improvements. However, these automotive electronics need to be tested in order to provide efficient output. As a consequence, the curve tracer market is growing.
• Growing Automation of Curve Tracer - Since its origin, artificial intelligence and machine automation have advanced significantly and are currently expanding and changing at an exponential rate. Software testing procedures are currently becoming faster, simpler, and more effective owing to machine learning's wide range of applications in industries including finance and trading stocks. Hence, the integration of AI and automation is also estimated to rise in curve testing. This integration is estimated to reduce the human errors hence further making the testing process efficient and proving accurate result by reducing cost. 

Challenges

• High Cost of Curve Tracer - Advanced curve tracer with sophisticated features usually carries huge cost which makes it difficult for organization especially small business to adopt it. Furthermore, curve tracer also lacks in efficient investment in research & development which further boost the price of product. As a result, these two factors is projected to hinder the expansion of market.
• Surge in Availability of Alternative – There are various alternative options available in the curve tracer market which usually includes multimeter, oscilloscopes and various another component tracer. These alternative tracers are not expensive as curve tracer which is why the preference for them is high. Therefore, this factor is projected to restrain the curve tracer market expansion over the coming years.
• Lack of Precious Efficiency