Market Size of Failure Analysis Industry
| Study Period | 2018 - 2028 |
| Market Size (2023) | USD 4.82 Billion |
| Market Size (2028) | USD 7.04 Billion |
| CAGR (2023 - 2028) | 7.86 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Failure Analysis Market Analysis
The Failure Analysis Market size is expected to grow from USD 4.82 billion in 2023 to USD 7.04 billion by 2028, at a CAGR of 7.86% during the forecast period (2023-2028).
The increasing requirement for failure analysis among automobile manufacturers, who also employ vision and AI-based analysis tools for performance analysis, dynamic vehicle studies, accident reconstruction, etc., is augmenting the market's growth.
- Failure analysis refers to gathering and analyzing data to determine the cause of failure and corrective actions or liability. It is crucial to understand the root cause of failure to prevent similar incidents in the future. Common causes include assembly error, misuse or abuse, fastener failure, inadequate maintenance, manufacturing defects, low-quality material, improper heat treatments, unforeseen operating conditions, design errors, insufficient quality assurance, inadequate environmental protection, and casting discontinuities.
- Automation across the end-user industries has fueled the development in the market studied. Companies developing batteries for electric vehicles, mobile phones, energy systems, and other systems rely on testing to enhance the output, creating a more efficient, cleaner, and safer energy source. Companies use electron microscopy technologies to understand structures that level down at the atomic scale. They also use spectroscopy tools to discover critical changes in materials that cause defects and inefficiency.
- Several solution providers are innovating to provide effective and advanced failure analysis solutions in the industry. For instance, in February 2021, SGS announced an investment in Secondary ION Mass Spectrometry equipment at its Fujairah laboratory to test marine fuels for various chemical species, suggesting the contamination of the fuel with chemical waste components. One area where failure analysis is used extensively is finding the cause of vehicular accidents. Private and commercial vehicle accidents can result in severe property damage, bodily injury, and even loss of life.
- The outbreak of COVID-19 significantly disrupted the supply chain and production of semiconductors and electronic devices in the initial phase of 2020. For circuits and chipmakers, the impact was more severe. Due to labor shortages, many packages and testing plants in the Asia-Pacific reduced or even suspended their operations. This created a bottleneck for companies that depended on failure analysis of these devices.
