According to the research report, the global surface mount technology market was valued at USD 4.88 billion in 2023 and is expected to reach USD 10.00 billion by 2032, to grow at a CAGR of 8.30% during the forecast period.
Market Overview:
Surface Mount Technology (SMT) is a method for producing electronic circuits in which components are mounted directly onto the surface of printed circuit boards (PCBs). SMT has become the industry standard for manufacturing electronic devices, offering numerous advantages such as reduced size, increased component density, and improved performance compared to traditional through-hole technology.
The SMT market caters to a wide range of applications, including consumer electronics, automotive, telecommunications, healthcare, and industrial equipment. The technology’s ability to support miniaturization and high-speed manufacturing processes makes it indispensable in modern electronics production. As the demand for compact, lightweight, and high-performance devices continues to grow, the adoption of SMT is accelerating across various industries.
Market’s Growth Drivers:
- Rising Demand for Miniaturized Electronic Devices
The growing consumer preference for compact and lightweight electronic devices is driving the adoption of SMT. Its ability to accommodate smaller components and densely packed circuits makes it ideal for modern devices like smartphones, wearables, and IoT gadgets. - Growth of the Automotive Industry
The automotive sector is increasingly integrating advanced electronic systems, such as ADAS (Advanced Driver Assistance Systems), infotainment, and EV power management systems. SMT enables the production of these complex and compact electronics, supporting the industry’s growth. - Expansion of 5G Technology
The global rollout of 5G networks has boosted the demand for high-performance telecommunication equipment. SMT plays a crucial role in manufacturing compact and efficient PCBs required for 5G infrastructure and devices. - Increasing Adoption of IoT Devices
The proliferation of IoT devices across industries such as healthcare, agriculture, and industrial automation is driving the need for efficient and cost-effective PCB manufacturing processes, which SMT provides.
𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
Competitive Insight:
- ASM Pacific Technology
- Seika Corporation
- Panasonic
- Nordson Corporation
- Cognex Corporation
- Fuji Machine Manufacturing
- Teradyne
- Mycronic
- Kulicke & Soffa Industries
- Neoden SMT.
Recent Developments in the Surface Mount Technology Market:
- Keystone Technologies Launches Ultra-Thin Surface Mounting Threads (October 2022)
In October 2022, Keystone Technologies unveiled its new ultra-thin surface mounting threads, now available in both metric and inch variants. This development expands the company’s product portfolio, catering to a broader range of applications and meeting diverse industry requirements for precision and versatility in mounting solutions.
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:
The Surface Mount Technology Market segmentation divides the market into several segments. The industry segmentation is primarily based on product type, application, end-use, and geographic factors. Besides, the research study covers several sub-segments of the market. An in-depth examination of each market segment and sub-segment has been provided, covering the industry size, growth prospects, industry drivers, and challenges. The detailed market segmentation helps stakeholders identify the diverse needs of different consumer groups in the market. Also, it pinpoints opportunities for targeted marketing and product development strategies.
Surface Mount Service Market, Equipment Outlook (Revenue – USD Billion, 2019-2032)
- Inspection Equipment
- Placement Equipment
- Soldering Equipment
- Screen Printing Equipment
- Cleaning Equipment
- Repair & Rework Equipment
Surface Mount Service Market, Application Outlook (Revenue – USD Billion, 2019-2032)
- Consumer Electronics
- Mobile Phones
- Personal Computers
- Home Appliances (TV, Refrigerators, Washing Machine, AC, Others)
- Audio and Video Systems
- Storage Devices
- Others
- IT & telecommunication
- Telecom Equipment
- Networking Devices
- Automotive
- Driver Assistance Systems
- Infotainment Systems
- Others
- Industrial
- Industrial Automation and Motion Control
- Mechatronics and Robotics
- Power Electronics
- Photovoltaic Systems
- Others
- Aerospace & Defense
- Aircraft Systems
- Military Radars
- Others
- Healthcare
- Medical Imaging Equipment
- Consumer Medical Devices
- Others
- Others
Surface Mount Service Market, Service Outlook (Revenue – USD Billion, 2019-2032)
- Designing
- Test & Prototyping
- Supply Chain Services
- Manufacturing
- Aftermarket Services
The surface mount technology market is poised for robust growth, driven by advancements in electronics manufacturing, the rise of smart technologies, and increasing demand for miniaturized and high-performance devices. As innovation continues to reshape the electronics landscape, SMT will remain a cornerstone of modern production, enabling efficient and scalable manufacturing solutions.
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