Sarasota, FL -- (SBWIRE) -- 05/12/2017 -- Zion Market Research, the market research group announced the analysis report titled "Surface Mount Technology Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024"

Global Surface Mount Technology Market: Overview

The method through which electronic circuits are manufactured is known as surface mount technology. With the help of the surface mount technology, the component of the electronic circuits is placed on the printed circuit boards (PCBs) surface directly. The electronic device that is generated using the surface mount technology is known as surface mount device. In the recent year, the mass production of the electronic hardware is done by using the surface mount technology.

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Global Surface Mount Technology Market: Segmentation

The surface mount technology market is segmented globally into its equipment, application, and regions. On the basis of equipment, the global market is segregated into inspection equipment, soldering equipment, cleaning equipment, placement equipment, screen printing equipment, and rework, and repair equipment. On the basis of application, the surface mount technology market is categorized into consumer electronics, aerospace & defense, medical, energy & power systems, telecommunication, automotive, and industrial. Geographically, the global market for surface mount technology is diversified into North America, Asia-Pacific, Europe, and Rest of the World.

Global Surface Mount Technology Market: Growth Factors

The major factors that are contributing to the surface mount technology market growth are use of printed circuit boards that are made of flexible materials is increasing, the rise in the growth of the electronic industry, increase in the manufacturing of electronic hardware devices in large quantities, the rise in the trend of miniaturization, and the increasing need of mounting the mechanical and electrical components. Owing to these factors the surface mount technology market is expected to grow significantly in the coming years. The applications where the surface mount technology is in huge demand include consumer appliances, telecommunications, and computing sector. But the applications such as defense, automotive, and medical will contribute more in the global market share. The increasing demand for the high-quality equipment of SMT from the contract and original equipment manufacturers is increasing the demand for surface mount technology in the global market.

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Global Surface Mount Technology Market: Regional Analysis

The region that dominates the surface mount technology market is Asia Pacific. This growth can be attributed to the factor that the electronic contract manufacturing is flourishing in this region. The other factors that are contributing to the market growth are the growth of the industrialization in this region and the growing infrastructural development favors the market growth of surface mount technology. Latin America holds the second position in the global market followed by North America. The volatile economic conditions in Europe are affecting the surface mount technology market in this region. But the government is taking initiatives to develop their hardware and the manufacturing industry which in turn will contribute to the growth of the surface mount technology market.

Global Surface Mount Technology Market: Competitive Players

The key market players in the surface mount technology market include ASM Assembly Systems GmbH & Co. KG, Fuji Machine Mfg. Co., Ltd., Hitachi High Technologies Corporation, Allen Organ Company LLC., Panasonic Corporation, CyberOptics, Juki Corporation, Nikon Metrology NV Tioga Limited, and Omron Corporation.

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Global Surface Mount Technology Market: Regional Segment Analysis
North America(U.S.); Europe(UK, France, Germany); Asia-Pacific(China, Japan, India); Latin America(Brazil); The Middle East and Africa