Incrementing demand for smart gadgets is the primary driver of this market as it is essential for printed circuit boards, besides the recent increase in the number of contract manufacturers for the production of large batches of various components of electronic devices.
San Francisco, CA -- (SBWIRE) -- 04/09/2018 -- Development of surface mount technology (SMT) has been nothing short of revolution as far as electronic circuits are concerned, taking it past the limitations of traditional thru-hole soldering methods and significantly helping in the miniaturization of electronic devices. Via surface mount technology, electronic circuit components can be placed directly over the surface of the printed circuit boards (PCBs) and currently, nearly all electronic hardware that are produced utilize SMT. As per the requirement, surface mount technology works on advanced principles and employs different soldering equipment, which in turn offers more electrical conductivity and improves reliability of the electronic devices in comparison to thru-hole soldering technology. With ubiquity of electronic devices such as smartphones, laptops, television, and tablets, the demand in the global surface mount technology is expected to expand at a robust rate during the forecast period of 2017 to 2025.
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Global Surface Mount Technology Market: Key Trends
Incrementing demand for smart gadgets is the primary driver of this market as it is essential for printed circuit boards, besides the recent increase in the number of contract manufacturers for the production of large batches of various components of electronic devices. The trend of miniature and portable devices that are light weight as well as efficient is another important factor driving the demand in the global surface mount technology. The escalating demand for of LCD/LED televisions, LED and CFL lighting, and 3G telecom network are also expected to positively reflect on the market. Conversely, high cost of SMT system and their lack of ability to withstand high power of high voltage is hindering the growth rate of the market.
Global Surface Mount Technology Market: Market Potential
The demand for SMT is expected to gain new opportunities from the increasing use of X-ray inspection equipment for disease diagnostics and automatic optical inspection (AOI). In addition to that, application of electronics in the defense, healthcare, aerospace, and automotive industries is also opening new revenue avenues for the players in the surface mount technology market. Additionally, SMT vendors are aggressively investing on the research and development of new products to meet the end users' demands, which also promises well for this market. For instance, ASMPT, a prominent company in the global SMT market, has decides to invest nearly 10% of its revenue for the development of customized SMT solutions.
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Global Surface Mount Technology Market: Regional Outlook
With vast population base and increasing disposable income among the urban population, Asia Pacific is currently the most lucrative region for the players in this market and is expected to remain the leading region throughout the forecast period. India, China, South Korea, and Japan are some of the key country-wide markets for surface mount technology in Asia Pacific. On the other hand, North America and Europe are also expected to extend the demand in the near future, although at a significantly lower growth rate as compared to Asia Pacific. The Middle East and Africa as well as rest of the world are also expanding the demand in the global SMT market.
Global Surface Mount Technology Market: Competitive Landscape
Due to minimal difference between the products, the competition between various vendors in the global surface mount technology is intense, and escalating with reduced prices. Acquisition of smaller companies in order to add to enhance product portfolio and other modes of business consolidation are common strategies adopted by the key players to stay of the competition. Some of the leading companies in the global SMT market are CyberOptics Corporation, Mycronic AB, ASM Assembly Systems GmbH & Co. KG, Electro Scientific Industries Inc., Hitachi High-Technologies Corporation, Fuji Machine Manufacturing Co., Ltd., Juki Corporation, Nordson Corporation, Viscom AG, and Orbotech Ltd.
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