Asia Pacific to have the largest surface mount technology market size during the forecast period from 2023 To 2028

 The surface mount technology (SMT) market is projected to grow from USD 5.8 billion in 2023 to reach USD 8.4 billion by 2028; it is expected to grow at a CAGR of 7.8% during the forecast period. Some of the major driving factors for the growth of this market include the increased demand for miniaturized consumer electronics products and the increasing adoption of electric vehicles.

Emerging Trends

1. Advancements in SMT Technology: Technological advancements in SMT, such as the development of high-speed pick-and-place machines, improved soldering techniques, and advanced inspection systems, are driving market growth. These innovations enhance the efficiency, accuracy, and reliability of SMT processes, enabling the production of more complex and high-performance electronic assemblies.

2. Focus on Automation and Industry 4.0: The integration of automation and Industry 4.0 concepts in SMT manufacturing is transforming the market. Automated SMT systems, data analytics, and smart manufacturing technologies are improving production efficiency, reducing downtime, and enabling real-time monitoring and quality control.

3. Development of Lead-Free and Environmentally Friendly Materials: There is a growing emphasis on the use of lead-free and environmentally friendly materials in SMT processes. Regulatory requirements and environmental concerns are driving the adoption of lead-free solders, fluxes, and other materials that comply with environmental standards and reduce the ecological footprint of electronics manufacturing.

4. Increased Use of Flexible and 3D Printed Electronics: The emergence of flexible and 3D printed electronics is creating new opportunities for SMT. Flexible PCBs and 3D printed components require specialized SMT techniques and equipment, opening new avenues for market growth and innovation.

5. Shift Towards High-Volume Production: As electronic devices become more prevalent, there is a shift towards high-volume production in the SMT market. Manufacturers are investing in high-capacity SMT equipment and processes to meet the increasing demand for mass-produced electronic assemblies, particularly in consumer electronics and automotive applications.
   
   

Download PDF Brochure @

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=99662691

Placement equipment is expected to have the largest market size during the forecast period.

The placement equipment forms one of the most important parts of surface mount technology (SMT) manufacturing since it places the components reliably and accurately enough to meet the output requirements in an optimized manner. The surface mount technology (SMT) placement equipment with full component feeders accounts for about 50% of the total capital investment required for a medium-volume surface mount technology (SMT) manufacturing line. The need for higher accuracy, product miniaturization, improved speed, and flexibility drives the surface mount technology (SMT) placement equipment market.

Consumer Electronics is expected to have the highest CAGR during the forecast period.

The surface mount technology (SMT) market for consumer electronics applications is expected to grow with the highest CAGR during the forecast period. The main development responsible for the reduced size and weight of consumer electronics devices is the inclusion of surface mount technology in these applications. Surface-mounted components are smaller, thinner, and lighter than through-hole packages, which consume more space and power and contribute considerably to the total weight of the product.

Asia Pacific to have the largest market size during the forecast period.

Asia Pacific is the largest market for surface mount technology is expected to have the largest market size during the forecast period. The constantly developing wireless communication standards and the rising demand for 5G networks are boosting the demand for surface mount technology (SMT) in the telecommunications sector in this region. China is one of the fastest-growing economies in the world, and its market for surface mount technology (SMT) is expected to grow primarily because of the vast number of SMT manufacturing companies. The growth of the surface mount technology (SMT) market is also driven by the growth of electric vehicles in the automotive sector in Asia Pacific.

The report profiles key players in the surface mount technology (SMT) market and analyzes their market shares. Players profiled in this report are Fuji Corporation (Japan), Mycronic AB (Sweden), Nordson Corporation (US), Viscom AG (Germany), KLA Corporation (US), Juki Corporation (Japan), Hitachi High-Technologies Corporation (Japan), ASM Assembly Systems (Germany), Yamaha Motor (Japan), and Saki Corporation (Japan) are some major players.

Know more infromation @  https://www.marketsandmarkets.com/Market-Reports/surface-mount-technology-market-99662691.html

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441