Surface Mount Technology Market: Driving Efficiency in Electronics Manufacturing

 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.

Key Trends in the SMT Market

Miniaturization and High-Density Interconnects (HDI):

The trend towards smaller, more powerful electronic devices has led to the adoption of HDI techniques, which involve higher wiring densities per unit area. This has necessitated the use of SMT to accommodate more components in a limited space.

Automation and Industry 4.0:

The integration of automation, artificial intelligence (AI), and the Internet of Things (IoT) into SMT processes has improved production efficiency, quality control, and real-time monitoring. Smart manufacturing solutions are becoming increasingly prevalent in SMT production lines.

Growing Demand for Consumer Electronics:

 

The proliferation of smartphones, wearable devices, smart home appliances, and other consumer electronics has been a major driver for the SMT market. The need for compact and reliable electronic assemblies has fueled the adoption of SMT.

Emergence of Advanced Packaging Technologies:

Innovations in packaging technologies, such as system-in-package (SiP) and chip-on-board (COB), are enhancing the performance and functionality of electronic devices. SMT plays a crucial role in these advanced packaging solutions.

Growth Drivers

Increasing Adoption of Electric Vehicles (EVs):

 

The rapid growth of the EV market has spurred demand for advanced electronic components and systems. SMT is essential for the production of electronic control units, battery management systems, and other critical EV components.

Download PDF Brochure  @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=99662691

Advancements in Telecommunications:

 

The deployment of 5G networks and the expansion of telecommunications infrastructure require sophisticated electronic assemblies. SMT enables the production of high-frequency and high-speed communication devices.

Medical Devices and Healthcare:

The healthcare sector's increasing reliance on electronic medical devices, including wearable health monitors and diagnostic equipment, has driven the demand for reliable and compact electronic assemblies, boosting the SMT market.

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 info @

 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