With the emergence and long-term Impact of COVID-19, Global Surface Mount Technology Market to reach USD 10.36 Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Surface Mount Technology Market is poised to raise up to USD 10.28 Billion by 2030 The Surface Mount Technology (SMT) market is a segment of the electronics manufacturing industry that involves the assembly of electronic components onto printed circuit boards (PCBs) using surface mount technology. SMT has gained widespread adoption due to its advantages over traditional through-hole assembly methods, including higher component density, improved performance, and cost-effectiveness.
The major driving factors for the Global Surface Mount Technology Market are Increasing demand for smaller, lighter, and more compact electronic devices, increasing adoption of smart phones and rising demand for consumer electronics. Moreover, rising introduction of advanced packaging technologies and advancements in pick-and-place machines is creating lucrative growth opportunity for the market over the forecast period 2023-2030.
Geographically, the global Surface Mount Technology market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). Asia Pacific has a dominant position in the SMT market, in 2022, driven by the presence of major electronics manufacturing hubs such as China, Taiwan, South Korea, and Japan. These countries have a strong ecosystem for electronic component manufacturing, contract electronics manufacturing services (EMS), and original equipment manufacturers (OEMs).
The region benefits from cost advantages, skilled labor, and extensive production capabilities, making it a significant contributor to the SMT market. North America, is fastest growing market for SMT technology. The region is known for its advanced electronics industry, including the production of semiconductors, consumer electronics, automotive electronics, and aerospace components. The presence of major electronics manufacturers, EMS providers, and technological advancements drives the demand for SMT equipment and services in this region.
The global Surface Mount Technology market is highly competitive owing to the presence of several key manufacturers such as ASM Assembly Systems (formerly Siemens Electronics Assembly Systems), Panasonic Corporation, JUKI Corporation, Fuji Machine Manufacturing Co., Ltd., Mycronic AB, Nordson Corporation, KLA Corporation, and others.
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Global Surface Mount Technology Market Size study & Forecast, by Component (Passive Components, Active Components), by End-User Industry (Consumer Electronics, Automotive, Industrial Electronics, Aerospace and Defense, Healthcare) and Regional Analysis, 2023-2030
Key findings of the study suggest:
- Global Surface Mount Technology Market is anticipated to grow with a healthy growth rate of more than 7.56% over the forecast period 2023-2030.
- In the Component segment, Active Components emerged out as the leading market segment in 2022.
- In the End User segment, Industrial Electronics emerged out as the leading market segment in 2022.
- Asia Pacific is anticipated to drive regional growth driven by the presence of major electronics manufacturing hubs such as China, Taiwan, South Korea, and Japan. These countries have a strong ecosystem for electronic component manufacturing, contract electronics manufacturing services (EMS), and original equipment manufacturers (OEMs)
- North America is expected to grow at higher rate followed by Asia Pacific during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
- Passive Components
- Active Components
- Consumer Electronics
- Industrial Electronics
- Aerospace and Defense
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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