Press release
Surface Mount Switch Market Trends and Forecast By 2024
Owing to these factors, the demand for surface mount switches has seen a significant rise across a vast array of industrial and manufacturing processes in the past few years.
Vast investments across the telecommunication sector and the flourishing electronics industry, especially in developed economies, have also considerably increased the global demand for surface mount switches. Owing to these factor, the demand for surface mount switches will continue to be strong across the globe in the next few years as well.
Obtain Report Details:
http://www.transparencymarketresearch.com/surface-mount-switch-market.html
Transparency Market Research estimates that the global surface mount switches market will exhibit a healthy 8.5% CAGR over the period between 2016 and 2024. At this rate, the market, which valued at US$2650.0 mn in 2015 in terms of revenue, is expected to reach US$5860.0 mn by 2024.
Based on type, global surface mount switch market is segmented into two types, namely ultra-miniature surface mount pushbutton switch and ultra-miniature surface mount toggle switch.
The segment of ultra-miniature surface mount toggle switch held the dominant share in the global surface mount switch market in 2015 and is expected to maintain its leading position over the forecast period as well. Long lasting performance of toggle switches as compared to pushbutton switches is a key factor fueling the overall demand for the former.
Toggle switches are mostly used as light switches in domestic settings and have wide applications in minicomputer panels, automated robots, and advanced medical equipment.
However, the segment of surface mount pushbutton switches is likely to witness a rise in its share in the global surface mount switches market during the forecast period.
The smooth operation and ease of changing position of electrical devices with the use of pushbutton switches is expected to enhance their applicability in the global market in the near future.
In terms of geography, Asia Pacific is presently the dominant regional market for surface mount switches. The region accounted for over one-third of the global market’s overall revenue in 2015 and is expected to remain a hot market for future years.
The vast rise in manufacturing of electronic products, rising demand for miniaturization of electronic components, and the strong growth of the automotive and electronics industry are expected to drive the market for surface mount switches in the region in the next few years.
Moreover, the rapid growth in wireless communication and the increased penetration of high speed internet has boosted the demand for surface mount switches across the telecommunication sector in the region.
Make an Enquiry:
http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=16844
North America trails Asia Pacific in terms of revenue contribution to the global surface mount switches market and is expected to retain its position over the forecast period as well.
The U.S. is the foremost economy driving the demand for surface mount switches in the region and is expected to continue generating strong demand owing to promising growth of sectors such as broadband connectivity and industrial automation.
Extensive government initiatives aimed at the improvement of the healthcare sector is triggering the utilization of advanced medical machinery and equipment in North America, further fueling the growth rate of surface mount switch market in the region.
About TMR
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
Contact TMR
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email:sales@transparencymarketresearch.com
Website:http://www.transparencymarketresearch.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Surface Mount Switch Market Trends and Forecast By 2024 here
News-ID: 535236 • Views: …
More Releases from TMR - Research Reports
Pulmonary Drugs Market is Expected to Reach US$ 28,082.1 Million by the End of 2 …
According to the research report, the global pulmonary drugs market is expected to be worth US$ 28,082.1 mn by the end of 2024 as compared to US$ 48,039.7 mn in 2015. Analysts calculate that the global market will plummet at a CAGR of -6.3% during the forecast period of 2016 and 2024. The market will thrive as the demand for combination drugs is anticipated to remain on the rise during…
North America Ventricular Assist Device Market is rising to a valuation of US$ 1 …
According to TMR, the opportunity in the North America market for VADs, which stood at US$0.4 bn in 2015, is likely to expand at a healthy CAGR of 9.20% between 2016 and 2024 and increase to US$1.07 bn by the end of the forecast period. The destination therapy (DT) segment has been reporting a greater application of VADs than the other two indication segments. It is expected to remain the…
Dental Membrane and Bone Graft Substitutes Market to rise to US$ 922.6 Million b …
Transparency Market Research notes that innovation and expansion into emerging regions have served these companies well in strengthening their hold in the dental membrane and bone graft substitutes market. For instance, Switzerland-based Geistlich Pharma AG - a global manufacturer and supplier of dental products and devices - expanded its operations in Sydney, Australia and New Delhi, India in 2016.
The global dental membrane and bone graft substitutes market is expected to…
Human Vaccines Market is Estimated to Reach US$ 72.5 Billion by 2024
The global human vaccines market was valued at US$28.3 bn in 2015 and is estimated to reach US$72.5 bn by 2024, registering an 11.2% CAGR during the forecast period.
By age group, pediatric vaccines accounted for a 57.5% share in the global human vaccines market in 2015. Adult vaccines, on the other hand, are expected to expand at a 13.2% CAGR from 2016 to 2024. Based on product, the pneumococcal segment…
More Releases for Transparency
Transparency Market Research
A belt drive is a type of power transmission device which is a looped belt wound around a pair of pulley so as to transmit power between two or more rotating shafts. Compared to other power transmitting devices, belt drives are more preferred in mechanical industry due to easy installation, numerous speed ratio selections, less power loss and comparative low price. Belt drive protects the rotating machinery from overload fluctuations…
Transparency Market Research
An ultrasonic motor is an electric motor which is driven by the ultrasonic vibration of a component. The stator of the motor is supported by piezoelectric components in ultrasonic frequency range which produces different types of vibrations depending on its arrangement. In other words, ultrasonic motor is a type of electric motor that transforms ultrasonic physical vibrations to linear motion, produced by a piezo-transducer. Ultrasonic motors therefore do not use…
Transparency Market Research
The global Li-Fi market is expected to exhibit growth at a robust pace between 2016 and 2023. Massive bandwidth owing to the growing RF spectrum crunch, together with a high degree of security and energy efficiency are expected to bolster the global Li-Fi market.
While the features offered by Li-Fi and visible light communications (VLC) are quite similar, unlike the latter, Li-Fi does not require line-of-sight between receiver and transmitter. The…
Transparency Market Research
A new research report published by Transparency Market Research states that the global dental bone graft substitutes and other biomaterials market is expected to grow due to the continuous rise in periodontal (gum) diseases along with growing incidence of dental fractures. The report, titled “Dental Bone Graft Substitutes and other Biomaterials Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”, is available for sale on…
eProcurement: Instant Transparency
ifm Achieves Better Prices in Indirect Procurement with JAGGAER solution
Vienna | Research Triangle, NC, USA | Essen, August 09, 2017 – ifm, the specialist for sensors in automation technology, has said goodbye to manual processing in indirect procurement once and for all. With the eProcurement digital procurement tool from JAGGAER, provider of the world’s most comprehensive Source to Pay (S2P) indirect and direct solution suite, more than 6000 employees…
More transparency in Engineering IT
CPO certification helps evaluate openness of IT systems
Digitalization is making openness in the linking of IT solutions increasingly important. The Code of PLM Openness (CPO), developed by the ProSTEP iViP Association, supplies a concrete approach for achieving precisely that. Fraunhofer IAO has now developed an effective certification for companies, which helps them comply with the CPO criteria.
Industrie 4.0 requires intensified collaboration between various tools and systems. Only when…
