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Global Surface Mount Technology Equipment Market: Growing Use in Wearable Electronics and Smart Card
According to the report the global surface mount technology equipment market is anticipated to expand at a 4.5% CAGR from 2018 to 2026 and be worth US$8,014.8 mn by 2026. The growing use of flex circuit across smartphone, smart card, and wearable electronic industries is the main factor behind the growth of global surface mount technology equipment market. The rising demand for instruments from both defence and medical sectors will also boost the use of surface mount technology in automated optical inspection (AOI) equipment, as well as automated x-ray inspection equipment (AXI).
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As surface mount technology helps in the utilization of either sides of PCB as in when desired, the demand for equipment that makes use of this technology is increasing. Apart from this, the use of this technology Boost's performance level as equipment making use of SMT can be used with pick-and-place machines. With the rapid urbanization and growing population, it is anticipated that the demand for servers, routers, switches and various other devices that makes use of surface mount technology will increase manifolds. However, there are a few factors with your anticipated to restrict the growth of the market from reaching its fullest potential. One of those challenging factors is the high price of these equipment. The entry of several local players in the developing nations by offering cheaper yet effective surface mount technology equipment is anticipated to threaten the well-established and larger players.
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Regionally, it is expected that Asia Pacific will continue to hold the leading position within the surface mount technology equipment market. This region in 2017, held a total of 35% share. In Asia Pacific, there is a rise in the adoption of technology as well as an increase in the application of printed electronic circuit across display systems, computers, mobile phones, and even health care instruments, which in turn is bolstering the demand for surface mount technology equipment in the region.
On the basis of end-use industry, the global surface mount technology equipment Market is segmented into aerospace, defence, automotive, healthcare, consumer electronics, and industrial. Of these, the leading end use industry which contributed the highest in terms of revenue in the year 2017 was consumer electronics. In fact, the consumer electronics followed by the industry in the years to come.
Key players within the market are concentrating extensively on R&D activities, product innovation, and strategically partnering with other companies in order to strengthen their foothold. Steps taken by companies are also helping them increase their product portfolio as well as bring innovation in their products. Some of the leading companies profiled in the report are Yamaha Motor Co., Ltd., Mycronic AB, PARMI Corp., Viscom AG, Nordson Corporation, Fuji Machine Mfg. Co., Ltd., N.V., KLA-Tencor Corporation, ASML Holding, Juki Corporation, Hitachi, Ltd., Panasonic Corporation, Orbotech Ltd, Panasonic Corporation, JUTZE Intelligence Technology Co., Ltd., Mirtech, Koh Young Technology, and Omron Corporation, Test Research, Inc.
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