SMT inspection equipment market reflect impressive growth rate to during 2022-2031

Increase in need to install inspection systems in electronic assembly lines due to changes in size and density of components is expected to drive the global SMT inspection equipment market during the forecast period. Earlier, bigger size of components allowed operators to carry out inspection without any hitches.

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However, component sizes have now become smaller, while PCB assemblies have become denser. It is difficult to control production and therefore defects arise. Thus, it is necessary to use an automated inspection system. Major technologies such as automatic optical inspection, automatic x-ray inspection, solder paste inspection, and test equipment such as flying probe tester, and ICT are involved in SMT inspection machines. Inspection, metrology, and data analytics technologies play a key role in enabling companies to develop and manufacture advanced semiconductor devices.

Continual evolution of semiconductors to smaller geometries and more complex multi-level circuitry has significantly increased the performance and cost requirements of the capital equipment used to manufacture these devices. Construction of an advanced wafer fabrication facility can cost well above US$10 Bn. This is substantially more than previous-generation facilities. Additionally, chipmakers are demanding increased productivity and higher returns from their manufacturing equipment and are also seeking ways to extend the performance of their existing equipment. Changing the dimension of devices and components has augmented the growth of 3D. This is especially important when dealing with material variance from one lot to the next, which is prevalent in today's industrial environment. Debugging time has reduced and false calls are eliminated, resulting in increased throughput and overall efficiency. Quantitative height measurement identifies the component size and positional accuracy across a wide range of components. Top vendors in the surface mount technology equipment are expected to gain growth opportunities in automated optical inspection in SMT environment and online SMT inspection machines during the forecast period.

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Rise in Demand for SMT PCBs in Consumer Electronics Sector to Drive Global SMT Inspection Equipment Market

The printed circuit board (PCB) industry has been growing at a rapid pace since the last few years, primarily due to the continuous development in consumer electronics devices and increase in demand for miniature PCBs in electronics and electrical equipment. These electronic devices come in various shapes, forms, and sizes; and are developed according to the application requirement. Thus, the processing lifecycle of an electronic device travels through the entire surface mount technology equipment from being a printed circuit board to a finished electronic device. Internet of Things (IoT) offers new opportunities to manufacturers of consumer electronics and wearable devices. Innovation in designs of wearable devices such as smart watches that incorporate chips and flexible sensors is likely to significantly impact the PCB market.

The number of systems connected over the internet has increased substantially across the globe over the last decade. Global installed base of SMT lines stood at approximately 70,176 in 2019 and increased to around 73,231 in 2020, despite the COVID-19 crisis. Together, these SMT lines annually process up to 8 trillion active and passive components that populate some 33 billion printed circuit boards, which form the heart of Smart Phones, Notebooks, FTVs, and future IoT applications. Inspection and testing are significant steps in the process of bringing a product to the market. SMT inspection system can accurately detect component-level defects such as reversed polarity, and missing, damaged, and wrong components. Furthermore, PCB inspection is an essential element in an electronics manufacturing process. It allows faults to be detected as soon as possible after the manufacturing process.

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Increase in Adoption of Electric Vehicles to Boost Global SMT Inspection Equipment Market

Increase in penetration of EVs and HEVs; rise in demand for advanced driver assistance systems (ADAS); and proliferation of high-end in-car infotainment systems are some of the key factors fueling the integration of electronics in cars. Increase in amount of electronics that go into a car has resulted in the car becoming less of a mechanical thing consisting of a few electronics and more of a computer with wheels. According to the International Energy Agency, sales of electric cars touched 6.6 million in 2021, more than tripling their market share from two years earlier. In response to such demands, the SMT equipment industry has introduced special machines for the development of PCBs for electric and autonomous vehicles.

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Advancements in Digital Computing, Machine Vision, and Image Processing to Propel Demand for High-speed and Accurate Automatic Optical Inspection (AOI) Systems

In terms of system, the AOI segment held the largest share of around 37.89% of the global SMT inspection equipment market in 2021, owing to advancements in digital computing, machine vision, and image processing. It has become essential to automate the inspection process with the help of high-resolution cameras, lighting devices, illumination techniques, and an efficient processing algorithm. The revenue from automated optical inspection (AOI) equipment is anticipated to grow at a CAGR of 5.6% during the forecast period. Automated optical inspection systems are the ideal solution for high-throughput and high-resolution applications. These systems are suitable for a wide range of applications requiring automated defect detection and high-accuracy measurements, including Microelectromechanical systems (for MEMS inspection or MEMS measurement), and semiconductor and discrete device inspection and measurement.

Analysis of Key Players in Global SMT Inspection Equipment Market
The global SMT inspection equipment market is consolidated, with a small number of large-scale vendors controlling majority of the share. Key players are significantly investing in research and development activities to enhance their market share. Expansion of product portfolios and mergers & acquisitions are major strategies adopted by market players. Mycronics, Koh Young, Test Research, SAKI Corporation, Jutze Intelligence, and Pemtron Corporation are some of the key players operating in the global SMT inspection equipment market.

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