Players Pioneer IOT Integration For Enhanced Electronic Components Trend: A Crucial Influence on the Surface Mount Technology Market's Transformation in 2025

How Are the key drivers contributing to the expansion of the surface mount technology market?
The expansion of the surface mount technology market can be significantly traced back to the rise in sales of electric cars. An electric car is defined as a vehicle that partially or wholly runs on electricity that is drawn from a battery that requires recharging. In these vehicles, surface-mount technology (SMT) is utilized to directly affix electrical components onto the surface of a printed circuit board (PCB). SMT offers enhanced mechanical durability under stress and vibration, a feature vital in the automobile industry. For example, a report from the International Energy Agency, a France-based intergovernmental organization offering policy advice, analysis, and data on the global energy sector, released in April 2023, forecasted that the worldwide sales of electric vehicles would rise from 10 million in 2022 to 14 million in 2023. As a result, the escalating sales of electric cars will stimulate the surface mount technology market.

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What growth opportunities are expected to drive the surface mount technology market's CAGR through 2034?
There has been a robust expansion in the size of the surface mount technology market in the last few years. The market is projected to grow from a value of $5.68 billion in 2024 to $6.21 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 9.4%. Factors contributing to the growth observed in the historic period include the miniaturization of electronic devices, progress in component packaging, heightened mass production efficiency, an increase in component density, and enhanced electrical performance.

Expectations are high for the surface mount technology market, projecting substantial growth within the next years. It is forecasted to reach a value of $8.98 billion by 2029, growing at a compound annual growth rate (CAGR) of 9.7%. The predicted growth during this period is primarily due to the emergence of the Internet of Things (IoT), the rise of flexible and wearable electronics, increasing usage of innovative materials, artificial intelligence (AI) integration, and electric vehicle (EV) manufacturing. Major trends to be seen during the forecast period include progress in package-on-package (PoP) technology, the adoption of the 5G technology, advancements in pick-and-place systems, the emergence of smart manufacturing and industry 4.0, as well as lead-free soldering technologies.

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What are the emerging trends shaping the future of the surface mount technology market?
Key players in the surface mount technology market are spearheading the development of groundbreaking products equipped with advanced technologies such as Internet of Things (IoT) integrated functionality. This involves incorporating connectivity features into electronic components that facilitate smooth communication and data transfer, thereby improving device performance and monitoring capabilities. To illustrate, Linx Technologies, a division of TE Connectivity, unveiled the ANT-GNL1-nSP, a surface-mount embedded GNSS antenna, in December 2022. This antenna, compatible with GPS, Galileo, GLONASS, Beidou, and QZSS in the L1/E1/B1 bands, stands out for its impressive performance packed into a compact size of 9.6mm x 8.4mm x 0.9mm. It is characterized by linear polarization and possesses an omnidirectional radiation pattern. The antenna, designed for reflow-solder mounting, is particularly suitable for small devices in the rapidly expanding IoT market.

Which growth-oriented segments of the surface mount technology market are leading the industry's development?
The surface mount technology market covered in this report is segmented -

1) By Equipment: Placement, Inspection, Coating Equipment, Solder Equipment, Cleaning Agents, Rework And Repair Equipment
2) By Components: Transistor And Diodes, Integrated Circuits
3) By Industry Vertical: Telecommunication, Consumer Electronics, Automotive, Aerospace And Defense, Healthcare

Subsegments:
1) By Placement: Pick And Place Machines, Die Bonding Machines, Wire Bonding Machines
2) By Inspection: Automated Optical Inspection (AOI), X-Ray Inspection Systems, 3D Solder Paste Inspection
3) By Coating Equipment: Conformal Coating Machines, Dispensing Systems, Coating Application Equipment
4) By Solder Equipment: Reflow Ovens, Wave Soldering Machines, Selective Soldering Equipment
5) By Cleaning Agents: Solvent-Based Cleaners, Aqueous Cleaners, No-Clean Flux
6) By Rework And Repair Equipment: Soldering Stations, Desoldering Tools, Hot Air Rework Stations

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What regions are leading the charge in the surface mount technology market?
Asia-Pacific was the largest region in the surface mount technology market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global surface mount technology market report during the forecast period. The regions covered in the surface mount technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What companies are at the forefront of innovation in the surface mount technology market?
Major companies operating in the surface mount technology market include Hitachi High-Technologies Corporation, Panasonic Holdings Corporation, Assembleon Automation Hanwha Group, Fuji Corporation, Yamaha Motor Co Ltd, Nordson Corporation, Kulicke and Soffa Industries Inc., Speedline Technologies, ASM Assembly Systems GmbH & Co KG, Universal Instruments, Rayming Technology, Essemtec AG, CyberOptics Corporation, Juki Corporation, Aurotek Corporation, Electro Scientific Industries Inc., GPD Global, Europlacer, Koh Young Technology Inc., Electronic Manufacturing Services Group Inc., Viscom AG, Mycronic AB, SSM MYDATA Services, Zhejiang Neoden Technology Co Ltd, Kasdon Electronics Limited, Saki Corporation, DDM Novastar, Onetech Smt Solutions Private Limited

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What Is Covered In The Surface Mount Technology Global Market Report?

•Market Size Forecast: Examine the surface mount technology market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the surface mount technology market for a structured understanding.
•Key Players Overview: Analyze major players in the surface mount technology market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the surface mount technology market.
•Segment Contributions: Evaluate how different segments drive overall growth in the surface mount technology market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the surface mount technology market.
•Industry Challenges: Identify potential risks and obstacles affecting the surface mount technology market.
•Competitive Landscape: Review strategic developments in the surface mount technology market, including expansions, agreements, and new product launches.

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