Surface Mount Technology Market Share, Size, Trends, Industry Analysis Report, By Equipment (Inspection Equipment, Placement Equipment, Others); By Service; By Application; By Region, and Segment Forecasts, 2023 - 2032

Surface Mount Technology Market Share, Size, Trends, Industry Analysis Report, By Equipment (Inspection Equipment, Placement Equipment, Others); By Service; By Application; By Region, and Segment Forecasts, 2023 - 2032

The global surface mount technology market size is expected to reach USD 10.00 billion by 2032, according to a new study by Polaris Market Research. The report “Surface Mount Technology Market Share, Size, Trends, Industry Analysis Report, By Equipment (Inspection Equipment, Placement Equipment, Others); By Service; By Application; By Region and Segment Forecasts, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Miniaturization trend has been a significant driver of the surface mount technology market, as SMT offers a high degree of precision and accuracy needed for the manufacture of smaller components and circuit boards. The use of SMT has made it possible to pack more electronic components onto smaller circuit boards, enabling the development of smaller and more portable electronic devices such as smartphones, tablets, and wearable devices. SMT offers several advantages over through-hole technology, including smaller form factors, higher component density, and faster production speeds. It has enabled the development of smaller and more complex electronic devices, such as smartphones, wearables, and IoT devices.

The adoption of electric vehicles (EVs) has led to an increase in demand for SMT components in the automotive industry. In addition to power electronics, batteries, and sensors, EVs also require various electronic components such as motor controllers, inverters, and DC-DC converters. These components are typically smaller and more densely packed, which makes SMT an ideal method for their assembly. As a result, the increasing adoption of EVs is expected to boost the growth of the SMT market in the automotive industry. Since EVs require more efficient and reliable components, SMT components are preferred as they offer high-density packaging, lower power consumption, and better thermal management, making them ideal for the high-performance requirements of EVs.

Pandemic has also accelerated the adoption of digital transformation across various industries, including electronics manufacturing. The use of automation and digital technologies in SMT manufacturing has increased to ensure business continuity and reduce the risk of disruption caused by future pandemics or similar crises. Furthermore, the shift towards remote work has increased the demand for electronic devices, leading to an increase in the production of SMT components. As economies recover from the pandemic, the demand for electronic devices and SMT services is expected to continue growing.

Surface Mount Technology Market Report Highlights

Placement equipment segment held significant share, owing to its ability to improve technology, inspection quality, and reliability of the SMT technology

Supply chain services segment recorded robust growth rate, owing to improvement in the supply chain constraints across the value chain

Consumer electronics segment dominated the market, owing to surge in demand of daily use consumer products in emerging economies

The global players include ASM Pacific Technology, Seika Corporation, Panasonic, Nordson Corporation, Cognex Corporation, Fuji Machine Manufacturing, Teradyne, Mycronic, Kulicke & Soffa Industries, and Neoden SMT.

Polaris Market Research has segmented the surface mount technology market report based on equipment, service, application, and region:

Surface Mount Technology, Equipment Outlook (Revenue - USD Billion, 2019 - 2032)

Inspection Equipment

Placement Equipment

Soldering Equipment

Screen Printing Equipment

Cleaning Equipment

Repair & Rework Equipment

Surface Mount Technology, Service Outlook (Revenue - USD Billion, 2019 - 2032)

Designing

Test & Prototyping

Supply Chain Services

Manufacturing

Aftermarket Services

Surface Mount Technology, Application Outlook (Revenue - USD Billion, 2019 - 2032)

Consumer Electronics

Mobile Phones

Personal Computers

Home Appliances (TV, Refrigerators, Washing Machine, AC, Others)

Audio and Video Systems

Storage Devices

Others

IT & telecommunication

Telecom Equipment

Networking Devices

Automotive

Driver Assistance Systems

Infotainment Systems

Others

Industrial

Industrial Automation and Motion Control

Mechatronics and Robotics

Power Electronics

Photovoltaic Systems

Others

Aerospace & Defense

Aircraft Systems

Military Radars

Others

Healthcare

Medical Imaging Equipment

Consumer Medical Devices

Others

Others

Surface Mount Technology, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa