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Surface Mount Technology Market to Grow at a CAGR of 6.8% by 2022 - Key Players are Hitachi, Juki Corporation, Fuji Machine Manufacturing & ASM Assembly Systems - Research and MarketsThe "Surface Mount Technology Market - Forecasts from 2017 to 2022" report has been added to Research and Markets' offering. The Surface Mount Technology (SMT) market is projected to expand at a CAGR of 6.83% to reach a total market size of US$5.244 billion by 2022, from US$3.768 billion in 2017. The technology is increasingly being adopted on account of advantages such as reduced manufacturing cost, higher component density and simpler and faster automation. Growing global electronics industry and increasing usage of flexible materials on PCBs are some of the key factors driving the surface mount technology market growth. Miniaturization of electronic components and focus on reducing defects are additional factors boosting the demand for surface mount technology equipment. However, the high cost of SMT equipment will restraint the market growth during the forecast period. Under application segment, consumer electronics held the largest global market shae in 2016 and will continue its dominance till the end of the forecast period. There has been an increasing demand for smartphones, tablets, GPS navigation systems, and other electronic products across the globe. Miniaturization of components and technological development will further bolster the demand for surface mount technology equipment by enterprises operating in this segment. Geographically, APAC region will dominate the global market of surface mount technology till 2022 owing to growing consumer electronics and automotive industries in China, India and other economies. Companies Mentioned
Key Topics Covered: 1. Introduction 2. Research Methodology 3. Executive Summary 4. Market Dynamics 5. Surface Mount Technology Market Forecast by Product (US$ Billion) 6. Surface Mount Technology Market Forecast by Industry (US$ Billion) 7. Surface Mount Technology Market Forecast by Geography (US$ Billion) 8. Competitive Intelligence 9. Company Profiles For more information about this report visit https://www.researchandmarkets.com/research/r8g7tl/surface_mount View source version on businesswire.com: http://www.businesswire.com/news/home/20170719005933/en/ |
