Global Chip Mounter Market Report 2019: Market Reached a Aalue of US$ 4.1 Billion in 2018 and is Expected to Exceed US$ 5.6 Billion by 2024
DUBLIN, June 28, 2019 /PRNewswire/ -- The "Chip Mounter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The global chip mounter market reached a value of US$ 4.1 Billion in 2018. Looking forward, the market to exceed US$ 5.6 Billion by 2024, growing at a CAGR of around 5% during 2019-2024.
The chip mounting technology has experienced significant development over the last few decades and has emerged as a practical solution for achieving higher densities in packaging systems. It was initially introduced as the conventional Through Hole Technology (THT), which later resurfaced as Surface Mount Technology (SMT) and then the Fine Pitch Technology (FPT). Nowadays, the majority of manufacturers utilize both SMT and THT for mounting chips on substrates. These technologies are used in a number of industries which include automotive, telecommunication, medical and electronics.
On account of factors such as the rising demand for laptops and smartphones, growing internet penetration, and automation in household electronic goods, the consumer electronics industry has experienced robust growth over the past few years. As chip mounters are used to assemble semiconductor components on PCBs in consumer electronics, the escalating demand for these gadgets and appliances is strengthening the growth of the market.
Apart from this, to keep pace with the rising level of integration, hardware developers are investing in the development of new techniques to manage more circuitry at similar costs.
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Laura Wood, Senior Manager
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SOURCE Research and Markets