Surface Mount Technology Market to See 9.84% CAGR Growth to 2020

Nov 12, 2015, 07:30 ET from ReportsnReports

PUNE, India, November 12, 2015 /PRNewswire/ --

The surface mount technology market is expected to grow steadily driven by growing electronic manufacturing activity, rising demand miniaturization of components, and growth in consumer and automotive electronics in the APAC region.

Complete report on surface mount technology market spread across 172 pages, profiling 10 major companies and supported with 98 tables and 68 figures is now available at .

One of the major market growth drivers for the surface mount technology is the miniaturization of electronics devices. With reduction in size of electronic components, high packing density is possible. The size of the circuit with miniaturized electronic components could be reduced by 30% than the conventional technique. Surface mount technology is majorly used in the consumer electronics industry, and this trend is expected to continue during the forecast period.

In the surface mount technology market, consumer electronics is estimated to grow at a high CAGR during the forecast period. Electronic devices such as cell phones, laptops, MP3 players, and GPS navigation systems have evolved due to the miniaturization of technology and revolutionary development of microelectronics. Hence, the demand for SMDs in applications related to consumer electronics is increasing and is expected to grow at a faster rate than the other applications during the forecast period.

The market in APAC is expected to grow at a high CAGR between 2015 and 2020. Furthermore, increasing penetration of wireless communication standards and rising demand for 3G/4G network are boosting SMT demand in the telecommunication sector in this region.

Several primary interviews with market experts have been conducted across four major regions, namely, the North America, Europe, Asia-Pacific, and Rest of the World (the Middle East, Africa, and Latin America). The primary participants considered for the study are C-level executives, managers, and D-level executives of the Tier 1, Tier 2, and Tier 3 companies.

The key players in the market include Nordson Corporation (U.S.), Mycronic AB (Sweden), Fuji Machine Manufacturing Co., Ltd. (Japan), Electro Scientific Industries Inc. (U.S.), and Orbotech Ltd. (Israel), Hitachi High Technologies Corporation (Japan), Viscom AG (Germany), Juki Corporation (Japan), CyberOptics Corporation (U.S.), and ASM Assembly Systems GmbH & Co. KG (Germany). Order a copy of Surface Mount Technology Market by Equipment (Soldering, Screen Print, Placement, Inspection, Cleaning, Repair & Rework), by Application (Automotive, Consumer Electronics, Telecommunication, Medical), and Region - Global Forecast to 2020 research report at .

This research report categorizes the global surface mount technology market based on equipment, application, and region. This report describes the drivers, restraints, opportunities, and challenges with respect to the surface mount technology market. The Porter's five forces analysis has been included in the report with a description of each of its forces and their respective impact on the surface mount technology market. Brief information on research methodology for the report can be found in the report description provided on the website.

On a related note, the surface computing market is forecast to grow at a ~36% CAGR between 2015 and 2020 and is expected to be worth USD 26.2 Billion by 2020. The hospitality segment of the surface computing market is expected to grow at the highest CAGR of ~39% between 2015 and 2020. Companies like Microsoft Corp., Planar Systems Inc., 3M Co., Vertigo Systems GmbH, Touchmagix Media Private Limited, Nvision solutions Inc., EyeFactive GmbH, SensyTouch, Inc. (U.S.) and Ideum Inc. (U.S.) are profiled  in this research report available at .

Explore more reports on the semiconductor and electronics market at .

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Ritesh Tiwari
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