The global surface mount technology (SMT) market is experiencing a period of steady growth, propelled by the ever-increasing complexity of electronic devices. Mordor Intelligence, a leading market research firm, forecasts the market to reach a substantial size of USD 8.87 billion by 2029, growing at a Compound Annual Growth Rate (CAGR) of over 7.60% during the forecast period (2024-2029). This growth signifies the crucial role SMT plays in miniaturizing and maximizing the functionality of modern electronics.
Shrinking Size, Booming Demand: SMT Enables Electronics Miniaturization
Several factors are contributing to the increasing adoption of surface mount technology across various electronic device sectors:
Demand for Compact and Portable Electronics: Consumers' preference for smaller, lighter electronics such as smartphones and wearables necessitates the use of space-saving SMT components.
Increased Functionality in Electronics: The integration of advanced features into electronic devices requires the precise placement of a high number of miniature components, making SMT the preferred method.
Enhanced Performance and Efficiency: SMT allows for shorter connection paths on printed circuit boards, leading to improved signal transmission and device performance.
Mordor Intelligence's Report Offers Valuable Insights:
Mordor Intelligence's comprehensive report on the "Surface Mount Technology Market" provides a detailed analysis of the key trends shaping the industry:
Market Segmentation: The report segments the market by component type (passive, active), placement equipment type (pick and place, solder printing), and application (consumer electronics, automotive electronics, industrial electronics).
Growth Drivers Across Industries: The report explores the specific SMT needs of various electronic device manufacturing sectors.
Technological Advancements: The report analyzes the development of advanced SMT equipment for faster, more precise, and automated component placement.
Competitive Landscape: The report profiles leading manufacturers and suppliers of SMT equipment and materials across the globe.
For more information and to access the full report, please visit: https://www.mordorintelligence.com/industry-reports/surface-mount-technology-market
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