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Surface Mount Technology Market Size
- Report ID: GMI6028
- Published Date: Jun 2023
- Report Format: PDF
Surface Mount Technology Market Size
Surface Mount Technology (SMT) Market size was valued at over USD 5.8 billion in 2022 and is anticipated to grow at a CAGR of over 8% between 2023 and 2032 owing to the expanding industrial and manufacturing sectors. The demand for smaller & lighter electronic devices, such as smartphones, wearables, and IoT devices, is augmenting the need for miniaturized electronic components and high-density PCB assemblies. SMT enables the placement of tiny surface mount components, thereby contributing to the trend of miniaturization.
The surface mount technology market refers to the industry & market ecosystem that revolves around the assembly of electronic components on Printed Circuit Boards (PCBs) using surface mount technology.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Surface Mount Technology Market Size in 2022: | USD 8.8 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 8% |
| 2032 Value Projection: | USD 12.5 Billion |
| Historical Data for: | 2018 – 2022 |
| No. of Pages: | 200 |
| Tables, Charts & Figures: | 269 |
| Segments covered: | Component, Equipment, End-Use |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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High equipment costs can hinder market growth. SMT equipment, such as nesting machines and stencil printers, can be expensive to purchase & maintain. The high cost of such equipment can limit the ability of small businesses or those with limited budgets to adopt this technology.
Frequently Asked Questions (FAQ) :
Surface Mount Technology Market Scope
