The surface mount technology market size is expected to reach USD 10.24 billion by 2034, according to a new study by Polaris Market Research. The report “Surface Mount Technology Market Size, Share, Trends, Industry Analysis Report: By Equipment, Service (Designing, Test & Prototyping, Supply Chain Services, Manufacturing, and Aftermarket Services), Application, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Surface mount technology (SMT) is a method of mounting electronic components directly onto the surface of printed circuit boards (PCBs) for efficient and compact assembly.
Automation in manufacturing has revolutionized the surface mount technology market trends. Automated systems such as pick-and-place machines, advanced soldering techniques, and high-precision inspection tools have significantly increased the speed, accuracy, and cost-effectiveness of the surface mount technology process. These innovations enable manufacturers to produce high-quality electronic components with minimal human intervention. Continuous improvements in automation further improve the efficiency and scalability of surface mount technology processes, driving their adoption across various industries, thereby driving the surface mount technology market growth.
The rollout of 5G networks and the rising adoption of the Internet of Things (IoT) are creating new surface mount technology market opportunities. Both technologies require advanced, high-performance components that can handle increased data speeds and connectivity. Surface mount technology enables the manufacturing of compact and efficient devices that are essential for 5G infrastructure and IoT applications. From smart homes to connected cars and wearable devices, surface mount technology provides the necessary component density and reliability for these products, which propels demand for surface mount technology.
Surface Mount Technology Market Report Highlights
In 2024, the designing segment, based on design, dominated the surface mount technology market share as it is an initial and crucial stage for manufacturing.
The placement equipment segment, by equipment, is expected to witness significant growth in the forecast period as it is essential for accurately positioning components onto printed circuit boards (PCBs) in the surface mount technology process.
In 2024, North America dominated the surface mount technology market revenue share due to its advanced electronics industry, especially in the US and Canada.
Asia Pacific is expected to record a significant share during the forecast period, as countries such as China, Japan, South Korea, and Taiwan are global hubs for electronics manufacturing
A few global key market players are ASM Pacific Technology, Cognex Corporation, Fuji Machine Manufacturing, Kulicke & Soffa Industries, Mycronic, Neoden SMT, Nordson Corporation, Panasonic, Seika Corporation, and Teradyne.
Polaris Market Research has segmented the surface mount technology market report on the basis of equipment, service, application, and region:
By Equipment (Revenue – USD Billion, 2020–2034)
§ Inspection Equipment
§ Placement Equipment
§ Soldering Equipment
§ Others
By Service (Revenue – USD Billion, 2020–2034)
§ Designing
§ Test & Prototyping
§ Supply Chain Services
§ Manufacturing
§ Aftermarket Services
By Application (Revenue – USD Billion, 2020–2034)
§ Consumer Electronics
§ IT & Telecommunication
§ Automotive
§ Industrial
§ Healthcare
§ Other
By Regional Outlook (Revenue – USD Billion, 2020–2034)
North America
US
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Australia
Rest of Asia Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Rest of Middle East & Africa
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