A new research study, titled “Surface Mount Technology (SMT) Equipment Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015–2023,” offers a detailed analysis of the market. The research study by Transparency Market Research (TMR) throws light on the key drivers, barriers, promising opportunities, and limitations in the global surface mount technology equipment market. In addition, the key product types, applications, geographical segmentation, and competitive landscape of the market have been discussed in the research report.
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The rising demand for miniaturization, the introduction of innovative products, and increased production speed are some of the key factors anticipated to augment the growth of the global surface mount technology equipment market throughout the forecast period. In addition, the growing demand for SMT equipment from 3G telecom network, mobile phones, CFL and LED lighting, and LED/LCD television sets is expected to contribute extensively towards the market’s growth.
Furthermore, the rising demand for light-weight and efficient electronic devices in the automotive and medical fields is estimated to fuel the market in the near future. On the other hand, the high cost of equipment is one of the key factors restricting the growth of the market. Nevertheless, a significant rise in the number of innovative products and the increasing focus on research and development are estimated to offer promising opportunities in the near future.
The global market for surface mount technology equipment has been categorized on the basis of product type into cleaning equipment, placement equipment, inspection equipment, rework and repair equipment, screen print equipment, and soldering equipment. To give a clear picture of the market, the research study has presented the leading segments, along with their market size, share, and anticipated growth rate throughout the forecast period.
Among the key geographical segments, Asia Pacific is likely to lead the global surface mount technology equipment market throughout the forecast period. The high growth of this region can be attributed to the rising electronics and semiconductor manufacturing activities. In addition, the growing need for cost reduction with the help of effective manufacturing processes is expected to encourage the growth of the market in Asia Pacific. North America and Europe are anticipated to grow at a steady pace in the forecast period.
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Some of the leading players operating in the surface mount technology equipment market across the globe are Juki Automation Systems Inc., CyberOptics Corporation, Glenbrook Technologies Inc., Orbotech Ltd, Nordson Corporation, X-Tek Group Inc., Omron Corporation, Heller Industries Inc., Universal Instruments Corp., Speedline Technologies GmbH, Viscom AG, Panasonic Corporation, and Teradyne Inc.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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This release was published on openPR.