The Surface Mount Technology Market is Expected to Grow at a CAGR of 9.84% Between 2015 and 2020 According to Surface Mount Technology Market 2015-2020 Report

Dublin, Dec. 02, 2015 (GLOBE NEWSWIRE) -- Research and Markets (http://www.researchandmarkets.com/research/5rvj67/surface_mount) has announced the addition of the "Surface Mount Technology Market 2015 - Global Forecast to 2020" report to their offering.

The surface mount technology market was valued at USD 2.70 Billion in 2014 and is expected to grow at a CAGR of 9.84% between 2015 and 2020.

The miniaturization of electronics product, primarily consumer products, and circuit boards with greater packaging density is driving the market. Using surface mount technology method, both layers of the PCBs could be used for assembling and the final PCB area for the same circuits could be decreased by 50%. The size of the circuit with miniaturized electronic components could be reduced by 30% than the conventional technique.

Consumer electronics application accounted for the largest share among all applications of the surface mount technology market, followed by that of telecommunication in 2014. 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. Thus, 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. With the rising demand for sophisticated electronics systems required in luxury cars and sport utility vehicles (SUVs), there has been a significant growth in the demand for SMDs in the automotive sector.

SMT placement equipment represents the largest product market driven by the miniaturization trend, which has resulted in need for higher accuracy in the placement of semiconductor active components such as transistors and diodes among others. The market for inspection equipment segment is expected to grow at a faster rate due to an increase in use of small-sized components and optoelectronics which would force the electronics assemblers to invest in inspection equipment during the forecast period. Eliminating rework, improving manufacturing processes, reducing related costs, and increasing profit are some of the advantages driving adoption of SMT inspection equipment.

APAC accounted for the largest share of the surface mount technology market in 2014; the market in the region is expected to grow at a high CAGR between 2015 and 2020. Increasing electronic manufacturing activity, rising demand miniaturization of components, and growth in consumer and automotive electronics are driving the SMT market in the APAC region.

One of the key restraining factors in the surface mount technology market is the high cost of the surface mount equipment. Selection of the SMT equipment is dependent on different factors such as device complexity, packaging and equipment standards, type and number of parts to be placed, and future needs for volume and flexibility. Nordson Corp. serves numerous consumer nondurable, durable, and technology end markets including packaging, electronics, medical, appliances, energy, transportation, construction, general product assembly, and finishing. One of the reasons for the company's strength and stability is its vast product portfolio, which spans over a range of products and services for different stages in a typical PCB mounting cycle.

Companies Mentioned

- ASM Assembly Systems GMBH & Co. KG
- Cyberoptics Corp.
- Electro Scientific Industries Inc.
- Fuji Machine Manufacturing Co., Ltd.
- Hitachi High-Technologies Corp.
- Juki Corp.
- Mycronic AB
- Nordson Corp.
- Orbotech Ltd.
- Viscom AG

For more information visit http://www.researchandmarkets.com/research/5rvj67/surface_mount

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