Surface Mount Technology (SMT) Market Size & Share, by Equipment (Placement, Inspection, Soldering, Screen Printing Equipment, Cleaning Equipment, Repair & Rework Equipment); Component (Passive, Active, Electrochemical); End-user Industry (Consumer Electronics, Automotive, Industrial Electronics, Aerospace & Defense, Healthcare, Telecommunication) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

Growth Drivers

• Increase in the Number of Internet of Things (IoT) Devices- The development of wearable technology and IoT devices is increasing demand for SMT in a number of ways. To enhance the user experience, IoT technologies and devices that are portable and small can be easily incorporated into a number of products. There are well over 13 billion linked IoT devices across the globe. IoT devices are projected to reach 25.4 billion by 2030.
• Rising Demand for Components Made of Smaller Consumer Electronics- In the consumer electronics industry, new technologies and innovators are always developing, providing consumers with access to cutting-edge features like fingerprint sensors in smartphones and smart televisions. Around the globe now, 6.8 billion people use smartphones. This equates to a smartphone penetration rate of more than 80% given that there are 8 billion people on the earth. In response to the rising demand for smaller, more compact devices, electronic components have been made smaller and more compact.
• Advent of Self-Monitoring, Analysis, and Reporting Technology (SMART)- Self-monitoring, analysis, and reporting technology (SMART) has revolutionized the technological landscape. SMART is rapidly becoming more and more widely used, from smart devices like smartwatches, and laptops to even more extensive uses in smart homes and factories. The necessity to quickly and properly install and inspect each component has fuelled the need for SMT equipment. 216.43 million people used smartwatches in 2022, and an estimated USD 43.39 billion in revenue was generated.

Challenges

• High-Frequency Applications and Thermal Management Are Necessary- The process of creating an electrical device is difficult because many factors, particularly in SMT, must be considered. When designing the device, factors including high-frequency applications, thermal control, and stress on the PCB from an improper coefficient of thermal expansion (CTE) must be considered. Understanding how a change in temperature will impact an object's size is made simpler by the CTE. When designing for high-frequency applications, such as telephony and consumer electronics, additional factors such as the impedance of the package signal lines, cross-talk noise between these lines, and inductance interconnects on the PCB must be considered.
• Systems for Surface Mounting Equipment are Expensive.
• Surface Mount Technology Should not be Used to Mount Power Circuits Or Other Components.