Surface Mount Technology Market Segmentation:
Equipment Segment Analysis
The inspection segment in the surface mount technology market is expected to grow with the highest revenue share of 34% during the forecast period. Its demand is likely to be driven by the increasing demand for inspection equipment in the telecommunication, automotive, consumer electronics, computing, and storage industries during the course of the projected period. Around 9.2 million US cars will be produced in 2021, a 4.5% increase from the year before.
End-User Industry Segment Analysis
Surface mount technology market from the telecommunication segment is expected to have a significant share of about 25% during the forecast period. The need for surface mount technology is being driven by the increasing demand for wireless networks in high-performance computing and telecommunications applications, which is essential for networks to operate quickly and accurately. By the end of 2021, there will be 5.3 billion subscribers to mobile services or 67% of the global population. Between now and 2025, there will be an increase of more than 400 million new mobile subscribers.
Our in-depth analysis of the global surface mount technology market includes the following segments:
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