Surface Mount Technology Market - Historic Data (2019-2024), Global Trends 2025, Growth Forecasts 2037
Surface Mount Technology Market in 2025 is evaluated at USD 6.68 billion. The global Market size was over USD 6.29 billion in 2024 and is anticipated to witness a CAGR of around 7.7%, crossing USD 16.5 billion revenue by 2037. Asia Pacific is expected to garner USD 5.78 billion by 2037, attributed to concentration of PCB manufacturing factories in the region.
Industries are moving away from through-hole technology in favor of surface mount technology due to its many benefits, including its lower component count, higher component density, superior mechanical performance, and simpler, quicker automated assembly. Thus, it is anticipated that surface mount technology will become more popular.
Additionally, it is projected that most electronics will become more compact and smaller, and there is an increase in demand for these tiny components, which is made possible by SMT. New devices have a substantially higher component density and more connections per component, although they are smaller than older ones. This suggests that electronic devices with the smallest possible form factors, such as smartphones, wearables, and IoT, can be more advanced and efficient than before. Between 2019 and 2022, the number of wearable gadgets globally expanded dramatically. From 929 million the year before to approximately 1.1 billion in 2022, this number grew worldwide.
