Surface Inspection Market Sales, Demand Supply Growth, Drivers and 2022

The Surface Mount Technology Market is expected to be valued at USD 5.42 Billion by 2022, growing at a CAGR of 8.9% between 2017 and 2022. The growth of this market is propelled by the increased demand for miniaturized consumer electronics products and the increasing adoption of electric vehicles in the market.

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Placement equipment is expected to hold the largest share of the overall surface mount technology market in 2017. The SMT placement equipment market is driven by the need for higher accuracy, product miniaturization, improved speed, and flexibility. The SMT placement equipment is used to manufacture electronic systems in which electronic components are fitted with high speed and high accuracy on PCBs, which are then used in manufacturing consumer electronics and industrial equipment. The market for inspection equipment is expected to grow at the highest rate between 2017 and 2022. The inspection system is an important division of the assembly process and helps to manufacture a stable, high-quality product. As the PCB moves around on a placement machine, there is a possibility of components getting disoriented from their location. Hence, the equipment has to inspect for any errors and disorientation before passing the PCB through the soldering process.

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The consumer electronics industry is expected to dominate the market during the forecast period and is expected to grow at a high CAGR. The increasing miniaturization of electronic devices is leading to the manufacturing of compact, multifunctional, and power-efficient consumer electronic devices. These are expected to overcome the hardware limitations for consumer electronics as they need to have a number of components placed in a limited amount of space, and also have to be reliable, safe, and long lasting. The market for the automotive industry is expected to grow at the highest rate.

The growing demand for luxury vehicles, sports utility vehicles, and technologically advanced vehicles has increased the usage of electric components in the automotive industry. The large and growing automotive market in the APAC region offers numerous business opportunities for electronic component manufacturers. This leads to the increased use of SMT in the automotive application.

APAC held the largest share of the overall surface mount technology market, and this market is expected to grow at the highest rate during the forecast period. The growing demand for mobile phones, LCD/LED television sets, LED and CFL lighting, and other consumer electronics products drives the SMT market in APAC. Additionally, the growing trend of miniaturization, higher production speed, and continuous introduction of new products further drives the need for SMT in this region.

“Surface mount technology market for inspection equipment expected to grow at the highest rate between 2017 and 2022”

Placement defects can occur both before and after reflow. Thus, inspection equipment plays a vital role in the SMT manufacturing industry. The SMT inspection equipment market is driven by the improving product technology, responsiveness, reliability, and quality of inspection. The increasing need for this equipment in telecom, automotive, consumer electronics, and computing & storage is expected to drive its demand during the forecast period.

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“The market for automotive is expected to grow at the second-highest rate during the forecast period”

The demand for SMT devices has increased due to their ability to meet the needs of the critical systems in the automotive industry with zero defects. The number of electric components used in an electric vehicle is more as compared with any conventional fuel combustion vehicle as former has an electric motor, battery, and other complex connections to ensure optimum utilization of power. Owing to the critical role of electrical components in these electrical vehicles, surface mount devices are used as they are lighter in weight, occupy less space, and are safe and durable over a longer period of time.

“North America expected to hold the second-largest share of the surface mount technology market during the forecast period”

There has been an increasing demand for mobile and internet-connected devices, including smartphones and tablets, in North America. The demand for digital video content has also driven the production of a range of high-performance internet-connected devices and other similar technologies, which have further fuelled the growth of the overall semiconductor industry. Various associations such as ****** Semiconductor Alliance (GSA) (U.S.), Surface Mount Technology Association (SMTA) (U.S.), and Electronics Components Industry Association (ECIA) (U.S.) are working toward the advancement and growth of microelectronics and packaging in the U.S. North America is the second-largest market for consumer electronics and one of the largest markets for electric vehicles. This is expected to drive the growth of the surface mount technology market in North America.

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