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Surface Mount Technology Market worth 4,730.5 Million USD by 2020

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The #surfacemounttechnology 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.

#Consumerelectronics 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.

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The major players in this market include Nordson Corporation (U.S.), Mycronic AB (Sweden), Fuji Machine Manufacturing Co., Ltd. (Japan), Electro Scientific Industries Inc. (U.S.), and Orbotech Ltd. (Israel), Hitachi High Technologies Corporation (Japan), Viscom AG (Germany), Juki Corporation (Japan), CyberOptics Corporation (U.S.), and ASM Assembly Systems GmbH & Co. KG (Germany).
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