Market Insight-Global SMT Inspection Equipment Market Overview
The Global SMT Inspection Equipment Market Size was estimated at USD 915.81 million in 2021 and is projected to reach USD 1316.24 million by 2028, exhibiting a CAGR of 5.35% during the forecast period– Bossonresearch.com
As the core technology used in modern electronics manufacturing business, new materials, new technology and new equipment concerning SMT (Surface Mount Technology) assembly constantly emerge with assembly density going up, pin count rising and pitch down. Additionally, more SMDs (Surface Mount Devices) depend on visionless pins as package.
All the changes mentioned above bring forward higher requirement on inspections and tests applied in SMT assembly process and it’s increasingly more significant to set inspection and test procedures and pick up inspection technologies during SMT assembly.
This constant miniaturizing of electronic components and its advanced packaging with finer lead pitches coupled with growing component densities have been driving the demand for advanced SMT inspection systems in order to accurately identify the defects in PCB assemblies
At the same time, newly emerging manufacturing assembly lines equipped with higher production rates are also fuelling the need for highly effective testing equipment.
Some of the quality standards required for electronic devices include IPC, and ANSI-JSTD Apart from the conventional electric tests such as in-circuit test (ICT), other SMT inspections include AOI (Automatic Optical Inspection), and automatic X-ray inspection.
According to Bosson Research, the global SMT Inspection Equipment market size is projected to reach US$ 1316.24 Million by 2028, from US$ 915.81 Billion in 2021, at a CAGR of 5.35% during 2022-2028.
Figure Global SMT Inspection Equipment Market Size
Source: Bossonresearch.com, 2022
Major factors that are expected to boost the growth of the surface mount technology (SMT) equipment market in the forecast period are the upsurged demand for miniaturized consumer electronics products and the growing adoption of electric vehicles. On the other hand, increase
in the investment price of the machinery for setting up production units and the increase in the frequency and the demand for thermal management are further anticipated to impede the of the surface mount technology (SMT) equipment market in the timeline period.
In addition, the increasing integration of biometrics and security in consumer electronics devices and medical devices and the growing demand for led lighting will further provide potential opportunities for the growth of the surface mount technology (SMT) equipment market in the coming years. However, the appearance of new assembly techniques such as 3d printing and embedded components, difficulties in repair, rework, and the dependability for surface mount technology manufactured Pcbs might further challenge the growth of the surface mount technology (SMT) equipment market in the near future.
Asia Pacific to Hold Leading Share of the Global SMT Inspection Equipment Market
In terms of geography, the global SMT inspection equipment market can be divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America
Country and sub-region level analysis of North America features the U.S., Canada, and Rest of North America. Analysis and forecast of the SMT inspection equipment market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the market analysis and forecast of GCC, South Africa, and Rest of Middle East & Africa. The SMT inspection equipment market in South America is segmented into Brazil and Rest of South America.
Asia Pacific dominated the global market in 2018, owing to presence of leading industry players as well as an exponentially growing automotive industry across China, Japan, India, and South Korea
Market Growth Opportunities Aligned with Rising Automotive and Electronics Industry
Rapidly growing automotive and electronics industry in developing nations are projected to offer the SMT inspection equipment market with promising growth opportunity during the forecast period
Modernization trend in the automotive industry and amalgamation of PCBs in vehicles is likely to foster the demand for compliant SMTs in the industry, which in response is expected to generate demand growth opportunity for SMT inspection equipment providers
The global SMT inspection equipment market is highly competitive, owing to the presence of several global and regional players. Major players are adopting various strategies such as regional expansion and product portfolio expansion to consolidate their position in the market.
Key players in the SMT Inspection Equipment Market include:
•Koh Young
•Test Research (TRI)
•Viscom AG
•Mirtec
•Parmi
•SAKI Corporation
•Pemtron
•ViTrox
•Jutze Intelligence Tech
•Yamaha
•Omron
•CyberOptics
•Nordson
•Aleader
•CKD Corporation
•GOPEL Electronic
•Shenzhen JT Automation Equipment
•Mycronic
•Mek (Marantz Electronics)
•ZhenHuaXing Technology
•Machine Vision Products(MVP)
•Shanghai Holly
•Sinic-Tek Vision Technology
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