PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1944479
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1944479
The Surface Mount Technology Market size was valued at US$6,294.65 Million in 2024, expanding at a CAGR of 5.91% from 2025 to 2032.
Surface Mount Technology (SMT) is an electronic manufacturing method which involves mounting surface-mount devices (SMDs) directly onto the printed circuit board (PCB) surface without using holes. The technology provides three benefits which include greater component density and reduced circuit size together with better electrical performance because of its shortened interconnection paths. The automated high-speed assembly processes of SMT include solder paste printing and pick-and-place and reflow soldering which make the technology appropriate for use in mass production. The efficiency and reliability of SMT together with its capacity to handle miniaturized complex circuits have made it a standard technology across multiple fields which include consumer electronics automotive telecommunications industrial automation medical devices and aerospace.
Surface Mount Technology Market- Market Dynamics
Growth in IoT, Edge & Intelligent Devices
The development of IoT and edge and intelligent device technologies requires compact and high-performance and energy-efficient electronic assemblies which drive industry growth. The demand for printed circuit boards with high component density has increased because smart sensors and connected appliances and wearable devices and edge computing hardware are being adopted rapidly. Surface mount technology enables designers to achieve accurate component placement while creating high product integration and maintaining reliable operation for devices that need to operate in small spaces which makes this technology suitable for IoT and intelligent systems. The deployment of connected and autonomous devices has reached large-scale use in smart manufacturing and smart cities and healthcare monitoring and industrial automation which creates a demand for advanced electronic manufacturing solutions that enable continuous growth in the industry.
By Application
In 2024, the consumer electronics segment holds the largest market share. The expanding consumer electronics sector serves as the primary reason for industry growth because it includes multiple end-use applications of the sector. The compact design requirements of modern consumer devices which include smartphones and tablets and laptops and wearables and smart home gadgets and portable gaming systems need high-performance circuit assemblies that traditional through-hole methods cannot provide. The use of SMT technology enables manufacturers to create electronic products which require smaller size and higher performance while maintaining operational safety and performance standards which modern consumer electronics need. The electronics OEMs are currently investing in automated SMT equipment and production lines because consumers demand advanced features and faster performance and sleeker design which enables them to create more revenue. The strong revenue growth in the SMT market results from two main factors which include the increasing availability of consumer electronics and the current trend toward smaller device sizes.
Surface Mount Technology Market- Geographical Insights
North America leads the industry. The North American market has major surface mount technology companies, which include CyberOptics and Naprotek, LLC. and Teradyne, Inc., among other companies. The main companies in the market pursue strategic expansion through their acquisition of other companies and their introduction of new products. GJD established a pact to acquire Hanwha Techwin SM482 plus SMT equipment. The new equipment will implement high-speed automated systems throughout the complete electronic assembly process, which will enhance operational efficiency and decrease GJD's carbon emissions. The internet streaming content market has created a need for companies to produce advanced internet-enabled devices and related technologies, which has resulted in the semiconductor industry growth throughout the entire region.
The SMT market shows a competitive landscape which exists between two extremes of market concentration because two major global equipment OEMs control the market for high-end placement and printing and inspection systems while multiple regional and budget-friendly suppliers provide services to contract manufacturers and smaller OEMs. The major global companies that operate in this market include ASM Pacific Technology (ASMPT) and FUJI (Fuji Kikai) and Yamaha and Panasonic and JUKI and Hanwha Precision Machinery and Mycronic and Universal Instruments / Kulicke & Soffa and Nordson (inspection/dispense) and Koh Young (inspection). The vendors compete with one another based on four main factors which include placement speed and accuracy and machine uptime and integrated inspection (AOI/3D SPI) and software/Industry-4.0 connectivity and after-sales service.
In January 2025, ASM International posted EUR 839.2 million revenue, up 26% YoY, on AI-chip deposition demand, securing 53.4% gross margin.
In November 2024, ViTrox opened a Mexico demo center showcasing V510i 3 D AOI and V310i SPI lines, enlarging local workforce.