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Surface-Mount Switches Market – Global Industry Size, and Forecast 2024

A method of producing electronic circuits is called Surface-mount technology (SMT). In Surface-mount technology, components are directly placed or mounted onto the surface of printed circuit boards (PCBs). An electronic device made in such a way is called surface-mount devices (SMD). One of such device is the Surface-mount Switches. Presently, surface-mount switches are used in majority of the electronic devices produced using surface-mount technology.
The factors driving the growth of the global Surface-mount switches market are the introduction of new electronic devices, miniaturization, higher speed of production for these devices, and mass-production of electronic hardware devices. Moreover booming electronic contract manufacturing services sector has positively impacted the growth of surface mount switches market. Increasing demand for LED/LCD television sets, mobile phone, CFL and LED lighting, and other consumer electronic devices is expected to raise the demand for surface-mount switches in coming years. Rising demand for more light weight and efficient electronic devices in the field of automation and medical sector is expected to propel the market for surface-mount switches.
Despite of its several advantages, there are certain factors restraining the growth of the Surface-mount Switches market. These includes high cost of surface-mount switches, and the unsuitability of surface-mount switches for high power or high voltage electronic parts. Moreover, repairing the surface-mount switches require very highly skilled personnel and tools.
The surface-mount switches manufacturing industry is mature and intensely competitive. The profit margins in this industry is low with very high entry barriers. There is a need for players in the industry to invest regularly in product innovation to achieve competitive advantage and address changing requirements of consumer electronics industry.
The global surface-mount switches market is segmented on the basis of application, product and geography. By product the surface-mount switches market is sub-segmented as Ultra-Miniature Surface Mount Switches, and Ultra-thin Surface Mount Switches. On the basis of application, the global surface-mount switches market can be sub-divided as medical, automotive, consumer appliances, defense & aerospace, telecommunication, and Industrial Sectors. Among all the above mentioned applications, computing sector, consumer appliances and telecommunication are expected to continues to fuel the demand for surface-mount switches.
By geography the market for surface-mount switches can be categorized as North America, Europe, Middle East and Africa (MEA), and Asia Pacific (APAC). Among the mentioned regions, the market for surface-mount switches in Asia-Pacific is expected to be the fastest growing because of the flourishing electronic contract manufacturing in this part of the world. Additionally, mass production of electronic devices, increasing demand for these products, growing infrastructural development, rapid industrialization, and increasing GDP growth in this region is expected to drive the growth of Surface-mount switches market. The market for surface-mount switches in Latin America is expected to be the close second, in terms of rate of growth of market, followed by Asia-Pacific. The market for surface-mount switches in Europe is adversely affected by their present economic condition, which followed as a result of the Euro-zone financial crisis. However, the European Government has started stressing on the development of manufacturing and hardware industry by aiding the electronic manufacturing industries and innovative star-ups, which is expected to stabilize the market for surface-mount switches in this part of the world.
The key players in the global surface-mount switches market include Fuji Machine Manufacturing Co. (Japan), PPT Vision Inc. (U.S), Nordson Corporation (U.S), Teradyne Inc. (U.S), Koh Young Technology Inc. (South Korea), Juki Automation Systems Inc. (Japan), Assembléon Netherlands BV (Netherlands), Taiwan Surface Mounting Technology Corp. (Taiwan), Heller Industries Inc. (U.S), CyberOptics Corporation (U.S), Glenbrook Technologies Inc (U.S), Speedline Technologies GmbH (Singapore), Saki Corporation (Japan), Hitachi High Technologies Corporation (Japan), JUKI Corporation (Japan), and Panasonic Corporation (Japan).

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