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Global SMT Placement Equipment Market to Grow 6.46% by 2020
August 25, 2016 | PRNewswireEstimated reading time: 1 minute
Research and Markets has announced the addition of the "Global SMT Placement Equipment Market 2016-2020" report to their offering.
The report forecasts the global SMT placement equipment market to grow at a CAGR of 6.46% during the period 2016-2020.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Increased applications of SMT placement equipment will be a key trend for market growth. The healthcare industry is also undergoing rapid evolution. Earlier, medical instruments involved manual operation processes, which are increasingly being replaced by smart medical devices. All medical instruments are now engineered with sensors, smart display devices, and complex circuit boards to increase the accuracy of prediction. In addition, every aspect of the medical field is being digitized, requiring SMT placement equipment for pick-and-place operations.
According to the report, high demand from EMS companies will be a key driver for market growth. The technological innovations will lead to a demand for electronic manufacturing services companies worldwide, and may spur substantial investments in new production lines. We infer that new investments would warrant further investments in SMT placement equipment, expanding the market during the forecast period.
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