Published Date : Jul 23, 2018
ALBANY, New York, July 23, 2018: The recent report added to MarketResearchReports.biz, titled “Surface Mount Switch Market - Global Industry Analysis, Trend, Size, Share, and Forecast 2017 - 2024”, shows the detailed reports for decision makers. The surface mount technology is used for manufacturing various electronic products nowadays. Thus, the increasing use of electronic devices has expanded the need for surface mount switches. The surface mount switches have high competitive market. Furthermore, the industry have strict entry barriers that restricts the innovation and competition in the surface mount switch market. Stringent market entry has also decreased the profit margins for the players.
The high demand for mobile phones, tablets, laptops, television sets, CFL and LED lightings, and various other electronic devices will further raise the demand for surface mount switch market in the coming years. Electronic devices that use surface mount technology are produced at lower cost and have the ability to deliver higher level of mechanization. Additionally, rise of e-commerce platform has also expanded the reach of small and medium companies to sell their electronic items to the larger customer base.
The global surface mount switch market is classified in terms of application, product type, and geography. The product type is further bifurcated into ultra-miniature surface mount toggle switch and ultra-miniature surface mount pushbutton. Among these, ultra-miniature surface mount toggle switch is estimated to hold the leading position in the global market. In terms of application the market is segmented into industrial control, medical, defense and aerospace, and others. Other segment is expected to acquire more than half of the market during the forecast period.
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The geographical reports for the global surface mount switch market is done on the basis of North America, Europe, Asia Pacific (APAC), and Middle East and Africa (MEA). Among these regions, Asia Pacific is expected to boost the demand for surface mount switches due to flourishing electronic contract manufacturing. Moreover, the demand for surface mount switch market will increase due to increasing advancements in industrial sector and constant development for infrastructural expansions. Growing GDP in the emerging economies have also increased the demand for surface mount switches in Asia Pacific. Latin America has also shown significant efforts to improve the surface mount switch market in percentage of growth after Asia Pacific.
Companies making significant contribution in the global surface-mount switches market are Heller Industries Inc., Fuji Machine Manufacturing Co., Koh Young Technology Inc., PPT Vision Inc., Nordson Corporation, Taiwan Surface Mounting Technology Corp., Teradyne Inc., Juki Automation Systems Inc., Speedline Technologies GmbH, Saki Corporation, Assembléon Netherlands BV, CyberOptics Corporation, Glenbrook Technologies Inc, JUKI Corporation, Hitachi High Technologies Corporation, and Panasonic Corporation.
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