The Latin America, Middle East and Africa Surface Mount Technology Market would witness market growth of 10.8% CAGR during the forecast period (2022-2028).
High-frequency applications, thermal management, and stress on the PCB from an incompatible coefficient of thermal expansion are some variables that must be considered when designing the device. The traditional incandescent and fluorescent light sources have been replaced by LEDs. LED lighting has a far longer lifespan and higher power efficiency than incandescent and fluorescent bulbs. The advantages of LEDs' attributes, namely their compact size and low consumption of electricity, are being reaped by the electronics manufacturing sector.
Its business will greatly benefit from the rising demand for integrated modules like system-on-a-chip and multichip. As a result of their central role in the electronics sector, automation will benefit the industry's growth. These products' affordable prices, high levels of availability, and quick turnaround times provide the makers with a sizable profit and boost the market's overall revenue.
In addition, electronic sound equipment has become increasingly prevalent in hospitals and clinics to aid in the early diagnosis of illnesses as well as their efficient treatment and management. A fast rise in the number of end-user industries has occurred with the introduction of advanced electronic sound components. Moreover, the expanding usage of integrated circuits that contain passive components also increase the demand for surface mount technology devices.
The region's expanding tourist industry and ex-pat community primarily fuel the market. In Israel, numerous large-scale shopping centers and malls are currently being built due to investments made by the public and private sectors in infrastructure development to support the country's expanding population, burgeoning tourism industry, and rising per capita GDP. Additionally, this has led to demand for numerous lightning systems that use SMT, as well as machinery and equipment that aid in establishing infrastructure. Thus, it is anticipated that the regional demand for various consumer products will drive the growth of the surface mount technology market throughout the forecast period.
The Brazil market dominated the LAMEA Surface Mount Technology Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $126.2 million by 2028. The Argentina market is experiencing a CAGR of 11.4% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 10.5% during (2022 - 2028).
Based on Industry, the market is segmented into Consumer Electronics, Telecommunication, Aerospace & Defense, Industrial, Medical, Automotive and Energy & Power Systems. Based on Equipment, the market is segmented into Placement Equipment, Inspection Equipment, Soldering Equipment, Screen Printing Equipment, Cleaning Equipment and Repair & Rework Equipment. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Surface Mount Technology Market is Projected to reach USD 8.6 Billion by 2028, at a CAGR of 8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Nordson Corporation, KLA Corporation, Yamaha Motor Co., Ltd., Juki Corporation, Viscom AG, Hitachi High-Tech Corporation (Hitachi, Ltd.), Saki Corporation, Electro Scientific Industries (MKS Instruments, Inc. ), Fuji Machinery Co., Ltd. and Mycronic AB.
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