Surface Mount Technologies Market Insights Video

According to Cognitive Market Research, the global Surface Mount Technologies market size is USD 6124.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 7.60% from 2024 to 2031.

• North America held the major market share for more than 40% of the global revenue with a market size of USD 2449.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.8% from 2024 to 2031.
• Europe accounted for a market share of over 30% of the global revenue with a market size of USD 1837.26 million.
• Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 1408.57 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.6% from 2024 to 2031.
• Latin America had a market share for more than 5% of the global revenue with a market size of USD 306.21 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.0% from 2024 to 2031.
• Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 122.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.3% from 2024 to 2031.
• The Inspection Equipment held the highest Surface Mount Technologies market revenue share in 2024.