Potential Impact of COVID-19 on SMT Inspection Equipment Market

SMT stands for Surface Mount Technology. Widespread usage of this technology in PCB (Printed Circuit Boards) assembly has resulted in continued down-sizing of components.
This constant miniaturizing of electronic components and its advanced packaging with finer lead pitches coupled with growing component densities have been driving the demand for advanced SMT inspection systems in order to accurately identify the defects in PCB assemblies
At the same time, newly emerging manufacturing assembly lines equipped with higher production rates are also fuelling the need for highly effective testing equipment.
Some of the quality standards required for electronic devices include IPC, and ANSI-JSTD Apart from the conventional electric tests such as in-circuit test (ICT), other SMT inspections include AOI (Automatic Optical Inspection), and automatic X-ray inspection.

Rapidly evolving AOI technology to drive the demand for AOI equipment, subsequently driving the global SMT inspection equipment market

AOI systems are used for inspection of the quality of electronic devices at each stage of their manufacturing process
The AOI inspection method is relatively faster, more accurate, and more cost effective. Hence its demand in the coming years is expected to remain highly promising.
AOI system providers are also evolving at a speedy pace owing to a rapidly transforming industry. This has attracted several manufacturers to invest in procurement of AOI systems, which would not only allow them to maintain the quality of their products but also comply with superior quality standardizations

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Market Growth Opportunities Aligned with Rising Automotive and Electronics Industry

Rapidly growing automotive and electronics industry in developing nations are projected to offer the SMT inspection equipment market with promising growth opportunity during the forecast period
Modernization trend in the automotive industry and amalgamation of PCBs in vehicles is likely to foster the demand for compliant SMTs in the industry, which in response is expected to generate demand growth opportunity for SMT inspection equipment providers

Lack of Skilled Workforce a Major Challenge to the Market

Vendors in the SMT industry face critical challenges in terms of adoption of latest technological updates and at the same time comply with its dynamic regulatory ecosystem
Moreover, in case of lack of aptly skilled professionals, vendors are likely to face the threat of not being able to deliver desired results to their end customers. This might impede the adoption of SMT inspection equipment.

Asia Pacific to Hold Leading Share of the Global SMT Inspection Equipment Market

In terms of geography, the global SMT inspection equipment market can be divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America
Country and sub-region level analysis of North America features the U.S., Canada, and Rest of North America. Analysis and forecast of the SMT inspection equipment market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the market analysis and forecast of GCC, South Africa, and Rest of Middle East & Africa. The SMT inspection equipment market in South America is segmented into Brazil and Rest of South America.
Asia Pacific dominated the global market in 2018, owing to presence of leading industry players as well as an exponentially growing automotive industry across China, Japan, India, and South Korea
The market in Asia Pacific is projected to expand at a rapid pace, followed by Europe and North America during the forecast period

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Key Players Operating in the SMT Inspection Equipment Market

The global SMT inspection equipment market is highly competitive, owing to the presence of several global and regional players. Major players are adopting various strategies such as regional expansion and product portfolio expansion to consolidate their position in the market. A few key players operating in the global SMT inspection equipment market are: