Surface Mount Switch Market (Type - Ultra-miniature Surface Mount Pushbutton Switch and Ultra-miniature Surface Mount Toggle Switch; Application - Industrial Control, Medical, and Aerospace and Defense) - Global Industry Analysis, Trend, Size, Share, and Forecast 2016 - 2024
Global Surface Mount Switch Market: Overview
Surface mount switches are advanced form of electrical switches that use the surface mount technology. These kinds of switches are densely arranged on the surface of printed circuit board (PCB) and are installed on both sides of PCBs. Dense arrangement of these components on the surface of PCB leads to the dimensional reduction of PCBs, thus reducing cost of manufacturing and enhancing productivity of electrical components.
Surface mount switches have extensive usage in a diverse range of applications including manufacturing, commercial, industrial, marine, telecommunication, audio and broadcast, healthcare, aerospace, defense among others. This report presents a thorough analysis of the market and its present and potential future growth dynamics. The report analyzes growth trends of surface mount switch market across different regions. Factors that could drive and/or restrain the overall expansion of the market have also been analyzed in the report. Various macroeconomic and microeconomic factors that may influence the market are considered for market analysis.
Global Surface Mount Switch Market: Trends and Opportunities
The rising demand for miniaturized electronics devices is expected to be the leading factors boosting the demand for surface mount equipment. Studies have also ensured that the mechanical performance of surface mounted switches is better under shake vibration condition, which enhances its productivity. During the initial stages, installation cost of surface mounted switches is low as compared to through-hole switches. Owing to all these factors, the demand for surface mount switches has significantly increased in industrial and manufacturing processes in the past few years. Investments in telecommunication sector have increased significantly over the years and the demand for high-speed internet has also increased significantly over the years. These factors could trigger the growth prospect of surface mount switch market on a global scale.
The thriving e-commerce industry has also helped improve the overall global demand for surface mount switches globally. However, the relatively higher costs of advanced surface mount switches as compared to conventional through-hole switches are likely to act as a restraining factor for surface mount switch market.
Global Surface Mount Switch Market: Segmentation
Based on types, the segment of ultra-miniature toggle switches presently holds the largest market share in global as well as regional markets. However, over the forecast period the ultra-miniature pushbutton switches are expected to witness higher growth rate as compared to ultra-miniature toggle switches. Growing popularity of pushbutton switches overtime is due to their smooth functioning and user friendly nature is expected increase their market share during the forecast period.
Geographically, the market in Asia Pacific acquired the dominant share in the global market in 2016 and is expected to retain its dominance during the forecast period. Substantial investment of the emerging economies in infrastructural development and telecommunication coupled with rapid industrialization and increased focus on automation are the factors boosting the demand for surface mounted switches in the region. Emerging economies such as China, India attract huge foreign capital for telecommunication, medical, security, aerospace and defense. This broadens the prospect of surface mount switch market in this region. North America and Europe are also expected to witness stable growth of the surface mount switch market during the forecast period.
The report also presents a comprehensive overview of the competitive dynamics of the global surface mounted switch market. The report includes detailed business profiles some of the leading companies in the market, including Grayhill Inc. (U.S), Omron Corporation (Japan), Hokuriku Electric Industry Co. Ltd. (Japan), C&K components (U.S), and Honeywell International Inc. (U.S).
Global surface mount switch market is segmented as follows;-
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