Surface Mount Switch Market to Witness Widespread

Expansion During 2024

The global surface mount switch market features a largely fragmented competitive
landscape, wherein the top five companies accounted for nearly 46% of the overall
market in 2015, observes a recent report by Mindaspire Market Research (MAMR).
These top companies, namely Omron Corporation, NKK Switches Co. Ltd, E-Switch
Inc., Grayhill Inc., and C&K Components, have adopted the course of strategies such
as expansion of production units, product innovation, and acquisitions and mergers to
stay ahead of the competition.

Owing to the rapid development of the global surface mount switch market, a number
of new players have forayed into the market by acquiring niche product
manufacturers. A number of existing players have also entered into strategic
collaborations or have acquired smaller firms to make the most of the existing growth
opportunities and remain competitive in the market. This has enhanced the capital
base for companies, enabling them to invest higher amounts in research and
development activities and strengthen their hold on the market.

Request for a sample of report @

https://mindaspiremarketresearch.com/request-sample/report/surface-mount-switch-
market-global-industry-analysis-size-sales-and-forecast-by-2024

Most of the key manufacturers of surface mount switches are located in Asia Pacific,
North America, and Europe. This has limited the potential of the market from
reaching regions such as Latin America and Africa. This could be a viable incremental
growth opportunity for new entrants, especially in Latin America, wherein the
flourishing telecommunication sector will lead to a vast rise in demand for a variety of
electronics components in the next few years.

Growth in Key End-use Sectors to Keep Demand across Asia Pacific Strong

According to MAMR, the global surface mount switch market was valued at
US$3360.0 mn in 2017 and is expected to reach US$5860.0 mn in terms of revenue
by 2024, exhibiting at a CAGR of 8.2% By 2024. In terms of product type, the
segment of ultra-miniature surface mount toggle switch presently constitutes the bulk
of market’s overall revenue and is expected to exhibit strong growth over the forecast
period as well. Geographically, due to strong growth in industries such as automotive,
electronics, and telecommunication, the Asia Pacific market is expected to remain
dominant throughout the forecast period.

Rising Demand for Electronics Goods to Help Market Retain Healthy Growth

The vast rise in the global consumption of electronics goods such as smartphones,
tablets, computers, and laptops has been one of the key drivers of the global surface
mount switches and will continue to have a strong impact on the market’s future
growth prospects. The electronics goods industry consumes vast volumes of
electronics hardware that utilize the extensive usage of surface mount technology.

The use of surface mount switches instead of through-hole devices grants the
hardware an improved level of mechanization and also significantly reduced the cost
of manufacturing. The potential rise in adoption of surface mount switches across the
electronics goods industry owing to these factors will have a significant positive
impact on the overall development of the market in the next few years.

Get the Table Of Contents @

https://mindaspiremarketresearch.com/inquire/report/surface-mount-switch-market-
global-industry-analysis-size-sales-and-forecast-by-2024

Higher Costs and Relative Unsuitability for Mechanical Stresses to Hinder

Market Growth
On account of the small size, better performance, and cost effectiveness of surface
mount switches, when the overall cost of the end-product is considered, have led to
their increased usage across a number of application areas; analysts have estimated
that surface mounted switches are replacing through-hole switches in about 90% of
new-age electronic hardware.

However, surface mount switches are comparatively costlier than through-hole

switches. Also, surface mount switches face limited competency when subjected to
special electrical, mechanical, and thermal conditions, making through-hole switches
relevant to a wide range of applications and for a number of cost-sensitive end-
product varieties. Moreover, electromechanical surface mount RF switches are known
to have lower operating lifetimes than solid state switches.

Key Takeaways;

 Ceaseless consumption of electronic goods stokes demand

 Advantages of surface mount switch to enhance mechanization of hardware
and reduced cost of manufacturing boosts adoption.

The global surface mount switch market is segmented as follows;

Global Surface Mount Switch Market, By Type

 Ultra-Miniature Surface Mount Pushbutton Switch

 Ultra-Miniature Surface Mount Toggle Switch

Global Surface Mount Switch Market, By Application

 Industrial Control
 Medical
 Aerospace and Defense
 Others

Global Surface Mount Switch Market, By Geography

 North America
o The U.S.
o Canada
o Mexico
 Europe
o The U.K.
o Italy
o Germany
o France
o Rest of Europe
 Asia Pacific
o India
 o China
o Japan
o Rest of Asia Pacific
 Latin America
o Brazil
o Argentina
o Rest of Latin America
 Middle East and Africa (MEA)
o E
o South Africa

Rest of Middle East and Africa

Browse Same Category Report Database @

https://mindaspiremarketresearch.com/categories/electronics-and-
semiconductor/reports

Table of Content

Chapter 1 Preface

1.1 Report Scope & Market Segmentation

1.2 Research Highlights

Chapter 2 Assumption and Research Methodology

Chapter 3 Executive Summary

Read More
About Us

Mindaspire Market Research provides an exhaustive list of market research

reports from hundreds of publishers worldwide. We are one of the top resellers
in market research industry. Mindaspire Market Research comprehends your
business goals and needs and bridge the gap by delivering you with the most
appropriate and suitable solutions. Hundreds of large and small organizations
across virtually every industry sector worldwide are currently reaping rich
dividends from the sharp insights provided by market research reports sourced
through Mindaspire Market Research.

Contact Us

David F.

Mindaspire Market Research

9451 Lee Hwy Fairfax,

Virginia - 22031, USA

United States

Email: sales@mindaspiremarketresearch.com/
info@mindaspiremarketresearch.com

Website: https://mindaspiremarketresearch.com

Follow us on linkedIn:https://www.linkedin.com/company/mind-aspire-market-
research/?viewAsMember=true