According to TechSci Research report, “Saudi Arabia Surface Mount Technology Market – By Region, Competition, Forecast and Opportunities, 2019-2029F”, the Saudi Arabia Surface Mount Technology Market was valued at USD 352.10 million in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 7.12% through 2029.
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A major factor driving the growth of the Surface Mount Technology (SMT) market in Saudi Arabia is the government’s industrial diversification efforts. Through initiatives like Saudi Vision 2030, the government has been actively working to reduce the nation’s reliance on oil by fostering the development of its technology and electronics manufacturing sectors. SMT, as an integral part of this strategy, benefits from various government policies designed to stimulate growth. These include tax incentives, reduced import tariffs on SMT equipment, and support for research and development in the sector. Such initiatives not only boost the local SMT market but also attract both foreign and domestic investments, encouraging global technology companies to set up operations in the Kingdom. The government’s support creates a favorable environment for businesses to thrive, driving technological innovation and creating job opportunities within the sector.
Another key driver of the Saudi Arabian SMT market is the rapid growth of the country’s electronics manufacturing industry. There has been a consistent rise in local and regional demand for electronic products across various sectors, such as consumer electronics and automotive components. Saudi Arabia’s strategic location and commitment to developing a competitive manufacturing sector have made it an attractive destination for both international and local companies seeking to expand their electronics production. As SMT is essential for assembling electronic components onto printed circuit boards (PCBs), the expanding electronics manufacturing sector directly boosts the demand for advanced SMT equipment, materials, and services. This growing demand is expected to further strengthen the SMT market in Saudi Arabia, both for domestic consumption and regional exports.
The “Saudi Arabia Surface Mount Technology Market” is analyzed in detail across multiple data figures and a comprehensive table of contents (TOC), covering various aspects of the market.@https://www.techsciresearch.com/report/saudi-arabia-surface-mount-technology-market/21703.html
The market is segmented by type, application, and region.
In terms of application, the Telecommunications sector held the largest market share in 2023. Telecommunications plays a crucial role in Saudi Arabia’s rapidly expanding digital economy, driven by an increase in mobile and internet usage, especially among the young, tech-savvy population. The growing demand for communication devices such as smartphones, routers, and network equipment has led to a significant need for SMT technology. Saudi Arabia has been heavily investing in its telecommunications infrastructure, particularly the development of 4G and 5G networks. The creation and maintenance of these advanced networks require a broad range of electronic components, many of which are produced using SMT processes.
Furthermore, the convergence of consumer electronics with telecommunications devices, such as smartphones that combine mobile phone features with cameras, gaming devices, and more, increases the complexity of electronic components. These components are often assembled using SMT technology. The Saudi government has been encouraging local manufacturing and assembly across various industries, including electronics, which likely contributes to the growth of domestic production facilities for telecommunications devices. With global telecommunications companies expanding their operations within Saudi Arabia, the demand for SMT services for telecom products continues to rise. This growing demand positions telecommunications as a dominant sector within the SMT market, offering local manufacturers opportunities to scale and gain a competitive edge by providing specialized SMT services tailored to the telecom industry.
Key market players in the Saudi Arabia Surface Mount Technology Market are:-
Fuji Corporation
Yamaha Motor Co. Ltd
Mycronic AB
ASM Assembly Systems GmbH & Co. KG
Panasonic Corporation
Nordson Corporation
Juki Corporation
Hanwha Corporation
Zhejiang Neoden Technology Co. Ltd
Electronic Manufacturing Services Group Inc.
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“The Saudi Arabia Surface Mount Technology Market is anticipated to rise in the upcoming years. The market is driven by the increasing demand for electronic devices and the growing adoption of SMT in various industries. The market is also expected to benefit from the government’s initiatives to promote the growth of the electronics industry in the country. SMT is increasingly being adopted in a variety of industries in Saudi Arabia, including consumer electronics, automotive, aerospace & defense, and healthcare. The increasing demand for smaller and lighter electronic devices, such as smartphones, wearables, and IoT devices, is driving the growth of the SMT market in Saudi Arabia. The Saudi Arabian government is taking a number of initiatives to promote the growth of the electronics industry in the country. These initiatives are expected to boost the demand for SMT in Saudi Arabia. Also, Central Region is expected to remain the largest SMT market in Saudi Arabia, followed by the Eastern Region, Western Region, and Southern Region. Therefore, the market is expected to boost in the upcoming years”, said Mr. Karan Chechi, Research Director of TechSci Research, a research-based global management consulting firm.
“Saudi Arabia Surface Mount Technology Market By Type (Coating Equipment, Inspection, Pick and Place, Solder Equipment, Cleaning Agents, Rework, Repair Equipment), By Application (Telecommunication, Consumer Electronics, Automotive, Aerospace & Defense, Healthcare), By Region, Competition, Forecast and Opportunities, 2019-2029F”, has evaluated the future growth potential of Saudi Arabia Surface Mount Technology Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Saudi Arabia Surface Mount Technology Market.
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