Surface Mount Switch Market - Snapshot
According to a new market report published by Transparency Market Research titled ‘Surface Mount Switch Market– Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026,’ the global surface mount switch market is expected to reach US$ 6,480.7 Mn in 2026. The market is projected to expand at a CAGR of 8.30% during the forecast period from 2018 to 2026. According to the report, the global surface mount switch market will continue to be influenced by the thriving consumer electronics industry, especially in China. The market in Asia Pacific is projected to be at the forefront of global demand. The market in the region is likely to expand at a CAGR of 9.41% throughout the forecast period.
The Ultra-miniature Surface Mount Pushbutton Switch Segment is Likely to Expand Rapidly
Based on product, the global surface mount switch market has been segmented into ultra-miniature surface mount pushbutton switch and ultra-miniature surface mount toggle switch. The ultra-miniature surface mount toggle switch segment accounted for a major revenue share in 2017 because of the low price of the switch and its widespread adoption for various applications. The ultra-miniature surface mount pushbutton switch segment is anticipated to expand at a rapid CAGR, owing to rapid uptake of the switch in industrial and medical applications.
Consumer Electronics Segment to Witness Robust Growth during the Forecast Period
In terms of application, the surface mount switch market has been segmented into industrial control, medical, telecommunications, aerospace and defense, and others. The consumer electronics segment is expected to expand at a rapid pace throughout the forecast period. This can be attributed to the thriving consumer electronics industry, especially in emerging economies such as India and China. The consumer electronics segment is expected to expand at a rapid CAGR of 9.37% during the forecast period.
Asia Pacific Expected to Continue to Hold Significant Share in the Overall Market
Asia Pacific is projected to constitute a significant share of the surface mount switch market during the forecast period. This is primarily due to an increase in demand for surface mount switches from industrial consumers in the region and a robust consumer electronics industry.
A rise in the middleclass population in the region has led to an increase in the disposable income of individuals, especially from emerging economies such as China and India. This has boosted demand for consumer electronic goods that employ surface mount switches. According to the International Bureau of Statistics, China’s per capita income rose 6.6% year-on-year in July 2018. Furthermore, according to the World Economic Forum (WEF), the middle class population in India is expected to surpass that of China, Europe, and the U.S. in 2027.
Middle East & Africa is witnessing a steady increase in investments by electronics component providers. This represents significant growth opportunities for the surface mount switch market.
Key players operating in the market are NKK Switches Co. Ltd., C&K Components, Omron Corporation, Hokuriku Electric Industry Co. Ltd., Panasonic Corporation, E-Switch Inc., Honeywell International Inc., Grayhill Inc., APEM Inc., and Bourns Inc., among others. Details such as financials, business strategies, recent developments, product implementation expertise, key contracts, certified professionals, gas meter offerings, and other such strategic information pertaining to these players have been provided as part of company profiling.
Surface Mount Switch Market - Overview
This comprehensive report by Transparency Market Research analyzes the market for the period 2016–2026, wherein 2018 to 2026 is the forecast period and 2017 is considered as the base year. Data for 2016 has been included as historical information. The report covers all the trends and technologies that play a major role in the growth of the surface mount switch market over the forecast period. It highlights the drivers, restraints, and opportunities expected to influence the market growth during this period. The study provides a holistic perspective on the market’s growth in terms of revenue (in US$ Mn) across different geographical regions, namely North America, Europe, Asia Pacific, Middle East & Africa, and South America. The report highlights the key trends affecting the market on a global scale. Furthermore, prominent countries/sub-regions covered in the report include the U.S, Canada, Germany, France, the U.K, India, China, Japan, GCC countries, South Africa, and Brazil.
Global Surface Mount Switch Market: Overview
The report comprises a detailed ecosystem analysis, which provides a comprehensive view of the global surface mount switch market. Porter’s Five Forces model has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein end-users are benchmarked based on their market size, growth rate, and general attractiveness.
Global Surface Mount Switch Market: Taxonomy
This research study on the global surface mount switch market provides a detailed cross segment and cross country analysis based on different segments classified based on product and application. Based on product, the surface mount switch market has been segmented into ultra-miniature surface mount toggle switch and ultra-miniature surface mount pushbutton switch. byThe surface mount switch segment is expected to expand at a rapid rate throughout the forecast period. In terms of application, the surface mount switch market has been classified into industrial control, medical, aerospace & defense, telecommunication, consumer electronics, and others.
Global Surface Mount Switch Market: Research Methodology
Secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings, internal and external proprietary databases and relevant patent and regulatory databases, national government documents, statistical databases, market reports, news articles, press releases and webcasts specific to companies operating in the market, national government documents, statistical databases and market reports, and Factiva.
Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with end-use participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on the market size, market trends, growth trends, competitive landscape, and outlook. They help us validate and strengthen secondary research findings. They also help develop the analysis team’s market expertise and understanding.
Global Surface Mount Switch Market: Competitive Dynamics
The report covers well-established players, including NKK Switches Co. Ltd., C&K Components, Omron Corporation, Hokuriku Electric Industry Co. Ltd., Panasonic Corporation, E-Switch Inc., Honeywell International Inc.,Grayhill Inc., APEM Inc., and Bourns Inc. These established players are engaged in the development and introduction of innovative surface mount switches for consumers from a number of end-user industries such as consumer electronics, automotive, and medical, among others. For instance, in August 2018, C&K Components, a prominent provider of electromechanical switches, launched KSC PF switch. The product is an advanced switch solution for designers in the automotive and medical industries. It is compact, yet resilient to water ingress. These switches can withstand harsh environments, which makes them an excellent choice for the automotive and medical industries.
The surface mount switch market has been segmented as below:
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