Surface Mount Switch Market Insights, Growth, Export Value, Sales, Pricing Forec

Posted by Sakshi Mishra on December 30th, 2019

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 was valued at US$ 3,173.05 Mn in 2017 and is expected to expand at a CAGR of 8.30% from 2018 to 2026, to reach US$ 6,480.7 Mn by the end of the forecast period.

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Expansion in the Consumer Electronics Industry across the Globe to Propel the Surface Mount Switch Market

The global consumer electronics industry is likely to expand at a robust rate in the coming years. As per estimates of the Consumer Technology Associations (CTA), revenue in the U.S. consumer electronics industry rose 3.2% in 2017 over 2016. Revenues from the industry were valued at US$ 321 Bn in 2017. Rise in demand for smartphones and the small replacement cycles of electronics devices are fuelling the consumer electronics industry across the globe. Consumer electronic devices are one of the primary users of surface mount switches. Therefore,  a rise in demand for consumer electronics across the globe is a significant growth driver for the surface mount switch market.

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Sakshi Mishra

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Sakshi Mishra
Joined: July 22nd, 2019
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