Pin Insertion Machine Market Size Projected to Reach Us$ 270 Million by 2026
Pin Insertion Machine market size is projected to reach US$ 270 Million by 2026, and it is estimated to grow at around CAGR 5.6% during 2021-2026.Increasing penetration of digitization, electronic mobility leveraging IoT enabled connected portable devices including high end smartphones, smart wears and the rising demand for miniaturization of electronic products are the major factors driving the demand for pin insertion machines to facilitate efficient and seamless electronic component assembly. Growth in hyperscale data centers raising the need for electronic products such as touchscreen panel, LED monitors and motherboards is accelerating the demand for pin insertion machines in printed circuit board (PCB) assembly lines to offer high accuracy PCB systems with robust and reliable electrical connections. The growing adoption of evolving technologies in automotive sector such as advanced driver assistance system (ADAS), intelligent parking assistance systems are continuously creating the requirement of more electrical interconnections within a smaller packaging space and thus contributing to the Pin Insertion Machine market growth.