LONDON -- The global market for SMT equipment is projected to top $5.5 billion by 2015, with growth driven by technological advancements, particularly component miniaturization, according to a new research report.

Fully automated screen printers are expected to experience the highest demand, increasingly being driven by mid-range automatic screen printers. Automated screen printer sales in the US are projected to reach $44 million by 2014, Companies and Markets says in the report.

Vision systems are expected to migrate from manual to sensor or structured light-based systems.

By region, Asia-Pacific presents the greatest potential growth opportunities for SMT manufacturers, the report says.