Report: PCB Market Size to Grow by $19.05 Billion from 2022 to 2027
March 7, 2024 | PRNewswireEstimated reading time: 2 minutes
The printed circuit board (PCB) market is set to grow by USD 19.05 billion from 2022 to 2027. The market is estimated to be progressing at a CAGR of 5.05% during the forecast period. The rising industry automation is an emerging trend shaping the market. There is increasing adoption of automation across industries as several desktops and machines are being set up for more effective and efficient control systems. As a result, several industries are forced to adapt to automation to sustain the competition in the market, as automation offers them optimum efficiency in productivity, operation costs, product quality, and safety. But due to the increasing adoption, optimum power consumption can be a significant challenge. Hence PCBs are increasingly adopted across industries to ensure efficient power consumption within the minimal size of the application. One of the main functionality of PCBs includes withstanding peak temperatures and voltages. Hence, such factors are expected to drive market growth during the forecast period.
The rising adoption of smartphones
Factors such as the availability of low-cost smartphones and growing global Internet penetration are expected to fuel the adoption of smartphones globally. Furthermore, developing economies like India and China are becoming significant emerging markets for smartphones due to the rising disposable income of people and growing population. Additionally, there is an increasing advancement in smartphone technology from G LTE to 5G, with RF front-ends using up more space in 5G smartphones. Hence, such factors are expected to drive market growth during the forecast period.
Analyst Review
The Printed Circuit Board (PCB) market is experiencing a significant transformation, driven by technological advancements and the rapid proliferation of 5G, Internet of Things (IoT), and Artificial Intelligence. These innovations are reshaping various sectors, including Consumer Electronics, Industrial Internet of Things (IIoT), and End-User Industries.
The advent of 5G technology is propelling the demand for PCBs in Smartphones, Tablets, and other Smart Devices, as they require high-performance PCBs to handle the increased data transfer speeds and connectivity. Moreover, the rise of IoT and Internet of Vehicles is leading to an exponential growth in PCB usage in Wearable Devices, Airplane Cockpit Instruments, and MRI Systems.
As the demand for Consumer Electronics continues to soar, PCB manufacturers are facing challenges related to Miniaturization and Design Complexities. To address these challenges, the industry is focusing on Integrated Manufacturing processes and collaborating with Design and Engineering Partners to develop innovative solutions.
However, the rapid evolution of electronics also raises concerns about Electronic Waste and Hazardous Materials such as Lead, Mercury, Cadmium, and Brominated Flame Retardants present in PCBs. Efforts are being made to mitigate environmental impact through initiatives like CSIL (Circular Supply-Chain Initiative for Lead-Free Electronics).
In response to the growing demand for high-quality PCBs, suppliers are enhancing their Electronic Components and PCB Power capabilities to meet the requirements of OEMs and various industries. This has led to a surge in PCB Sales across the globe, contributing to the resilience of the Global Economy.
In conclusion, the PCB market is witnessing dynamic changes fueled by advancements in technology and the increasing integration of electronics in everyday life. With a focus on innovation, sustainability, and collaboration, the industry is poised for continued growth and development in the years to come.
Suggested Items
HBM Prices to Increase by 5–10% in 2025, Accounting for Over 30% of Total DRAM Value
05/06/2024 | TrendForceAvril Wu, TrendForce Senior Research Vice President, reports that the HBM market is poised for robust growth, driven by significant pricing premiums and increased capacity needs for AI chips.
Tablet Shipments Show Signs of Recovery in Q1 2024
05/06/2024 | IDCAfter more than two years of decline, worldwide tablet shipments posted modest year-over-year growth of 0.5% in the first quarter of 2024 (1Q24), totaling 30.8 million units, according to preliminary data from the International Data Corporation (IDC) Worldwide Quarterly Personal Computing Device Tracker.
Industrial PC Market Size to Record $1.75 Billion Growth from 2023-2027
05/03/2024 | PRNewswireThe global industrial pc market size is estimated to grow by USD 1.75 billion from 2023 to 2027, according to Technavio. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of almost 6.29% during the forecast period.
Real Time with… IPC APEX EXPO 2024: Direct Imaging Equipment and Quad-wave DLP Light Engine Technology
05/03/2024 | Real Time with...IPC APEX EXPOGuest Editor Kelly Dack and MivaTek's Brendan Hogan delve into the company's innovative technologies, including direct imaging equipment and quad-wave DLP light engine technology. They highlight the benefits of direct imaging, compensation, and DART technology.
LQDX Divests Aluminum Soldering Business - Mina™ - to Taiyo America Inc.
05/02/2024 | PRNewswireLQDX, formerly known as Averatek Corp., developer of high-performance materials for advanced semiconductor manufacturing, today announced that it has divested its aluminum soldering business – known as MinaTM – to Taiyo America Inc., a global market leader in advanced electronic materials.