The printed circuit boards (PCBs) market is expected to reach a value of US$ 107.6 billion by 2030, driven by the increasing demand for electronics and IoT devices, according to a new report by RationalStat. The market value is estimated at US$ 81.2 billion in 2023, with a strong compound annual growth rate (CAGR) of over 4.1% projected for the forecast period of 2023-2030.
PCBs are crucial components in electronic devices, serving as the foundation for the integration of electronic components. They mechanically support and electrically connect these components by etching conductive paths on a non-conductive substrate. PCBs are used in various applications, including automotive systems, safety devices, entertainment systems, navigation systems, and autonomous driving systems.
The automotive industry is one of the major drivers for the growth of the PCB market. The increasing demand for PCBs in vehicle control systems, infotainment systems, and electric vehicle components has led to a higher demand in this sector.
The report by RationalStat provides a comprehensive overview of the global market, analyzing market segments, including type, application, and geography/regions. It offers market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030, covering market value and volume.
Leading players in the market are adopting various strategies to gain a competitive edge, such as mergers and acquisitions, partnerships, and product launches. Companies profiled in the report include Jabil Inc., Wurth elektronik group, TTM Technologies Inc, Becker & Muller Circuit Printing GmbH, Advanced Circuits Inc., Sumitomo Electric Industries Ltd, Murrietta Circuits, Unimicron Technology Corporation, Tripod Technology Corporation, and AT&S Austria Technologie & Systemtechnik AG.
With the growing adoption of IoT and continuous advancements in technology, the printed circuit boards market is expected to witness significant growth in the coming years. This presents opportunities for both existing players and new entrants in the market.
FAQs
What is a printed circuit board (PCB)?
A printed circuit board (PCB) is a critical component in electronic devices that acts as the foundation for electronic component integration. It mechanically supports and electrically connects electronic components by etching conductive paths on a non-conductive substrate.
What is driving the growth of the printed circuit boards market?
The increasing demand for electronics and IoT devices, as well as the growing adoption of IoT and advancements in technology, are driving the growth of the printed circuit boards market. The automotive industry also plays a significant role in driving the demand for PCBs.
Who are the key players in the printed circuit boards market?
Some of the key players in the printed circuit boards market include Jabil Inc., Wurth elektronik group, TTM Technologies Inc, Becker & Muller Circuit Printing GmbH, Advanced Circuits Inc., Sumitomo Electric Industries Ltd, Murrietta Circuits, Unimicron Technology Corporation, Tripod Technology Corporation, and AT&S Austria Technologie & Systemtechnik AG.
What strategies are companies adopting in the printed circuit boards market?
Companies in the printed circuit boards market are adopting various strategies to gain a competitive edge, including mergers and acquisitions, partnerships, and product launches. These strategies help companies reinforce their market share and expand their presence in the market.