Selbyville, Delaware, Sept. 06, 2022 (GLOBE NEWSWIRE) —
The printed circuit board market is set to record a valuation of USD 120 billion by 2030, according to the most recent study by Global Market Insights Inc.
The industry growth is attributed to the surging industrial automation and the growing adoption of robotics technology across the manufacturing sector. The integration of PCBs in robotic applications offers numerous advantages such as smaller equipment footprints, improved safety, enhanced quality control, and increased production. Alongside, the rising miniaturization trends in robotics technology may create lucrative growth opportunities for PCB manufacturers.
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Large-scale integration across the power electronics
The double-sided printed circuit board market valued at more than USD 25 billion in 2021. Double-sided PCBs offer a range of benefits, including increased circuit density, immediate level of circuit complexity, relatively lower costs, reduced board size, and intermediate level of circuit complexity. The growing utilization of these PCBs in control relays & power conversion, HVAC & LED lighting, power supplies & regulators, converters & UPS power systems, instrumentation & industrial controls, etc., may help the industry experience substantial growth in the forthcoming years.
Increasing breakthroughs in smartphone technology to aid the growth of rigid-flex PCBs
The rigid-flex printed circuit board market is anticipated to reach USD 6 billion by 2030. Rigid-flex PCBs find major applications across military, medical, commercial, and industrial verticals for developing lightweight and flexible devices such as pacemakers, cellphones, digital cameras, etc. Driven by the flexible components in these PCBs, they are highly integrated into folded mobile phones as they support the bending mechanism without impacting the device’s functionality. In addition, the rapid advancements in smartphone technology may push the market growth.
Growing demand for compact mobility to increase product adoption across the IT and telecom sector
The IT and telecom sector held over 20% of the printed circuit board market share in 2021 owing to rapid commercialization of 5G technology globally. The fast-paced technological developments across the IT and telecom sector have fueled the need for compact devices with maximum mobility. The increasing requirement to meet the given specifications while offering a range of additional features may strengthen the industry outlook.
Positive economic outlook to increase the regional revenues
Europe printed circuit board market is predicted to observe a 4% CAGR till 2030 due to the rising utilization of cutting-edge technologies such as AI, IoT, and 5G across several end-use verticals, including transportation, electronics, and telecom sectors. The changing lifestyle trends and the consistent rise in disposable incomes have propelled the sales of consumer electronics across several European economies such as Germany, the Netherlands, and Denmark.
Collaborations to define the competitive landscape
Key players operating in the printed circuit board market are Zhen Ding Tech. Group Technology Holding Limited, DSBJ, Unimicron Technology Corporation, TTM Technologies, Tripod Technology, and AT&S.among others, including Sumitomo Electric Printed Circuits, Inc., Fujikura Ltd., Nitto Denko Corporation, Nippon Mektron, Ltd., and Würth Elektronik GmbH & Co. KG. The participating firms have been indulging in strategic partnerships and collaborations to expand their existing consumer base and improve their technological abilities.
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Partial Table of Contents (ToC) of the report:
Chapter 3 Printed Circuit Board Market Insights
3.2 Impact analysis of coronavirus COVID-19 pandemic
3.3 Impact of Russia-Ukraine War
3.4 Industry ecosystem analysis
3.5 Technological and innovation landscape
3.5.1 Surface mount technology (SMT)
3.5.2 Through hole mounting technology
3.5.3 5G technology
3.6 Regulatory landscape
3.7 Investment landscape
3.8 Industry impact forces
3.8.1 Growth drivers
188.8.131.52 Rising integration of electronic component in vehicles
184.108.40.206 Increasing demand for printed circuit boards in healthcare wearables
220.127.116.11 Increasing demand for automation machinery & industrial robots in the manufacturing sector
18.104.22.168 Proliferation of PCBs among the smartphone manufacturers
22.214.171.124 Rising investments in 5G technology and telecom infrastructure in developing nations
3.8.2 Industry impact forces
126.96.36.199 Technical issues associated with PCB designing
3.9 Growth potential analysis
3.10 Porter’s analysis
3.11 PESTEL analysis
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.