Latest News- Printed Circuit Board (PCB) Market: Multi-layer is expected to lead the Type segment during 2025-2029

The Printed Circuit Board (PCB) Market is being driven by Rising adoption of smartphones

The Printed Circuit Board (PCB) Market is expected to grow at a CAGR of 6.2% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 26.8 billion. In today's business landscape, industrial automation is a critical driver for maintaining competitiveness and optimizing operational efficiency. With the increasing adoption of computers and machines for control systems, power consumption has become a significant concern due to the high power density of electric equipment. Printed Circuit Boards (PCBs) play a pivotal role in addressing this challenge by ensuring efficient power consumption within compact applications. Moreover, the growing trend of cobots, industrial robots, and drones in automation processes further accentuates the importance of PCBs in facilitating optimum power management and enhancing overall industrial productivity. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on segments_for_ai.nslist

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising adoption of smartphones
• Increasing electronic components in vehicles
• Growing demand for IoT devices

However, the market also witnesses some limitations, which are as follows:

• Environmental concerns regarding PCBs
• Increasing complexity of electronic devices
• Rising cost pressures on manufacturers

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Market Scope in Printed Circuit Board (PCB) Market Research Report

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Research Analysis Overview

The Printed Circuit Board (PCB) market is witnessing significant growth due to the increasing demand for electronic devices in various sectors. Drivers include 5G technology, Internet of Things (IoT), Internet of Vehicles (IoV), and artificial intelligence. Consumer electronics, telecommunication infrastructure, and industries such as smartphones, cameras, and tripods are major consumers. Key players include Shennan Circuits, IC Substrate, Flexible Circuits, and Rigid Flex. Components like integrated circuits, resistors, electrolytic capacitors, PLCs, transistors, composite epoxy, and fiberglass are essential in PCB manufacturing.

Market Research Overview

The global electronics market encompasses a vast array of industries, including communications equipment manufacturers, technology hardware and storage providers, electronic equipment and instrument producers, and electronic components suppliers. Among the latter, printed circuit boards (PCBs) represent a significant segment. According to Technavio's market analysis, the global electronic components market size is determined by the revenue generated from sales of associated ICT and electronics products, equipment, and components. The growth of this market will be fueled by the burgeoning demand for Internet of Things (IoT) devices, 5G technology, Internet of Vehicles, artificial intelligence, and consumer electronics such as smartphones, cameras, PCs, and tablets. The increasing adoption of these technologies is driving the need for advanced and sophisticated electronic components, including PCBs, to support their functionality and connectivity.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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