Printed Circuit Board (PCB) Market: Future growth opportunities by 2027

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Printed circuit board market size is expected to witness a lucrative growth in the coming years owing to the rising integration of electronic component in vehicles.

Increasing use of electronic appliances with smart home technology in countries such as Japan, the United States, China, Great Britain and Germany will drive the printed circuit board market growth.

Multi-layered PCBs are extensively used to integrate intelligent home technology products, like smart security and surveillance systems, smart TVs, human-centric lightings, smart-layered devices, voice assisting systems and intelligent doorbells. These components are well-known for providing high miniaturization in compact smart home appliances with low power consumption and higher components density per square inch. As per the Consumer Technology Association, over 70% of the U.S. homes had one smart home device and nearly 18% of the U.S. families owned at least two smart home technology products in 2019.

There is also an increasing use of IoT & AI technology in intelligent home devices. As per a recent research report, the global printed circuit board market size will reach more than USD 75 billion in annual value by 2027.

Depleting demand for double-sided PCBs

The double-sided printed circuit boards held a market share of more than 35% in 2020, due to their circuit density and low conductivity path compared to the multi-layered and HDI printed circuit boards.

Dual-sided PCBs also have low operating efficiency, stability, and low temperature considering which they can’t conduct heavy current in the circuitry in contrast to their HDI counterparts., On account of these reasons, their adoption across industrial, automotive and medical devices has declined.

However, the need for double sided printed circuit boards is expected to increase in the manufacturing of low-cost consumer electronic devices.

To access a sample copy or view printed circuit board market report in detail along with the table of contents, please click the link below: https://www.gminsights.com/request-sample/detail/5035

Better signal transmission through rigid flex PCBs

The rigid-flex PCBs held a market share of 5% in 2020 and will grow at a CAGR of over 3% up to 2027. The growth is attributed to various advantages offered by rigid-flex architecture, including larger conductive pathways, compact footprint and hybrid circuit board design. The effect of shocks and vibrations on devices can also be sustained through this architecture, to increase the device durability and stability. Moreover, rigid-flex printed circuit boards can also link rigid boards to shorten the distance while ensuring improved signal transmission without the use of any external connector and cable.

Potential across the IT and telecom sector

The printed circuit board market share from the IT and telecom sector is expected to record a CAGR of over 5% up to 2027. The rapid installation and marketing of 5G technology have led to the expansion of the telecom industry. PCBs are also witnessing higher uses in the telecom industry across the digital and analog broadcasting systems, base station systems, servers and routers.

For instance, In February 2021, the Chinese government along with MIIT (the Ministry of Industry and Information Technology) announced the establishment of 600,000 new 5G base stations in China by 2021 to enhance the 5G infrastructure in the country.

Favorable government initiatives in the European region

Europe printed circuit board market accounted for an industry share of over 20% in 2020 and is expected to rise at a CAGR of 2% from 2021 to 2027. This is due to the rise in government initiatives that supporting the growth of electronics and semiconductor manufacturing industries in the region. For instance, in December 2018, the European Commission(EU) entered a joint project with the U.K., Germany, Italy, and France for microelectronics production and innovations.

Competitive inorganic growth strategies

To attain competitive advantages, major printed circuit board companies are focused on inorganic growth strategies to restructure their business operations. For instance, TTM Technologies, Inc., restructured its Electro-Mechanical (E-MS) business unit in April 2020 to improve its PCB manufacturing operations.

In the first half of 2020, the COVID-19 pandemic significantly impacted the printed circuit board market. The imposition of strict lockdown by the regional governments resulted in the temporary closure of consumer electronics and automotive manufacturing plants. Furthermore, manufacturers were forced to relocate their factories due to the lack of raw materials and trade restrictions. However, with the gradual resumption of all business operations in the present day, the demand and supply of the PCBs is anticipated to pick momentum.

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