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TMCNet:  Printed Circuit Board (PCB) Market size is set to grow by USD 29.06 bn from 2024-2028, rising adoption of smartphones to boost the market growth, Technavio

[May 16, 2024]

Printed Circuit Board (PCB) Market size is set to grow by USD 29.06 bn from 2024-2028, rising adoption of smartphones to boost the market growth, Technavio

NEW YORK, May 16, 2024 /PRNewswire/ -- The global printed circuit board (pcb) market size is estimated to grow by USD 29.06 bn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 6.6% during the forecast period. 

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Forecast period


Base Year


Historic Data

2018 - 2022

Segment Covered

End-user (Communication network infrastructure, IT and peripherals, Automotive, Consumer electronics, and Others), Type (Multi-layer, HDI, Single sided, and Double sided), and Geography (APAC, North America, Europe, Middle East and Africa, and South America)

Region Covered

APAC, North America, Europe, Middle East and Africa, and South America

Key companies profiled

APCT, China Circuit Technology Shantou Corp., Compeq Manufacturing Co. Ltd., DAEDUCK ELECTRONICS Co. Ltd., Dynamic Electronics Co. Ltd., Ibiden Co. Ltd., Jabil Inc., KOREA CIRCUIT CO. LTD, Murrietta Circuits, NOK CORP., RAYMING TECHNOLOGY, Shenzhen Kinwong Electronic Co. Ltd., Shenzhen SenYan Circuit Co. Ltd., Shenzhen Zhongxinhua Electronics Co. Ltd., Sumitomo Electric Industries Ltd., TTM Technologies Inc., Victory Giant Technology, Vishal International, Wonderful PCB, and Zhen Ding Technology Holding Ltd.

Key Market Trends Fueling Growth

Printed Circuit Boards (PCBs) are essential components in various industries, driving automation and efficiency. They ensure optimum power consumption in high-density applications, contributing to reduced operation costs and improved product quality. PCBs exhibit desirable properties such as dielectric strength, dimensional stability, electrical insulation, mechanical strength, flame retardancy, thermal insulation, and high-temperature performance. The growing adoption of industrial robots, automation machinery, and high-power electrical devices further boosts the PCB market. Additionally, PCBs are vital in electronic equipment, including 5G infrastructure, Internet of Things (IoT), Internet of Vehicles (IoV), artificial intelligence, consumer electronics, and smart devices. The PCB foundation material's reliability and thermal stability are crucial factors in maintaining the performance of these advanced technologies. However, concerns regarding electronic waste, lead, mercury, cadmium, and brominated flame retardants necessitate the development of eco-friendly and sustainable PCB solutions. 

Market Challenges

  • Printed Circuit Boards (PCBs) are essential components in various industries, including semiconductors, automotive, communications, industrial/medical, and telecommunication infrastructure. Made of metal, plastic, ceramic, copper, and epoxy resins, PCBs contain hazardous components that pose environmental risks due to their non-disposability. The industry has shifted from lead solders to lead-free alternatives to reduce toxicity. Recycling PCBs presents challenges such as temperature rise, mechanical shocks, and delamination. Key applications include semiconductor plants, automobile battery control systems, engine timing systems, digital displays, audio systems, power relays, and antilock brake systems. PCBs are also used in smart devices, IoT gadgets, and industrial automation. Materials include fiberglass, glass fabric, and high Tg FR-4, with glass transition temperature crucial for performance. The market encompasses HDI, build-up, microvia, rigid PCBs, and 3D printing.

Research report provides comprehensive data on impact of trend, driver and challenges - Buy Report

Segment Overview 

This printed circuit board (pcb) market report extensively covers market segmentation by

  1. End-user 
    • 1.1 Communication network infrastructure
    • 1.2 IT and peripherals
    • 1.3 Automotive
    • 1.4 Consumer electronics
    • 1.5 Others
  2. Type 
    • 2.1 Multi-layer
    • 2.2 HDI
    • 2.3 Single sided
    • 2.4 Double sided
  3. Geography 
    • 3.1 APAC
    • 3.2 North America
    • 3.3 Europe
    • 3.4 Middle East and Africa
    • 3.5 South America

1.1 Communication network infrastructure- The Printed Circuit Board (PCB) market is segmented by end-user applications, including the semiconductor industry, automotive sector, communications, industrial/medical, and telecommunication infrastructure. The semiconductor market's growth is driven by the increasing demand for integrated circuits, resistors, electrolytic capacitors, PLCs, transistors, and composite epoxy materials. In the automotive sector, PCBs are essential for various applications such as battery control systems, engine timing systems, digital displays, audio systems, power relays, antilock brake systems, and smart devices. PCBs are also crucial in IoT gadgets and millennial-driven industries like computer manufacturing and communications. The communications sector's expansion is fueled by the transition from 4G to 5G networks, necessitating faster data connectivity and high-resolution video streaming. PCBs are integral to the functioning of communication network infrastructure equipment, including enterprise network equipment, wireline network equipment, subscriber equipment, and cable/multiservice operator equipment. PCBs come in various forms, such as HDI/build-up/microvia, rigid PCBs, and flexible circuits, made from materials like FR-4 high Tg, glass fabric, and fiberglass. Emerging technologies like 3D printing and industrial automation are also driving the demand for PCBs in diverse industries.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 - 2022) - Download a Sample Report

Research Analysis

The Printed Circuit Board (PCB) market encompasses the design, manufacturing, and integration of advanced electronic components into various industries. Key technologies driving growth include 5G, Internet of Things (IoT), Internet of Vehicles (IoV), Artificial Intelligence (AI), and Consumer Electronics. PCBs are essential in these sectors, enabling the functionality of smartphones, cameras, and telecommunication infrastructure. Unimicron, Compeq, and other leading players produce IC Substrates, Flexible Circuits, and Rigid Flex for PCB applications. PCBs consist of PCBs, Integrated Circuits, Resistors, Electrolytic capacitors, Programmable Logic Controllers (PLCs), Transistors, and Composite epoxy materials. Fiberglass and other materials are used in the production of PCBs, ensuring their durability and reliability.

Market Research Overview

The Printed Circuit Board (PCB) market encompasses the design, manufacturing, and distribution of these essential electronic components. PCBs serve as the backbone of various electronic devices, connecting and protecting their electrical components. The industry's growth is driven by the increasing demand for advanced technology in consumer electronics, automotive, telecommunications, and healthcare sectors. PCBs come in various types, including single-sided, double-sided, multi-layer, and flexible boards, catering to diverse applications. The market is also influenced by factors like miniaturization, increasing complexity, and the shift towards RoHS compliance. The future holds promising opportunities for PCBs, with advancements in technologies like HDI, Microvia, and 3D stacking.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

  • End-user
    • Communication Network Infrastructure
    • IT And Peripherals
    • Automotive
    • Consumer Electronics
    • Others
  • Type
    • Multi-layer
    • HDI
    • Single Sided
    • Double Sided
  • Geography
    • APAC
    • North America
    • Europe
    • Middle East And Africa
    • South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]

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SOURCE Technavio

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