NEW YORK – The global printed circuit board market was valued at $63.1 billion in 2017 and is expected to reach $76.9 billion by 2024, a CAGR of 3.1%, says Energias Market Research.

Factors driving growth are the rising adoption of automation, growing demand for wireless devices, increasing miniaturization of devices, surging need for more efficient interconnect solutions, and increasing demand for flexible circuits.

Asia-Pacific held the largest market share of the global PCB market in 2017, with around 77%. The growth in APAC is attributed to the presence of many semiconductor manufacturers and growing adoption of smart devices in the region. North America held the second largest share, owing to high demand from military and aerospace.

Huge growth in the PCB market is due to the increasing demand for smart tablets and smartphones in IT and consumer electronics, as well as wearable electronics.

Multilayer PCBs dominated the global market in 2017 and is expected to grow at the fastest rate during the forecast period.

Based on substrate type, the HDI segment held the majority market share. Rigid-flex PCBs are likely to register the highest CAGR during 2017-2024, owing to the increasing demand for display applications and rising adoption of smartphones, says the research firm.

Based on PCB laminate type, FR-4 dominates market share in terms of value.

The communications segment had the highest market share, owing to increasing adoption of digital devices such as mobiles, networking equipment, power distribution system, amplifiers routers, etc. The automotive segment is expected to grow at the fastest rate during the forecast period.

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