Global Printed Circuit Boards Market Insights, Opportunity, Analysis, Market Shares And Forecast 2017 – 2023
Printed circuit board market is rising globally with increasing demand for electronic devices and electronic systems. There are more than 12.7billion electronic devices in the world today. On an average there are 1.8 devices per person. The number of devices per person is projected to increase up to 4.2 by 2020. Growing smart phone market will supplement the PCB market for the forecast period. Smart phone market is anticipated to grow at CAGR 57% till 2020. North America, Asia Pacific and Europe are the lucrative markets for smart phones for the forecast period. Smart phone market in North America and Europe will be driven increasing number of gadget replacements and introduction of new products. In Asia Pacific, the smart phone market will be driven in terms of volume, with increasing internet penetration and high speed (4G) telecom connectivity. Above scenario confirms, global PCB market growth from $60.7 billion in 2016 to over $75.5billion by 2022, growing at CAGR 3.7% during period 2016-2022.
Other driving factors of the PCB market include, expanding semi-conductor industry, growing demand for utility electronics and regulation of e-waste. However, fluctuating raw material prices and increasing competition from both local and regional manufacturers will be a challenge for PCB market for the forecast period.
PCB market in Asia Pacific is growing with highest CAGR. The growth in Asia Pacific market is led by China followed by India, Japan, and Korea respectively. Asia Pacific is amongst the fastest growing Internet of things (IoT) market in the world, the market is anticipated to reach more than $600 billion by 2020. Growing awareness about technology, increasing internet penetration, expanding PCB market and decreasing price of sensors will drive internet of things market growth for the forecast period. Consumer electronics set to dominate internet of things market in Asia Pacific with over 32% market share in 2016. Growing IoT market would supplement digital transformation market for the forecast period.
North America dominates PCB market in terms of revenue followed by Europe, for the forecast period. Sectors like communications, medical, and defence are the prime drivers of PCB market in US. Defence budget of US in 2015 was over $585 billion, with $10billion dedicated for military electronics and communications. In 2016, US Congress proposed increasing the budget on electronics and communications around 10% YoY till 2019, with new procurements. In Europe, Germany dominates PCB market in terms of revenue, due to large pool of manufacturing companies in the country. Demand for PCBs in eastern European markets like Poland, Austria,
Nippon Mektron Inc., Young Poong Electronics Co Ltd., Zhen Ding Technology Holding Ltd., Unimicron Technology Corp., Samsung Electronics Inc., Ibiden Inc., Daeduck Pvt Ltd., Semco Co., Tripod Inc., Nanya PCB Inc., TTM Technologies., Compeq Ltd., Viasystems Ltd., Shennan Circuits Ltd., and ISU Petasys are amongst the leading PCB manufacturing companies around the world. Merger and acquisition is the foremost strategy used by companies to gain market share. For example, US based Cemtrex Inc on 30th June 2016 acquired Germany based electronic manufacturing company Periscope Ltd. The deal, opened doors for Cemtrex Inc, into mature and competitive European markets.
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