According to the research report titled ‘Printed Circuit Board (PCB) Market Size, By PCB Type (Single Sided, Double Sided, Multi-layered, High Density Interconnect (HDI)), By Substrate (Rigid, Flexible, Rigid-flex), By Application (Consumer Electronics, Automotive, Healthcare, IT & Telecom, Industrial) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027’, available with MarketStudyReport, printed circuit board market is anticipated to garner profitable returns by the year 2027.
 

Flourishing application scope for the product, in consort with growing demand for healthcare devices amid the COVID-19 pandemic, and rising investment in 5G technology and telecom infrastructure in developing nations are propelling the printed circuit board market expansion.

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For the unversed, printed circuit board (PCB) refers to a board on which microelectronic components such as capacitators or semiconductor chips are attached. PCBs are found in almost all electronic products and aid in the formation of electrical interconnections between electronic components.

Based on product type, the single sided segment is slated to exhibit a CAGR of 1.5% during the forecast duration, as these PCBs have become easier to manufacture with automation and usage of computer-aide software. As a result, singles sided PCBs are being used widely in electronic devices like radio, healthcare devices, camera systems, calculators, and others.

In terms of application spectrum of printed circuit board industry, the healthcare vertical is poised to grow at 3% CAGR through 2027, owing to the Covid-19 pandemic, and rising demand for healthcare monitoring devices, including CT scanners, blood glucose monitors, heart rate & blood pressure monitors, among others.

Additionally, PCBs are widely used in industrial applications, owing to increasing demand from organizations that operate manufacturing facilities. They strengthen automation, allowing firms to save money and reduce human error while also allowing more precise and easier-to-read measurements and faster operations.

Considering the regional landscape, Latin America market held 3% revenue share in 2020 and is anticipated to exhibit a strong CAGR over the forecast duration, owing to favorable government initiatives towards the advancements of the local semiconductor industry.

The key players in global printed circuit board (PCB) marketplace are Würth Elektronik GmbH & Co. KG, Unimicron Technology Corporation, TTM Technologies, Inc., Sumitomo Electric Industries Ltd., RayMing Technology Co. Ltd., Nitto Denko Corporation, Nippon Mektron Ltd., MultiTech Electron HK Ltd., Hitech Circuits Co. Ltd., Fujikura Ltd., Epec LLC, Eltek Ltd., Bittele Electronics, Inc., Becker & Müller Schaltungsdruck GmbH, AT&S (Austria Technologie & Systemtechnik Aktiengesellschaft), Amitron Corporation, American Standard Circuits, Inc., A-Flex, Advanced Circuits, Inc., and Advanced Circuitry International.