Release time：2024年9月27日
Author：Kama
Printed circuit boards (PCBs) and printed circuit board assemblies (PCBAs) are critical components of modern electronic devices. As a leading PCB and PCBA manufacturer with years of experience,we ，HuaXing，understand the market dynamics, trends, and challenges the industry faces .
The purpose of this article is to provide insights into the current size of the PCBA market, the emerging trends to watch for in 2024, and the growth outlook for the PCB industry. By sharing this information, we aim to equip our customers—PCB assembler buyers—with valuable knowledge that can guide their decision making.
The PCBA market is a significant segment of the global electronics industry. According to recent industry reports, the worldwide PCBA market is valued atapproximately 45 billionin 2023.Itisprojectedtogrowto70 billion by 2028, exhibiting a compound annual growth rate (CAGR) of about 10%.
The PCBA market can be segmented into various categories based on end use applications. The key segments include:
Consumer Electronics (CE):
This segment represents the largest market share, driven by the growing demand for smartphones, tablets, wearable devices, and smart home appliances. The trend toward smaller, more feature rich devices is boosting the need for complex PCBAs.
Automotive:
The automotive industry is in the midst of a technological revolution with the rise of electric vehicles (EVs), autonomous driving,and advanced driver-assistance systems (ADAS). These advancements require sophisticated PCBAs, leading to an increased investment in PCB technology.
Telecommunications:
The rollout of 5G technology globally is driving the telecommunications segment’s demand for high-performance PCBAs.The development of 5G infrastructure, including base stations and network equipment, necessitates advanced PCB solutions.
Industrial applications:
The increasing adoption of automation, robotics, and control systems in industrial processes fuels demand for specialized PCBA solutions.
Global Market Size and Projections
| Year | PCBA Market Size (Billion USD) | Growth Rate (%) |
| 2022 | 42 | 9.5 |
| 2023 | 45 | 10 |
| 2024 | 50 | 11 |
| 2025 | 55 | 10 |
| 2026 | 60 | 9 |
| 2027 | 65 | 9 |
| 2028 | 70 | 8.5 |
As we look toward 2024, several trends are emerging that will shape the PCB market landscape:
Increased Demand for High-Density Interconnect (HDI) PCBs:
The trend towards miniaturization in electronic devices has led to a surge in demand for HDI PCBs. These boards allow for greater complexity in a smaller footprint, making them ideal for high-performance applications in smartphones, tablets, and wearables. Manufacturers are investing in advanced technologies to produce these intricate designs.
Sustainability and Eco-Friendly Practices:
Environmental concerns are pushing the industry towards sustainable practices. The use of green materials and processes—such as lead-free soldering and recyclable substrates—is becoming increasingly common. Companies are also focusing on reducing waste and energy consumption during production.
Adoption of Automation and Smart Manufacturing:
The integration of automation and Industry 4.0 principles is transforming PCB manufacturing. Automation not only enhances efficiency but also reduces the potential for human error, leading to higher quality products. Smart manufacturing technologies, such as IoT sensors and AI-driven analytics, are being employed to monitor and optimize production processes in real-time.
Expansion of 5G Technology:
As the deployment of 5G networks accelerates, the demand for PCBs that can support high-frequency signals and faster data transmission will grow. This trend is expected to lead to the development of specialized PCBs designed for telecommunications infrastructure.
Resilience in supply chains:
The COVID-19 pandemic exposed vulnerabilities in global supply chains. Companies are adopting strategies to enhance supply chain resilience, including diversifying suppliers, increasing inventory levels, and leveraging digital supply chain solutions.
The PCB industry is experiencing steady growth attributed to several factors:
Technological advancements:
Innovations in PCB design and manufacturing techniques drive industry growth. These advancements enable the production of more sophisticated and high-performance PCB solutions to meet the demands of emerging applications.
Increasing demand for electronic devices:
The proliferation of smart devices, IoT applications, wearable technologies, and healthcare equipment continues to fuel the demand for PCBAs. As these devices become more integral to daily life, the need for reliable and efficient PCB solutions grows.
Expansion of electric vehicles (EVs):
The global shift toward electrification in the automotive industry is a significant growth driver for PCBs. Electric vehicles require advanced PCBAs for power management, battery systems, and electronic controls.
Growing industrial applications:
The adoption of automation, robotics, and Industry 4.0 solutions in manufacturing and industrial processes is boosting the demand for PCBs. These applications require specialized PCB solutions for reliable and efficient operation.
Despite its growth prospects, the PCB industry faces challenges such as increasing material costs, complexity in production processes, and supply chain disruptions. However, leveraging technological advancements, sustainability initiatives, and smart manufacturing practices can help manufacturers tap into the opportunities presented by the evolving market landscape.
The PCB and PCBA markets are poised for significant growth as we look towards 2024. With advancements in technology, increasing demand from various sectors and a growing focus on sustainability, the industry will continue to evolve and expand.
As manufacturers with years of experience in the field, we understand the importance of staying ahead of these trends and adapting to changing market dynamics.
For PCB assembler buyers, now is the time to consider how these trends will impact your business and how partnering with reliable PCB assembly manufacturers can help you leverage the opportunities that lie ahead.
By staying informed and proactive, you can ensure your business remains competitive in this rapidly changing landscape. If you have any questions,please let us know!
Recommended reading
1.The Future Trends in Through-Hole PCB Technology
2.The Ultimate Guide to PCB and PCBA Manufacturing
3.A Comprehensive Guide to PCB Prototyping and EMS PCBA Services