Recently, there has been rapid growth in the Printed Circuit Board (PCB) industry and studies show that predictions for the future of this industry are equally as optimistic. For those who are minimally tech-savvy, a PCB is an electronic circuit consisting of thin strips of a conducting material such as copper, which have been etched from a layer fixed to a flat insulating sheet, and to which integrated circuits and other components are attached. Most of us have them in our homes, without even knowing it. You can find PCBs in nearly every electronic appliance you can think of. But when this technology is so commonplace, what’s driving the demand for it?
In part, PCBs are thought of as being the essential building block for nearly everything electronic. Not only are they used with conductive strips to act as insulating bases, but they are also used as fibreglass. In other words, PCBs are used when making any time of electronic circuits, which is why it has remained a popular and vital piece of technology.
The global economy is drastically experiencing broad technology developments, which are increasing the demand for PCBs. As everything becomes more digitized, electronics are in high demand and even third-world countries are increasing their use of PCBs. It is possible that, very soon, circuit boards are going to be an important component in every vertical market.
Another driver of demand is the wide use of the internet, as it increases the markets and access to markets for the industry. The growth of recycled PCB markets will also be improved by e-waste collection goals.
The worldwide printed circuit board market is forecast to grow at a rate of 6.14 percent between 2017 and 2021, according to TechNavio. One of the latest trends that is growing rapidly and influencing the PCB market is the adoption of IoT devices. Worldwide, there has been a fast development in making smart devices that can adjust as per the ever-changing dynamics of expected consoles, TVs, laptops and mobile phones that are going to be introduced into the market.
The result will be more electronics and communication parts in devices, which will lead to an increased number of PCBs. These printed circuit boards are the platforms on which connections and ICs to other electronic apparatus get installed. They serve as the brains of these electrical devices. The rapid growth of IoT devices is set to increase the demand for PCBs from OEMs of smart devices.
Additionally, the adoption of PCBs in connected vehicles has also accelerated the PCB market. These are vehicles that are fully equipped with both wired and wireless technologies, which make it possible for the vehicles to connect to computing devices like smartphones easily. With such technology, drivers can unlock their vehicles, check their electric cars batteries status, start climate control systems remotely and track their cars using smartphones.
Connected cars are becoming popular due to the increased focus on the customer and vehicle safety regulations. This is a result of an increase in the number of reported accidents and casualties involved.
The market that is expected to remain the biggest in the PCB industry is communication. The ever-changing innovations in smartphones and rising demand from new economies are expected to increase growth for this market. The Asia Pacific region is bound to remain the biggest and most rapidly growing area, due to the rising production of electronic devices and components that takes place in the region.
As demand for PCBs becomes more global, meeting customer expectations will become more complex and important.