Printed Circuit Board (PCB) Assembly Market Size

Printed Circuit Board Assembly Market Size

Printed Circuit Board Assembly Market was valued at over USD 90 billion in 2023 and is anticipated to grow at a CAGR of around 5% between 2023 and 2032.

To get key market trends

  Download Free Sample

Printed circuit board (PCB) assembly is the process of populating a bare board with electronic components to create a functional circuit. It involves soldering components including resistors, capacitors, and Integrated Circuits (ICs) on the board following a layout design. This assembly process typically employs automated machinery for precise placement and soldering, ensuring proper connections for electronic devices and systems. The increased demand for electronic devices, such as smartphones, wearables, and IoT gadgets, directly fuels the growth of the printed circuit board assembly market.

As consumer preferences shift toward advanced electronics, there is a corresponding need for smaller, more efficient, and technologically superior PCBs. This surge in demand encourages manufacturers to innovate and produce high-density & high-performance PCBs, supporting the evolving landscape of electronic devices. For instance, in January 2022, Panasonic developed a MEGTRON 8 multi-layer circuit board material featuring low transmission loss for high-speed communication networking equipment.

The increasing complexity of PCBs poses challenges in assembly due to denser component integration and intricate designs. Miniaturization demands precise handling of tiny components and intricate routing, making assembly more intricate. This complexity elevates manufacturing costs, challenges quality control, and necessitates specialized machinery & skilled labor. Managing thermal considerations and ensuring signal integrity amidst tighter layouts further complicate PCB assembly processes.