China, Taiwan, South Korea, and Japan were the major revenue contributors and the largest markets for PCB in APAC. APAC will be the leading region with 93% of the market's growth during the forecast period. In terms of end-users, the communication network infrastructure segment will hold the largest PCB market share during the forecast period owing to positive market trends in mobile broadband and big data management. Various features such as electric engine efficiency, battery management systems, and power conversion require a set of algorithms to run efficiently, which can be achieved by a 4-6 low printed circuit board. The 4-6 low PCBs held the largest share in 2020 and will continue to retain their dominance in the market during the forecast period. The PCB market report is segmented by Product (4-6 low, substrates, 1-2 sided, flexible, and others), End-user (communication network infrastructure, consumer electronics, automotive electronics, military and aerospace, and others), and Geography (APAC, North America, Europe, MEA, and South America).
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To learn about additional key drivers, trends, and challenges, Read our FREE Sample Report! In addition, other factors such as an ongoing slowdown in the global automobile market and changing market dynamics due to US-China trade war will also hamper the market growth adversely during the next few years. Even the disposal of PCBs is a daunting task as all the components need to be dismantled before the disposal. PCBs are made up of hazardous components, which are not easily disposable and hence, may harm the environment. However, factors such as environmental concerns regarding PCBs will challenge market growth. In addition, other factors such as the growing demand for IoT devices is further expected to influence the market positively in the forthcoming years. Thus, increasing smartphone shipments will further fuel the demand for PCB integration. Emerging economies including India and China are emerging as the key markets for smartphones due to the increased disposable income of the considerably high population in these economies. The global adoption of smartphones is expected to rise rapidly owing to the availability of low-cost smartphones and increased global Internet penetration.
The rising adoption of smartphones is one of the crucial factors driving the PCB market growth.
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