In 2020, the PWB manufacturing industry was valued at $58.91 billion in U.S. dollars. Over the next five years, it is projected to reach a projected value of $75.72 billion by 2026. The rapid growth that we’ve experienced in the PWB manufacturing industry is primarily owed to the continuous development of innovative electronic devices and unprecedented demand for printed board assembly in all electrical equipment. Below, we offer greater insight into the current state of the industry while looking forward to a successful future.
PWB Manufacturing Industry Overview
The evolution of printed circuit board assembly has partially been driven by advancements in 3D printing, which can continue to provide our industry with immense manufacturing benefits in the future. For example, 3D printers can print a substrate item layer by layer, then add liquid ink on top that contains electronic functionalities. Then, surface-mount technologies can be added to yield the final product.
The ever-growing demand for electronic devices has simultaneously boosted the PWB market’s growth. According to the Consumer Technology Association’s study of technology sales and forecasts, the revenue generated by smartphone devices was valued at $79.1 billion and $77.5 billion in 2018 and 2019, respectively. As demand grows for smart technologies, so too does the need for printed circuit board assembly.
Furthermore, PWB integration is becoming a common feature of connected vehicles. Many modern automobiles are fully equipped with both wired and wireless technologies that are powered by printed circuit board assembly. This technology gives individuals the ability to perform tasks effortlessly with one click of a button, such as unlocking vehicles, starting climate control systems remotely, and even checking battery health.
Key Trends Defining PWB Manufacturing in 2021
There are plenty of factors that all contribute to the positive market growth of PWB manufacturing. For example, the consumer electronics sector is booming, the Internet of Things is soaring, and advanced applications in the aerospace and defense industry can all be identified as key reasons for industry viability.
Increasing demand for microelectronics is a critical trend throughout the industry. Now more than ever, consumers are expecting unparalleled functionality from devices that are smaller and smaller. This is something that rings true in both public and private sectors. For example, the average consumer is more likely to prefer small, flexible electronics (such as electronic wearables and foldable smartphones), and in the defense industry, we have seen a growing demand for microelectronics that power devices in difficult conditions.
Printed wiring boards are abundant in a remarkable amount of electronic equipment. This even includes household calculators, remote control units, and large circuit boards. PCB assembly services are driving the growth of many of these products, and as such, the seemingly unlimited usage of PWBs is fueling industry growth considerably.
The PWB manufacturing industry contains a highly competitive landscape of skilled electronics manufacturers. If you have a design or a project, then chances are that it could be elevated with the integration of PWBs that are manufactured exactly to IPC standards. Choosing to work with experienced contract manufacturing companies will make all the difference between success and failure. Give EEI Manufacturing a call today to learn how our PWB manufacturing services can help bring your project to life.