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Global Automotive PCB Market 2018-2023 - CAGR to Grow by 8%
February 14, 2018 | Business WireEstimated reading time: 1 minute
According to the latest industry analysis, the global automotive PCB market size is expected to reach over $13 billion by 2023, growing at an impressive CAGR of more than 8% from 2017-2023.
This market research report on automotive PCB market offers analysis on market size & forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation by application (interior components, engine control components, powertrain components, and vehicle lighting & safety), by product (single-side PCB, flexible PCB, and multilayer PCB), and by geography (APAC, Europe, Latin America, MEA, and North America).
The rising adoption of advanced driver assistance systems (ADAS), infotainment systems, and telematics will boost the demand for automotive PCBs in the global market. The increasing focus on usage, transmission, battery capacity, and connectivity will help vendors launch innovative systems in the global automotive PCB market.
The increasing number of hybrid and electric vehicles on the road and the growing demand for advanced safety features in mid-segment vehicles will propel the demand in the automotive printed circuit board (PCB) market. The growing focus on rapid electrification of vehicles, stringent emission, and fuel economy norms, and adoption of connected vehicle concept will augment the growth of the automotive PCB market.
The leading vendors are expanding their business to new regions to gain a larger market share in the global automotive PCB market. The Chinese manufacturers are planning to expand their businesses to the North American and European region, intensifying the competition in the automotive market during the forecast period.
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