Research Nester assesses the growth of US and Europe printed circuit board (PCB) design market which is anticipated to be on account of the growing production of semiconductors and the rise in the number of people using fitness band, and smart watches for tracking their health metrics
New York – February 21, 2023 - Research Nester’s recent market research analysis on “US and Europe Printed Circuit Board (PCB) Design Market: Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the US and Europe printed circuit board (PCB) design market in terms of market segmentation by component, type, deployment type, organization site, industry vertical, and by region.
Growing Popularity of Smart Wearable Devices is to Drive Growth of US and Europe Printed Circuit Board (PCB) Design Market
The US and Europe printed circuit board (PCB) design market is estimated to grow majorly on account of the higher number of people using wearables for tracking their health. Overall, 29% of adult Americans used wearable technology. Furthermore, just approximately 12% of people with cardiovascular disease were utilizing wearable technology, despite the fact that it is thought that half of all patients with the ailment are older than 65.
Some of the major growth factors and challenges that are associated with the growth of the US and Europe printed circuit board (PCB) design market are:
- Surging Production of Semiconductors
- Higher Number of Devices Connected to the Internet of Things (IoT)
- Growing Sales of Smart Devices
- Higher Number of People Using Fitness Bands and Other Wearables
- Rising Need for Automation is Industry
The higher availability of open-source PCB design software at a large scale, the cost of labor and the raw material are really high, and the lack of semiconductors production and supply are some of the major factors anticipated to hamper the growth of the US and Europe printed circuit board (PCB) design market.
Access our detailed report at:
By industrial vertical, the US and Europe printed circuit board (PCB) design market is segmented into industrial automation & control, consumer electronics, aerospace & defense, it & telecommunication, healthcare, and others. The industrial automation & control segment is to garner the second-highest revenue of USD 1302.3 million by the end of 2035 by growing at a significant CAGR of 11.1% over the forecast period. Moreover, the segment garnered a revenue of USD 331.6 million in 2022. The segment growth is attributed to rising demand for automation in the industry and factories followed by increased use of robotics.
By region, the US printed circuit board (PCB) design market is to generate the highest revenue by the end of 2035. The market in the region is expected to grow at a CAGR of 10.5% over the forecast period. Moreover, the US market generated notable revenue in 2022. This growth is anticipated by the rise in the number of PCB designers and the higher number of robotics deployed in various industries for fulfilling the labor shortage in the region.
This report also provides the existing competitive scenario of some of the key players of the US and Europe printed circuit board (PCB) design market which includes company profiling of Dassault Systemes, Novarm Limited, Altium Limited, Synopsys, Inc., WestDev Ltd., ANSYS, Inc., ZUKEN, Inc., Siemens AG, Cadence Design Systems, Inc., and Autodesk, Inc.