Analysis by Component (Solution, and Services); by Type (PCB Layout, and Schematic Capture); by Deployment Mode (On-Premises, and Cloud); by Organization Site (Small and Medium Enterprises, and Large Enterprises); and by Industrial Vertical (Industrial Automation & Control, Consumer Electronics, Aerospace & Defense, IT & Telecommunication, Healthcare, and Others) – Supply & Demand Analysis & Opportunity Outlook 2022-2035
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The US and Europe printed circuit board (PCB) design market is estimated to garner a revenue of USD 6,691.6 Million by the end of 2035 by growing at a CAGR of 11% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of USD 1,725.6 Million in the year 2022. The growth of the market can be attributed to the rise in the sales of semiconductors. Semiconductors are highly used as the base of semiconductor PCB and it is mostly used in small electrical appliances. The sales of semiconductors in America have significantly increased from April 2021 to April 2022 by around 41%. Moreover, month-over-month sales rose by nearly 3%. Furthermore, the sales of semiconductors have increased by approximately 19% for the same year in Europe.
In addition to these, factors that are believed to fuel the market growth of printed circuit board (PCB) design in the United States and Europe include rising demand for smart devices, smart wearables, smart phones, and others. Smart TV was the most popular smart home appliances in 2022. Around 76% of participants of the general survey had a smart TV in the United States. Furthermore, in the United States, wearables were apparently worn by around 34 million people who were at risk of cardiovascular disease and nearly 4 million people who already had the disease. Besides this, the rising use of robots in various industries is expected to boost the market growth. According to the International Federation of Robotics, the demand for robots in the metal and machinery sector increased by 66% to 3,814 units in 2021. Moreover, there were around 3400 units of robots were deployed in food and beverage industry in the United States in the same year.
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
11% |
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Base Year Market Size (2022) |
USD 1,725.6 Million |
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Forecast Year Market Size (2035) |
USD 6,691.6 Million |
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Regional Scope |
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Growth Drivers
Increasing Expenditure on Semiconductors – The semiconductor industry has worked relentlessly to accelerate innovation and ramp up production as the sector's importance to the global economy continues to rise. U.S. semiconductor firms spent a record around USD 50 billion on R&D in 2021, or about one-fifth of yearly revenue, as they have done in the past.
Rising Adoption of Internet of Things– The Internet of Things is a network of interconnected electronic objects, ranging from laptops to thermostats to cars (IoT). Moreover, by 2022, there were more IoT devices than humans on the planet, with a total of over 13 billion. Additionally, it is anticipated that there are likely to be nearly 6 billion Internet of Things (IoT) connections overall in North America by 2025.
Growing Popularity of Healthcare Wearables– With the help of PCB, engineers can put small electrical components in compact body. Wearable technology was used by 29% of adult Americans overall. Furthermore, although it is believed that half of all patients with cardiovascular disease are older than 65, only about 12% of those with the condition were using wearable technology.
Higher Demand for Smart Devices– PCB is the essential component of the all electronics & smart devices, that facilitates the automation. The penetration of smartphones in Europe is expected to increase by around 7% between the year 2022-2028. Moreover, penetration will hit a new peak in 2028 at approximately 90%.
Rising Adoption of Automation in Industry– The PCB ensure the operation of robots or machine by providing an electronic control system. Moreover, owing to pressing industry issues such as labor shortages, supply chain interruptions, and others, robot sales in North America reached a record USD 2 Billion in 2021.
Challenges
The US and Europe printed circuit board (PCB) design market is segmented and analyzed for demand and supply by industrial vertical into industrial automation & control, consumer electronics, aerospace & defense, it & telecommunication, healthcare, and others. Out of the six types of industry verticals, the industrial automation & control segment is estimated to gain the second-largest market size of USD 1302.3 million at the end of 2035, by growing at a CAGR of 11.1% over the projected time frame. The segment garnered a revenue of USD 331.6 million in 2022. The growth of the segment can be attributed to the rising use of industrial automation & equipment, such as robots in industries and factories. Manufacturing in North America is rapidly embracing robotics and automation, with sales of robots reaching a record high of around 40,000 in 2021, a significant 28% increase over 2020.
The US and Europe printed circuit board (PCB) Design market is also segmented and analyzed for demand and supply by deployment mode into on-premises, and cloud. Amongst these two segments, the cloud segment is expected to garner a significant share at the end of 2035. The segment is anticipated to grow at a CAGR of 11.8% over the forecast period. Additionally, the market generated a significant market revenue in 2022. The segment growth is expected to on the account of higher adoption of cloud by the companies and rising cloud services for printed circuit board. According to the Eurostat, 42% of businesses in the EU were using cloud computing in 2021. This is a 6 percentage point (pp) increase from 2020, which is more than twice the proportion of the year 2016. Moreover, in 2021, 41% of EU businesses adopted cloud computing. Furthermore, KLA Corporation has announced the release of Frontline Cloud Services, a software programme that quickens the analysis of complicated printed circuit boards' design for manufacture (DFM) and their time to market (TTM) (PCBs). KLA is moving its tried-and-true CAM and engineering skills to the cloud, where compute power is practically limitless.
Our in-depth analysis of the US and Europe printed circuit board (PCB) Design market includes the following segments:
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By Component |
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By Type |
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By Deployment Mode |
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By Organization Site |
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By Industrial Vertical |
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The US printed circuit board (PCB) Design market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. It is expected to grow at a CAGR of 10.5% over the forecast period. Moreover, the market in the United States garnered a significant revenue in 2022. The growth of the market can be attributed majorly to the increasing number of robotic suppliers that in turn is to stimulate the robotic automation process in the region. The U.S. has a disproportionately large percentage of system integrators serving the industry. There are around 1,200 robot suppliers in the United States. Furthermore, the Metal & Machinery and Automotive industries continue to be the primary focus of the majority of U.S.-based robot suppliers, with around 50% and approximately 46% of suppliers, respectively, providing these two sectors. On the other hand, the United States’ market growth is attributed to the higher number of PCB designers in the region. There are now over 10,000 PCB designers working in the US. Additionally, around 85% of PCB designers are men, compared to nearly 15% of women.
The Europe printed circuit board (PCB) Design market, amongst the market in all the other regions, is projected to hold the notable market share by the end of 2035. It is expected to grow at a CAGR of 11.6% over the forecast period. Moreover, the market in the Europe garnered a significant revenue in 2022. The market growth in the region is attributed to rising automation of industry. As per the statistics of International Federation of Robotics, in 2021, there were 84,302 robot installations in Europe, it was a 24% rise from the previous year. In addition, the number of robots installed in Germany increased by 6% to 23,777 units in 2021. The peak caused by significant investments from the automobile industry in 2018.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: Rising demand for semiconductors, higher adoption of smart devices, a higher number of devices connected to IoT, and growing automation of the industries are the major factors driving the market growth.
Ans: The market is anticipated to attain a CAGR of 11% over the forecast period, i.e., 2023 – 2035.
Ans: Lack of cheap labor, the rising price of raw material, large scale availability of open0source PCB developer are estimated to be the growth hindering factors for the market expansion.
Ans: The market in the United States region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Ans: The major players in the market are Dassault Systemes, Novarm Limited, Altium Limited, Synopsys, Inc., WestDev Ltd., ANSYS, Inc., ZUKEN, Inc., Siemens AG, Cadence Design Systems, Inc., and Autodesk, Inc.
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by component, type, deployment type, organization site, industry vertical, and by region.
Ans: The industrial automation & control segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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