Research Nester assesses the growth of US and Europe printed circuit board (PCB) design market over the forecast period, i.e., 2023-2035 and evaluates its future prospects. Increased investment to boost the production of semiconductors and rise in the number of devices connected to internet of things (IoT) is to drive market growth.
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.
Rising Production of Semiconductors in the Region 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 production and investment in the semiconductor industry. As in the past, American semiconductor companies spent a record-breaking around USD 50 billion on R&D in 2021, or around one-fifth of annual revenue. From April 2021 and April 2022, there was a huge 41% increase in semiconductor sales in the United States. Also, month-over-month sales increased by almost 3%. Moreover, for the same year in Europe, semiconductor sales climbed by almost 19%.
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There is a huge shortage of labor and raw material that also have increased their prices, the presence of a massive market of open-source PCB design software, and the disrupted supply chain of semiconductors are some of the major factors anticipated to hamper the growth of the US and Europe printed circuit board (PCB) design market.
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 by the end of 2035. The segment is expected to grow at a CAGR of 11.1% over the projected time frame. In addition to this, the segment garnered a revenue of USD 331.6 million in 2022. The growth of the segment is expected to on the back of higher deployment of robots for boosting the automation in several industry.
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 garnered revenue in 2022. Moreover, the market in US is to grow at a CAGR of 10.5% over the projected time frame. This growth is anticipated by rising demand for automation in the industry followed by rising use of robots and higher count of PCB designers in the region.
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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.
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