DUBLIN – The global automotive printed circuit board market is expected to reach more than $14 billion during 2018-2024, says ResearchandMarkets.
The rising applicability of rigid-flex PCBs, the penetration of in-vehicle infotainment systems, the arrival of new energy vehicles, and the increased potential of ADAS are expected to contribute to growth.
The increased adoption of advanced driver assistance systems is driving the automotive PCB market, according to the research firm. The use of PCBs in ADAS systems is expected to witness significant traction in the coming years. Hence, vendors catering to the global automotive PCB market are planning to capitalize on this growing trend of ADAS installation in vehicles. Further, the growing installation of in-vehicle Infotainment systems is expected to push the demand for flexible PCBs.
Digitalization of PCB design simulations is emerging as a major concept in the global automotive PCB market, says ResearchandMarkets. It ensures effective prototype preparation before actual implementation is integrated into the simulation of the design process. Also, the electrification of engine mechanism and propulsion technologies is further expected to drive the automotive PCB market during the forecast period.
The leading five to six vendors constitute the majority of the share in the market, which has led to moderate fragmentation.