The Europe Printed Circuit Board Market was valued at USD 1913.1 million in 2019, and it is expected to reach USD 2020.9 million by 2025, registering a CAGR of 1.53% during the period (2020 – 2025)
The printed circuit board (PCB) industry experienced rapid growth in the last few years, primarily owing to the continuous development of consumer electronics devices and increasing demand for PCBs in all electronics and electrical equipment.
New York, July 02, 2020 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Europe Printed Circuit Board Market – Growth, Trends, and Forecasts (2020 – 2025)”
– The Internet of Things (IoT) is providing new opportunities to the manufacturers of consumer electronics, wearable devices, such as smartwatches that incorporate chips and flexible sensors. Breakthrough in designing these devices and manufacturing technology may have a great impact on the PCB market. The number of systems connected over the internet expanded in the region over the past decade.
– Europe is responsible for nearly 40% of the global IoT market, accounting for about 20 billion connections by 2020, of about 6 billion in Europe. Europe is expected to account for more than a third of global Industrial IoT investments by 2020, the market in the region is expected to grow at an impressive average annual rate of more than 22%, reaching a value of EUR 287 billion in 2020, and Industrial IoT is Europe’s largest IoT market (CBI, Ministry of Foreign Affairs).
– According to Growth Enabler, the United Kingdom has over 40 million connected IoT devices, and the number is expected to grow as investments in IoT are expected to reach GBP 81 billion, creating 67,000 jobs by 2020. Furthermore, the region is expected to posses the most advanced internet, infrastructure, and innovation focus, primarily for IoT related applications and manufacturing.
– The current experience of multiple industries during the region’s lockdown, owing to the coronavirus pandemic, showed manufacturers the importance of the need to run operations remotely, irrespective of the staff location, and for uninterrupted communications with customers and suppliers. This understanding is expected to drive the demand for PCBs after the lockdown ends.
Read the full report: https://www.reportlinker.com/p05917994/?utm_source=GNW