Printed Circuit Board market projected to reach $140 billion by 2031

The global printed circuit board (PCB) market is entering a transformative phase driven by artificial intelligence and automotive advancements. According to reports from Yole Group and The Business Research Company, the market is expected to see significant growth through the end of the decade.

Yole Group estimates the global PCB market could reach $140 billion by 2031, representing an average annual growth rate of 8.1%. This growth is characterized by a sharp divergence: the AI-related segment is exploding with annual growth rates between 45% and 70%, while traditional markets remain largely stagnant. The demand for AI-driven PCBs is fueled by the increasing complexity and quantity of boards required for high-performance systems. For instance, the PCB content in a Nvidia rack is expected to increase by over 200% with next-generation architectures.

Complementary data from The Business Research Company suggests the market could reach $873.9 billion by 2030, with rigid boards emerging as a primary growth opportunity. Key drivers for this expansion include the rise of electric vehicle production, AI-integrated manufacturing, and the increasing density of consumer electronics. The Asia-Pacific region continues to be the largest and fastest-growing market for these components.