Press release
Flexible Printed Circuit Board Market: Integration of IoT to Trigger Demand
The emergence of Internet of Thing (IoT) across the world has had a substantial influence on a variety of products and markets, of which the global flexible printed circuit board market is a prominent one. With the increasing penetration of smartphones, tablets, and laptops, the demand for flexible printed circuit boards has increased significantly, leading to a remarkable rise in the market’s valuation.The worldwide market for flexible printed circuit boards stood at US$13.51 bn in 2016. Rising at An impressive CAGR of 11.0% between 2017 and 2025, the market is likely to offer an opportunity worth US$33.39 bn by the end of 2025.
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Demand for Multi-layer Flex Circuits to Remain Strong
Based on the product type, the global market for flexible printed circuit boards has predominantly been categorized into single-sided flex circuits, double-sided flex circuits, multi-layer flex circuits, and rigid flex circuits. Apart from these, sculpted flex circuits, single layered flexible circuits, and double access flexible circuits are also prominent types of flexible printed circuit boards available in this market.
In terms of revenue, the multi-layer flex circuits segment led the market in 2016 and is expected to maintain its dominance over the next few years.
Asia Pacific to Maintain Lead in Global Flexible Printed Circuit Boards Market
The Middle East and Africa, Asia Pacific, North America, Latin America, and Europe have been considered as the key regional markets for flexible printed circuit boards across the world. Asia Pacific led the global market with a share of 56% in 2016 and is likely to retain its position over the next few years.
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The increasing penetration of smart devices, swift development of industrial infrastructure that supports integration of process automation, rising adoption of sensors in automobiles, and escalating investments in communication technologies are driving the growth of the Asia Pacific market for flexible printed circuit boards.
North America, which was the second leading market for flexible printed circuit board in 2016, across the world, is also projected to witness significant growth in its market share over the forthcoming years.
NOK Corp., Nitto Denko Corp., NewFlex Technology Co. Ltd., Interflex Co. Ltd., Sumitomo Electric Industries Ltd., Multi-Fineline Electronix Inc., Fujikura Ltd., Flexcom Inc., Daeduck GDS, and Career Technology (Mfg.) Co. Ltd. are some of the key participants operating in the global market for flexible printed circuit boards.
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