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Substrate Market Analysis

The Global Substrate Market size is estimated at USD 4.13 billion in 2024, and is expected to reach USD 5.24 billion by 2029, growing at a CAGR of 4.88% during the forecast period (2024-2029).

Due to the COVID-19 outbreak, there was a disruption in the electronics industry's supply chain, which challenged market growth. With reduced disposable incomes and depressed consumer sentiment, consumers chose to buy necessities, like food and cleaning products, and avoid non-essential, big-ticket purchases, like wearable devices.

• The COVID-19 pandemic and the ensuing shortage of semiconductor components proved to be a shock to the global economy and the semiconductor industry; for the first time, the entire world and nearly all economic sectors were affected, and supply chain disruptions will continue to impact production capacities negatively even in and beyond the current year. Furthermore, due to COVID-19, the demand for healthcare monitoring devices increased significantly, and various partnerships have led to market growth.
• Flexible hybrid electronics (FHE) is a novel electronic circuit manufacturing approach that combines the best of printed and conventional electronics. This combination of flexibility and processing capability is much desired since it reduces weight, enables new form factors, and maintains desirable functionality, such as data logging and Bluetooth connectivity.
• The printed circuit board (PCB) industry has experienced significant growth in the last few years, primarily owing to the continuous development of consumer electronics devices and the increasing demand for PCBs in all electronics and electrical equipment.
• Consumer electronics have been demanding new and different PCB functions. The development is related to the shape of the PCB or the accessory attached to it. PCB board cameras have developed significantly, with photo and video imaging and durability being the primary areas of improvement. These small cameras could take high-resolution images and videos with ease. Board cameras are poised to develop even further in the next few years, creating robust industry and consumer electronics solutions.
• Geographically, Asia-Pacific countries, such as Taiwan, Japan, and China, occupy a significant share of the global PCB landscape. However, PCB production in Taiwan has been on a declining trend for a few years. According to the Taipei Printed Circuit Association (TPCA), Taiwan's printed circuit board market briefly dominated the world with a large marginal market share. Suppose the government creates a hub for sophisticated PCB manufacture on a global scale and pursues autonomy in the supply of PCB materials. In that case, Taiwan can preserve its technological edge for the coming three to five years.

Substrate Industry Segmentation

The study tracks the substrate industry into four base categories - PCB, FHE, SLP, and SIP.

A printed circuit board (PCB) connects electrical or electronic components using conductive tracks and supports them mechanically. They are used in almost all electronic products, including passive switch boxes.

FHE is the convergence of additive circuitry, passive devices, and sensor systems typically manufactured using printing methods and thin, flexible silicon chips. These devices differ from traditional electronics in terms of size and flexibility. The technology finds applications due to the economies and unique capabilities of printed circuitry that are capable of forming a new class of devices for consumer electronics, the Internet of Things (IoT), medical, robotics, and communication markets.

The PCB Market is Segmented by Application (Computing, Consumer, Industrial/Medical, Communication, Automotive, and Military/Aerospace). The substrate Like PCB (SLP) Market is Segmented By Application (Consumer Electronics, Automotive, Communication, and Other Applications). The System In the Package (SIP) Market is Segmented By Application (Telecom and Infrastructure (Servers and Base Stations), Automotive and Transportation, Mobile and Consumer, Medical and Industrial, Aerospace and Defense).

The market sizes and forecasts are provided in terms of value (USD billion) for all the above segments.