The surge in electronic content in automobiles, as well as a heightened demand for consumer electronic products, especially from Asia, have created a robust market for printed circuit board (PCB) relays. Relays are an integral part of cell phones, personal digital assistants (PDAs), audio systems, along with other white goods, and are vital for power and signal transmission in automobiles. As such, the rising usage of electric and hybrid vehicles will provide a huge boost to the adoption of PCB relays.
New analysis from Frost & Sullivan (smt.frost.com), Comprehensive Assessment of the Global Printed Circuit Board Relay Market, finds that the market earned revenue of $2.39 billion in 2012 and is expected to reach $4.51 billion in 2019, at a compound annual growth rate of 9.5 percent.
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"As vehicle manufacturers continue to give priority to powertrain and engine performance, in addition to fuel efficiency, the demand for PCB relays is expected to remain steady," said Frost & Sullivan Electronics Research Analyst Lavanya Rammohan.
Markets such as aerospace, defense and medical industries are heavy users for PCB relays. The growing use of high-reliability PCB relays in radars, weapons, and armed vehicles is spurring its adoption in the defense sector, while the commercial aerospace sector simultaneously demands both cutting-edge technology as well as rugged PCB relays. The medical industry is also a significant market for PCB relays for applications in ultrasound, scanning and x-ray applications.
Although the current uptake of electronics bodes well for the PCB relays market, the volatility in the overall demand of electronics affects forecasting and creates an imbalance in stocking. Therefore, economic downturns or slowdowns in customer orders reduce the sales volumes of PCB relays.
As such, PCB relay manufacturers have to strive to position themselves cleverly in an intensely competitive market. As manufacturers attempt to expand their product lines to ride through the tough market conditions, the market is expected to witness frenetic merger and acquisition activity.
"With advancements in technology, PCB manufacturers have to innovate to offer reduced switching times, increased efficiency, and superior safety features," said Rammohan. "Overall, escalating end-user demand for top performance, thermal dissipation, reliability, in conjunction with reduced prices will drive innovation in PCB relays and boost market growth."
Comprehensive Assessment of the Global Printed Circuit Board Relay Market is part of the Surface Mount Technologies Growth Partnership Services program. Frost & Sullivan’s related research services include: World PCB Relays Market, EMS and ODM Market, World Inductor Market, and Connected Devices Market. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Comprehensive Assessment of the Global Printed Circuit Board Relay Market / NBD3-28