U.S. Circuit Board & Electronic Component Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2025 - 2032)

U.S. Circuit Board & Electronic Component Market Emerging Trends & Growth Drivers

Technological Advancements in Electronic Components Are Key Trends

Private organizations, together with the U.S. government, have dedicated ample funding for the development of new designs for circuit boards and electronic components. The substantial investment drives technological breakthroughs in three main areas: material science, manufacturing processes, and design tools.

Moreover, 5G network deployment requires the development of high-frequency circuit boards with advanced components that manage faster data transfer requirements. In turn, 5G enables the creation of next-generation telecommunication solutions, automotive systems, and consumer electronics. Over 300 million people, or 90% of the country’s population, is already connected to a 5G network, hinting at a massive potential for advanced electronic circuits for smart devices.

The increasing use of AI-driven applications, machine learning, and edge computing raises the demand for more-powerful processors and high-speed PCBs to support real-time data processing. High-quality circuit boards and electronic components are also rising in demand because the medical device industry is developing innovative diagnostic and treatment tools, including miniature, active implants, and report patient monitoring systems.

The U.S. government is working on policies to boost the domestic production of essential electronic components, such as circuit boards, processors, sensors, capacitors, inductors, and transistors. These policies strive to lower the dependence on overseas suppliers while generating employment opportunities in the U.S.

Growing Demand for Smart Devices and IoT Integration Drives Market

The growing use of smartphones and wearable devices drives the demand for smaller yet more-powerful circuit boards. In this regard, the rising uptake of IoT devices augments the development of smaller, more-integrated circuit boards with high processing capabilities. This pushes manufacturers to innovate component designs and packaging techniques. Now, circuit boards need to be smaller but still be able to support the higher processing power of the latest gadgets and devices.

The growth of the market will accelerate due to the surging demand for advanced circuit boards that can manage higher operating speed and more-intricate systems in terms of the integration and network of active and passive components. For instance, there are already around 70 million smart homes in the U.S., and this number is expected to cross 93 million by 2027.

However, the growing number of devices connecting to the internet creates a high risk of cyberattacks. This presents a growing demand for research in cybersecurity to develop cyberattack detection systems that can be incorporated into electronic components and circuit boards.

U.S. Circuit Board & Electronic Component Market Segmentation Analysis

Product Analysis

• The semiconductors & ICs category held the largest market share, of 42%, in 2024.
• This is because these components are integral to all contemporary electronic devices, such as smartphones and computers, as well as automotive electronics, industrial automation systems, and IoT devices.
• In this regard, the growing demand for EVs and ADAS in the country drives the market.
• As per the IEA, the U.S. accounted for 10% of all electric car sales around the world in 2023, with registrations numbering 1.4 million and increasing by 40% from 2022.
• The sensors & relays category will grow at a higher CAGR, of 5.82%, during the forecast period.
• This is due to the rise in the demand for smart devices, including wearables; growing focus on automotive safety, and advancements in the healthcare sector.
• Companies such as Siemens and Rockwell Automation are pushing for smart factories, which are integrated with a huge variety of sensors and relays for operational and safety monitoring.
• Military and defense agencies use advanced sensors for surveillance, navigation, and missile guidance.
• The increasing climate anxieties have led to the widespread adoption of pollution sensors, along with temperature and air quality sensors, in smart cities.

The products analyzed here are:

• Printed Circuit Boards
• Semiconductors & ICs (Largest Category)
• Capacitors & Resistors
• Transformers & Inductors
• Connectors & Switches
• Sensors & Relays (Fastest-Growing Category)
• Others

Application Analysis

• The consumer electronics category held the largest market share, of 35%, in 2024.
• This is because of the necessity of semiconductors, PCBs, sensors, and connectors for smartphones, laptops, and tablets.
• As per estimates, 98% of the country’s population has a cell phone.
• The rising adoption of modern, AI-based assistants as well as connected devices drives the requirement for sensors, PCBs, and ICs.
• Domestic manufacturers are increasing production to satisfy the rising demand for the components of consumer electronics both domestically and internationally.
• The automotive electronics category will grow at the highest CAGR, of 6.21%, during the forecast period.
• This is due to the shift toward electric vehicles and the rising preference for advanced driver assistance systems for increased safety.
• This is why automakers, such as Tesla, Rivian, and GM, are integrating high-performance semiconductors and sensors, along with battery management ICs, in their latest models.
• One of the main drivers for this category is the rapid integration of LiDAR and radar technologies for autonomous driving, along with AI-powered chips and safety features.
• These developments result in an elevating demand for sophisticated electronic components.
• The government promotes clean mobility, which drives the automotive electronics industry's growth by encouraging more investment.
• The Tech-Celerate Now program of the Federal Motor Carrier Safety Administration (FMCSA) works to raise awareness among the country’s trucking industry of the benefits of various ADAS technologies.

The applications analyzed here are:

• Consumer Electronics (Largest Category)
• Automotive Electronics (Fastest-Growing Category)
• Telecommunications
• Aerospace & Defense
• Healthcare & Medical devices
• Industrial Electronics

U.S. Circuit Board & Electronic Component Regional Market Performance

• The western region held the largest market share, of 38%, in 2024, owing to the presence of Silicon Valley, which maintains its global technological leadership.
• Several semiconductor and consumer electronics corporations have manufacturing facilities in California, which augments the demand for high-performance circuit boards, microchips, and other active and passive electronic components.
• The market in the southern region will grow at the highest CAGR, of 5.58%, during the forecast period.
• Southern states benefit from the U.S. CHIPS and Science Act, which offers manufacturing incentives.
• This is because end users are choosing domestically produced electronic components to reduce their dependence on foreign supply chains, which is leading to the establishment of new factories in the South.
• The states of Tennessee and Alabama are major hubs for industrial and aerospace electronics as companies relocate their business here due to the lower operational expenses, tax benefits, and qualified workforce.

The regions analyzed in this report are:

• Northeast
• Midwest
• West (Largest Region)
• South (Fastest-Growing Region)

U.S. Circuit Board & Electronic Component Market Share Analysis

The U.S. circuit board and electronic component market is fragmented, with no single company having a dominant share. Intel Corporation and Jabil Inc., along with Sanmina Corporation and TTM Technologies, retain strong positions through strategic acquisitions, technological improvements, and supply chain enhancements. Market competition is defined by connectivity, since industries are adopting IoT, 5G and smart automation at an increasing rate. Enterprises are focusing on creating PCBs and materials with advanced capabilities that strengthen data transfer and networking system stability. Sustained interest in seamless connectivity drives market participants to allocate funds toward innovations, to enhance their worldwide operations.

U.S. Circuit Board & Electronic Component Market Developments

In November 2023, Jabil Inc. announced plans to acquire a line of pluggable optical transceivers based on silicon photonics from Intel Corporation. The deal allowed Jabil to expand its photonic component capabilities to support high-speed data transmission for artificial intelligence and cloud computing applications.

In June 2022, TTM Technologies Inc. concluded its purchase of Telephonics Corporation for USD 330 million in cash payments. With the deal, TTM enhanced its aerospace and defense capabilities through new technologies for engineered systems, surveillance, communications, and radars.

In February 2022, Intel Corporation completed the USD 5.4-billion acquisition of Tower Semiconductor. Through the acquisition, Intel strengthened its position in the analog and mixed-signal semiconductor sector. The acquisition also allowed Intel to build manufacturing capacity and create durable semiconductor supply lines worldwide.