고속 인쇄회로기판 시장 : 시장 점유율 분석, 업계 동향 및 통계, 성장 예측(2026-2031년)

According to Mordor Intelligence, the high-speed PCB market size is expected to increase from USD 5.08 billion in 2025 to USD 5.96 billion in 2026 and to USD 13.22 billion by 2031, growing at a CAGR of 17.28% over 2026-2031.

This report is Segmented by PCB Type (Multilayer High-Speed PCBs 12+ Layers, HDI PCBs, and More), Data Rate Capability (Up To 25 Gbps, 25-56 Gbps, 56-112 Gbps, and 112 Gbps+), Material Type (Standard FR-4, Mid-Loss Materials, and More), End-Use Industry (Hyperscale Data Centers AI/ML Clusters, Cloud Service Providers, and More), and Geography. The Market Forecasts are Provided in Terms of Value (USD).

Global High-Speed PCB Market Trends and Insights

Growing Demand for AI and ML GPU Clusters

Generative AI racks introduced in 2025 integrate more than 70 GPUs and drive aggregate interconnect bandwidth above 1 terabit per second, pushing PCB current limits past 1,800 amperes while retaining 112 Gbps signal integrity. Hyperscalers absorb the three-to-four-fold cost premium over general-purpose server boards because every microsecond of latency directly affects revenue from large-language-model queries. Capital budgets support long-term supply agreements, so fabricators that master via-in-pad HDI techniques secure multi-year volume commitments. The design complexity also increases non-recurring engineering fees, which raise average selling prices and expand the high-speed PCB market profit pool.

Rapid Adoption of 56-112 Gbps SerDes and PCIe 6.0

The PCIe 6.0 rollout in 2025 doubles per-lane bandwidth but shrinks voltage margins, making trace losses that were minor at PCIe 4.0 now mission-critical. Server boards built on ultra-low-loss epoxy or PTFE laminates with dissipation factors below 0.002 are now required to sustain a 36 decibel signal-to-noise threshold set by CPU vendors. Only four laminate suppliers worldwide can meet this standard, so supply concentration extends lead times and hardens pricing. Design houses increasingly rely on 3-D electromagnetic simulation to optimize stub length and back-drilling, elevating engineering tool spend per project.

Thermal Management Challenges at Ultra-High Data Rates

SerDes channels operating at 112 Gbps dissipate more than 5 watts per lane, so a 16-lane device concentrates 80 watts over less than 10 cm2, driving board temperatures close to the glass-transition limit. Intel estimates that board-level cooling solutions now consume up to 22% of module costs. Immersion cooling alters dielectric constants, shifting impedance by up to 12 ohms, which forces trace-geometry compensation and raises design complexity. Resulting field-return rates for AI servers run 40% higher than traditional systems, inflating warranty reserves.

Other drivers and restraints analyzed in the detailed report include:

1. Increasing Layer Counts and HDI Adoption
2. Expansion of Hyperscale Data Center Capacity
3. Supply Chain Disruptions and Material Lead Times

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Multilayer boards with 12 or more layers accounted for 38% of revenue in 2025, underscoring their role as the workhorse platform for dual-socket servers. These boards account for the largest slice of the high-speed PCB market share because they balance density, cost, and manufacturability for 56 Gbps workloads. Substrate-like PCBs, however, are climbing at an 18.28% CAGR as chiplet architectures propagate across accelerator roadmaps. The high-speed PCB market for these substrate-like formats will grow as AMD, Intel, and NVIDIA bring organic interposers priced at USD 150-200 per module into production.

Substrate-like boards demand line-and-space below 10 microns and via densities over 10,000 vias/mm2, positioning them halfway between advanced packaging and traditional PCB realms. Fabricators such as AT&S and Ibiden channel more than USD 500 million each into new Malaysian and Japanese lines to address this demand. HDI boards retain relevance in edge servers where space is scarce, while backplanes continue to dominate storage fabrics that prize low-crosstalk over micro-via density. This mixed technology stack favors diversified suppliers rather than single-niche shops.

Boards engineered for 56-112 Gbps links secured 41% of 2025 revenue, powered by PCIe 5.0 and 100G Ethernet deployments. Even so, the 112 Gbps-plus cohort is projected to rise at an 18.18% CAGR, making it the fastest contributor to overall high-speed PCB market growth. High-speed printed circuit board market size gains in this category reflect PCIe 6.0 motherboards and 800G switch line cards that require insertion losses below 30 decibels across 30-inch traces.

Meeting these budgets obliges designers to shorten via stubs below 5 mils, adopt controlled-impedance routing tolerances of +-3%, and shift to PTFE or hydrocarbon-based laminates. Capital needs escalate because a single 67 gigahertz vector network analyzer now costs USD 300,000, yet without such metrology, fabricators cannot win hyperscale qualifications. Lower-speed boards up to 25 Gbps remain prevalent in edge compute and small-office networking, but revenue gradually gravitates toward the higher data-rate tiers as AI inference proliferates.

Geography Analysis

Asia-Pacific accounted for 68% of 2025 sales, driven by the robust manufacturing capabilities of Taiwan, China, Japan, and South Korea. These countries host extensive capacities across drilling, plating, and assembly processes, consolidated within highly integrated campuses. The region's vendors benefit significantly from economies of scale and their strategic proximity to laminate and copper-foil production facilities. This proximity ensures the high-speed PCB market remains cost-competitive, particularly for mainstream AI server applications. Additionally, the presence of co-located research and development centers fosters rapid process innovation and iteration, providing the region with a critical time-to-market advantage in a highly competitive global market.

North America, though smaller in volume, is the fastest-growing region, with a 18.38% CAGR through 2031, driven by sovereign-compute mandates requiring domestic assembly for national-security workloads. Programs such as the CHIPS and Science Act steer subsidies toward PCB and semiconductor facilities, so fabricators like TTM Technologies earmark USD 150 million for ultra-HDI expansion in New York. This reshoring partially offsets supply-chain risk and shortens lead times for U.S. defense and cloud operators, enlarging the regional high-speed PCB market share.

Europe keeps a high-mix, high-complexity focus. Austria-based AT&S and Germany-based sites invest in substrate-like and glass-core boards that command premium pricing, though absolute volumes remain modest compared with Asia. South America, the Middle East, and Africa remain niche, supplying telecom and industrial boards rather than AI servers. Overall, a bifurcated geography emerges, with volume tilting toward Asia while value and resilience tilt toward North America and select European plants.

1. TTM Technologies Inc.
2. Unimicron Technology Corp.
3. Ibiden Co., Ltd.
4. Samsung Electro-Mechanics Co., Ltd.
5. AT&S Austria Technologie and Systemtechnik AG
6. Compeq Manufacturing Co., Ltd.
7. Nan Ya Printed Circuit Board Corp.
8. Shennan Circuits Co., Ltd.
9. Zhen Ding Technology Holding Limited
10. Tripod Technology Corp.
11. CMK Corporation
12. Meiko Electronics Co., Ltd.
13. WUS Printed Circuit Co., Ltd.
14. Chin-Poon Industrial Co., Ltd.
15. Sanmina Corporation
16. Flex Ltd. (Multek)
17. Kyocera Corporation
18. RayMing Technology
19. Advanced Circuits Inc.
20. Shenzhen Kinwong Electronic Co., Ltd.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 INTRODUCTION

• 1.1 Study Assumptions and Market Definition
• 1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET LANDSCAPE

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 Growing Demand for AI and ML GPU Clusters in Data Centers
  • 4.2.2 Rapid Adoption of 56-112 Gbps SerDes and PCIe 6.0 Standards
  • 4.2.3 Increasing Layer Counts and HDI Adoption in Server Boards
  • 4.2.4 Expansion of Hyperscale Data Center Capacity Worldwide
  • 4.2.5 Transition to Chiplet Architectures Requiring High-Speed Interposers
  • 4.2.6 Emergence of Glass Core Substrates and SLB Technology
• 4.3 Market Restraints
  • 4.3.1 Thermal Management Challenges at Ultra-High Data Rates
  • 4.3.2 Supply Chain Disruptions and Material Lead Times
  • 4.3.3 Yield Losses in Ultra-Low-Loss Laminate Fabrication
  • 4.3.4 Regulatory Scrutiny on Export of Advanced Packaging Equipment
• 4.4 Impact of Macroeconomic Factors on the Market
• 4.5 Industry Value Chain Analysis
• 4.6 Regulatory Landscape
• 4.7 Technological Outlook
• 4.8 Porter's Five Forces Analysis
  • 4.8.1 Bargaining Power of Suppliers
  • 4.8.2 Bargaining Power of Buyers
  • 4.8.3 Threat of New Entrants
  • 4.8.4 Threat of Substitutes
  • 4.8.5 Intensity iof Competitive Rivalry

5 MARKET SIZE AND GROWTH FORECASTS (VALUE)

• 5.1 By Sensor Type
  • 5.1.1 Multilayer High-Speed PCBs (12+ Layers)
  • 5.1.2 HDI PCBs
  • 5.1.3 Ultra-Low-Loss / High-Frequency PCBs
  • 5.1.4 Backplane PCBs
  • 5.1.5 Substrate-Like PCBs
• 5.2 By Data Rate Capability
  • 5.2.1 Up to 25 Gbps
  • 5.2.2 25-56 Gbps
  • 5.2.3 56-112 Gbps
  • 5.2.4 112 Gbps+
• 5.3 By Material Type
  • 5.3.1 Standard FR-4
  • 5.3.2 Mid-Loss Materials
  • 5.3.3 Low-Loss Materials
  • 5.3.4 Ultra-Low-Loss Materials
• 5.4 By End-User Industry
  • 5.4.1 Hyperscale Data Centers (AI/ML Clusters)
  • 5.4.2 Cloud Service Providers
  • 5.4.3 Enterprise HPC
  • 5.4.4 Government / Research Labs
• 5.5 By Geography
  • 5.5.1 North America
    • 5.5.1.1 United States
    • 5.5.1.2 Canada
    • 5.5.1.3 Mexico
  • 5.5.2 South America
    • 5.5.2.1 Brazil
    • 5.5.2.2 Argentina
    • 5.5.2.3 Rest of South America
  • 5.5.3 Europe
    • 5.5.3.1 United Kingdom
    • 5.5.3.2 Germany
    • 5.5.3.3 France
    • 5.5.3.4 Italy
    • 5.5.3.5 Rest of Europe
  • 5.5.4 Asia-Pacific
    • 5.5.4.1 China
    • 5.5.4.2 Japan
    • 5.5.4.3 India
    • 5.5.4.4 South Korea
    • 5.5.4.5 Rest of Asia-Pacific
  • 5.5.5 Middle East and Africa
    • 5.5.5.1 Middle East
      • 5.5.5.1.1 United Arab Emirates
      • 5.5.5.1.2 Saudi Arabia
      • 5.5.5.1.3 Rest of Middle East
    • 5.5.5.2 Africa
      • 5.5.5.2.1 South Africa
      • 5.5.5.2.2 Egypt
      • 5.5.5.2.3 Rest of Africa

6 COMPETITIVE LANDSCAPE

• 6.1 Market Concentration
• 6.2 Strategic Moves
• 6.3 Market Share Analysis
• 6.4 Company Profiles (includes Global Level Overview, Market Level Overview, Core Segments, Financials as available, Strategic Information, Market Rank/Share, Products and Services, Recent Developments)
  • 6.4.1 TTM Technologies Inc.
  • 6.4.2 Unimicron Technology Corp.
  • 6.4.3 Ibiden Co., Ltd.
  • 6.4.4 Samsung Electro-Mechanics Co., Ltd.
  • 6.4.5 AT&S Austria Technologie and Systemtechnik AG
  • 6.4.6 Compeq Manufacturing Co., Ltd.
  • 6.4.7 Nan Ya Printed Circuit Board Corp.
  • 6.4.8 Shennan Circuits Co., Ltd.
  • 6.4.9 Zhen Ding Technology Holding Limited
  • 6.4.10 Tripod Technology Corp.
  • 6.4.11 CMK Corporation
  • 6.4.12 Meiko Electronics Co., Ltd.
  • 6.4.13 WUS Printed Circuit Co., Ltd.
  • 6.4.14 Chin-Poon Industrial Co., Ltd.
  • 6.4.15 Sanmina Corporation
  • 6.4.16 Flex Ltd. (Multek)
  • 6.4.17 Kyocera Corporation
  • 6.4.18 RayMing Technology
  • 6.4.19 Advanced Circuits Inc.
  • 6.4.20 Shenzhen Kinwong Electronic Co., Ltd.

7 MARKET OPPORTUNITIES AND FUTURE OUTLOOK

• 7.1 White-Space and Unmet-Need Assessment