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The global printed circuit board assembly (PCBA) market is expected to grow significantly in the coming years, according to a recent report by Allied Market Research. The report forecasts that the PCBA market will reach $37.2 billion by 2026, growing at a compound annual growth rate (CAGR) of 4.1% from 2019 to 2026.

PCBAs are a crucial component in electronic devices, providing the connection between different components on the board. The increasing demand for electronic devices across various industries is driving the growth of the PCBA market. In addition, the miniaturization of electronic devices and the development of smart cities are also contributing to the growth of the PCBA market.

The report also highlights the growing demand for automotive electronics as a major factor driving the growth of the PCBA market. The increasing adoption of electric and hybrid vehicles is driving the demand for PCBA in the automotive industry.

Asia-Pacific is expected to be the largest market for PCBA, due to the presence of a large number of electronics manufacturers in the region. China, in particular, is expected to be a key market for PCBA due to its large electronics manufacturing industry.

However, the report also highlights some challenges facing the PCBA market. The increasing complexity of electronic devices and the need for high-speed data transfer are driving the demand for advanced PCBAs, which can be more expensive to produce. In addition, the shortage of skilled labor in the electronics manufacturing industry is also a challenge facing the PCBA market.

Overall, the global PCBA market is expected to continue growing in the coming years, driven by the increasing demand for electronic devices across various industries. However, manufacturers will need to address the challenges facing the market in order to fully capitalize on this growth opportunity.