Organic Semiconductor Market will exhibit a CAGR of 22.4% in the forecast period of 2019-2024 and is expected to reach USD 179.4 billion by 2024
Organic Semiconductor Market Overview
According to the reports, with a compound annual rate (CAGR) of 22.4 percent during the projection period, the Organic Semiconductor Market is projected to expand from USD 53.3 billion in 2018 to USD 179.4 billion by 2024. Organic semiconductors are non-metallic materials that show semiconducting characteristics when exposed to high temperatures. These semiconductors offer many advantages over inorganic semiconductors, including lower cost, lighter weight, and optical transparency. They may also be utilized to fabricate devices utilizing low-cost semiconductor manufacturing techniques, which makes them a good choice for low-cost devices.
Organic semiconductors are biodegradable, which makes them more desirable when compared to their inorganic counterparts in terms of performance. It is simple to fine-tune organic semiconductors by changing their structural configuration, by changing the shape or installation of various functional groups, which makes them more conducting, photoluminescent and improves their performance to achieve more efficient new-generation electronic device designs, which pave the opportunity for young opportunities and applications that are not feasible with currently used semiconductor materials Organic semiconductors are utilized in a variety of applications, including organic light-emitting diodes (OLED) displays, organic radio frequency identification devices (RFID), solar cells, and printed batteries, amongst other things. OLED displays are found in a variety of products, including televisions, computers, and tablets. Organic semiconductors are used in a variety of applications, the most prominent of which being lighting and displays. They are being utilized extensively in the development of new technologies such as lab on a chip and portable tiny displays. Organic semiconductors are utilized in the treatment of skin cancer in the healthcare industry. Organic semiconductors are in high demand for a variety of applications, including lighting and displays, as well as smart fabrics. In applications such as military and security, healthcare, and entertainment, smart textiles are being utilized to detect and react to a variety of environmental variables, such as thermal and mechanical, and to share data with other devices. Smart textiles are becoming more popular.
This report contains all the information on the organic semiconductor market strengths. The Organic Semiconductor Market report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the organic semiconductor market forecast for 2024 is also included in the report.
Covid 19 Analysis
Since to the worldwide COVID-19 issue, sourcing and production activities in the electronics industry have been halted for the time being. The change in consumer choice toward necessary goods is expected to have an impact on the organic semiconductors market during the forecasted time period. Furthermore, the COVID-19 epidemic has led to the closure of international boundaries, which has resulted in a significant drop in the Organic Semiconductor Market and associated goods across the world. Travel restrictions have been imposed by government agencies throughout the globe. Because of the anticipated reduction in sales of organic semiconductors in the electronics industry, it is expected that the market would be adversely impacted as well. Additional factors such as limitations on public gatherings and travel bans in some countries are anticipated to restrain the development of the organic semiconductors market during the forecast period. The increasing emphasis on separate channels and personal care is expected to have an impact on demand for goods such as organic semiconductors in the coming months. While the spread of the epidemic has resulted in the loss of human lives, it has also increased the likelihood of a worldwide economic downturn.
The worldwide Organic Semiconductor Market is expanding at a fast pace. Organic semiconductors are increasingly being used in a variety of applications, including organic photovoltaics (OPV), OLED lighting, printed batteries, organic RFID tags, and display applications, which is driving the Organic Semiconductor Market growth. In addition, the increasing manufacturing of electronic components such as light-emitting diodes, solar cells, and the transistor is increasing the size of the organic semiconductor industry, which is expected to continue. Organic semiconductors and nanomaterials are becoming more popular, and the industry is expected to gain considerable momentum in the near future as demand increases.
The substance has a wide range of uses in the healthcare sector, where it is used to cure skin cancer among other things. The organic semiconductor industry is expected to grow in the future years as the client population continues to grow. In addition, the increasing popularity of OLED displays is anticipated to boost the rate of growth of the organic semiconductor market throughout the course of the assessment period.
Market growth is expected to be restricted by a lack of knowledge and financial limitations in research and development (R&D), which will impede the development of current systems. Nonetheless, technical advancements anticipated in recent years would promote market development during the assessment period, bringing the necessary knowledge and lowering the total cost of organic semiconductors throughout the evaluation period.
In the future years, it is anticipated that the product's potential reduced lifetime as a result of environmental conditions would serve as a major challenge to the overall growth of the market.
Cumulative Growth Analysis
The product aids in the reduction of the cost of the goods that make use of it in their manufacturing. Based on current estimates, this factor is the main driver of the organic semiconductor industry. The product's mechanical flexibility is anticipated to increase its demand over inorganic semiconductors as a result of its superior performance. It is also expected to have a significant impact on the organic semiconductor business during the next few years, according to industry analysts. Also anticipated to aid in the spread of the product in the near future is its low weight and ease of assembly. These benefits of the product are expected to lead to a rise in applications, which would in turn accelerate the growth rate of the Organic Semiconductor Market trends.
Value Chain Analysis
According to the reports, In order to better understand the organic semiconductor industry, it has been divided into three categories: type, application, and geography. Depending on the kind, the market has been divided into three categories: polyethylene, polyaromatic ring, and copolymer. The organic photovoltaic (OPV) market has been divided into system components, organic photovoltaic (OPV) lighting, printed batteries, organic RFID tags, and display applications, with the latter being the most popular. According to geography, the market is divided into the following segments: North America; Europe; Asia-Pacific; Middle East; and Africa; Central and South America.
The market is segmented on the basis of components used, the enforcement point used, the deployment used, the organization used, and the end-user used. The global organic semiconductor market is expected to witness decent growth during the forecast period.
Based on the application of semiconductors, the market is segmented into system components, organic photovoltaic (OPV) lighting, printed batteries, organic RFID tags, and display applications.
Based on the propulsion types, the market is segmented into polyethylene, polyaromatic ring, and copolymer.
According to the reports, during the projection period from 2019 to 2024, the worldwide market for organic semiconductors is expected to expand at a considerable pace. A study of the organic semiconductor market has been carried out for the regions of North America, Europe, Asia-Pacific, the Middle East, and Africa, as well as Central and South America. As a result of countries such as South Korea, Taiwan, and China being the leading semiconductor manufacturers and having the largest consumer electronics markets, the Asia-Pacific region is expected to hold the largest organic semiconductor market share in the coming years, followed by North America. Europe, on the other hand, is projected to expand at a considerable pace over the next several years.
Organic semiconductor industries are now more developed in nations such as Japan, Germany, South Korea, and the Netherlands, owing to the fact that these countries have sophisticated infrastructural support as well as significant research and development skills. There has been a rise in the number of organic semiconductor suppliers, and it is anticipated that fast advancements will take place throughout the course of the forecasting period. Organic semiconductors are becoming more popular among established component makers as a result of their enormous potential in a wide range of end-use applications, according to a recent report.
Major Key Players
The following report comprises of –
The Scope of Global Organic Semiconductor Market
Organic Semiconductor Market, By Type
Organic Semiconductor Market, By Application
Organic Semiconductor Market, By Region
|Market Size||USD 179.4 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||BASF SE (Germany), Bayer AG (Germany), Koninklijke Philips N.V. (Netherlands), Merck & Co. (US), Novaled GmbH (Germany), Samsung (South Korea), Sony Corporation (Japan), LG (South Korea), Universal Display Corporation (US), Sumitomo Corporation (Japan)|
|Key Market Opportunities||The rising demand for consumer electronics like laptops, TVs, smartphones and computers.|
|Key Market Drivers||
Organic photovoltaic (OPV), component, printed batteries, OLED lighting, display, and organic RFID tags are the most significant applications of an organic semiconductor.
Taiwan, China and South Korea are the leading semiconductor manufacturers in the world, in addition to being the biggest consumer electronics markets, which benefits the market growth in Asia Pacific.
The market is anticipated to attain a CAGR of 22.4% during the appraisal timeline.
Organic semiconductors offer a host of benefits compared to inorganic semiconductors, including lightweight, mechanical flexibility, and low cost. These semiconductors also help design devices without using expensive fabrication methods.
LG (South Korea), Samsung (South Korea), Sumitomo Corporation (Japan), Sony Corporation (Japan), and others are some of the leading players in the APAC market.