ID: MRFR/SEM/5588-HCR | February 2021 | Region: Global | 100 pages
Globally, the printed electronics market is expected to grow from USD 6.24 billion in 2018 to USD 11.50 billion by 2023, at a CAGR of 13.0% during the forecast period, 2018–2013. Developments in IoT and need for efficient and cost-effective development of electronic products are some of the major driving factors for the wide adoption of printed electronics technology and solutions globally. However, lack of expertise and budget constraints to upgrade existing systems act as a major restraining factor for the growth of the printed electronics market in the upcoming years.
Printed electronics involves a set of printing methods and technologies to produce electronic devices using various substrates. Various active or passive devices are created using printed electronics, such as resistors, capacitors, and thin film transistors. It is also widely used and expected to gain huge traction in various application areas including flexible displays, smart labels, active clothing, and animated posters.
Printed electronics has a wide adoption in the industry verticals of consumer electronics, healthcare, automotive, aerospace and defense, retail and consumer goods, and various others. Automotive industry is the largest contributor in the printed electronics market with use cases, such as sensors, lighting panels, and displays. The move towards autonomous driving vehicles offers huge opportunity to the printed electronics vendors to generate revenue from the automotive industry vertical.
Global Printed Electronics Market
Source: MRFR Analysis
The global printed electronics market is segmented into printing technology, application, industry vertical.
By printing technology, the market is segmented into inkjet printing, screen printing, flexographic printing, gravure printing, and others.
By application, the market is segmented into displays, RFID tags, batteries, photovoltaics, sensors, lighting solutions, and other devices.
By industry vertical, the market is segmented into healthcare, consumer electronics, automotive, aerospace and defense, retail and consumer goods, and others.
By region, the market is segmented into North America, Europe, Asia-Pacific and the rest of the world.
The global market for printed electronics market is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of global printed electronics market is studied for North America, Europe, Asia-Pacific, and rest of the world.
North America is expected to dominate the printed electronics market during the forecast period. North America region is considered as most advanced region in terms of development and adoption of innovative technologies in the field of semiconductors. The region has a huge potential for revenue generation in the printed electronics market, particularly from automotive and consumer electronics industry verticals. US is expected to be the dominating country in the printed electronics market in North America region during the forecast period.
Asia-Pacific is expected to grow at the fastest rate during the forecast period. Availability of low cost technologies and presence of many electronic devices manufacturing firms in the region are some of the driving factors for the printed electronics market in the region. China, Japan, and India have been the leading countries in the APAC region in terms of market share and this trend is expected to continue in the upcoming years.
These companies in the printed electronics follow organic as well as inorganic growth approaches, under which, they engage in product development, strategic partnerships, and mergers and acquisitions to offer innovative solutions. The competition in the global printed electronics market is likely to further intensify due to quick technological advancements. These companies are stronlgy focusing on enhancing their product portfolios with latest technologies to deliver advanced products across industries.
The prominent players in printed electronics market are SAMSUNG (South Korea), Agfa-Gevaert (Belgium), BASF (Germany), Thin Film Electronics (Norway), E Ink Holdings (Taiwan), Novacentrix (US), Molex (US), FM Systems (US), Xerox (Palo Alto Research Center) (US), Brightvolt (US), and Intrinsiq Materials (US).
Frequently Asked Questions (FAQ) :
Printed electronics market gained valuation of USD 6.24 billion in 2018.
2020–2027 is the estimated growth period for the printed electronics market.
The developments in IoT and need for efficient and cost-effective development of electronic products are the major driving factors for the proliferation of market globally.
The factor of lack of expertise and budget constraints for upgrading existing systems are becoming major restraint for the growth of the printed electronics market.
As per the study, Asia-Pacific region will be growing at the fastest rate during the estimated period.