The printed Electronics Market will exhibit a CAGR of 13% in the forecast period of 2021-2027 and is expected to reach USD 11.50 Billion by 2027
Globally, the size of Printed Electronics Market is predicted to reach a CAGR of 13% and a market valuation of USD 11.50 Billion in the forecast period by 2027 driven by the rapid technological advancements and demand for low-cost components that will propel the market growth extensively.
Printed electronics have various features like adaptability and lightweight, significantly driving the market trends. Due to its advanced features, the industrial verticals are raising significant demand. The market's demand in the developing and developed regions are higher such as North America, Asia Pacific and others. The key industrial players of the Printed Electronics Market support for developments and upgradation of products that position the market on the competitive edge.
These printed electronics are used to develop smart devices, which are acting as a major driving factor in the market. The wide adoption of smart and wearable devices for smart packaging solutions and medical wearables contributes to the Printed Electronics Market growth. Moreover, the growing technological advancements for low-cost components are expanding the market trends at the global level.
Printed electronics are widely used in medical care, and the purchaser of electronic gadgets and sensor areas is propelling its growth rate. The 3D manufacturing process also offers great opportunities to produce electronic devices and components. Due to these factors, the market is driving at a higher pace.
The COVID-19 disease had a severe effect on the Printed Electronics Market. The companies such as LG, Samsung, etc. faced huge financial losses due to the halt in the production of the components. Along with that, the low availability of labour and other components due to travel restrictions also reduced orders for manufacturing.
The rising use of Printed Electronics for the development of connected and smart devices is the major driver for the market. The adoption of wearable devices, intelligent clothing, smart packaging solutions, and medical wearables is playing a major role in the increasing market growth. Furthermore, the rapid technological advancements and demand for low-cost components will propel the market growth extensively.
There is low knowledge regarding the development of inks, substrates to enhance the performance of printed electronics. Due to this reason, the market growth can slow down in the upcoming years. However, the Printed Electronics Market Forecast suggests that the market will have a gradual growth.
The wide range of uses of Printed electronics such as purchaser electronic gadgets, medical care, sensor areas, and auto will amplify the market growth. The process of 3D manufacturing will offer new opportunities to produce electronic devices and components. Hence, the Printed Electronics Market Opportunity will rise in the future.
The low awareness about new technologies and applications is the major hindrance to market growth. The printed electronics enhance the workflow and speed in the manufacturing of electronics devices. But due to less knowledge about the printed electronics, it will be challenging to achieve the required growth.
The Compound Annual Growth Rate (CAGR) of Printed Electronics Market is estimated to reach 13% by the end of the forecast period. The Printed Electronics Market will reach up to USD 11.50 Billion by the end of the forecast period 2021-2027. Various drivers and the development by the market players will enhance the market growth significantly.
With the growing demand for printed electronics for various purposes, the market will have immense growth. The rise in the use of smart devices and will simultaneously enhance the value chain of the market in the upcoming years. The Printed Electronics market PDF signifies that the market will gain various investments and government support as well.
The market segments of the printed electronics market Size is divided into printing technology, materials, application. On the basis of material, the market is divided into Inks and Substrates.
On the basis of segments, the market is divided into dielectrics, contact materials, silicon materials, presentation, semiconductors, and others.
On the basis of Application, the market is divided into biometrics, guard and military, medical care, auto, packaging and transportation, and buyer gadgets.
On the basis of regional, the Printed Electronics Market is divided into Latin America, North America, Asia-pacific, Europe, and the Rest of the World. North America is projected to have the largest printed electronics market Share. According to the MRFR reports, the market is estimated to be dominated by North America. The presence of several market players is the major reason for the significant market share.
Asia-Pacific region will hold the highest growth in the upcoming years as per the Printed Electronics Market Forecast. Developing countries such as India and China will provide immense opportunities for the key players will grow at a significant rate. Along with that, Europe will also grow at a gradual rate in the upcoming years. Hence, the market will propel in the forthcoming years.
The companies in the market are using different market strategies such as product launches, acquisitions, partnerships, acquisitions, mergers, etc. These key players have a major role in enhancing Printed Electronics Market Growth. The Printed Electronics Market Players are listed below.-
TactoTek, a Finland-based company which is a leading provider of Injection Molded Structural Electronics solutions and DuraTech Industries, a custom graphics manufacturer of In-Mold Electronics and printed electronics. Their partnership has announced that DuraTech has given license to TactoTek IMSE technology. DuraTech is a TactoTek Design and Innovate licensee for selling, designing, and producing parts. It is used by TactoTek's intellectual property, which includes 44 patent families with over 130 granted patents and extensive trade secrets for designing and producing IMSE parts. DuraTech will deliver IMSE solutions in North America and other regions from production facilities in the USA.
The report overview of the printed electronics market is listed below-
The report score highlights the different developments and the potential in the upcoming years. It also highlights the drivers, market value, opportunities, etc. The report also covers the key players and their recent developments. Hence, the information provided in this report is gathered from secondary and primary sources.
|Market Size||USD 11.50 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Component, Industry Vertical|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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)|
|Key Market Opportunities||The growing popularity of IoT has given way to a host of lucrative opportunities, boosting the printed electronics application scope across industries.|
|Key Market Drivers||
Printd electronics market gained valuation of USD 6.24 billion in 2018.
2020–2027 is the estimated growth period for the printed electronics market.
The development in IoT and need for efficient and cost-effective development of electronic products are the major driving factors for the proliferation of the market globally.
The facto 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 te study, Asia-Pacific region will be growing at the fastest rate during the estimated period.