Stretchable Electronics Market will exhibit a CAGR of 25.29% in the forecast period of 2020 to 2026 and is expected to reach USD 2981.2 Million by 2026.
Globally, the size of the Stretchable Electronics Market valuation is predicted to reach USD 2981.2 Million by 2026 at a CAGR of 25.29% driven by the rising demand in military and defense, and healthcare industries, which are the major driver of the Stretchable Electronics market.
In the past several years, the Stretchable Electronics Market had experienced immense growth. These stretchable electronics are developed for the production of printed boards of circuits. Several drivers are driving the market such as its flexibility and real-time analysis for better performance. Its uses in various health equipment, defense, etc. will boost the market growth.
Also, the innovation of mechanical designs, material synthesis requires soft substrates. There are various polymers that undergo treatments for changes in size and shape. Also, the use of conventional batteries and electroactive polymers makes it an efficient product. Stretchable Electronics are used in identification tags, flexible screens, IoT, radio frequency identification, etc.
These aforementioned factors will push the growth of the Stretchable Electronics market in the forthcoming years. According to MRFR analysis, North America will hold the largest market share in the future years. Also, various companies are implementing new technologies that will enhance stretchable electronics efficiently. Overall, the Stretchable Electronics Market will experience robust growth in the future.
With the advent of COVID-19 disease, several industries across the world faced a huge economic crisis. The governments of several countries imposed a lockdown for several months which caused a huge decline in Stretchable Electronics Market. It caused a delay in the supply of components that created a huge lapse in the industry. However, companies like Philips announced the launch of the biosensor to detect health symptoms among patients. This also helped to identify coronavirus patients and provide them better treatment.
As per the stretchable electronics review by MRFR analysis, various drivers will improve the Stretchable Electronics Market growth. The innovation of new technologies for fabrication strategies, mechanical designs, etc. that requires soft substrates will be beneficial. The rising demand in military and defense, healthcare industries, is the major driver of the Stretchable Electronics market. The rising need for low-weight products and better technologies will drive the market.
The time-consuming process for the manufacturing of stretchable electronic devices will be a major restraint. Also, the lack of new and advanced devices can hamper the Stretchable Electronics Market growth in the future years.
The rising need for the development of integrated devices for low power consumption will provide new growth opportunities. Also, its environmental-friendly uses will further boost the electronics market. The various uses in the sports industry will also provide new opportunities to enhance market growth. The new applications and functions for the integration of multiple products will improve the market.
The less awareness and concerns regarding the Stretchable Electronics Industry will be a huge challenge to cope for the companies. Also, the low availability of skilled professionals can restrict market growth.
As per the MRFR analysis, the Global Stretchable Electronics Market will have immense growth. The Compound Annual Growth Rate (CAGR) is estimated to reach up to 25.29%. It is evaluated that the market value will expand up to USD 2981.2 Million in the forecast period 2020–2026. Also, the electroactive sub-segment will register a notable CAGR. With several drivers and innovations major Stretchable Electronics Manufacturers, the market will grow at a significant rate.
Value Chain Analysis
The value chain of the market will strengthen with the growing Stretchable Electronics Market Trends. Its uses in the healthcare industry, defense, aerospace, etc. will further increase its market value. Growing opportunities such as in-mold electronics, stretchable sensors, structural electronics, conductive films, etc. will also improve the value chain of the market. Even companies across the world are developing new products and upgrades to enhance the market.
The Stretchable Electronics Market Size is divided into application and components. Based upon components, the Stretchable Electronics Industry is divided into Stretchable Batteries, Photovoltaic, Electroactive Polymer, Stretchable Circuits, and Stretchable Conductor. The sub-segment of electroactive polymer will have the largest share with 26.64% in the future years. After that, stretchable batteries will hold the second position in the market share.
Based upon applications, the Stretchable Electronics Industry is bifurcated into Consumer Electronics, Defense and Aerospace, Automotive Electronics, Healthcare, and others.
Regionally, the Stretchable Electronics Market Size is divided into Europe, North America, Asia-Pacific, South America, Middle East, and Africa. As per the analysis, North America will hold the largest market share in the future years. It is due to the rapid adoption of advanced technologies and the development of new products. Also, rising investments for the development of touch sense among electronic devices, the Internet of Things, etc. will boost the market growth.
Secondly, Europe will hold the second-largest Stretchable Electronics Market Share in the forthcoming years. Countries like the UK, Spain, Germany, etc. will provide new opportunities for development and growth.
Also, the Asia-Pacific region will record robust growth in the upcoming years. The rising use of stretchable batteries and photovoltaic cells is leading to immense growth. Also, the growing investments in the companies will improve the market exponentially.
The Stretchable Electronics Industry is highly fragmented with the presence of several companies. These companies do acquisitions, collaborations, product launches, mergers, etc. to expand their brand portfolio. This also helps to innovate and develop new products. Below is the list of important Stretchable Electronics Companies-
The overview of the Market Forecast is mentioned below-
Report Score and Segmentation
The report score gives information about the Market Forecast. It highlights the various factors and potential of the market in the future years. The information provided in the report is gathered from various secondary and primary sources.
|Market Size||USD 2981.2 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Component, Applications and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Palo Alto Research Center Incorporated (US), PARC (US), Adidas AG (Germany), 3M Company, DuPont (US), 3M Company, Koninklijke Phillips N.V. (Netherlands), BodyMedia (US), Cambrios (US), Apple Inc. (US), Physical Optics Corporation (US), PowerFilm (US), MC10 (US), IDUN Technologies|
|Key Market Opportunities||The rising need for the development of integrated devices for low power consumption|
|Key Market Drivers||
The global stretchable electronics market is expected to record a substantial market valuation of up to USD 763 million by 2023.
A few major market players operating in the global stretchable electronics market are 3M (U.S), BodyMedia (U.S), Physical Optics Corporation (U.S), DuPont (U.S), and MC10 (U.S).
The stretchable sensor segment is slated to expand as the fastest-growing segment.
The consumer electronics segment is expected to witness substantial growth.
The global stretchable electronics market is projected to register a moderate 64% CAGR in the forecast period.