The Worldwide Printed Electronics Industry is Expected to Reach $130.8 Billion by 2027
DUBLIN, Sept. 19, 2022 /PRNewswire/ -- The "Printed Electronics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global printed electronics market size reached US$ 53.5 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 130.8 Billion by 2027, exhibiting a CAGR of 16.07% during 2021-2027.
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Printed electronics refer to the electronic devices developed on substrates, such as foil, paper, glass and fabric polymers, using carbon-based compound inks, inkjet printers and flexography, gravure and screen-printing technologies. Some of the commonly used printed electronics include wearable devices, flexible keyboards, electronic skin patches, biosensors, display units, Organic Light Emitting Diode (OLEDs) and photovoltaic cells.
In comparison to the traditionally used electronics, printed variants are more environment-friendly, lightweight, flexible, cost-effective and have lower power requirements. As a result, they find extensive application across various industries, such as aerospace, automotive, healthcare and consumer electronics.
Significant growth in the electronic industry across the globe is one of the key factors creating a positive outlook for the market. With the increasing requirement for next-generation flexible products, there is a rising demand for energy-efficient, thin and sustainable consumer electronics.
Moreover, the widespread adoption of smart and connected devices is providing a thrust to the market growth. There is a shifting consumer preference for printed electronics in wearable devices, smart packaging solutions, medical devices and smart apparels due to the favorable sensing, data storage and transmission properties.
Additionally, various innovations, such as the utilization of additive manufacturing and screen-printing technologies, are acting as other growth-inducing factors. They aid in producing fully electromechanical components with enhanced accuracy using ultravioet (UV) curable, plastisol, water and solvent-based inks. In line with this, printed sensors and panels are also extensively used in the cockpits and navigation systems of aircraft and military vehicles, thereby favoring the market growth.
The competitive landscape of the industry has also been examined along with the profiles of the key players being Agfa-Gevaert N.V., BASF SE, DuPont de Nemours Inc., E Ink Holdings Inc., Molex LLC (Koch Industries), Nissha Co. Ltd., NovaCentrix, Optomec Inc., Palo Alto Research Center Incorporated (Xerox Corporation), Vorbeck Materials Corporation and Ynvisible Interactive Inc.
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SOURCE Research and Markets