How much will the Printed Electronics industry be worth in the Future????
The global printed
electronics market size is
projected to reach USD 19.15 billion by
2025, at a CAGR of 8.9%
according to a new report by Grand View Research, Inc. The surging demand for
the flexible electronics at low manufacturing costs and the need for
eco-friendly technologies is paving the way for increased adoption of the
technology.
The global electronics devices market
(including consumer electronics and industrial electronics devices) is expected
to be impacted significantly by COVID-19 as China is one of the major suppliers
for the raw materials (used to manufacture devices) as well as the finished
products. The industry is on the brink of facing a reduction in production,
disruption in supply, and price fluctuations. While this can vastly encourage
local manufacturers to step up and address the growing demand, the scarcity of
raw material can still pose a challenge to this industry. The sales of
prominent electronic companies is expected to be affected in the near future.
The report will account for Covid19 as a key market contributor.
Additionally, the increasing
penetration of IoT worldwide is proving to be a prime factor in pulling the
printed electronics market over the forecast period. The continuously growing
demand for IoT in the telecommunication industry for enhancing the network and
optimizing the performance along with operations is expected to propel the
application of technology over the forecast period.
Numerous technological advancements
and developments have led to the evolution of various electronic gadgets and
instruments. The growing awareness and user-friendly technologies are leading
to the early adoption of these innovative products significantly.
Competent players of the industry are
investing largely on the related R&D activities in order to enrich the
product portfolios and establish their presence in the market. Eventually,
adoption of the efficient and reliable technologies such as printed electronics
has turned out to be a necessity for the manufacturers across the globe.
Therefore, the printed electronics is anticipated to seek a notable attention
across the consumer electronic sector over the forecast period.
The market is categorized based on the
materials needed, technologies, and the devices holding a major application
over the forecast period. The Asia Pacific region contributes to the major
demand of the conductive inks and is expected to hold the grip over the
estimated time. This demand can be accredited to the increased production of
consumer electronics across the regional countries.
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However, the North America and
European countries such as UK, Germany, and Norway includes various
organizations and associations involved in the promoting and investing in
R&D for developing the printed electronics technology. Furthermore, the
Asia Pacific region is also expected to witness heavy demand which has led the
companies to invest heavily for enhancing the ink quality, reliability, and
other conductive properties.
The characteristic features of the
inkjet technology such as less ink consumption and material wastage,
flexibility, compactness, and less initial investment is leading the technology
to experience a noteworthy swift over the estimated period. Furthermore, printed
electronic RFID devices is another segment to observe a remarkable rise over
the forecast period owing to the demanding application in the packaging sector.
Hence, impacting positively for strengthening the global printed electronics
market across the globe.
Further key findings from the report suggest:
·
The market growth can be
accredited to the increasing adoption of the inkjet technology, the growing
display and printed RFID devices segments.
·
The increasing awareness
regarding the conservation of natural resources is leading to the adoption of
eco-friendly alternatives, such as the adoption of photovoltaic devices which
is further attributing the technology growth.
·
Conductive inks and the screen
printing technology are the two segments dominating the overall printed
electronics market constituting the major share.
·
Various organizations and
associations are promoting the printed electronics technology in the European
countries such as Germany and UK, constituting for a considerable share in
2015.
·
The key industry participants
include Enfucell Oy, GSI Technologies, NovaCentrix, and T-Ink, Inc. The major
enhancement strategies followed by the competent players include signing
partnerships or distribution agreements, mergers, and acquisitions along with enriching
their portfolios by undertaking continuous R&D.
The
global printed electronics market size was valued at USD 3.02 billion in 2015
and is anticipated to spectate a significant growth as printed electronic
products is gaining a rapid traction. The estimated escalation of the
technology is attributed to the ability to be incorporated in a variety of
dynamic application areas, such as IoT and consumer electronics.
The
increasing penetration of IoT is providing several growth opportunities,
enlarging the scope of printed electronics applications across the sector.
Additionally, the rising demand for advanced OLED displays and printed RFID
devices are paving the way for increasing adoption of the technology owing to
its low production cost, higher efficiency, and low power consumption.
Printed
electronics has been a significant research arena, focusing on continuous
upgrades and improvisations to enhance the existing abilities and for exploring
more applications across various fields. Increased investments in the R&D
by various associations, organizations, and the manufacturers over the last few
decades have led to several benchmarking innovations and developments in the
technology.
The
end-product manufacturers majorly include the producers of consumer products,
such as IoT devices, smartphones, display devices, and other communication
devices. The manufacturers implement the technology into various products based
on the necessity and supply to the distributors or retailers for sales
purposes. The prominent players in the industry are focusing on mergers and
acquisitions or distribution partnerships to establish the grip in the emerging
regions such as Asia Pacific.
For
instance, Thin Film Electronics ASA (U.S.) has signed a distribution agreement
with a Chinese company, CymMetrik. The agreements aim toward the expansion of
sales, particularly in China, Taiwan, India, and other Asia Pacific nations.
The printed electronics technology is experiencing heavy demand in the
continent owing to the increasing consumer electronics manufacturing practices
and thus, expected to gain considerable traction over the estimated time.
Browse Press
Release of this report:
Grand View Research has segmented the
global printed electronics market on the basis of material, technology, device:
Printed Electronics Material Outlook (Revenue, USD
Million, 2014 - 2025)
·
Ink
·
Substrate
Printed Electronics Technology Outlook (Revenue, USD
Million, 2014 - 2025)
·
Inkjet
·
Screen
·
Gravure
·
Flexographic
Printed Electronics Device Outlook (Revenue, USD Million,
2014 - 2025)
·
Display
·
Photovoltaic
·
Lighting
·
RFID
·
Others
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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