Wilmington, Delaware, United States, May 05, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - Rise in R&D activities in printing technologies used for the development of flexible sensors is likely to accelerate printed and flexible sensors market development. Rapid pace of utilization of flexible and wearable sensing technologies in wearable consumer electronics and real-time healthcare monitoring applications is anticipated to offer significant business opportunities to market players.
The global printed and flexible sensors market was valued at US$ 1.4 Bn in 2022 and is projected to advance at a CAGR of 13.4% from 2023 to 2031 and reach US$ 4.1 Bn by the end of 2031. Continuous development of high-quality materials, such as novel functional ink materials, and increase in advancement in 3D printing technology are projected to pave the way for low-cost fabrication method for flexible sensors and electronics.
Introduction of flexible and stretchable materials that can be used to fabricate sensors in various topologies and geometries is expected to boost the printed and flexible sensors industry. Recent market trends indicate the rise in demand for IoT sensors and solutions in various industries, especially packaging.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | USD 1.4 Bn | |
| Estimated Value | USD 4.1 Bn | |
| Growth Rate - CAGR | 13.4% | |
| Forecast Period | 2023–2031 | |
| No. of Pages | 180 Pages | |
| Market Segmentation | Type, Technology, Material, End-use Industry | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | Brückner Maschinenbau GmbH & Co. KG, Cicor Management AG, Flexible Circuit Technologies, Flexpoint Sensor Systems Inc., Henkel Group, Jabil Inc., KOMURA-TECH CO., LTD, Molex, LLC, Nissha Co., Ltd., Optomec, Inc., PCB Connect, TRITEK CO., LTD., Witte Technology GmbH, ISORG SA, Tekscan, Inc., Thin Film Electronics ASA | |
Key Findings of Study
- Rise in Usage of Printed Flexible Electronics in Biomedical Applications: Increase in adoption of tactile sensors in biomedical applications is expected to offer lucrative opportunities to companies in the market. Companies are offering a wide range of flexible and stretchable functional sensors to cater to emerging healthcare and medical engineering applications.
- Biomedical printed flexible sensors are used in a host of monitoring and diagnostics applications. An example is IoT-based based tactile foot pressure in-sole sensors. Rapid rate of adoption of flexible and wearable physical sensors in biomedical applications is estimated to fuel the market. Surge in application of wearable biomedical devices in preventive medicines and implantable devices for drug delivery is likely to boost the market size in the near future.
- High Preference for Ink-jet Printing Technology: In terms of technology, the ink-jet printing segment is projected to expand at a CAGR of 14.5% from 2023 to 2031. Ink-jet printing is preferred due to several benefits, such as low cost, easy fabrication process, and light weight. Surge in usage of ink-jet printed flexible sensors in disease diagnosis, food monitoring, and health sensing is estimated to offer lucrative opportunities to market players.
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Key Drivers
- Rise in usage of printed sensors and sensing devices in several applications, such as environmental testing, medical devices, industrial automation, consumer electronics, automotive, and transportation, is a key factor driving the global printed and flexible sensors market. Surge in adoption of smart consumer electronics devices is expected to propel the market.
- Rapid advancement in printing technology is driving the usage of printed sensors in medical and healthcare applications. Surge in consumer demand for continuous health monitoring and diagnostic medical devices is anticipated to broaden the market outlook.
Regional Growth Dynamics
Asia Pacific accounted for 43.5% market share in 2022. South Korea, China, and Japan are expected to be lucrative regions of the market in Asia Pacific. Surge in adoption of the printed electronics technology in biomedical, automotive, and aerospace industries is estimated to augment the market value in the near future.
North America held the second-largest share of the global market in 2022. Considerable advancement in flexible and wearable physical sensing platforms is expected to bolster the market size in the region. Surge in demand for printed electronics in a wide range of applications, especially automotive and aerospace industries, is anticipated to augment market expansion in North America.
Rapid pace of development of novel substrate materials and ink materials that can be incorporated with physical sensing platforms is likely to offer new revenues streams for companies operating in the market.
Competition Landscape
Most of the leading companies are focusing on new product development and extensive R&D activities in order to increase their market share. Key players are also focusing on product portfolio expansion. The business landscape is characterized by the presence of many medium-to-large scale vendors.
Prominent companies in the global printed and flexible sensors market are Cicor Management AG, Jabil Inc., Molex, LLC, ISORG SA, Tekscan Inc., Henkel Group, PCB Connect, and Thin Film Electronics ASA.
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Printed and Flexible Sensors Market Segmentation
Type
- Biological Sensors
- Capacitive Touch Sensors
- Gas Sensors
- Image Sensors
- Printed Photodetectors
- Temperature Sensors
- Proximity Sensors
- Others (Piezoresistive Sensors, Piezoelectric Sensors, and Pressure Sensors)
Technology
- Flexography
- Ink-jet Printing
- Screen Printing
- Offset Lithography
- Others (Gravure Printing, Aerosol Jet Printing, etc.)
Material
- Substrates
- Organic Materials
- Polymers
- Papers
- Fabrics
- Inorganic Materials
- Silicon
- Glass
- Metals
- Organic Materials
- Inks
- Conductive Inks
- Dielectric Inks
- Semiconductor Inks
End-use Industry
- Automotive and Transportation
- Consumer Electronics
- Healthcare
- Aerospace & Defense
- Industrial
- Others (Textile, Building & Construction, Food & Beverage, etc.)
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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