LOS ANGELES, Feb. 04, 2020 (GLOBE NEWSWIRE) -- The global printed electronics market size is poised to reach around US$ 20,461 million by 2026 and is expected to register a CAGR of above 18% during the forecast period 2019 to 2026.
Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Printed Electronics Market (Printing Technology: Screen Printing, Inkjet Printing, Flexographic Printing, and Gravure Printing; Material: Substrates and Inks; End Use: Automotive & Transportation, Consumer Electronics, Healthcare, Retail & Packaging, Aerospace & Defense, Construction & Architecture, and Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026”.
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The rapid technological advancements in electronic sector and manufacturers approach towards catering the ongoing demand from consumers in order to make the devices more small and smart are factors augmenting the global market growth. With the surge for smart consumer electronics that are thinner and handy is resulting in manufacturers focus on product innovation with use of printed electronic in keyboards, antennas, etc.
Electronic manufacturers are focused on providing smart devices. This is due to arrival of IoT in emerging economies along with inclination towards connected devices from various industry verticals is another factors impacting the market growth.
Technological advancements in healthcare sector along with high investment by major players for development of smart medical devices that are cost-effective and easily disposable are expected to support the market traction. Medical device manufacturers are inclining towards development smart implants, skin patches that are reliable and printed electronics tend to be a better option. Moreover, increase in focus on automated drug delivery by manufacturers, coupled with applicability of printed electronics in order to make it more effective is expected to support the market growth.
Gradual increase in healthcare standards in developing countries is attracting medical device manufacturers as they are more focused in providing the devices that comfort the patient. With the smart transformation in devices that provide medic professional access to in-home care and monitoring in order to take faster and smart decisions that would provide better patient outcomes. The devices that are applied to the body are equipped with sensors that report on real-time basis along with moisture sensing system that help in optimizing patient health and comfort.
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However, factors such as high cost associated with devices and complexity in manufacturing of these devices are some factors hampering the global market growth. In addition, lack of awareness among electronic manufacturers related to benefits associated to printed electronics is expected to further challenge the market growth.
Factors that are supposed to create new opportunities over the forecast period are product innovation, high spending on R&D activities along with new innovative product launches. Furthermore, business development activities such as overseas expansion, strategic partnerships, etc, are expected to further support the revenue growth of market.
North America is expected to account for significant revenue share due to high demand for smart consumer wearables and high adoption of connected devices from various end use industries. In addition, presence of major players operating in the region along with new product launches is expected to further support the regional traction.
Asia Pacific is expected to witness faster growth in the coming years, owing to high presence of electronic manufacturers operating in the countries such as India, China, and South Korea in this region. In addition, high demand from consumers for thin and flexible consumer electronics is resulting in manufacture inclination towards catering the ongoing demand with more cost-effective approach is expected to further support the region growth.
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Moreover, major players approach towards emerging economies due to trouble-free availability of raw material and low labor cost is expected to positively impact the region growth.
Some players operating in the global printed electronics are Samsung, LG, Palo Alto Research Center (PARC), Agfa-Gevaert, Molex, Nissha USA, Dupont, BASF, Novacentrix, E Ink Holdings, and Ynvisible Interactive. The competitive scenario is very high as the manufacturers are focused on business development and increasing the profit share. Moreover, they are focused on product development that is expected to attract more customers base which is expected to further increase the competition.
Key Findings
The global printed electronics market was valued at around US$ 5 Bn in 2018. Among the end use segment the consumer electronics segment is expected to contribute significant revenue shares in the market globally.
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