Growing IoT Penetration Projected To Drive Printed Electronics Devices Market Growth
Printed electronics is a technique of printing to make electrical circuits. In this method, the conductive inks and polymers are imprinted onto the foils or fabrics. The printed electronics is relatively a lucrative method in comparison to the traditional techniques of manufacturing capacitors, coils, and transistors. It has broad array of applications in a number of industries comprising electronics, consumer goods, healthcare, and media, among others.
During the forecast period, the global printed electronics market is projected to grow considerably due to factors such as technological improvements in printed electronics. Further, the rising penetration of Internet of Things (IoT), low price of manufacturing, improvisations in digital print technology, and growing need for flexible & robust substrates for manufacturing safe printed electronics. Nevertheless, the need of extremely experienced system integrators, dearth of standardization, and strict norms in medical sectors are factors expected to hamper the expansion of market. Nonetheless, approaches like recent developments, product innovation, mergers & acquisitions, collaborations, partnership, and joint venture are employed by market players to improve their rank within the global printed electronics market. To cite, collaboration was declared by Samsung Electronics in June 2019 with Optomec to utilize the Aerosol Jet 5X system of the latter in the printed electronics lab of the former to facilitate production of next-gen electronics.
The global printed electronics market can be segregated based on printing technology, end-use, material, and region. The market, based on printing technology, is categorized into inkjet printing, screen printing, gravure printing, and flexographic printing. The market, based on material, is divided into inks and substrates. The market, based on end use, is classified into consumer electronics, automotive & transportation, retail & packaging, healthcare, construction & architecture, aerospace & defense, and others.
Regionally, the global printed electronics market is anticipated to be ruled by Asia Pacific during the forecast period owing to the rising implementation of printed electronics technology within the customer products applications along with the booming electronic manufacturing sector. Further, Europe and North America are also expected to witness considerable growth on account of the rising spending in R&D and rising use of the technology in numerous industrial applications like lighting, photovoltaic, and RFID devices.
The major players active within the global printed electronics market comprise LG, Samsung, Agfa-Gevaert, Palo Alto Research Center, Nissha USA, Molex, BASF, Dupont, E Ink Holdings, Novacentrix, Optomec, Ynvisible Interactive, Enfucell, Cambridge Display Technologies, Printed Electronics Ltd, and Thin Film Electronics, among others.