Printed Electronics Market Segment Analysis – By Application
The lighting segment of the market is anticipated to register the highest CAGR of 23.5% during the forecast period owing to increase in the use of printed electronics-based lighting solutions in automobiles and home appliances. In recent years automotive manufacturers are increasingly aiming to differentiate their vehicles by adding multiple displays. In addition, OLEDs are likely to be adopted, as the resolution and colour gamut meet the expectations of the consumers. Further rise in demand for economical, customized, and energy-efficient lighting solutions is also fuelling the growth of the market globally.
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Printed Electronics Market Segment Analysis – By End User
Automotive & Transportation sector in Printed Electronics market is expected to witness a highest CAGR of 23.9% the forecast period, as these printed electronics based devices and components such as sensors and displays can be integrated with these vehicles. For instance, there has been an increasing demand for flexible lighting solutions for use in automobiles by the prominent automotive manufacturers such as Ford, General Motors, Nissan, Toyota, BMW, and Audi across the world. The incorporation of sensors or dimming elements in lighting devices and OLED displays is driving the market. In addition to this, the use of conductive elements in seats and windows of automobiles for heating and defogging, are the key applications of printed electronics in the automotive end-use industry which is driving the market in the forecast period 2021-2026.
Printed Electronics Market Segment Analysis – By Geography
Printed Electronics market in Asia-Pacific region held significant market share of 35.2% in 2020, Factors such as the acceptance of innovative technologies and the increased popularity of advanced consumer electronics are primary reasons for driving the growth of the printed electronics market in this region. China, Japan, South Korea, and Australia are major contributors to the growth of the printed electronics market in APAC. APAC being a manufacturing hub for electronic devices and components is a factor driving growth in the region. Large-scale production of electronic components and increased investments in R&D activities related to printed electronics in APAC are factors that are driving the growth of the Printed Electronics market share in the region.
Printed Electronics Market Drivers
Shift to electric vehicles to drive printed electronics automotive market
The electric car market has witnessed rapid evolution with the ongoing developments in automotive sector and favorable government policies and support in terms of subsidies and grants, tax rebates. For instance government of several regions are investing heavily in R&D activities. In 2019, German government has committed to invest more than $3 billion to expand electric car market growth in the region. Major manufacturers such as General Motors, Toyota, and BMW plan to release a potential of 400 models and estimated global sales of 25 million by 2025. In 2021, Ford Motor has committed to increase its investments in electric vehicles to $30 billion by 2025, up from a previous spend of $22 billion by 2023. Similarly, in 2020, Volkswagen, Chinese ventures has committed to invest $17.5 billion in electric vehicles by 2025. The increased adoption of electric vehicles creates opportunities for printed electronics as it is used in battery condition monitoring or health monitoring applications.
Increased use of printed electronics for development of smart and connected devices
IoT has gained the attention of technology vendors, organizations, business decision-makers, and consumers in the recent years owing to continuous advancements taking place in semiconductors as well as the sensor technology, improvements in cellular connectivity and data transfer rates. IoT can be implemented using various types of smart and connected devices. It finds its applications in smart appliances, smart homes, and connected cars, among others. Increasing adoption of IoT in wearable devices, smart packaging solutions, intelligent clothing, and medical wearables has led to rise in demand for low-cost and lightweight printed electronics as it is used for sensing, as well as for secured data storage and data transmission in these devices. Hence these applications are analysed to drive the printed electronics market size in the forecast period 2021-2026.
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Printed Electronics Market Challenges
Significant Alternatives and Lack of awareness about printed electronics
Although Printed Electronics market is growing at significant phase, many challenges still remain in terms of process integration, manufacturability or stability. In the past, much of the research and development for printed electronics has focused on displays. Recently, the focus has slightly shifted towards sensors. In spite of the apparent advantages of printing, other technologies such as vacuum deposition, photolithography and pick-and-place technology are still challenging printed electronics. Furthermore printed electronics offer several benefits by overcoming speed and workflow complexities of traditional approaches. In addition with printed electronics, manufacturers drive innovations and deliver products to the market in less time. Moreover, a number of manufacturers lack awareness about the benefits of printed electronics and as such, have not been able to fully integrate printed electronics with their manufacturing processes.
Printed Electronics Market Landscape
Product launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Printed Electronics market. Printed Electronics top 10 companies include BASF SE, E Ink Holdings Inc., E.I. du Pont de Nemours and Company, Enfucell Oy, GSI Technologies LLC, Molex Inc., NovaCentrix, Samsung Electronics, LG, Dupont among others.
In 2020, Henkel, Quad Industries expanded their printed electronics partnership and worked on different printed electronics projects such as the development of the innovative COVID-19 smart health patch introduced by Byteflies.
In February 2019, Agfa-Gevaert entered into a partnership with TFL (Germany) to focus on the development of Alussa, a dedicated inkjet printing solution to decorate high-quality genuine leathers used by the fashion, upholstery, automotive, aviation and nautical industries.
Printed Electronics market in Asia-Pacific region held significant market share of 35.2% in 2020, Factors such as the acceptance of innovative technologies and the increased popularity of advanced consumer electronics are primary reasons for driving the growth of the printed electronics market in this region.
The lighting segment of the market is anticipated to register the highest CAGR of 23.5% during the forecast period owing to increase in the use of printed electronics-based lighting solutions in automobiles and home appliances
Automotive & Transportation sector in Printed Electronics market is expected to witness a highest CAGR of 23.9% the forecast period, as these printed electronics based devices and components such as sensors and displays can be integrated with these vehicles.
Printed Electronics companies are strengthening their position through mergers & acquisitions and continuously investing in research and development (R&D) activities to come up with solutions to cater to the changing requirements of customers.
A.Printed And Flexible Electronics Market
B.Power Electronics Market
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