Printed Electronics Market to be worth US$65.0 Bn by the end of 2024
Posted: Apr 20, 2019
Transparency Market Research observes that the global printed electronics market show a very fragmented competitive landscape. The leading players defining the landscape are LEONHARD KURZ Stiftung &Co. KG, E Ink Holdings Inc., Agfa-Gevaert N.V., BASF SE, and Samsung Electronics Co., Ltd. These players are expected to emphasize on improving their geographical presence through mergers and acquisitions. Analysts advice that the vendors should focus on minimum material consumption and high-speed fabrication. The growing demand for flexible electronics at affordable costs and energy-efficient technology will prove to be key trends that companies operating n the global printed electronics market could benefit from.
According to Transparency Market Research, the global printed electronics market was worth US$25.4 bn in 2015 and is projected to be worth US$65.0 bn by the end of 2024. During the forecast years of 2016 and 2024, the global printed electronics market is expected to exhibit a CAGR of 11.0%. Out of the various application segments, the retail and packaging segment is expected to dominate the global market for printed electronics between 2016 and 2024 as the demand for smart packaging is expected to be on the rise. In terms of geography, Asia Pacific is projected to global printed electronics market as the automotive industry in the developing economies of Japan, India, and China witness a phenomenal rise.
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Printed electronics use screen printing, inkjet printing, gravure, flexography, and offset lithography techniques to electrical devices on various materials. Printed electronics are predominantly used in a wide range of industries such as consumer electronics, healthcare, media, and automotive. Thus emergence and steady growth of these end-user industries has had an excellent impact on the global market. Growing sales of automobiles in developing economies with improving disposable incomes is created several lucrative opportunities for the vendors in the global printed electronics market.
In the coming years, the global market for printed electronics market is also likely to benefit from increasing uptake of smart displays and smart devices. Constant upgrades to the healthcare sector with adoption of new-age medical sensors and diagnostic devices is also augmenting the global printed electronics market. As demand for active clothing, smart labels, decorative and animated posters, and flexible displays rises it is projected to create a positive atmosphere for the global market for printed electronics.
Despite the strong market drivers, the global printed electronics market is likely to be pulled in the opposite direction. Analysts anticipate that global printed electronics market is likely to be restrained by possible technological complexities along with issues pertaining to electricity and conductivity with a wide range of substrates or materials. However, the report states that the widening application of printing technologies in several energy storage devices and photovoltaic cells are expected to create lucrative opportunities for the global printed electronics market during the forecast period.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materia