Global Printed Electronics Market to Grow by 21.5% over 2025
A research done by ResearchAndMarkets.com says that the global printed electronics market will grow from USD 7.8 billion in 2020 to USD 20.7 billion by 2025; it is expected to grow at a CAGR of 21.5% during the forecast period.
The growth of the market is mainly driven by the rise in the global demand for energy-efficient, thin, and flexible consumer electronics, and increased use of printed electronics for the development of smart and connected devices.
Also, the high demand for new generation flexible printed electronics, and significant cost advantages offered by printed electronics is set to push the Printed Electronics market.
The lighting application segment of the market is projected to grow at the highest CAGR from 2020 to 2025
Among applications, the lighting segment is projected to grow significantly during the forecast period owing to increase in the use of printed electronics-based lighting solutions in automobiles and home appliances. Rise in demand for economical, customized, and energy-efficient lighting solutions is also fueling the growth of the market globally. Lighting solutions based on printed electronics are rapidly replacing costly tungsten, halogen, and fluorescent lamps.
The automotive & transportation segment is projected to hold the largest size of the printed electronics market during the forecast period
There are wide application areas of devices and components based on printed electronics. These printed electronics based devices and components such as sensors and displays can be integrated with 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, as well as 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.
The APAC region is the largest and the fastest growing region during the forecast period
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 in the region.
Samsung Electronics Co., Ltd. (Samsung) (South Korea), LG Electronics Inc. (LG) (South Korea), Palo Alto Research Center Incorporated (PARC) (US), Agfa-Gevaert Group (Agfa-Gevaert) (Belgium), Molex LLC (Molex) (US), Nissha Co., Ltd. (Nissha USA) (US), DuPont de Nemours, Inc. (DuPont) (US), BASF SE (BASF) (Germany), NCC Nano, LLC (NovaCentrix) (US), E Ink Holdings (US), and Ynvisible Interactive Inc. (Ynvisible Interactive) (Portugal) are the prominent players in the printed electronics market.
