Global Printed Electronics Market is expected to grow at a CAGR of 24.07% to total US$28.490 billion by 2022, increasing from US$9.692 billion in 2017. Printed electronics refers to the technologies to print electronic components and electronic devices on various substrates. It is required for applications such as displays, industrial applications including RFID, batteries, packaging and consumer applications, sensor and lighting. The major factors propelling the growth of the market are the cost advantage in the fabrication of roll-to-roll printing and flexible printed electronics for the packaging industry. Moreover Printed electronics help reduce environmental impact, energy consumption, and material wastage. However, the major restraining factor is with regards to process integration, manufacturability, and stability. Other major technologies that pose challenge the printed electronics market include vacuum deposition, photolithography, and pick-and-place technologies.
By technology segment, Screen printing accounted for the significant share in 2016 and is expected to grow at a decent rate. Screen printing has numerous advantages over other printing technologies such as durability, versatility, speed, and affordability. These advantages enhance the adoption of screen printing technology by industries.
By application segment, lighting is expected to grow at a high CAGR. The major factors behind this growth are penetration of LEDs coupled with the adoption of smart lighting across industries. The developing energy infrastructure and government support further contribute to the market growth significantly. Growing sensor market owing to recent advances in technology and decline in the cost of smartphones, diagnostic devices, and others is expected to boost sensor segment of printed electronics market in years ahead.
Substrates market is expected to grow at a higher rate over the projected period. The ongoing research and development activities in this area coupled with its expanding applications drive the substrates segment growth.
Asia Pacific accounted for the biggest share of the printed electronics market in 2016 and is expected to grow at a healthy CAGR over the projected period. APAC is home to many electronics manufacturing companies that mainly reside in rapidly developing economies like China, South Korea, and Japan. Moreover, factors like rapid industrialization and supportive government regulations such as FDI, trade agreements will significantly contribute to the printed electronics market growth over the forecast period.
The global market for printed electronics has several local, regional and international players. In order to be ahead of the competition, the vendors are increasingly focusing on industry integration. The vendors are also focusing on product innovation and extension. The supportive government policies for new entrant and low exit barriers is expected to attract new player while enhancing the competitive rivalry in years ahead. The international players are expected to expand their market shares with the acquisition of local vendors over the projected period.
Printed Electronic market has been segmented by technology, applications, materials, and geography.
Europe Middle East and Africa