Key Emerging Trends in Printed Electronics Market

Northbrook, USA, 2020-Jan-13 — /EPR Network/ —

The printed electronics market is projected to grow from USD 9.8 billion in 2019 to USD 19.8 billion by 2024; it is expected to grow at a CAGR of 15.1% from 2019 to 2024. Major factors driving the growth of the market include increased use of printed electronics for the development of smart and connected devices, rise in the global demand for energy-efficient, thin, and flexible consumer electronics, high demand for new generation flexible printed electronics, and significant cost advantages offered by printed electronics.

The emergence of new functionalities and applications of printed electronics and their integration with multiple products, the employment of additive manufacturing for producing printed electronics, and the use of graphene ink for the development of cost-effective, flexible, water-repellent, and highly conductive printed electronics are expected to act as growth opportunities for the printed electronics market. The knowledge gap among different disciplines involved in the development of printed electronics is expected to inhibit the growth of the printed electronics market. The commercialization of new and cost-effective inks and the lack of awareness among the manufacturers of electronic devices and components about the benefits of printed electronics act as challenging factors for the market.

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The inkjet printing segment of the market is projected to grow at the highest CAGR during the forecast period. Inkjet printing is a contactless printing process, which is suitable for applications requiring a uniform thickness of printed lines. Unlike screen printing, inkjet printing is used in emerging textile and industrial applications, among others. It can digitally control the ejection of ink droplets of defined volume, and precisely position them onto substrates.

The lighting application segment of the printed electronics market is projected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to an increase in the use of printed electronics in automotive lighting solutions and home appliances. Rise in demand for economical, customized, and energy-efficient lighting is also fueling the growth of the lighting segment of the market. Lighting based on printed electronics is rapidly replacing costly tungsten, halogen, and fluorescent lamps.

The printed electronics market in APAC is projected to grow at the highest CAGR from 2019 to 2024. Countries such as China, Japan, South Korea, and Australia are major contributors to the growth of the printed electronics market in the region. Factors such as the acceptance of innovative technologies and the increased popularity of advanced consumer electronics are driving the growth of the printed electronics market in APAC. The region is a manufacturing hub for electronic devices and components. The growth of the printed electronics market in APAC can be attributed to the large-scale production of electronic components and increased investments in R&D activities related to printed electronics in the region.

The aerospace & defense segment of the printed electronics market is projected to grow significantly during the forecast period owing to the increasing use of printing electronics-based lighting in automobiles and home appliances. Printed electronics are largely being adopted in the aerospace & defense industry owing to their lightweight, less complexity, and high reliability, which ultimately results in their low maintenance requirements.

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Continuous technological developments and innovations in sensors, integrated circuits (ICs), batteries, displays, printing technologies, and printing materials are fueling the growth of the printed electronics market. Printed electronic devices and components are used in the Internet of Things (IoT) applications. They are expected to be integral solutions for various applications in the future. Mass production of flexible, printed lighting solutions is expected to take place in the near future. Furthermore, the commercialization of portable, foldable, rollable, and stretchable displays is also is taking place worldwide. The seamless integration of printed sensors, batteries, and other components with a wide variety of applications such as smart homes, smart packaging, and advertising is expected to fuel the growth of the printed electronics market globally.

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