DUBLIN--(BUSINESS WIRE)--The "Printed Electronics Market by Printing Technology (Screen, Inkjet, Gravure, Flexographic), Application (Displays, Sensors, Batteries, RFID, Lighting), Material (Inks, Substrates), End-Use Industry, and Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
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.
The growth of the market is mainly driven by the 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. However, 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 screen printing technology segment is expected to account for the largest size of the printed electronics market during the forecast period
The growth of the screen printing technology segment of the market can be attributed to the increased use of screen printing technology for manufacturing displays and sensors. Screen printing is the most commonly used technology for manufacturing displays of commercialized devices such as smartphones and laptops; this technology is also used to develop sensors and photovoltaic (PV) cells by enabling precise printing of thin and thick lines on substrates.
The lighting application segment of the market is projected to grow at the highest CAGR from 2019 to 2024
Among applications, the lighting segment is projected to grow significantly during the forecast period owing to an 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.
- Increased use of Printed Electronics for Development of Smart and Connected Devices
- Rise in Global Demand for Energy-Efficient, Thin, and Flexible Consumer Electronics
- High Demand for New Generation Flexible Printed Electronics
- Significant Cost Advantages Offered By Printed Electronics
- Knowledge Gap Among Different Disciplines Involved in the Development of Printed Electronics
- Emergence of New Functionalities and Applications of Printed Electronics and Their Integration With Multiple Products
- Employment of Additive Manufacturing for Producing Printed Electronics
- Use of Graphene Ink for the Development of Cost-Effective, Flexible, Water-Repellent, and Highly Conductive Printed Electronics
- Commercialization of New and Cost-Effective Inks
Lack of Awareness Among Manufacturers of Electronic Devices and Components About Benefits of Printed Electronics
- Palo Alto Research Center (PARC)
- Nissha USA
- E Ink Holdings
- Ynvisible Interactive
Other Key Players
- Cambridge Display Technologies (CDT)
- Thin Film Electronics
- Applied Ink Solutions
- Printed Electronics Limited
- Intrinsiq Materials
- Vorbeck Materials
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