The Global Printed Electronics Market was valued at US$ 3,345.0 million in 2015 and is projected to expand at a CAGR of 21.3% during the forecast period (2017–2025), as highlighted in a new report published by Coherent Market Insights. Growing demand for smart devices and displays is one of the major driving factors for the market. Continuous technological advancement in the field of electronic components that use printed electronics in turn is having a positive impact on the market for printed electronics globally.
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The demand for printed electronics is anticipated to surge over the forecast period as growing demand for printed batteries and printed antennas is one of the key reasons behind the growth of printed electronics globally. Printed electronics are required for the mass production of tags, color e-papers and smart labels which is another prime factor fueling the market. Smart touch devices and displays are anticipated to contribute in the positive growth of the printed electronics market over the forecast period. Easy production and integration, low cost along with flexible form factor are some of the major advantages of printed electronics which is contributing in the positive growth of the market.
The growth in the revenue of the global printed electronics market is also attributable to growing application of the printed sensors and batteries in various industries. Increasing application of printed batteries in different medical devices is also considered as one of the drivers for the market. Medical sensors and diagnostic devices are some of the prime application areas of the printed electronics. Wireless sensors, smart cards, portable electronic devices are core application areas for the printed electronics globally, which is anticipated to boost the growth of the market over the forecast period.
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Printed electronics are primarily used in smart labels, as they offer rapid replacement for conventional labels. The wide verity of applications of printed electronics in flexible displays is due to properties such as light weight, ultra-thin, bendable, shatter-proof energy efficient, portable and unbreakable. Furthermore, increasing utilization of printed electronics in memory or logic and different sensors propels growth of the market. Increasing demand for Internet of Things (IoT) applications and significant cost advantages provided by the printed electronics products is boosting growth of the printed electronics market. Moreover, new portable and miniaturized electronic devices are driving growth of the global printed electronics market. R&D in the field of printed electronic materials is also expected to drive the market over the forecast period. Majority of printed electronics and equipment manufacturers are developing new products to maintain the dominant position in the market. However, electrical conductivity in printed electronic materials have certain technological complexities with some substrates or materials, restraining growth of the market. However, rising application of printing technologies in memory, logic, energy storage devices, mobile chips and printed circuit boards are expected to drive growth of the market over the forecast period.