According to a new market report published by Credence Research, Inc. “Global Printed Electronics Market (By Technology (Gravure, Screen Printing, Flexography, Off-set Lithography, Inkjet Printing, and Other Technologies), By Device (Smart Cards, RFID Tags, OLED, Photovoltaics, Sensors, Lighting, and Others), By Application (Consumer Electronics, Retail & Packaging, Automotive, Aerospace, Healthcare, and Other End-use Application) - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 - 2025”, the global printed electronics market is expected to reach US$ xx Bn, expanding at a CAGR of 12.2% from 2017 to 2025.
Printed electronics refers to a printing technique used to develop electronic devices by printing on different substrates. Printed electronics is one of the fastest growing fields and with technology advancements, printed electronics find applications across different products from different verticals including aerospace, healthcare, retail & packaging, and automotive among others. For instance, today, intelligent labels and packaging, flexible screens, and interactive advertisements and books are developed with printed electronics. As demand for thinner electronics expands, printed electronics would increasingly be used to form flexible keyboards, electronic skin patches, and antennas to be used in different products.
Another major reason for the growth of the printed electronics market is the advent of Internet of Things (IoT). With the growth of IoT, need for low cost, light weight technology capable of sensing, securely storing, and transmitting information would drive demand for printed electronics like printed sensors, printed memory, etc. Despite being a fast growing market, one of the major challenges faced by printed electronics manufacturers is that the processes being new, trial-and-error and testing needs to be carried out efficiently.
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The advancements in flexible technologies have led to growing interest in wearable electronics. The market for wearable electronics, which is still in infancy, is expected to witness strong growth, evolving beyond its early adopter stage to reach mass market during the latter half of the forecast period. This, in turn is expected to benefit demand for printed electronics that are integrated into wearable electronics. In terms of device type, smart cards segment led the global printed electronics market. The growth in this segment can be credited to increased use of smart cards for packaging, unique identification verification, transactions (debit cards, credit cards, etc.)