Printed Electronics Market To Witness Massive Growth By 2030 |...

Printed Electronics Market To Witness Massive Growth By 2030

Posted 2024-10-15 10:08:48

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Printed Electronics Industry

The global printed electronics market size was valued at USD 8.66 billion in 2021 and is anticipated to grow at a compound annual growth rate (CAGR) of 22.3% over the forecast period as printed electronic products are gaining rapid traction. The estimated escalation of the technology is attributed to its ability to be incorporated in a variety of dynamic application areas, such as the Internet of Things (IoT) and consumer electronics. The increasing penetration of IoT is providing several growth opportunities, widening the scope of printed electronics applications across the sector. In addition, the rising demand for advanced OLED displays and printed RFID devices are paving the way for increasing the adoption of the technology owing to its low production cost, higher efficiency, and low power consumption.

Printed electronics has been a significant research arena, focusing on continuous upgrades and improvisations to enhance the existing abilities and for exploring more applications across various fields. Increased investments in R&D by various associations, organizations, and manufacturers over the last few decades have led to several benchmarking innovations and developments in this technology. The end-product manufacturers majorly include the producers of consumer electronics, such as IoT devices, smartphones, display devices, and other communication devices.

Gather more insights about the market drivers, restrains and growth of the Global Printed Electronics market

Printed Electronics Market Segments:

COVID-19 Impact Analysis

The COVID-19 pandemic had a slightly negative impact on the market. The initial strict lockdowns imposed by the governments of various nations, coupled with the strict travel restrictions, affected the day-to-day operations of the target market as well as the end-use industries, such as automotive, consumer electronics, etc. The supply chain disruptions became a major hindrance in the supply of raw materials as well as created a roadblock for the distributions and shipments. However, the target market was considerably fast in adapting to the challenges caused by the pandemic. It has helped provide smart solutions in the fight against COVID-19.

Material Insights

On the basis of materials, the global market has been further segmented into inks and substrates. The ink materials segment accounted for the largest share of more than 78.00% in 2021. The segment is expected to retain its dominant position growing at the fastest growth rate during the forecast period. The extensive application of printed electronics technology has enabled the considerable adoption of inks in various applications across different industrial sectors. Therefore, the segment is projected to contribute significantly to the growth of the overall market over the forecast period.

Devices Insights

On the basis of devices, the global market has been further segmented into display devices, photovoltaic, lighting, RFID, and other devices. The display devices segment accounted for the largest share of more than 36.00% of the global revenue. The segment is anticipated to maintain its dominance over the forecast years. Printed electronics technology is undergoing a steady adoption rate in other devices segment that includes printed batteries, sensors, medical & healthcare, and media. The RFID device segment is witnessing notable traction across the globe owing to the increasing application of RFID in the rapidly growing packaging industry.

Technology Insights

On the basis of technologies, the global market has been further segmented into inkjet, screen, gravure, and flexographic technologies. The screen-printing technology segment dominated the global market in 2021 and accounted for the maximum share of more than 64.00% of the overall revenue. The segment is expected to continue dominating the global market over the forecast period. The screen-printing technology uses a mesh to transfer ink onto a substrate. High quality and durable outputs are obtained with this method of printing technology. However, the inkjet printing technology is estimated to witness the fastest growth rate over the forecast period.

Regional Insights

The segment growth can be attributed to the features of inkjet technology, such as compactness, the flexibility of printing, and low material consumption as well as wastage & initial setup costs. The inkjet printing technology involves directing ink onto a substrate. The inkjet technology is suitable for a wide range of scales in production. It is used for prototyping as well as large-scale industrial production. Ink consumption and material wastage are minimal with inkjet technology and it is flexible with regard to its positioning within a process.

Browse through Grand View Research's Electronic Devices Industry Research Reports.

The global Internet of Things (IoT) market size was valued at USD 1.18 billion in 2023 and is projected to grow at a CAGR of 11.4% from 2024 to 2030.
The global consumer electronics market size was valued at USD 1,068.22 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.6% from 2023 to 2030.

Key Companies & Market Share Insights

Companies are focusing on expanding their business across different regions to cater to the growing consumer demand. Companies are targeting emerging markets to expand their customer base through partnerships and acquisitions. The marketplace is witnessing a focused competition between the key players for understanding the market and establishing domination via rigorous R&D, innovative product launches, and enhancements in printing capabilities. Companies are also engaging in agreements to gain a competitive edge in the market. For instance, in April 2021, E Ink Holdings Inc. formed an agreement with DATA MODUL, a company that provides touch, display, and embedded monitors, for reselling its products focusing on the U.S. and European markets. Some of the prominent players operating in the global printed electronics market are: