Global Printed Electronics Market Report, published by Variant Market Research, forecast that the global market is expected to reach $19 billion by 2024 from $4 billion in 2016; growing at a CAGR of 22.6% from 2016 to 2024. By geography, Asia-Pacific and Europe regions are expected to grow at a CAGR of 23.1% and 22.3%, respectively, during the forecast period.
Low manufacturing cost, increased wide range of substrates, and eco-friendly technology are the major factors driving the global printed electronics market. Moreover, the increased demand for flexible and bendable electronics has also propelled the growth of global printed electronics market. However, lack of consumer awareness and increased competition from non-printed electronic products are the major challenges for competitors. Innovative product developments would provide several growth opportunities for the market in the coming years.
The global printed electronics market is bifurcated by technology, application, and materials. The segmentations by technology include flexography, ink-jet printing, gravure printing, and screen printing. The application segment is further sub-segmented into automotive, retail & packaging, electronics, display, and others. Substrates and Inks are the various classifications of printed electronics market by materials. Screen printing dominated the technology segment with the largest market share in 2016, and is expected to continue its dominance during the forecast period. Inkjet printing is expected to grow at the fastest CAGR, owing to its multiple features such as, light, compact, high resolution, and low cost. Geographically, the market is categorised into North America, Europe, Asia-Pacific and Rest of the World. (RoW).
Asia-Pacific accounted for the largest market share of 47.7% in 2016; owing to augmented manufacturing activities in countries such as Japan, China, and India, which have increased the demand for printed electronics systems in this region. Europe was the second largest market with a total market share of 35.8%.
Market players have used their research & development strategies to increase their market share and global presence. The major players in the market include, T-ink, Inc. (U.S.), BASF SE (Germany), E.I. DuPont de Nemours & Co. (U.S.), Molex, Inc. (U.S.), E Ink Holdings Inc. (China), YD Ynvisible, S.A. (Portugal), ThinFilm Electronics ASA (Norway), PARC, Inc. (U.S.), NovaCentrix (U.S.), and GSI Technologies, LLC (U.S.) among others.