Printed Electronics Market Set to Grow at the Fastest Rate- Time to Grow your Revenue

The global printed electronics market is projected to grow from USD 9.9 billion in 2021 to USD 23.0 billion by 2026; it is expected to grow at a CAGR of 18.3% from 2021 to 2026. The most significant factors driving the growth of the printed electronics market include increased demand for printed electronic products in automotive & transportation, growth of the consumer electronics industry, increased adoption of IoT by end-use industries, and significant cost advantages offered by printed electronics.

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Inkjet printing segment to register the highest CAGR during the forecast period

Inkjet printing is a contactless printing process suitable for applications requiring a uniform thickness of printed lines. Unlike screen printing, inkjet printing is used in emerging textile and industrial applications. It can digitally control the ejection of ink droplets of defined volume and precisely position them onto substrates. Ongoing R&D activities globally to reduce the associated costs of materials used in inkjet printing technology are expected to fuel the growth of the inkjet printing technology segment of the market during the forecast period. Owing to this, the inkjet printing segment is expected to witness growth at the highest CAGR during the forecast period.

Display application accounted for the largest share of the printed electronics market in 2021

Displays held the largest share of the printed electronics market. Consumer electronics such as smartphones, tablets, laptops, and home automation devices are increasingly equipped with advanced features and functionalities to enhance the customer experience. Printed displays are mainly used in consumer electronics such as wearables and mobile devices. Increased demand for energy-efficient, thin, and flexible consumer electronics products fuels the demand for printed displays globally. Leading manufacturers have introduced thin, flexible, and energy-efficient displays developed using the organic light-emitting diodes (OLED) technology in the market. OLED technology is one of the major applications of printed electronics and is being used in high-end smartphones.

Aerospace & defense end-use industry to register the highest CAGR during the forecast period

The printed electronics market for aerospace & defense is projected to grow at the highest CAGR during the forecast period. Printed electronics are largely being adopted in the aerospace & defense industry due to low weight & complexity and high reliability, resulting in low maintenance requirements. Moreover, printed electronics technologies can reduce wiring in different systems used in aircraft that include in-flight entertainment systems and aircraft structural health monitoring systems. Printed electronics are largely adopted in the defense industry owing to the increasing defense spending of various countries. The aerospace industry requires consistent production of different electronic systems, leading to the adoption of printed electronics to get optimized, high-quality products.

Asia Pacific accounted for the largest share of the printed electronics market in 2021

The APAC held the major share of the printed electronics market in 2021 and is expected to remain dominant over the forecast period. APAC is a manufacturing hub for electronic devices and components. With the increasing use of printed electronics-based devices in consumer electronics and China and Japan being major producers of consumer electronics, the region is likely to be the fastest-growing market in the coming years. Moreover, the growing demand for automobiles in the region also drives demand for displays and sensors. Factors such as the acceptance of innovative technologies and the increased popularity of advanced consumer electronics are driving the growth of the printed electronics market in this region.

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Major players in the printed electronics market are Samsung Electronics Co., Ltd. (South Korea), LG Display Co., Ltd. (South Korea), Molex, LLC (US), Agfa-Gevaert Group (Belgium), Palo Alto Research Center Incorporated (PARC) (US), DuPont de Nemours, Inc. (US), Nissha Co., Ltd. (Japan), BASF (Germany), NovaCentrix (US), and E Ink Holdings Inc. (Taiwan).The top players have adopted merger & acquisition, partnership, collaboration, and product launch strategies to grow in the global printed electronics market.

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This release was published on openPR.