Printed Electronics Market Technological Advancements, and the Emergence of the Retail Sector
The growing demand for smart labels, flexible displays, active clothing, animated and decorative posters is expected to boost the growth of the global Printed Electronics Market. The global printed electronics market is estimated to benefit from emerging trend of minimal material consumption and high-speed fabrication. Collectively, these factors have brought down the processing costs, which, in turn, has had a positive effect on the global printed electronics market. The research report states that the global market will be worth US$65.0 bn by the end of 2024 as compared to US$25.4 bn in 2015. During the forecast period of 2016 and 2024, the global market will progress at a CAGR of 11.0%. The increasing usage of nano imprint lithography technology is also anticipated to boost the global market in the coming years.
In terms of application, the global market is segmented into automotive, retail and packaging, electronics, and display among others. The report indicates that the retail and packaging segment held a dominant share in the global market in 2015, which was closely followed by automotive and electronics. The growing demand for smart packaging is expected to have a positive impact on the global market in the coming years. The other factors anticipated to support to the rise of the retail and packaging segment are increasing expenditure on consumer goods, technological advancements, and the emergence of the retail sector. Analysts anticipate that the technological advancements will augment the uptake of printed electronics in various industrial verticals such as packaging, automotive, electronic device manufacturing, and logistics during the forecast period.
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In terms of geography, the global printed electronics market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. Out of all these regions, Asia Pacific is expected to lead the global market in terms of revenue. North America will follow suit in the coming years. The emerging economies of India, China, and Japan will be the major contributors to the regional market in the coming years. Technological advancements are expected to improve the applications of printed electronics as in areas such as e-paper displays, electroluminescent displays, and Organic Light Emitting Diode (OLED) among others. The report indicates that China and Japan will lead the regional market, while India and South Korea will follow the lead.
Screen Printing to Lead the Pack as it Remains Most Popular Form of Printing
By technology, the printed electronics market is divided into flexography, gravure printing, screen printing and ink-jet printing among others. As of 2015, the screen printing segment held a significant share in the global market. The other key segments of the global market are flexography and ink-jet printing. The extensive usage of screen printing technology across various industrial verticals such as printed electronics, thick film technology, circuit board printing, displays, and product labels among others. Analysts anticipate that the flexography segment will gain momentum in the coming years as this technology allows excellent printing quality on materials such as acetate film, plastic, foil, brown paper, and other materials that are used for packaging.