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ALBANY, New York, April 17, 2019 (GLOBE NEWSWIRE) -- The global printed electronics market depicts a competitive and fragmented landscape. The leading players in the market are expanding footprints in emerging regional markets to gain a competitive edge, reports Transparency Market Research (TMR). Some key players in the global printed electronics market are E Ink Holdings Inc., LEONHARD KURZ Stiftung &Co. KG, BASF SE, Agfa-Gevaert N.V., and Samsung Electronics Co., Ltd.
Main players in the global printed electronics market are focusing on research and development with an aim to bring in product innovation. Product innovations are becoming a key to gaining competitive edge in the market. Consequently, heavy investments in research and development are expected to pour in massive growth avenues in the printed electronics market in the near future. Some players are also focused on mergers and acquisitions as a strategy to diversify product portfolios. According to TMR analysts, high-speed fabrication and minimum material consumption will open up major opportunities in the near future.
According to TMR experts, the global printed electronics market is likely to reach US$65.0 bn by 2024 end. The market was evaluated at US$25.4 bn at the end of 2015 and is likely to grow at a notable 11.0% CAGR during 2016-2024. The packaging and retail segment in the market is expected to attract the maximum traction, due to increased efficiency and reduced costs. Similarly, region wise Asia Pacific is expected to register the fastest CAGR growth in the global printed electronics market. Emergence of India, China, and Japan are expected to drive robust growth in the region in the near future.
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Intelligent Automotive Gear up Growth for the Printed Electronics Market
Intelligent vehicles are taking over the imagination of vehicle drivers globally. It is expected that intelligent vehicle investment in the automotive industry will reach $82 bn by 2020. These include investments in digitalization and other technological advancements. Digitalization will open up more opportunities for players in the printed electronics market. Digitalization and intuitive use of technology requires various printed signs on dashboards, doors, and on side-mirrors to always remember the right activation and usage mode for the printed electronics market. Additionally, more and more drivers are showing a preference for self-driving cars. Thus, the printed electronics market players are also witnessing a robust demand due to the use of next-gen applications such as virtual reality, wearable technology, and smartphones.
On the basis of application, the printed electronics market into retail, automotive, electronics packaging, and display among others. Among these, the retail and packaging segment are expected to witness the largest growth. Growing demand for smart packaging is expected to drive growth.
Low Margins and Technological Advances Present Major Challenges
Smartphones are growing in usage globally. In the past few years, this promised major growth for key players in the printed electronics market. However, the landscape in the market is changing quickly. Growing competition among smartphone manufactures have led to large reductions in profit margins in the industry. This has led to a decrease in research and innovation in the printed electronics market. Additionally, the printed electronics market is also faced with growing need for innovation and technological advancements to gain a competitive edge. Rising complexities in the market due to conductivity and electricity. However, growing advancements in materials used offer promising growth in the printed electronics market. New photovoltaic cells and other storage devices are expected to streamline growth.
This review is based on Transparency Market Research’s report, titled “Printed Electronics Market (Materials - Substances (Organic Materials (Polymers and Papers) and Inorganic Materials (Silicon and Glass), Inks (Dielectric Inks and Conductive Inks); Technology - Flexography, Ink-jet Printing, Gravure Printing, and Screen Printing; Application - Automotive, Retail and Packaging, Electronics, and Display) - Global Industry Analysis Size Share Growth Trends and Forecast 2016 - 2024”.
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The global printed electronics market has been segmented as:
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