Global Printed Electronics Market to Reach USD23 Billion
30 November 2021: Countries such as China, Japan, South Korea, India etc are industrial hubs that house numerous electronic equipment, devices, components, automotive, and other industries, which require printed electronics for reducing the overall energy consumption.
Thus the global printed electronics market is expected to touch USD 23 billion by 2026 at a CAGR of 18.3% from 2021 to 2026, according to a recent report by ResearchAndMarkets.com. In 2026, APAC is projected to hold the largest share of the overall printed electronics market.
The Report titled “Global Printed Electronics Market – Forecast to 2026” states that global demand for printed electronics is growing due to the increased applications of printed electronics in the IoT environment. Various sensors, smart labels, loggers, and RFID tags can be manufactured at a low cost by using printed electronics.
The growth of the printed electronics market can be attributed to the increased global demand for miniaturized devices, technological advancements taking place in electronics devices, and the availability of portable electronic devices for packaging, automotive and healthcare applications.
The report emphasises that the lighting segment of the printed electronics market is expected to grow at the highest CAGR during the forecast period. Lighting based on printed electronics is rapidly replacing tungsten, halogen, and fluorescent lamps, which are costly. Moreover, governments of different countries have made increased investments in the development of printed OLED-based lighting.
Similarly, Printed sensors and batteries are used to monitor environments and remote assets of military establishments. They can be used in devices that are employed for the surveillance of inaccessible environments. Printed display panels are also deployed in rugged systems, which are used in defence applications.