The Global Market for Printed and Flexible Sensors is Forecast to Reach US$13.7 Billion by 2024
Demand from Healthcare and
Consumer Electronics Industries Drives the Global Printed and Flexible Sensors
Market, According to a New Report by Global Industry Analysts,
Inc.
GIA
launches comprehensive analysis of industry segments, trends, growth drivers,
market share, size, and demand forecasts on the global Printed and Flexible
Sensors market. The global market for Printed
and Flexible Sensors is forecast to reach US$13.7 billion by 2024, driven by strong
commercial prospects in the medical and healthcare sector; demand from other
end-use industries such as consumer electronics, commercial, industrial, and IoT ecosystem; and their ever
increasing prominence for inventory & smart packaging solutions.
Printed flexible sensors, i.e., those manufactured by
depositing functional solutions or inks on flexible substrates such as
plastics, paper and rubber-like polymers, rendering them thinner and lighter
and featuring high mechanical flexibility, are gaining prominence in the global
sensor industry. Low cost of production, simple printing process, and
widespread availability of materials for their manufacture make these sensors
much in demand for sensing applications. By replacing amorphous silicon
technology with organic electronics, sensor manufacturers are expected to
enhance their cost competitiveness and enable new sensor developments bringing
to the fore more lighter, and robust portable sensors. As
large area sensors featuring superior sensing capabilities, high functionality
and performance standards, printed flexible sensors are fast replacing sensors
manufactured through traditional fabrication methods in a range of application
areas including temperature, humidity, gas, and biosensing and even replacing piezoresistive,
piezoelectric, photodetectors in some of the key end-use markets.
Printed sensors are especially becoming key components
of printed electronics in healthcare & medical, commercial, industrial and
consumer electronics industries, and growing focus of manufacturers from these
industries on printed electronics manufacturing will bring robust opportunities
over the next few years. Biosensors account for majority of revenue share
in the total printed and flexible sensors market, thanks to huge demand for
printed glucose detection strips. Meanwhile, printed
photodetectors, gas sensors and temperature sensors are beginning to
gain wider acceptance in a wide range of end-use markets. Printed humidity
sensors, although a very small market, will see robust growth in coming years.
Printed piezoelectric and printed capacitive sensors along with associated
organic sensors such as Hybrid organic CMOS image sensors and organic x-ray
sensors too are expected to witness steady growth prospects in coming years.
Different
materials and process technologies are now being explored to develop a cutting
edge multifunctional sensor platform that will evolve with developments in
minerals technology and inexpensive printing techniques. The market
particularly will gain from the miniaturization trend, which will continue to
expand application possibilities for printed and flexible sensors in the coming
years. Reduction in prices of printed and flexible sensors, thanks to
developments in printing technologies and reduction in material cost, will also
translate higher volume growth over the next few years. Despite growth
prospects, the printed and flexible sensors market faces certain challenges such
as lack of technology standards, need for customized inks,
and usage of less
conductive inks that is not suitable for high power applications.
As
stated by the new market research report on Printed and Flexible Sensors, the
U.S. represents the largest market worldwide. Improvement in process industries, particularly chemical
and petrochemical industry, and booming oil & gas sector against the
backdrop of shale gas revolution is lending significant traction to printed and
flexible sensors in the nation. Asia-Pacific market is
projected to record the fastest compounded annual growth rate of 9.1% over the
analysis period driven by increasing investments in infrastructure, housing, and healthcare, in
which both population and urbanization are experiencing sustained increase.
Key
players in the market include Fujifilm Holding Corp., GSI Technology LLC,
Interlink Electronics Inc., ISORG, KWJ Engineering Inc., Peratech Holdco Ltd.,
PST Sensors, Tekscan, Thin Film Electronics ASA, and T+Ink Inc., among others.
The
research report titled “Printed and Flexible Sensors:
A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides
a comprehensive review of market
trends, issues, drivers, and other strategic industry activities of global
companies. The report provides market
estimates and projections in value (US dollars) terms for major geographic
markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK,
Spain, Russia, and Rest of Europe), Asia-Pacific (China, and Rest of
Asia-Pacific), and Rest of World. The report also analyzes the market by product
types – Biosensors, and Others.
For enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com
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