The global organic electronics market size was valued at USD 102.68 billion in 2022 and it is expected to reach around USD 1,004.72 billion by 2032 growing at a CAGR of 25.58% over the forecast period from 2023 to 2032.
Advancements in display technologies create significant demand for organic electronic devices such as Organic Light Emitting Diodes (OLEDs) that is among the latest and most advanced display technologies. OLED displays are prominently used in televisions, laptops, mobile phones, and other display electronic devices. Hence, the aforementioned factor is likely to impel market growth over the forthcoming years.
Further, organic electronics are preferred over inorganic electronics because of simple processing methods and low material utilization during the manufacturing process. In accordance with the same, high-end technological products are manufactured using organic materials such as dielectric, semiconductor, and conductive materials.
Additionally, the shifting trend from conventional posters and signage towards digital signage has created immense opportunities for organic electronics manufacturers to strengthen their foothold in the target market. Hence, increasing penetration towards digital signage as it proved as a more effective marketing tool as well as visualized to enhance the product sale through its interactive features. As a part of a survey conducted in the United States, the percentage jump in unplanned purchases particularly in restaurants is around 80%. Similarly, rising demand for digital signage at various platforms is expected to boost the growth of organic electronics over the coming years.
Semiconductor led the global organic electronics market accounting for more than half of the total market value in 2022 and is expected to grow at the fastest rate over the forthcoming years. The prominent growth of the segment is mainly due to a unique feature offered by the semiconductor material is no insulating oxide formed on the surface when they are exposed to air. This helps the material to form a clean interface with the other materials.
An organic semiconductor is a non-metallic material that provides semiconducting properties. These materials have numerous advantages compared to inorganic semiconductors that include lightweight, mechanical flexibility, and low cost which in turn offers an opportunity for developing devices by using low-cost fabrication methods. An increase in awareness related to sustainable development along with the fact that organic semiconductors are biodegradable has significantly increased its preference over their counterparts; thus, increasing the market demand for organic electronics.
However, dielectric materials have gained significant importance over the past few years owing to their increasing demand and opportunity in applications such as automotive, consumer electronics, medical, digital signage, and security.
Display applications captured a significant market share in the global organic electronics market in 2022 because of the rising demand for advanced display technologies in various applications that include smartphones, laptops, television, and other electronic products with display screens. The advancement in display technology such as organic LED (OLED) displays is expected to offer huge demand for organic electronics over the upcoming years. OLED display offers numerous advantages to the users are enhanced image quality related to better contrast, fuller viewing angle, higher brightness, much faster refresh rates, wider color range, and lower power consumption. Hence, significant advantages offered by the OLEDs have transformed the display screens to be foldable, flexible, ultra-thin, and transparent displays.
Besides this, lighting is the other most important application of organic electronics because of the increasing demand for more efficient and cost-effective lighting technology. LED lights have gained significant importance over the past decade owing to less consumption of energy along with the integration of advanced technologies such as IoT and artificial intelligence to upgrade their performance and user experience.
North America showed prominent growth in the global organic electronics market accounting for a significant market share in 2022. The region is technologically advanced coupled with a prior adopter of advanced technologies such as AI, machine learning, and IoT that contributed positively towards its growth. Further, the region is a prominent adopter of digital signage and other advanced display technologies in its consumer electronic products that again propel the market growth.
However, the Asia Pacific being the largest market for consumer electronics exhibits a rapid growth rate over the forthcoming years. A large consumer base along with rapid technology integration in the sector has propelled the growth of the market. China is the front-runner in the Asia Pacific region attributed to the availability of low-cost raw materials and labor in the country.
Key Companies & Market Share Insights
The global organic electronics market seeks intense competition among the market players owing to rapidly changing consumer preferences. Further, the industry participants are prominently adopting inorganic as well as organic growth strategies that include partnership, collaboration, merger & acquisition, and many others to maintain their competitive edge in the global market. Apart from this, they invest prominently in R&D activity for new product development & advancements.
Some of the prominent players in the organic electronics market include:
Scope of the Organic Electronics Market Report
|Market Size in 2023||USD 129.31 Billion|
|Market Size by 2032||USD 1,004.72 Billion|
|Growth Rate From 2023 to 2032||CAGR of 21.4%|
|Forecast Period||2023 to 2032|
|Segments Covered||By Material, By Vertical, and By Application|
|Regional Scope||North America, APAC, Europe, Latin America, MEAN, Rest of the World|
|Companies Mentioned||BASF SE, AGC INC., POLYIC GMBH & CO. KG, Evonik Industries AG, COVESTRO AG, Heliatek GmbH, H.C. Starck Inc., Novaled GmbH, Merck KGaA, and Sumitomo Corporation|
Segments Covered in the Report
This research study comprises a complete assessment of the market by means of far-reaching qualitative and quantitative perceptions, and predictions regarding the market. This report delivers a classification of the marketplace into impending and niche sectors. Further, this research study calculates the market size and its development drift at global, regional, and country from 2020 to 2032. This report contains a market breakdown and its revenue estimation by classifying it on the basis of material, application, and region:
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