The global printed and flexible sensors market was valued at US$ 7.6 billion in 2020 and predicted to reach US$ 12.83 billion by 2027, with at a compound annual growth rate (CAGR) of 6.8% during the forecast period 2021 to 2027.
Increasing demand for consumer electronics across the globe estimated to be the key factor that drives the demand for flexible and printed sensors. Technological advancements and developments in the electronic devices seem to upend the consumer preference and demand over the upcoming period.
Flexible electronics is one of such technologies that widely influence the gaming and entertainment industry owing to their multi-dimensional properties that include light weight, portability, and ruggedness. Further, flexible electronics provide the ability to roll, curve, conform, flex, and enable new intuitive user interface. In addition to its advanced features, amalgamation of flexible electronics with wearable technology is likely to open new interface in the industry of flexible electronics. Hence, various technology disruptions in the field of consumer electronics expected to significantly impact the market growth of printed and flexible sensor in the coming years.
Apart from consumer electronics, remarkable advancements in the automotive electronic products are likely to impel the market growth for flexible and printed sensors. Increasing demand for advanced safety features along with driver assistance systems estimated to surge the demand for sensors in an automobile that further propel the growth of flexible and printed electronics in the industry.
However, high cost compared to rigid sensors coupled with high risk of damage while handling are the major factors of concern that hamper the growth of flexible and printed sensors over the upcoming years. Nonetheless, rising penetration of Internet of Things (IoT) and artificial intelligence in electronic products are likely to open alluring opportunities for the market players, thereby augmenting the market growth.
Biosensor occupied the major value share in the year 2019 mainly because of escalating demand for glucose test strips that is largely used in diabetes monitoring. Diabetes has become one of the common diseases across the globe. Its alarming rate of rise has forced government to adopt several measures to control disease. According to the International Diabetes Federation (IDF), around 424.9 Million people across the globe were suffering from diabetes in 2017 and the number expected to surge to 628.6 Million by 2045, a 48% rise in the total patients of diabetes. Hence, home therapeutic devices for continuously monitoring diabetes is a common trend in developed as well as developing countries, thereby triggering the demand for biosensors.
Apart from this, image sensor accounted to contribute significant value to the printed and flexible sensor market. The growth of the segment is majorly because of significant technological advancements in the image sensing technology to cater the rising need across various industries such as consumer electronics and automotive. For example, image sensors are widely used in automotive industry for rear imaging cameras, dashcams, and driver assistance systems, and many more. Whereas, in consumer electronics it is largely used in smartphone and various electronic products that implements AI and IoT for their feature enhancement.
Medical accounted for the largest market share in the printed and flexible sensor application segment in 2019. This is attributed to the significant demand for biosensors across various medical devices, particularly in diabetes monitoring devices. Further, it is also used significantly for the diagnosis of infectious diseases. Apart from all this, rising prevalence of chronic disease has surge the need for the effective monitoring devices to diagnose the problem at its easy stage and cure them.
North America emerged as a front-runner in the global printed and flexible sensors market owing to significant presence of universities and research institutes that are involved in the development and advancement of the product. Further, the region is a technology leader and has well-established medical facilities across the region that again prospers its growth in the flexible and printed sensors market.
On the contrary, the Asia Pacific expected to be the most opportunistic region in the printed and flexible sensors market because of the notable growth of consumer electronics along with rapid industrialization in the region.
Key Companies & Market Share Insights
The global printed and flexible sensors market is highly competitive and opportunistic for the new startup players as well as we-established manufacturers. Rapid change in the consumer preference along with the fast moving technological development across various industries has created remarkable opportunity for the market players to grab maximum foothold in the market. In addition, product diversity and reliability is the major parameter that is required to improve the company’s market position. In the wake of same, the industry participants invest prominently towards the new product development and advancement.
Some of the prominent players in the printed and flexible sensors market include:
Report Scope of the Printed and Flexible Sensors Market
|Market Size||USD 12.83 Billion by 2027|
|Growth Rate||CAGR of 6.8% from 2021 to 2027|
|Largest Market||North America|
|Fastest Growing Market||Asia Pacific|
|Forecast Period||2021 to 2027|
|Segments Covered||Product, Application, Region|
|Companies Mentioned||Fujifilm Holding Corporation, Canatu Oy, Interlink Electronics, Inc., Tekscan, Inc., ISORG, Peratech Holdco Limited, KWJ Engineering, T+Ink, Inc., Renesas Electronics Corporation, and Thin Film Electronics ASA|
Segments Covered in the Report
This research study comprises complete assessment of the market by means of far-reaching qualitative and quantitative perceptions, and predictions regarding the market. This report delivers classification of marketplace into impending and niche sectors. Further, this research study calculates market size and its development drift at global, regional, and country from 2016 to 2027. This report contains market breakdown and its revenue estimation by classifying it on the basis of printing technology, type, application, and region:
By Printing Technology
By Regional Outlook
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