Advancement in printed electronics is playing a vital role in the growth of the global printed and flexible sensors market. Printed and flexible sensors are becoming a key component in the manufacturing of thin and light-weight electronic devices. Huge funding by private and public investors is creating significant opportunities for commercialization and product innovation. Various universities across the globe are working on the development of advanced technologies in the field of printed and flexible sensors. For example, researchers in the Iowa State University have developed highly conductive printed graphene circuits that are capable of being used in manufacturing printed sensors with biological and chemical applications. Such advancements are likely to open new avenues for printed and flexible sensors manufacturers.
RnRs analysts state that the benefits of these sensors over traditional sensors such as lower cost, higher performance, and simpler design are anticipated to spur the growth of this market. As per RnRs report, the global printed and flexible sensors market was valued at US$6.27 bn in 2013 and is poised to reach US$7.50 bn by 2020, rising at a CAGR of 2.4% from 2012 to 2020.
Q. Which critical factors are likely to create profitable growth opportunities for printed and flexible sensors manufacturers?
The global printed and flexible sensors market is extremely fragmented in nature. Tough competition in the market acts as a motivation for vendors to innovate. The extensive adoption of Internet of Things (IoT) in almost every industry is creating multiple opportunities for the use of printed and flexible sensors. As per the findings in the study, the profound growth of the IoT industry, which is made possible by technologies such as sensors, cloud networks, and wireless apps, is likely to support the growth of this market. Furthermore, the growing use of printed and flexible piezoelectric sensors in individual application segments such as healthcare, consumer electronics, automotive, and security and defense is estimated to work in favor of the growth of the overall market. Some of the key players of this market are GSI Technologies, ISORG, KWJ Engineering, Peratech UK, and Thin Film Electronics ASA.
Q. Which factors are fueling the growth of the printed and flexible sensors market across different regions?
Growing government’s support and interest in the development of printed sensors in several countries such as China, Germany, the U.S., and the U.K. is attracting new players. While North America is the leading regional market for printed and flexible sensors in terms of revenue, Asia Pacific is likely to offer a multitude of opportunities for manufacturers. Growing trend of outsourcing production and rapid industrialization in India and China will aid the adoption of these sensors. Europe presents a large possibility of growth because of the increasing development and adoption of novel and innovative technologies in the region.