Demand for Printed and Flexible Sensors to Increase with Consistent Innovation in Printed Electronics
Progress 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 an integral component in the manufacturing of thin and light-weight electronic devices. Large funding by private and public investors is creating significant opportunities for commercialization and product innovation. Several universities across the globe are working on the development of advanced technologies in the field of printed and flexible sensors. For instance, researchers from 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.
Transparency Market Research (TMR) 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. According to a report by TMR, the global printed and flexible sensors market was valued at US$6.28 bn in 2013 and is poised to reach US$7.51 bn by 2020, rising at a CAGR of 2.5% from 2012 to 2020.
Q. Which factors are expected to create profitable growth opportunities for printed and flexible sensors manufacturers?
The global printed and flexible sensors market is highly fragmented in nature. High competition in the market serves as a motivation for vendors to innovate. The widespread adoption of Internet of Things (IoT) in almost every industry is creating an array of opportunities for the use of printed and flexible sensors. As per the findings of the report, the explosive growth of the IoT industry, which is enabled by technologies such as sensors, cloud networks, and wireless apps, is likely to augur well for the growth of the market. Moreover, the rising 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 in the market are GSI Technologies, ISORG, KWJ Engineering, Peratech UK, and Thin Film Electronics ASA.
Q. What factors are boosting the growth of the printed and flexible sensors market across different regions?
Increasing government support for 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 by revenue, Asia Pacific is likely to offer a multitude of opportunities for manufacturers. Growing outsourcing of production and rapid industrialization in India and China will aid the adoption of these sensors. Europe presents a large scope of growth owing to the increasing development and adoption of novel and innovative technologies in the region.
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