Stretchable Electronics Market To Reach USD 1.4 Billion By 2027 | CAGR 85.5% - Forencis Research

Stretchable Electronics Market Size, Share, Trends, Growth, Analysis, Research

Global Stretchable Electronics Market: Key Highlights

  • According to the new market research report “Stretchable Electronics Market by Component (Conductor, Battery, Sensor Others), by Application (Electronic Display, Electronic Skin, Touch Panel, Health Monitoring, Others), by End-User (Consumer Electronics, Healthcare, Automotive, Aerospace and Defense, Others), by Region (North America, South America, Asia Pacific, Europe, Middle East and Africa) – Global Forecast (2019 to 2027)”, the global stretchable electronics market is estimated to reach USD 1.4 Billion by 2027 at a CAGR of around 85.5% during the review period.
  • Increasing adoption of wearable devices, growing investments in stretchable and flexible electronics are few key factors are driving the demand for stretchable electronics.
  • However, difficulties in finding suitable material remain a major challenging factor for the growth of the stretchable electronics market.

Stretchable Electronics Market

Global Stretchable Electronics Market: Key Market Dynamics

  • Growing adoption of wearable devices is expected to drive the market of stretchable electronics, as the wearable devices needs flexible, ultra-thin, and stretchable components in them.
  • Complicated assembly process is expected to restrain the market as the assembly process becomes complicated because the joints has to be made with stretchable conductors.
  • Incorporating transparent properties in stretchable electronics is expected to rise the market in near future as it will enhance the scope of the technology, it can be applied where optical transparency with stretchability is required.
  • Obstacle in finding suitable material is expected to challenge the growth of the market as component used in stretchable electronics shall have appropriate characteristics.

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Global Stretchable Electronics Market: Regional Overview

  • Asia-Pacific

The stretchable electronics market in the Asia-pacific region is estimated to observe rapid growth as the semiconductor industry is expanding in the region. According to Semiconductor Industry Association (SIA) report, Asia-pacific is the largest regional semiconductor market. In 2018, the semiconductor market of the region was USD 282 Billion as per SIA report. China is the dominating market country-wise in the region; by 2018, it covers 56% of regional semiconductor market and 34% of global market.

  • Europe

Due to accelerated expansion of electronics industry in Europe, the sales for stretchable electronics is likely to grow. In 2016, Europe had a market share of 14.6% in electronics and electrical engineering domain. Owing to the wide application of semiconductors in various applications, the sale of semiconductors in Germany, France, and the UK is growing constantly. In automotive industry of this region, approximately 85% of innovations in cars takes place in the domain of microelectronics and software.

Global Stretchable Electronics Market: Key Players Overview

  • Xerox Corporation:

Xerox Corporation is a US-based company engaged in the print technology and work solutions business segment. Xerox through its wholly owned independent subsidiary, PARC, works in research field. PARC is a scientific research and open innovation company that works on certain series of focus areas.  The series of focus areas comprises of Artificial Intelligence (AI) and Human-Machine Collaboration, Digital Workplace, Microsystems and Smart Devices, and Novel Printing, among others. In 2017, PARC in association with FlexTech developed a hybrid, bendable, ultra-thin audio speaker, which can be used in packaging, wearables prosthetics, and smart cities and homes.

  • Apple Inc.:

Apple Inc. is a US-based multinational technological company that deals in designing, and selling of consumer electronics, computer software, and other online services. The products and services provided by company covers consumer electronics products, a portfolio of consumer and professional software applications, and numerous other accessory, service and support offerings. In 2018, company received its patent from the US Patent and Trademark Office, which covers technology of stretchable display for iDevices and smart garments.

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Published : 2020-02-03