Printed Electronics Market to Skyrocket in Future Years
According to a study done by Markets and Markets, the Printed Electronics industry is expected to skyrocket over the next five years. The market for Printed Electronics had brought in a revenue of nearly $9.8 billion (USD) in 2019 and is expected to rise to nearly $19.8 billion (USD) by the end of 2024. It’s supposed to grow at a Compound Annual Growth Rate (CAGR) of nearly 15.1% over the next 5 years, but why the sudden market increase?
There are many major driving factors for the sudden growth of the printed electronics industry. Examples include, but are not limited to:
- Smart and connected devices are developing very suddenly
- There is a very high and increasing demand for the new generation of flexible printed electronics
- There is a sudden rise in the global demand for energy-efficient, flexible, and thin consumer electronics
- They have a large cost advantage over traditional electronics
(Image Credit to Markets and Markets)
What are Printed Electronics?
Printed Electronics refers to a set of printing methods that are used to create electrical devices on various different substrates often printed through the process of screen printing, offset lithography, flexography, or inkjet printing. Examples of Printed Electronics are listed below.
Because Printed Electronics have so many different uses, it’s no surprise that their different application opportunities are increasing at such an alarming rate. Printed Electronics are quickly gaining traction in several different industries as well, such as:
Are you curious about the different Printed Electronics applications that our team can offer you? Reach out to us for any questions you may have!
Meet the Author: Jaclyn King
Jaclyn is a Digital Marketing Specialist on the BTI Team. Her main job responsibilities involve inbound marketing, content creation, and social media management. To get to know more about Jaclyn, check her out on LinkedIn!