Printed Sensor Market Overview
<span lang="EN-US" calibri",sans-serif;mso-ascii-theme-font:minor-latin;mso-hansi-theme-font:="" minor-latin;mso-bidi-theme-font:minor-latin"="" style="box-sizing: border-box;">The Global Printed Sensor market size is estimated to reach $11.8 Billion by 2027, growing at a CAGR of 6.3% during the forecast period 2022-2027. The market growth is attributed to the increasing use of optical sensors & wearable devices in the manufacturing & healthcare industry, growing adoption of biosensors in medical sector and so on. Growing trends towards internet of things and Industry 4.0, drives the requirement of extensive networks of wirelessly connected low-cost and unobtrusive sensors. Thin-film and flexible printed sensors can be integrated into smaller devices, thus allowing designers to differentiate their products more easily. Furthermore, rising demand for business process automation, growing shift towards touch-enabled electronic devices & integration of Internet of Things, increasing spending on military & defense systems are some of the major factors set to transform the Printed Sensor industry outlook in the coming time.
Printed Sensor Report Coverage
The “Printed Sensor Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Printed Sensor Market.
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- Biosensor segment in is analyzed to grow with the highest CAGR in the global Printed Sensor market during the forecast period 2022-2027, attributed to the increasing geriatric population, growing demand for home-based healthcare devices and so on.
- Printed Sensor market for Smart Packaging is analyzed to grow at the fastest rate during 2022-2027, attributed to increasing adoption of package tracking solutions in e-commerce industries, significant expansion of self-heating food packaging techniques and so on.
- Europe dominated the global Printed Sensor industry in 2021, attributed to increasing number of leading consumer electronics manufacturers, rising production of commercial & non-commercial vehicles with driver assistance systems & touch infotainment systems and so on.
- Rising adoption of wearable bio sensors in healthcare industry and increasing use of printed electronics in automobiles industry is <span times="" new="" roman";mso-hansi-font-family:="" calibri;mso-hansi-theme-font:minor-latin;mso-bidi-font-family:calibri;="" mso-bidi-theme-font:minor-latin;mso-fareast-language:en-in;mso-bidi-language:="" hi"="" style="box-sizing: border-box;">analyzed to significantly drive the market growth of Printed Sensor market during the forecast period 2022-2027.
Global Printed Sensor Market Value Share, by Region, 2021 (%)
Printed Sensor Market Segment Analysis- By Type
Biosensor segment is analyzed to grow at the fastest rate of 8.1% in the global Printed Sensor market during the forecast period 2022-2027, attributed to the growing demand of glucose monitoring sensors in diabetic patients raising higher use of glucose test strips, increasing geriatric population, growing demand for home-based healthcare devices and so on. In September 2020, Abbott laboratories launched a Libre Sense Glucose Sport Biosensor for athletes. This sensor helped in testing glucose levels on a continuous basis in order to understand the relationship between glucose levels and athletic performance, making it the first personal non-diabetic device based on biosensor technology. They are adaptable and simple to use, alongside aiding research and monitoring. Additionally, growing integration of biosensors in consumer electronics, wearable devices and environmental monitoring applications are the significant factors impacting the growth of Biosensor in Printed Sensor industry outlook overtime<span times="" new="" roman";mso-hansi-font-family:calibri;mso-hansi-theme-font:minor-latin;="" mso-bidi-font-family:calibri;mso-bidi-theme-font:minor-latin;mso-fareast-language:="" en-in;mso-bidi-language:hi"="" style="box-sizing: border-box;">.
Printed Sensor Market Segment Analysis- By Application
Printed Sensor market for Smart Packaging is analyzed to grow with the highest CAGR of 7.5% during 2022-2027, attributed to increasing adoption of package tracking solutions in e-commerce industries, increasing use of self-heating food packaging techniques to have snack and hot beverages and so on. Smart packaging monitors temperature, humidity and gas levels of the sensitive products such as food and beverages. Moreover, growing use of smart packaging to improve product visibility, hygiene, quality, and safety is boosting the demand for printed sensors. According to a report published by Food and Drug Administration (FDA) in 2020, approximately 30-40% of the food supply is estimated to be wasted in the United States each year due to factors such as spoilage and damage. Smart packaging with time-temperature indicators or sensors can help to reduce food waste thereby increasing emphasis on advanced solutions to reduce food waste. Such factors are analyzed to boost the growth of global Printed Sensor industry outlook for smart packaging in the coming time.
Printed Sensor Market Segment Analysis- By Geography
Europe dominated the global Printed Sensor market with a share of 36% in 2021, attributed to increasing number of leading consumer electronics manufacturers, rapid industrialization, rising production of commercial & non-commercial vehicles with driver assistance systems & touch infotainment systems, increasing use of biosensors by ageing population and so on. In August 2021, Masimo launched Masimo SafetyNet Alert, a home-based arterial blood oxygen saturation monitoring and alert system. Masimo SafetyNet Alert was equipped with a signal extraction technology wearable fingertip pulse oximetry sensor which can wirelessly communicate with the accompanying home medical hub and smartphone app using internet of things technology. The sensor was widely adopted in Western Europe, owing to rising geriatric population and growing number of patients suffering from lifestyle diseases such as diabetes. Such developments are set to transform the Printed Sensor industry in European region.
Printed Sensor Market Drivers
Rising Adoption of Wearable Bio sensors in Healthcare Industry is Accelerating the Growth of Printed Sensor Market:
Growing use of wearable biosensors in the healthcare industry is driving the growth of the printed sensor industry. Wearable Biosensors & optical sensors such as smart shirts & smartwatches, continuously measure blood glucose levels, blood pressure, heartbeat rates and other biometric data. The real-time data is sent to healthcare providers for monitoring health and recovery rates of the patients. They are commonly used for athletic training and health monitoring of workers in hazardous environments. Additionally, it is useful in cardiovascular disease for monitoring hypertension, chronic surveillance and abnormal cardiac arrest. In August 2020, Fitbit launched Fitbit Sense, a smartwatch with a range of health features. It has an AMOLED display and an electrocardiographic sensor that detects stress reactions by measuring electrodermal activity responses. It computes the Stress Management Score by analysing heart rate, sleep and activity level of a user. It has a sensor that detects fever, illness and the start of a new menstrual cycle by measuring the skin temperature of the user. According to the Deloitte Connectivity and Mobile Trends Survey conducted in 2021, before the arrival of the pandemic, approximately 39% of people owned a wearable devices or fitness tracker. According to the survey, the use of the wearable fitness device has increased to 58%. Following the pandemic, there was a 14 percent increase in the sale of smart watches in the United States. Such factors are set to accelerate the growth of the Printed Sensor market size in the coming time.
Increasing Use of Printed electronics in Automobile Industry is Positively Impacting the Growth of Printed Sensor Market:
Rising utilization of printed electronics in the automotive sector is positively influencing the growth of the printed sensor market. Printed electronics are used in automobiles to increase levels of autonomy. Autonomous vehicles use a variety of sensor technologies and associated features such as transparent heaters, integrated antennas and even low-resolution flexible displays. In control panels, seat occupancy sensors, printed pressure sensors, and purely capacitive touch sensors are used to provide a wider range of inputs without the use of mechanical switches. In September 2021, Avery Dennison Corporation launched AD Maxdura Tire Tag for the tire industry, which enabled tracking and tracing throughout the logistics chain, through easier tyre identification within warehouses and dealerships. This tyre tag was capable of specifying materials used to manufacture tyre, thus providing valuable information to recycling facilities. According to a report published by InnovationLab in 2021, printed pressure sensors can help in improving battery capacity and lifetime by upto 40%. The sensor measures the pressure changes in the battery cells of an electric vehicle. Printed temperature sensors can detect problems and prevent overheating owing to their ability to automatically respond to changing environmental conditions. These factors are encouraging the use of the printed electronics within automotive applications, thereby expanding the Printed Sensor market size in the coming time.
Printed Sensor Market Challenges
High Cost of Printed Sensor along with the Inadequate Knowledge of Appropriate Materials for Printed Sensor is Restraining their Market Growth:
High cost of printed sensors combined with a lack of knowledge about appropriate materials for printed sensors is limiting their market growth. The manufacturers have to invest heavily in R&D of new materials & equipment for printed sensor and for their integration with internet of things to enable data transfer and machine to machine communication. The development of new technologies necessitates the use of precision machinery and trained personnel, which adds to the overall costs of the printed sensors. Printed sensors employ a variety of printing technologies and materials that can be used for a variety of applications in a variety of industries. A user must have the knowledgeable about substrate and material selection, printing pattern selection and about the hardware of the printed sensors for their implementation or any skilled professional. The lack of knowledge and the need of skilled professional for the installation of printed sensors adds up to their costs. According to Amazon, an e-commerce site the minimum cost of the printed sensors is $190. The cost of printed sensors increases as per their application and materials used in their development. Thus, high cost and the complexity in the development of the printed sensors coupled with the lack of awareness among the users is limiting the growth of Printed Sensor industry.
Printed Sensor Industry Outlook
Product launches, acquisitions and R&D activities are key strategies adopted by players in the Printed Sensor Market. The top 10 companies in the Printed Sensor market are:
- Brewer Science, Inc.
- Canatu Oy
- Interlink Electronics, Inc.
- ISORG
- KWJ Engineering inc.
- Peratech Holdco Limited.
- Polyic GmbH & Co. Kg
- PST Sensors
- QUAD INDUSTRIES
- Tekscan, Inc.
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- In January 2022, Brewer Science launched InFlect 4-Pixel Temperature Sensor Evaluation Kit. It includes the printed seasons measure the temperature of human, plants and can be used in varied fields such as healthcare and agriculture. This development will enhance the adoption of printed sensors in various fields.
- In June 2021, Tekscan launched I-Scan 9, a pressure mapping software interface. It was designed to evaluate and measure interface pressure between two surfaces through the usage of thin & flexible sensors. It will increase the applicability of printed sensors in various thermodynamic applications.
- <span times="" new="" roman";mso-hansi-font-family:calibri;mso-hansi-theme-font:minor-latin;="" mso-bidi-font-family:calibri;mso-bidi-theme-font:minor-latin;mso-bidi-font-style:="" italic"="" style="box-sizing: border-box;">In March 2021, Quad Industries and Henkel Adhesive Technologies collaborated to promote the development of printed electronics solutions. This includes the creation of technological value and prototyping with printed electronics solutions for a wide range of industries. Henkel also worked with several Belgian companies, including Quad Industries and Byteflies, to develop a health patch for continuous, remote, and wireless monitoring of health conditions. It will increase the adoption of printed sensors in healthcare & life science.
