Printed Sensors Market Size is forecast to reach $12.3 billion by 2027, at a CAGR of 7.3% during 2022-2027. Increased use of Printed Sensors for the development of smart and connected devices, rise in the global demand for energy-efficient, thin, and flexible consumer electronics, high demand for new generation flexible Printed Sensors, and significant cost advantages are offered by Printed Sensors. In addition, several companies are working on using Printed Sensors, including force-sensing resistors, for identifying banknotes, credit cards, legal documents, and other items with unique printed signatures. Moreover, Printed Sensors have the potential to significantly change solar power projects. Furthermore, the increase in the worldwide need for energy-effective, thin, and flexible consumer electronics due to demand for the Internet of Things is further anticipated to propel the growth of the Printed Sensors industry. Moreover, the substantial expense advantages provided by the different Printed Sensors technologies such as Flexography printing, ink-jet printing, gravure printing and screen printing are further estimated to cushion the growth of the Printed Sensors market. The increasing fuel-efficient technologies combined with growing demand in engine control management is further paving opportunities for the automotive printed sensor market in the upcoming years. With the developing concern for global warming, the stringent governmental laws to decrease CO2 emissions are building, which are equally driving the automotive printed sensor industry. Amidst the global CO2 emission, the transportation sector contributes 14%. Therefore, with the evolution and expansion of the automotive temperature sensor marketplace, this rising concern can be controlled.
Report Coverage
The report: “Printed Sensors Market Report– Forecast (2022-2027)”, by IndustryARC covers an in-depth analysis of the following segments of the Printed Sensors market Report.
Key Takeaways
- Printed Sensors market in Asia-Pacific region held significant market share of 35.2% in 2021, Factors such as the acceptance of innovative technologies and the increased popularity of advanced consumer electronics are primary reasons for driving the growth of the Printed Sensors market in this region.
- Automotive & Transportation sector in Printed Sensors market is expected to witness a highest CAGR of 11.9% the forecast period, as these Printed Sensor based devices can be integrated with these vehicles.
- Printed Sensors companies are strengthening their position through mergers & acquisitions and continuously investing in research and development (R&D) activities to come up with solutions to cater to the changing requirements of customers.
Global Printed Sensors Market, By Region, 2021 (%)
Printed Sensors Market Segment Analysis - By Type
Printed Sensors Market Segment Analysis - By End User
Automotive & Transportation sector in Printed Sensors market is expected to witness the highest CAGR of 11.9% in the forecast period 2022-2027, as these Printed Sensors based devices and components such as sensors and displays can be integrated with these vehicles. For instance, there has been an increasing demand for flexible lighting solutions for use in automobiles by the prominent automotive manufacturers such as Ford, General Motors, Nissan, Toyota, BMW, and Audi across the world. The incorporation of sensors or in lighting devices and OLED displays is driving the market. In addition to this, the use of conductive elements in seats and windows of automobiles for heating and defogging, are the key applications of Printed Sensors in the automotive end-use industry which is driving the market in the forecast period 2022-2027.
Printed Sensors Market Segment Analysis - By Geography
Printed Sensors market in Asia-Pacific region held significant market share of 35.2% in 2021, Factors such as the acceptance of innovative technologies and the increased popularity of advanced consumer electronics are primary reasons for driving the growth of the Printed Sensors market in this region. China, Japan, South Korea, and Australia are major contributors to the growth of the Printed Sensors market in APAC. APAC being a manufacturing hub for electronic devices and components is a factor driving growth in the region. Large-scale production of electronic components and increased investments in R&D activities related to Printed Sensors in APAC are factors that are driving the growth of the Printed Sensors market share in the region.
Printed Sensors Market Drivers
Shift to electric vehicles to drive Printed Sensors automotive market
The electric car market has witnessed rapid evolution with the ongoing developments in the automotive sector and favorable government policies and support in terms of subsidies and grants, tax rebates. For instance government of several regions are investing heavily in R&D activities. In 2020, the German government has committed to invest more than $3 billion to expand electric car market growth in the region. Major manufacturers such as General Motors, Toyota, and BMW plan to release a potential of 400 models and estimated global sales of 25 million by 2025. In 2021, Ford Motor has committed to increase its investments in electric vehicles to $30 billion by 2025, up from a previous spend of $22 billion by 2023. Similarly, in 2020, Volkswagen, Chinese ventures has committed to invest $17.5 billion in electric vehicles by 2025. The increased adoption of electric vehicles creates opportunities for Printed Sensors as it is used in battery condition monitoring or health monitoring applications.
Increased use of Printed Sensors for development of smart and connected devices
IoT has gained the attention of technology vendors, organizations, business decision-makers, and consumers in the recent years owing to continuous advancements taking place in semiconductors as well as the sensor technology, improvements in cellular connectivity and data transfer rates. IoT can be implemented using various types of smart and connected devices. It finds its applications in smart appliances, smart homes, and connected cars, among others. The healthcare sector in particular is witnessing growth with reports indicating that 55% of US broadband households in 2021 own connected health devices. The increasing adoption of IoT in wearable devices, smart packaging solutions, intelligent clothing, and medical wearables has led to rise in demand for low-cost and lightweight Printed Sensors is used for sensing, as well as for secured data storage and data transmission in these devices. Hence these applications are analysed to drive the Printed Sensors market size in the forecast period 2022-2027.
Printed Sensors Market Challenges
Design Challenges for Printed Sensors
The printed sensors are becoming widely popular, but it is mainly hindered by the process of the designing the printed sensors. The designing of the printed sensors are complex and also requires features such as stability, accuracy and sensitivity. In order to maintain these features printed sensors are widely dependent on monitoring solution. Thus, this monitoring solution requires highly skilled workforce in order to overcome the designing challenges of the printed sensors.
Printed Sensors Market Landscape
Product launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Printed Sensors market. Printed Sensors top 10 companies include:
- Canatu Oy
- GSI Technologies, LLC
- Interlink Electronics, Inc.
- ISORG SA
- KWJ Engineering Inc.
- Mc10, Inc.
- Peratech Holdco Limited
- Polyic GmbH & Co. Kg
- PST Sensors
- Tekscan, Inc.
Recent Developments
- In June 2020, Henkel, Quad Industries expanded their partnership and worked on different Printed Sensors projects such as the development of the innovative COVID-19 smart health patch introduced by Byteflies.
- In March 2020, Researchers from the Materials Science department at Kiel University (CAU) and from Biomedical Engineering at the Technical University of Moldova have developed a process to produce extremely sensitive, energy-efficient sensors using 3D printing
- In March 2022, Scuderia Ferrari F1 Team deployed 3D printed sensor mounts onboard its F1-75 race cars. he Scuderia tested a new front wing that weekend and likely wanted to measure inboard and outboard front wing height under pitch, roll, and heave via laser ride height sensors
Relevant Reports:
Report Code: ESR 41448
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