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IoT Revolution Revitalizes Demand for High-end Flexible Sensors
September 27, 2016 | Transparency Market ResearchEstimated reading time: 2 minutes
The global printed and flexible sensors market is highly fragmented in nature where organized players have a considerable command over the market. The global market for printed and flexible sensors market consists many international and domestic manufacturers. Currently, the market is dominated by a few players including GSI Technologies, Thin Film Electronics ASA, KWJ Engineering Inc., Interlinks Electronics Inc., and ISORG SA. In a new report, Transparency Market Research states that printed and flexible sensors is emerging as a new technology and the market is growing considerably along with the growing printed electronics market.
At present, manufacturers are facing the pricing pressure owing to less product variation between the offerings of competitors. However, key companies are focusing on maintain their dominance by developing new products and adopting innovations. The global market for printed and flexible sensors is predicted to reach $7.51 billion by 2020. By type, the global printed and flexible sensors market will be led by the biosensors segment, followed by the Pizoelectric sensors segment. The biosensors segment is expected to reach $4,688.5 million by 2020. However, the piezoresistive printed sensors segment is expected to grow in the years to come owing to the rising demand for healthcare devices, consumer electronics, and touch screen devices.
North America to Continue its Dominance owing to Industrialization
The North America printed and flexible sensors market is predicted to reach $2,352 million by 2020 owing to rising industrialization and the rising outsourcing from the developed nations. In terms of new product development and innovations, the global market is led by Europe. However, Asia Pacific is expected to be the most promising market for printed and flexible sensors in the next few years. By 2017, Asia Pacific is expected to surpass Europe and North America. Established players in Asia Pacific are focusing more on research and development activities to maintain their dominance.
Rising Application Segment to Propel Global Market
Printed and flexible sensors have become an important component of electronic devices. As printed electronics is an upcoming technology it is playing a lead role in the design and development of printed and flexible sensors technology. Printed and flexible sensors are in their early stage of commercialization and currently find application in safety and security, textiles, consumer durable goods, healthcare, and packaging industries. Considering the fact that printed sensors are smaller in size and cheaper than other traditional sensors, they are increasingly being used across many nations.
Challenges in Conductive Ink Printing to Affect Global Demand
Conductive ink is a raw material, which is used in the manufacture of printed circuits and electronics. Manufacturers of printed and flexible sensors are currently facing certain challenges from consistently changing physical properties of conductive ink. Additionally, repetitive testing procedures are expected to increase the cost of conductive inks. These factors are expected to hamper the growth of the global printed and flexible sensors market. However, owing to periodic advancements in all raw materials that are used in the production of printed and flexible sensors, the market is expected to grow significantly.
Growing IoT Market to Create Growth Opportunities
The introduction of the Internet of Things has helped many industries. The consistent growth in IoT is predicted to create growth opportunities for printed and flexible sensors. As printed and flexible sensors are smaller in size compared to traditional sensors, they can be integrated with various portable applications.
This information is based on the findings of a report published by Transparency Market Research titled “Printed and Flexible Sensors Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2012 - 2020.”
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