The printed sensors market is forecasted to experience a growth of 5.4% CAGR over the estimated period, as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 95,374.8 million in 2023.
Printed sensors technology is reasonably priced and can be mass-produced, thus facilitating high economies of scale for manufacturing unit owners. Further, the surging demand for printed sensors from the smart packaging industry is another market propeller. Smart packaging not only smoothens the tracking process but also lowers the overall packaging costs.
Printed electronics are lightweight, thin, flexible, and robust, thus making it easy to integrate them smoothly into packaging, either as an affixed e-label or during production. This is projected to drive its acceptance in the smart packaging industry.
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The early setup of producing printed sensors requires prominent investment owing to high equipment technology. This might deter small manufacturers as the risk ratio becomes quite high in the face of huge investment costs.
Regionally, Asia Pacific is projected to spearhead the growth of the printed sensors industry. The primary reason behind this growth is the huge investments the foreign companies are making in the untapped market. Moreover, the accelerated demand for consumer electronics manufacturing practices is also fueling the adoption of this technology.
Top Highlights from the FMI’s Analysis of the Printed Sensors Market:
- North America’s printed sensors industry attained a 30.4% value share in the historical period.
- Europe’s printed sensors industry captured a total of 23.1% market share in 2022.
- The United States printed sensors industry held together a 17.4% value share in the prior period.
- In 2022, Germany’s printed sensors industry accounted for a 9.2% market share.
- Japan secured a market share of 4.3% in the entire world in 2022.
- Australia’s printed sensors industry is anticipated to exceed the previous market share record of 4.8% in 2023.
- India’s printed sensors industry is projected to register a CAGR of 10.4% over the forecast period. India’s market appears to take in its stride the challenging task of deploying this advanced technology in different end applications.
- China’s printed sensors industry is forecasted to expand at a CAGR of 8.7% during the estimated time frame.
- The United Kingdom is anticipated to observe a moderate growth of 4.5% CAGR in the forthcoming years. This could be attributed to the high maturity levels for printed sensors attained in the given country.
- Based on printing technology, the inkjet printing segment acquired a maximum share of 35.4% in the historical period.
- Under the “type” category, printed pressure sensors gained an 18.2% market share in 2022.
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What is the Plan of Action of Key Competitors?
Key players in the printed sensors industry are embracing organic as well as inorganic strategies to capture high-value clients. Some of the organic strategies include product innovation, product permissions, and others like events and patents.
Inorganic growth strategies that are trending in the market include partnerships, acquisitions, and collaborations. Aforesaid activities play a huge role in driving market expansion and drawing a large circle of customers. Additionally, the rising investment in this technology is further anticipated to propel advancements in the market. For example, In October 2019, Canatu Oy accumulated US$ 16.34 million via investment from 3M Ventures, a new investor, and DENSO Corporation and Faurecia, the existing investors.
Key Segments in the Printed Sensors Market
By Type:
- Printed Biosensor
- Printed Touch Sensor
- Printed Gas Sensor
- Printed Humidity Sensor
- Printed Image Sensor
- Printed Pressure Sensor
- Printed Temperature Sensor
- Printed Proximity Sensor
By Printing Technology:
- Gravure Printing
- Inkjet Printing
- Screen Printing
- Flexography
- Others
By Application:
- Industrial
- Automotive
- Consumer Electronics
- Smartphones
- Wearable Devices
- Others
- Environmental Testing
- Industrial Equipment
- Medical Devices
- Building Automation
- Smart Packaging
- Others
By Region:
- North America
- Latin America
- The Middle East and Africa
- Europe
- Asia Pacific
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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