The global printed and flexible sensors market is expected to reach US$ 8.8 billion in 2022, and the demand for these sensors is projected to stay strong in the coming years. This is primarily because they are being used in a wide range of industries. By 2033, the market is predicted to grow to US$ 18.8 billion, with a steady annual growth rate of 7.1% from 2023 to 2033. In the year 2023, the market is expected to reach US$ 9.5 billion in value.
Increasing application of printed and flexible sensors in healthcare, automotive, consumer electronics, aerospace, and environmental monitoring are likely to drive market growth during the forecast period. the increasing demand for smart and wearable devices in many industries drives the demand for printed and flexible sensors.
Increasing use of the Internet of Things (IoT), artificial intelligence, and integration of sensors in many objects, fuels the demand for printed and flexible sensors. Increasing demand for wearable devices, such as fitness trackers and smartwatches, is expected to boost the printed and flexible sensors market growth during the forecast period.
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Printed and flexible sensors are witnessing rapid growth in the healthcare industry. The increasing healthcare expenditure, and focus on healthcare modernization drive the adoption of printed and flexible sensors in healthcare applications.
The expansion of the automotive industry and government initiatives to promote electric mobility contribute to the growth of printed and flexible sensors. Increasing the use of electric and connected vehicles and increased demand for these sensors in car interiors, battery management system offers a lucrative opportunity for market expansion.
North America has emerged as a major consumer of printed and flexible sensors owing to the increasing application in the industrial sector. Europe is expected to show high growth in the industry due to increased technological innovation in many industries and rising urbanization.
The rapid technological advances in the development of new and high-quality materials for manufacturing these sensors have opportunities for market expansion in the forecast period.
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Key Takeaways from the Printed and Flexible Sensors Market Report
- From 2018 to 2022, the market demand expanded at a CAGR of 9.2%
- Based on technology, the inkjet printing segment accounts for a CAGR of 6.9%
- By type, the biosensors segment is expected to expand at a CAGR of 6.7% during the forecast period
- North America to emerge as a promising market, capturing a CAGR of 7.0%
- Asia Pacific is an opportunistic market, expected to capture a CAGR of 6.7% during the forecast period.
“Growing technological innovation increased popularity of smart wearable devices and increased disposable income are expected to drive the market in the forecast period. The increasing demand for biosensors globally is projected to play a vital role in strengthening the market”.
Competitive landscape:
Prominent players in the printed and flexible sensors market are Alps Alpine Co., Ltd.; Agromatic AG; Aeco s.r.l.; American Semiconductor, Inc.; Azoteq Pty., Ltd. among others
- PolyIC, a subsidiary of Leonhard Kurz, focuses on the development and production of printed electronics, including printed sensors. The company offers printed touch sensors, capacitive switches, and flexible electronic components for various industries, such as automotive, home appliances, and consumer electronics.
- Peratech is known for its Quantum Tunnelling Composite (QTC) technology, which enables the production of force-sensing solutions and pressure-sensitive touch screens. Peratech’s flexible sensors provide precise and reliable touch and pressure-sensing capabilities, finding applications in wearables, consumer electronics, automotive, and robotics.
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Printed and Flexible Sensors Market Segmentation:
By Technology:
- Inkjet Printing
- Flexographic Printing
- Screen Printing
- Gravure Printing
By Type:
- Biosensors
- Capacitive
- Piezoelectric
- Piezoresistive
- Others
By Region:
- North American
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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