Technavio Releases New Report on Global Printed Sensor Market
By Business Wire News
In this report, Technavio’s semiconductor equipmentresearch experts announce their key market highlights for the global printed sensor market. Their findings include:
IoT will play an important role in the integration and adoption of printed sensors
The global printed sensor market was valued at USD 6.6 billion in 2015 and is expected to reach USD 7.8 billion by 2020, growing at a CAGR of 3.4%. The use of non-hazardous materials such as recyclable plastic and papers makes it eco-friendly and compared to conventional silicon technology, it is apt for most end-user segments due to high throughput. Printed sensors offer distinct potential advantages such as the flexibility to fit in various shapes and sizes of electronic devices.
The IoT is connecting the Internet to all essential home devices, playing an important role in the growth of the printed sensors market. All the major electronic device manufacturers like Samsung, Dell, Apple, and Microsoft have dedicated considerable resources to the R&D of the IoT. The proliferation of the IoT will trigger the demand for thin, small, portable devices integrated with printed sensors. The sensors in these devices will provide important updates about the surrounding environment and communicate with each other to optimize user experience, making end-users more aware of their surroundings.
Europe dominated the market share in 2015
Europe dominated the global printed sensors market with a share of nearly 47% in 2015 due to government funding for the development of the technology and the presence of numerous research institutes carrying out work in this field. European printed electronics companies have the expertise to develop and commercialize printed sensor technology and play a key role in the development of innovative products. For instance, ISORG has come up with printed organic photodetector technology to manufacture large area image sensors.
Despite its domination of the market, the region is likely to experience very extremely sluggish growth, with a CAGR of only 0.93% during the forecast period. The fastest growing region is the APAC.
“The global printed sensor market in APAC was valued at USD 1.48 billion in 2015 and is expected to surpass USD 2 billion by 2020, growing at a CAGR of 6.4 %,” said Technavio lead semiconductor equipment research analyst Asif Gani. “The revenue contribution from APAC is very small at present but the region will create many opportunities for printed sensors in the coming years due to large-scale industrialization in emerging nations such as China and India,” adds Asif. In China, increasing government support for the consolidation of printed sensors has benefitted the overall market, which will the market through the forecast period.
Piezoresistive sensors to overtake biosensors as largest segment by 2020
The global printed biosensor market is currently the largest segment of the market, valued at USD 1.74 billion in 2015 and expected to reach USD 1.8 billion by 2020. However, the piezoresistive sensors segment is growing at a CAGR of 3.9% compared to just 0.6% for biosensors and is expected to become the largest segment by 2020.
The global printed piezoresistive sensor market generated revenue of USD 1.67 billion in 2015 and is likely to reach USD 2.03 billion by 2020. Piezoresistive sensors will be integrated into smart, lightweight device structures for monitoring purposes and be used to measure the level of strain a structure can handle or the amount of distortion in a structure under pressure.
Piezoresistive pressure sensors facilitate precise and reduced standard error parameters. This simplifies and eases the error detection process, opening a wide field of new applications such as the use of bridge sensors for properties other than pressure.
“UK-based Peratech’s printable piezoresistive material is pressure-sensitive and changes its electrical resistance when force is applied. These sensors are also being woven into textiles and fabrics, which allow them to perform functions such as measuring sensitivity to temperature and the effect of orientation to stress, along with measuring pressure. These additional applications will propel the market for piezoresistive sensors, ensuring a high growth rate during the forecast period,” said Asif.
Browse Related Reports:
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- Global Vibration Sensor Market 2016-2020
- Global Ultrasonic Sensor Market 2016-2020
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