May. 7, 2021
Stretchable Electronics Market Expected to Raise Moderately over 2027
Global Stretchable Electronics Market is expected to reach USD 2,981.2 Million by 2026 at a CAGR of 25.29% during the forecast period. Market Research Future (MRFR), in its report, envelops segmentation and drivers to provide a better glimpse of the market in the coming years. The increasing adoption of portable electronics and wearable devices by individuals has created a huge demand for the miniaturization of electronic components. Device miniaturization is done considering all the input/output ports and various other components in the assembly that are vital to the end-product. Miniaturization has increased the demand for integrated power for application-specific processors and subsystems.
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The key players of the global stretchable electronics market are PARC (U.S), Cambrios (U.S), PowerFilm (U.S), Koninklijke Philips N.V (Netherlands), Apple Inc, (U.S.), Adidas AG (Germany), 3M Company (U.S), Palo Alto Research Center Incorporated (US), DuPont (U.S), BodyMedia (U.S), Physical Optics Corporation (U.S) IDUN Technologies Ltd (Switzerland), and MC10 (U.S) among others.
In March 2020, Physical Optics Corporation and Ansys Streamline Avionics Development for U.S. Military Aircraft has done collaboration to develop avionics for U.S. military aircraft. Ansys SCADE Solutions for ARINC 661 Applications. This will enable POC to reduce development time and accelerate certification and integrating new functionality at a much lower cost and enabling a faster path to market.
In September 2019, Cambrios formed a strategic partnership with Winsky, a part of the CN Innovations conglomerate that is focused on touch display development and applications and owns core technologies that make it the industry leader. This partnership is to develop optimal solutions for electronic materials applications in new technology markets.
In September 2019, Cambrios partnered with Royole, a leader in flexible phones, creator of the world’s first mass-produced fully flexible display and foldable phone. Companies are aligned to fulfill the desire to perfect the technology and product experience for customers.
In October 2017, MC10 Inc. and University of Rochester collaborated and for the purpose of the study, researchers from the University of Rochester used BioStampRC system technology to assess motor systems in two nerve-related disorders Parkinson disease and Huntington disease.
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Global Stretchable Electronics Market has been segmented based on Component, Applications, and Region.
Based on applications, the global market has been segmented into Consumer Electronics, Automotive, Aerospace & Defense, Healthcare, and others. The healthcare segment accounted for the largest market share of 35.4% in 2019, with a market value of USD 224.8 million; it is expected to register the highest CAGR during the forecast period. Measuring the quality of human health and well-being is one of the key growth areas in society. Nowadays, these measurements are done using sensory devices. These devices are integrated with stretchable electronics, which are attached to the human body as a patch or integrated into garments. Consumer electronics devices are categorized into mobile devices, wearable devices, and others. Wearable devices have the most prominent product of stretchable electronics. Stretchable electronics have applications in wearable electronics such as clothing, RFID, heaters, electrodes, and sensors. In the automotive industry, for applications in electric vehicles for land, water, and air, manufacturers are focusing on three-dimensional stretchability. Three-dimensional stretchability is required for producing rigid products by stretching them to form during the plastic molding process. Stretchable electronics are used in sensors and wearables, batteries, military equipment, and much more in the aerospace & defense industry. Information and tracking in contested environments are foundational to decision making and force projection. The scope of the other segment of the report includes textiles, energy, packaging, and logistics. E-textiles are products that involve both electronic and textile components.
The global stretchable electronics market, by region, has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and Central & South America. North America accounted for the largest market share of 38.0% in 2019, with a market value of USD 241.7 million; the market is expected to register the highest CAGR of 27.47% during the forecast period. Europe was the second-largest market in 2018, valued at USD 177.5 million; the market is projected to exhibit a significant CAGR. North America dominates the Stretchable Electronics Market based on the region due to increasing demand for wearable devices in the healthcare sector. Stretchable electronics are being preferred by companies and research organizations in North America due to their various applications in robotic sensory skins, wearable communication devices, and bio-integrated devices. Europe is expected to witness substantial growth over the next few years, Several of the European Union’s Future and Emerging Technology (FET) Flagship projects are focused on developing stretchable or flexible electronics, which have applications in fast, flexible and strong consumer electronics such as electronic paper and bendable personal communications devices.
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