Printed & Flexible Sensors Market Expected to Reach $8.6 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Printed & Flexible Sensors Market by Type, Application: Global Opportunity Analysis And Industry Forecast, 2022-2031," The printed & flexible sensors market was valued at $3.9 billion in 2021, and is estimated to reach $8.6 billion by 2031, growing at a CAGR of 8.3% from 2022 to 2031.

Printed and flexible sensors can be defined as sensors printed on flexible materials. These sensors can be stretched or bent when being used and they still maintain their mechanical and electrical properties. It is possible to package them conformally with devices so that products can be miniaturized. Such advantages have led to the promotion of flexible sensors instead of rigid sensors, especially as the latter sensors also typically lose their sensitivity when subjected to bending. Infact, printed and flexible sensors have shown enhanced mechanical and thermal properties, as well as lighter weight when compared to rigid sensors.

The printed and flexible sensors market size is driven by its requirement in portable and smart electronic products from the consumer electronics industry. These sensors are also extensively required in healthcare industry, which uses a variety of them. And lastly, they are also expected to be in high demand for the deployment of Internet of Things (IoT). However, the market for printed and flexible sensors is restrained by their high manufacturing cost and the adolescent stage of the technologies used to manufacture them. Separately, the expanding number of applications of printed and flexible sensors presents an opportunity for printed and flexible sensors market growth during the forecast period. To this end, considerable amounts of funds are being dedicated to research in flexible electronics and flexible sensors.

In terms of market segmentation by printing technology, the printed and flexible sensors market share was dominated by flexographic printing technology segment in 2021, whereas the screen printing technology segment is expected to witness a higher growth rate during the forecast period. The former is one of the oldest technology in use in this market, which acts as a major advantage for it. In terms of market segmentation by type, the market was dominated by image sensors segment in 2021, whereas the chemical sensors segment is expected to witness a higher growth rate during the forecast period. The image sensors segment benefits from its high demand in consumer electronics industry. In terms of market segmentation by application, the market was dominated by consumer electronics segment in 2021, whereas the automotive segment is expected to witness a higher growth rate during the forecast period. The adoption of smart electronics by populations of various countries has led to the growth of the consumer electronics segment.

In terms of region, the printed and flexible sensors market trends were dominated by Asia-Pacific in 2021, even though LAMEA is expected to grow at a faster rate during the forecast period. A major advantage which can be attributed to Asia-Pacific region is that, it is a large market for consumer electronics and automotive industries, on account-of its recent industrialization as well as large population.

Key findings of the study

• Based on printing technology, the flexographic printing segment accounted for maximum share of the printed and flexible sensors industry in 2021, while the screen printing technology segment is expected to witness faster growth during the forecast period.
• Based on type, the image sensors segment accounted-for highest share of the printed and flexible sensors market in 2021, while the chemical sensors segment is anticipated to increase faster during the forecast period.
• Based on application, the consumer electronics segment dominated the printed and flexible sensors market in 2021, while the automotive segment is expected to expand at a faster rate during the forecast period.
• Based on region, Asia-Pacific accounted for largest share of the global printed and flexible sensors market in 2021, while LAMEA is anticipated to grow faster during the forecast period.

In the printed and flexible sensors market analysis, the players profiled in the report include Fujifilm Holding Corporation, Canatu Oy, Interlink Electronics Inc., Tekscan, Inc., GSI Technologies, KWJ Engineering Inc., PST Sensors (pty) Ltd., ISORG SA, Peratech Holdco Limited, and PolyIC. Various strategies such as collaborations & partnerships, product launches, and acquisitions have been adopted by market players to expand their foothold in the printed and flexible sensors market.