The global automotive printed electronics market is on a remarkable growth trajectory, with a projected Compound Annual Growth Rate (CAGR) of 22.1% during the period of 2023 to 2030, ultimately reaching a market value of around US$13 billion by the end of 2030.
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The automotive printed electronics market comprises companies involved in the production of various electronic products, including electronic circuits, displays, antennas, electronic skin patches, and sensors. Printed electronics harness cutting-edge technology to create thinner and more wearable electronic devices, offering precision and cost-effectiveness. This technology enables the development of gadgets, sensors, and uniquely shaped components that can be seamlessly integrated into existing products across a range of substrates.
Key Report Findings:
Significant Cost Benefits Associated with Printing Electronics: Printed electronics offer manufacturing costs significantly lower than traditional electronics due to advanced and economically advantageous production techniques tailored for mass production. Leveraging low-cost printing methods on polymeric substrates and employing high-volume, cost-efficient printing processes result in lightweight, durable, and cost-effective electronic components. Research by Carnegie Mellon University indicates that printed electronics production can be up to 100 times cheaper than silicon-based sensors.
Increase in Printed Electronics Use in Automotive Industry is Fueling the Market Growth: The automotive sector extensively employs printed electronics in interiors, exteriors, and engine applications. This includes transparent heaters, antennae, battery warmers, sensors, flexible displays, and lighting. The growing preference for electric vehicles (EVs) and autonomous vehicles among consumers is a major driver of market expansion. Printed electronics have found utility in automotive seats for functions such as seat occupancy detection and heating. Recent applications encompass deicing windows, electrochromic dimming mirrors, and glass roof elements.
Growth Opportunities Across Regions:
Asia Pacific Remains Ahead of the Curve: Asia Pacific is likely to be the dominant regional market for automotive printed electronics throughout the period of projection. Asia Pacific is the largest manufacturing hub and home to many OEMs. In 2022, China alone recorded manufacturing of more than 23 million passenger cars. Rising consumer knowledge of the distinctions between conventional and printed electronics has helped drive market revenue growth in this area. The simplicity of manufacture, ease of integration, low cost, and energy efficiency of printed electronics set them apart from traditional electronics in major ways. A large range of raw substrates is also widely available, contributing to rising demand.
Europe Develops Lucrative Potential: The market for automotive printed electronics across Europe will display a significant CAGR over the forecast period. Due to expanding R&D investments and the acceptance of printed electronics in more automotive applications, including photovoltaic, lighting, and RFID devices, the technology is anticipated to take off in Europe as well as North America. These regions are expected to experience consistent growth rates during the projected period. The expansion of the target market in Europe is greatly aided by the region's growing adoption of cutting-edge technology and the expanding popularity of electronic items. Additionally, one of the main factors propelling market revenue development is the expanding use of RFID in healthcare institutions. RFID makes real-time traceability, identity, communication, temperature, and location of people and resources possible, which benefits healthcare institutions. Substantial expenditures in creating cutting-edge consumer electronics items have also aided in expanding the market's income in this area.
North America Sees Growth: Due to enormous investments made in enhancing the electric vehicle infrastructure, the US market accounted for the greatest revenue share in North America. Additionally, the US government is investing in cutting-edge technologies, especially in IoT and vehicle electrification, to reduce emissions.
Automotive Printed Electronics Market: Competitive Landscape
Leading players in the automotive printed electronics market include Samsung Electronics Co. Ltd., LG Display Co. Ltd., E Ink Hldgs, Nissha Co., Ltd., Molex LLC, Jabil Inc., ALT Technologies, and Quad Industries.
Browse Global Automotive Printed Electronics Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 - (By Substrate Outlook Coverage, By Technology Outlook Coverage, By Application Outlook Coverage, By Geographic Coverage and By Company): https://www.fairfieldmarketresearch.com/report/automotive-printed-electronics-market
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