Albany, NY — (SBWIRE) — 10/09/2017 — The decidedly superior performance and applicability of printed and flexible sensors will give them a clear advantage over conventionally used sensors. However, despite the massive potential that they carry, the global printed and flexible sensors market is currently in its early days of commercialization. And this will, in turn, result in the market reporting a CAGR of 2.5% between 2012 and 2020, says Transparency Market Research in its latest report. The market for printed and flexible sensors had a valuation of US$6.28 bn in 2013 and will rise moderately to stand at US$7.51 bn by 2020. The TMR report is titled ‘Printed And Flexible Sensors Market – Global Industry Size, Share, Trends, Analysis, And Forecasts 2012 – 2020.’
The growth of the global printed and flexible sensors market will be hinged on the explosion of Internet of Things (IoT) in virtually every industry. The report notes that the multibillion-dollar IoT industry-enabled by technologies such as wireless apps, cloud networks, and sensors-will create an array of opportunities for the use of printed and flexible sensors. Fragmentation is one aspect that currently defines and characterizes the competitive scenario in the global printed and flexible sensors market. Competition is currently high in the printed and flexible sensors market and this serves as a motivation for companies in the market to innovate.
On the basis of type, the printed and flexible sensors market is segmented into: Biosensors, piezoelectric, capacitive, photodetectors, piezoresistive, digital X-ray sensors, hybrid CMOS sensors, gas sensors, and temperature sensors. Of these, biosensors have been on the commercial market for a few years now, making them the most matured technology in this market. Biosensors find uses in an expanding line of applications, with glucose strips taking the lead. The use of biosensors in the pharmaceutical industry is expected to move upward in the next few years as they find wider acceptance in the diagnosis and monitoring of kidney diseases, cancer, and cardiovascular conditions.
The report finds that printed and flexible piezoelectric sensors segment holds the greatest potential for growth and commercial success. End-use industries that will aid the adoption of printed and flexible piezoelectric sensors include healthcare, apparel and textile, automotive, and consumer electronics. As a result of these factors, the printed and flexible piezoelectric sensors market will log the fastest growth rate over the report’s forecast period.
For the purpose of this study, the market is also segmented on the basis of regions into: Europe, North America, Asia Pacific, and Rest of the World. The findings of the report show that North America stood as the largest regional market for printed and flexible sensors in 2013; it was trailed by Europe at second spot. The next few years, however, will see the Asia Pacific region create a multitude of opportunities for the growth of the printed and flexible sensors market. Breakneck industrialization in China and India will aid this trend. From the standpoint of innovation and product breakthroughs, Europe’s position remains largely unrivalled.
Investors are keen on pouring funds into the global printed and flexible sensors market, creating a fertile ground for both product innovation and commercialization. This has also resulted into several new players foraying into the market. Players that currently have a strong foothold in the global printed and flexible sensors market are: Thin Film Electronics ASA, ISORG, KWJ Engineering, GSI Technologies, and Peratech UK.
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