Stretchable Electronics Market to Witness 87% CAGR until 2023
Increasing number of stretchable electronics spin-offs,
growing focus on R&D activities and expanding consumer electronics and
smart clothing markets to drive global stretchable electronics market through
2023
According to
TechSci Research report, “Global
Stretchable Electronics Market By Component, By Application, By Region,
Competition Forecast & Opportunities, 2017 – 2023’’, the global stretchable electronics market is forecast to
grow at an astounding 87% CAGR during
2018-2023. The global stretchable electronics market is in its evolutionary phase,
with major products being under the development phase and are expected to be
commercially available in the coming years. Research & development
activities by researchers from leading educational institutes, such as Stanford
University, University of Illinois, University of Tokyo, etc., to develop
stretchable electronics, such as stretchable sensors, organic solar cells,
etc., is expected to positively influence the global stretchable electronics market during the forecast period.
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Increasing number of spin-offs of leading educational
institutes, such as MC10, Stretchable Circuits, etc., and growing smart
wearables market is expected to boost the global stretchable electronics market
over the course of next five years. By component, photovoltaics segment is anticipated
to witness the fastest growth rate in the stretchable electronics market, owing
to the development of stretchable solar cells, which are anticipated to be used
to power smart wearables in the coming years. With increasing need for
effective health monitoring and improving user convenience by designing
conformal medical devices, such as pacemakers, wearable sensors, etc., demand
from healthcare sector is likely to grow at a fast pace in the global
stretchable electronics market.
MC10 Inc., StretchSense Limited., tacterion GmbH, E.
I. du Pont de Nemours and Company, FINELINE Ltd., Wise Srl, Bainisha cvba,
Express Circuits Group Ltd, etc., are the major companies operating in the global
stretchable electronics market. North America accounts for the largest revenue
share, owing to the high adoption of consumer electronics products and presence
of leading institutes carrying out R&D on stretchable electronics.
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“Extensive research in the field by companies
including MC10, Stretchsense, etc., to develop stretchable electronics for various
applications such as healthcare monitoring and motion sensing is expected to
drive the global stretchable electronics market in the coming years. Moreover,
rising Internet of Things (IoT) ecosystem, growing popularity of smart apparels
and development of touch sensitive Electronic-Skin (E-Skin) is further anticipated
to boost the global stretchable electronics market until 2023.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Stretchable Electronics Market By
Component, By Application, By Region, Competition Forecast & Opportunities,
2017 – 2023” has analyzed
the potential of stretchable electronics market, and provides statistics and
information on market size, shares and trends. The report will suffice in
providing the intending clients with cutting-edge market intelligence and help
them in taking sound investment decisions. Besides, the report also identifies
and analyzes emerging trends along with essential drivers and key challenges
faced by the global stretchable electronics market.
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