According to a new market research report “Stretchable Electronics Market by Component (Battery, Conductor, Circuit, Electroactive Polymer and Others), Application (Health Care, Consumer Electronics, Automotive Electronics, Textile, Aerospace & Defense And Others), Geography – Trends & Forecast to 2015-2023”, the total market is expected to reach $411.85 Million by 2023, at a CAGR of 121.3%.
Stretchable electronics are being preferred by companies due to their various applications in robotic sensory skins along with wearable communication and bio-integrated devices. In the past few years, extensive research activities have been undertaken to improve the stretchability of circuits on elastomeric substrates. This has led to significant progress; however, the designing of PCB assemblies on elastomers remains a real challenge for manufacturers.
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Stretchable electronics is a technology which combines electronic devices and circuits with stretchable substrates. These are also deposited on stretchable materials like silicon or polyurethanes, which are also used in a rigid printed board circuit manufacturing process. Stretchable electronics try to mimic the human skin and flesh in terms of its stretchability and mechanical performance.
The technology uses standard printed circuit board manufacturing steps and liquid injection moulding techniques to achieve a robust and reliable product. Stretchable electronics is the advanced form of electronics that has just started penetrating into the consumer products market in the form of wearable devices and smartphones along with, medical and health-monitoring applications. Additionally, it is also being deployed in defense and industrial applications.
The stretchable electronics market is expected to grow to $411.85 Million in 2023 at a CAGR of 121.3% between 2015 and 2023. Although the growth of the consumer electronics industry and increased utilization of organic solar cells is driving the growth of the said market, the lack of innovative and new devices and superior substitute technologies in the market is restraining the growth of the stretchable electronics market.
The global stretchable electronics market report describes the market trends, drivers, and challenges for the stretchable electronics and forecasts the said market till 2023. It also segments the said market on the basis of component, application, and geography. This report provides a bird’s eye-view of the said market across geographies, including North America, Europe, Asia-Pacific, and RoW (Rest of the World). North America is the largest market for stretchable electronics and is expected to retain its position till 2023, with the U.S. occupying the major market share. Europe and APAC are also considered to be promising markets, with the said market in Germany and the U.K. in Europe, and China and Japan in APAC witnessing rapid growth.
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The competitive landscape section presents valuable insights related to the players in the stretchable electronics market. The global stretchable electronics market report profiles the 10 promising players in the market, and further explains their business overview, product portfolio, recent developments, and the key strategies adopted by the same. There are several new product developments observed in the market along with, collaborations & partnership agreements across the value chain between the prominent companies.
The major players in the global stretchable electronics market include Koninklijke Philips N.V (Netherlands), Adidas AG (Germany), 3M (U.S), DuPont (U.S), BodyMedia(U.S), PARC (U.S), Cambrios (U.S), PowerFilm (U.S), Physical Optics Corporation (U.S), and MC10 (U.S).