According to a Research Cosmos report, the global printed and flexible sensors market was valued at $7.2 billion in 2016, and is projected to reach $12.3 billion by 2024, growing at a CAGR of 7% from 2017 to 2024. In 2016, the biosensor segment market generated the highest revenue share in this market. Among major regions, North America was the highest revenue generating market valued at $2.3 billion in 2016.
The report, “Printed and Flexible Sensor Market By Type, Industry Trends, Estimation & Forecasts to 2024”, estimated that constant improvisations in manufacturing technology have abridged the production and sensors costs radically due to which the market is expected to see a moderately slow growth in terms revenue. However, the prices of printed and flexible sensors are anticipated to decline in future with further advancements in manufacturing processes, hence enhancing the market growth.
Conclusions
- Biosensors represented the largest application segment in the printed and flexible sensors market in 2016
- Piezoresistive sensors are expected to witness the fastest growth during the forecast period
- Geographically, North America accounted for the largest share of nearly 32% of the printed and flexible sensor market in 2016.
- Asia-Pacific region is supposed to witness the fastest growth during the forecast period owing to advancements in sensor fabrication and encapsulation technologies that have reduced the sensors production cost. Countries such as Japan, South Korea and China offers the highest contribution to the Asia Pacific printed and flexible sensors market.
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