The printed sensors market was estimated at $6.71 Billion in 2015 and is expected to reach $10.46 Billion by 2022, at a CAGR of 7.0% between 2016 and 2022. Printed sensor market is driven by the advantages of printed sensors over conventional sensors based on silicon. Different from conventional sensor technology, printed sensors are flexible, thin, lightweight, and organic. The disadvantages of conventional sensors such as rigidity, bulkiness, and complex architecture among others are largely overcome by printed sensors. Thus, it is expected that the demand for printed sensors will grow significantly in the near future.
The printed biosensors lead printed sensors market.
The large market share of printed biosensors is attributed to the high demand for glucose test strips that are used for diabetes monitoring and are the most matured type of printed sensors. Moreover, the rapid technological advancements, growing demand for glucose monitoring in diabetic patients, and rising demand for home-based point-of-care devices are the significant growth drivers for the printed biosensors market. In addition to this, the growing integration of biosensors in consumer electronics and environmental monitoring applications also contributes to the large market share of the printed biosensors market.
The smart packing application is expected to grow fast.
Printed sensors play a major role in the smart packaging application as they help the manufacturers to keep track of their inventories. They are also used to monitor temperature, humidity, and gas for sensitive products, especially food and beverages. Moreover, given the rise in the adoption of smart packaging across the globe to increase the visibility, hygiene, quality, and safety of the product, there is a demand for printed sensors.
Europe is the leader of market share in 2015.
Europe took the largest share of the printed market in 2015, while the market in Asia-Pacific is expected to grow at the highest rate during the forecast period. The high growth of the Asia-Pacific market is attributed to the presence of a number of leading consumer electronics manufacturers, rapid industrialization in the region, the growth in the production of commercial as well as non-commercial vehicles with driver assistance systems and touch infotainment systems, and the increasing number of patients of lifestyle diseases such as diabetes.
Credit: Markets and Markets
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