The field of organic electronics deals with synthesis, design, application and characterization of polymers and small organic molecules. These materials are constructed from carbon-based molecules using synthetic strategies. The devices enabled with organic electronics are often referred to as the next generation devices as they showcase high efficiency, performance and reliability. These devices are low cost, hence; find numerous applications across different products. The global organic electronics market is strongly driven the upward trend of adoption in the industry. Growth in demand for these devices is also driven by the technological advancements and overall growth of the semiconductor sector on the whole.
Drivers & Restraints for the Market
The global market is driven by three crucial factors. As per the experts, improved performance and sustainability of the technology in the market is one of the major driving factors for the global market. Apart from that, rapid growth in the global consumer electronics market and emerging applications and functionalities in the organic electronics market are also creating significant growth for the global industry. Penetration of the market across various industrial vertical, especially digital signage and military are expected to create strong business opportunities for the market in the years to come. Competing technologies, low electrical conductivity and complex fabrication, however, remain major restraining factors for the global market.
Segmentation & Forecasting
Researchers segment the global organic electronics market on the basis of the types of materials, which include conductive, semiconductor, substrate and dielectric materials. On the basis of the types of applications, they segment the global market into conductive ink, battery, lighting, display, sensor, ORFID, logic/memory, OPV and others. On the basis of the geographic regions, the global industry is categorized into North America, Asia Pacific, Europe and the rest of the world. Analysis of all these segment and sub-segments helps the researchers to analyze all the aspects of the industry are estimate projected growth for the overall marketplace.
As per the analysis by the researchers, the global organic electronics market is expected to maintain a healthy CAGR of over 29% from the year 2014 to 2020. At the projected growth rate, they expect the market to become worth more than $75.82 billion by the end of the year 2020. Asia Pacific is currently expected to hold the largest share in the market, as it is home to some of the leading players in the global industry. Europe is expected to dominate the market in terms of research and development activities.