The forecasted growth of the global structural electronics market indicates an increase from USD 40.24 billion in 2020 to USD 74.57 billion by 2028, with a CAGR of 8.03% during the forecast period. The market's expansion is primarily driven by the rise in Internet of Things (IoT) technologies and advancements in 3D technology, which contribute to the growth of structural electronics. Additionally, there is a growing demand for lightweight, cost-effective, and compact products.
The progress made in materials science, particularly in the development of stretchable conductive materials, along with the diverse range of applications and government funding, are expected to play crucial roles in driving advancements in structural electronics.
However, it is important to note that the lack of technological awareness is projected to hinder the growth of the market during the forecast period.
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Further key findings from the report suggest
- The Global structural electronics market size is forecasted to grow from USD 40.24 Billion in 2020 to USD 74.57 Billion by 2028, at CAGR of 8.03% during the forecast period. Increase in Internet of Things (IoT) and Improvements in 3D technology are the factors that drive the growth of the market in structural electronics. The demand for lightweight, cost - effective and compact products is also increasing.
- Due to the increasing demand for hybrid and pure electric vehicles, the photovoltaic segment is expected to be the fastest growing segment in the structural electronics market during the forecast period. Although lower level of technological awareness, complex manufacturing processes and speculation about the practical efficiency of structural electronics limit their adoption on a broad scale.s
- On the basis of Application, the automotive sector is expected to have the largest market share during the forecast period. The next important thing in smart cars is structural electronics, as the elements of structural electronics would be integrated into the body and underground carriage of the vehicle, thus resembling the human nervous system and allowing cars to recognize touch and damage immediately.
- On the basis of region, the market for North America is expected to have the largest market share during the forecast period. The increased penetration of structural electronics in this region can be related to the growing adoption of these products in photovoltaic products, conductors and sensors used in high - priced cars and spacecraft. In addition, electric vehicles are the main consumers of structural electronics, which is forecasted to drive the growth of the studied market, as electric cars are increasingly being used by North Americans.
Competitive Landscape:
TactoTek Oy (Finland), Boeing Company (US), Canatu Oy (Finland), Neotech AMT (Germany), Molex LLC (US), Faradair Aerospace (UK), Toyobo Co. Ltd. (Japan), Panasonic Corporation (Japan), T-Ink (US) and Local Motors (US)
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The global market is further segmented into type and application:
Integrant (Revenue, USD Million; 2020-2028)
- Photovoltaic
- 3D Printers
- Battery
- Printed and Flexible Electronics
- OLED Display
- OLED Lighting
Application Type (Revenue, USD Million; 2020-2028)
- Automotive
- Aerospace
- Consumer Electronics
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Takeaways of the Competitive Overview Section:
- Overview of the company profiles of each market player
- Industrial chain analysis of each player
- Revenue share contribution
- Sales network and distribution channels and net profits and losses of each company
- Key business growth strategies are undertaken by these players
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