Global stretchable, conformal electronics market to grow
North America is expected to remain the largest market
The global stretchable and conformal electronics market is expected to reach an estimated $478.9 million by 2025 and is forecast to grow at a CAGR of 89% from 2017 to 2025, according to a report from Research and Markets.
The future of the stretchable and conformal electronics market looks attractive with opportunities in the consumer electronics, healthcare, automotive, aerospace and defense, and textiles industries. The major growth drivers for this market are increasing usage of stretchable and conformal electronics products in the healthcare, consumer electronics, and textiles markets.
Emerging trends, which have a direct impact on the dynamics of the stretchable and conformal electronics industry, include adoption of stretchable electronics in artificial skin, biodegradable implants, and additive manufacturing as a new manufacturing technique.
Within the stretchable and conformal electronics market, consumer electronics is expected to remain the largest end use segment due to the increasing adoption of smart wearable devices across the globe. Improved performance, miniaturization, enhanced functionality, advanced sensor technology and intelligence in electronic systems are further supporting the growth of this market. Lucintel predicts that the demand for stretchable and conformal electronics in healthcare is likely to experience the highest growth in the forecast period supported by the demand for smart healthcare products, such as biomedical skins, smart bandages, health monitoring kits, and cyborg cardiac patches.
North America is expected to remain the largest market by value and is also expected to witness the highest growth over the forecast period because of growing demand for wearable technologies and increasing research and development by various institutions.