Stretchable electronics, also known as elastic circuits, is a burgeoning technology for developing electronic circuits by embedding the stretchable electronic devices and circuits on extensible substrates or mounted on them in a stretchable chemical compound material such as silicones or polyurethanes. The Stretchable Electronics Market can be developed by implementing the chemical components used for rigid printed circuit boards (PCBs).
Some of the companies such as PARC (U.S), Cambrios (U.S), PowerFilm (U.S), Koninklijke Philips N.V (the Netherlands), Apple Inc, (U.S.), Adidas AG (Germany), 3M (U.S), DuPont (U.S), Body Media (U.S), Physical Optics Corporation (U.S), MC10 (U.S) and others are developing the stretchable electronics products. In 2016, La Roche-Posay, the parent company of L’Oréal, launched My UV Patch, the first stretchable electronic device for mainstream consumers. My UV patch is acquainted with near-field communication (NFC) antenna along with a microchip, which sends wireless signals to mobile devices. In addition to it, the product also contains photosensitive dyes that help to change color based on the exposure to light.
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The major driving factors for the stretchable electronics market is an increase in demand for inexpensive materials for solar cells, rapidly expanding consumer electronics industry, and raising awareness of wearable devices in the healthcare industry. However, lack of innovative techniques to develop complex circuits into simplest form, and high cost involved in developing stretchable technologies is expected to hinder the growth of stretchable electronics market over the forecast period. Furthermore, increased investment to develop the flexible and stretchable electronic product in various industrial applications are anticipated to be a better prospect over the next few years.
Global stretchable electronics market is expected to reach approximately USD 763 million by 2023 growing at a 64% CAGR over the forecast period 2017-2023
Some of the key players of stretchable electronics market include PARC (U.S), Cambrios (U.S), PowerFilm (U.S), Koninklijke Philips N.V (Netherlands), Apple Inc, (U.S.), Adidas AG (Germany), 3M (U.S), DuPont (U.S), BodyMedia (U.S), Physical Optics Corporation (U.S), and MC10 (U.S).
The Stretchable Electronics market is differentiated by component and application.
By component, the stretchable electronics market is sub-segmented as batteries, circuits, electro-active polymers, stretchable conductors, stretchable Light emitting diodes, Stretchable sensors, Stretchable energy harvesters, and photovoltaic. Additionally, the stretchable sensors include stretchable strain sensors, stretchable pressure sensors, and stretchable temperature sensors. Furthermore, the stretchable energy harvesters include stretchable solar cells, piezoelectric energy harvesters, and thermoelectric energy harvesters.
On the basis of applications, the market is sub-segmented into consumer electronics products, automotive electronics, aerospace & defense, healthcare, textiles, and telecom. Furthermore, the consumer electronics products are categorized as mobile devices, wearable devices, and others.
Geographically, the stretchable electronics market is segmented into four different regions namely North America, Asia Pacific, Europe, and the Rest of the World.
North America is presumed to have significant growth in the stretchable electronics market. The U.S. and Canada are the leading countries in the region. The growth is attributed to increasing demand for wearable devices in the healthcare sector. Additionally, Europe is expected to have substantial growth over the next few years. The United Kingdom, Germany, and France are the leading countries in the region. This is due to surging awareness of wearable gadgets for gaming applications. Asia Pacific is also anticipated to be the fastest growing region in the stretchable electronics market over the forecast period. India, Japan, South Korea, and China are the leading countries in the stretchable electronics market. This is due to the presence of a large number of electronics and semiconductor manufacturers in the region.
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TABLE OF CONTENTS
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
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