New York, USA, Jan. 18, 2022 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Organic Semiconductor Market information by Type, by Application and Region – forecast to 2027” market size to reach USD 179.4 billion, growing at a compound annual growth rate of 22.4% by 2024.
Market Scope:
Organic semiconductors are preferred in consumer electronics and organic chemistry sectors due to its inherent nature of semiconducting and non-dependence of arrangement of elements in a structured lattice. They are resistant to impurities and provide a large scope for low-cost processing. The global organic semiconductor market report by Market Research Future (MRFR) provides an unbiased perspective on semiconductor organic materials and their scope in molecular design.
Dominant Key Players on Organic Semiconductor Market Covered are:
- BASF SE
- Samsung
- Bayer AG
- Sumitomo Corporation
- Sony Corporation
- Merck & Co.
- Novaled GmbH
- Koninklijke Philips N.V.
- LG
- Universal Display Corporation
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Market USP Exclusively Encompassed:
Market Drivers
Healthcare Applications to Propel Market Demand
The market can be lucrative over the forecast period due to applications in curved HD TVs, smartphone displays, and other consumer electronic products. Efforts to increase functionality and lower battery life can lead to a marriage of organic semiconductors with natural materials. Surge in sustainable production approaches and compatibility of chips with biomedical applications can bolster market demand effectively. Organic transistors can simulate as well as emit electrical signals.
Low Lifespan of Electronic Products to Limit Market Growth
The low shelf life of consumer electronic products containing organic semiconductors can limit the market growth. Environmental effects on devices and declining life of metals can prove to be a challenge to market leaders due to budget constraints.
Browse In-depth Market Research Report (141 Pages) on Organic Semiconductor Market:
https://www.marketresearchfuture.com/reports/organic-semiconductor-market-8069
Segmentation of Market Covered in the Research:
Polyethylene Semiconductors to Dominate Market Share
On the basis of type, the market has been segmented into polyethylene, polyaromatic ring, and copolymer. Polyethylene semiconductors are doped with other metals to develop cohesive materials. Development of flexible electronics and huge demand for elasticity can drive segment growth.
Display Applications to Lead in Global Market
By application, the market has been segmented into system component, organic photovoltaic (OPV), OLED lighting, printed batteries, organic RFID tags, and display applications. Display application can provide opportunities to the market owing to development of white light emitting OLEDs and new fabrication processes. Demand for premium displays and active-matrix OLED displays can bolster segment growth in the organic semiconductor market.
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Regional Analysis
APAC to Lead Organic Semiconductor Market
APAC is touted to lead the global market owing to increased demand for chips due to consumption of consumer electronics. Advances in flexible electronics and wearables as well as focus on health can drive market demand. China, Taiwan, and South Korea can take the lead in the region owing to use of organic materials and aversion to plastic among customers.
North America to Assume Second Position
North America has assumed the second position in the organic semiconductor market owing to huge demand for consumer electronic products and presence of leading semiconductor manufacturers. Efforts to lower the effects of carcinogens present in metals can prove to be lucrative for the market. But shortage of chips due to hurdles in the supply chain can limit regional growth.
COVID-19 Impact on the Global Organic Semiconductor Market
The COVID-19 outbreak has affected the organic semiconductor market owing to disruptions in the supply chains and restrictions imposed by governments. Changes in customer purchase behavior as well as ban on travel can impact market growth. But huge demand for chips and digitization of economies can drive demand for organic substrates. Deployment of latest networking technologies and establishment of data centers can provide opportunities for the market.
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Industry News
Senorics, a German company, has raised USD 8 million in funding for commercialization of its latest optoelectronic sensors made from organic semiconductors. The devices can be used in analysis of material compositions and cover a large spectral range of wavelengths.
Industry Trends
Hybrid image sensors are expected to be a lucrative opportunity for organic semiconductors owing to proliferation of smartphones. Its ability to enable SWIR and NIR imaging at long wavelengths without need of higher capital can lead to a boost in production. Integration of machine learning in various camera-based applications and requirement of high processing of data can bode well for the market.
Development of patented image sensors as well as inflow of equity by venture capital firms to leverage on obsession of consumer electronic products can augur favorably for the organic semiconductor market. Applications in household appliances to field work can widen the prospects of the market. Efforts to bridge the energy gap in organic devices by replacement of atoms or molecules in the material can pave the way for new opportunities.
Competitive Analysis
New product launches and initiatives taken by equipment manufacturers to create public awareness and sell their products are prime strategies of market players. Partnerships and collaborations to improve existing technologies can also be witnessed during the forecast period. Expansion efforts of component manufactures to controlling the value chain can transform the market.
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