Stretchable Electronics Market Valued at USD 635.6 Million in 2020 and is Expected to Reach USD 2.98 Billion by 2026 Growing with a CAGR of 25.29%

The Key Players of the Global Stretchable Electronics Market are PARC, Cambrios, PowerFilm, Koninklijke Philips N.V, Apple Inc, Adidas AG, 3M Company, Palo Alto Research Center Incorporated, DuPont, BodyMedia, Physical Optics Corporation, IDUN Technologies Ltd, and MC10

Pune, Feb. 17, 2021 (GLOBE NEWSWIRE) -- Market Analysis 
The global Stretchable Electronics Market is highly lucrative and predicted to witness significant growth at a 25.29% CAGR over the forecast period (2020-2026), reveals the Market Research Future (MRFR) report. Stretchable electronics, simply put, is a technology that combines flexible or rigid electronic circuits and devices with stretchable substrates. They are deposited on stretchable materials such as polyurethanes that are used in the manufacturing process of rigid printed board circuit. Stretchable electronics mimic the flesh and skin of humans with regard to mechanical performance and stretchability. It is also known as elastic circuits or elastic electronics. They can include the same electronic devices which are used for rigid printed circuit boards, with the only thing that needs to be altered is the interconnects and the substrate, which requires to be stretchable in nature. 

Fascinating Features Fuelling Market Growth 
As per the Market Research Future report, there are numerous factors that are propelling the stretchable electronics industry growth. These include the growing awareness about the benefits of stretchable electronics such as low fabrication cost, simple fabrication, and long switching times, stretchable electronics is likely to allow new markets for low-cost, lightweight, high performance, flexible, or large-area disposable devices, growing high end-user interest, the need for working integrated devices, and growth in the consumer electronics. Additional factors adding to the elastic circuits market growth include the increased utilization of organic solar cells, miniaturization of electronic products for better operational speed, extensive research to increase stretchability of material, and growing adoption of the wearable device. 

On the contrary, increasing competition from non-stretchable electronics products, the complexity of the value chain, lack of awareness, and the obstacle to find suitable material may impede the global stretchable electronics market growth over the forecast period. 

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COVID-19 Analysis 
The emergence of the novel coronavirus has pulled down the growth rate of the stretchable electronics market. Implementation of lockdown worldwide is the key reason for the fall in the growth. The pandemic has caused major delays for electronic manufacturers as suppliers in China faced challenges to keep factories running at full fledge. Most electronic manufacturers in Europe and the US rest on specific components that are built by suppliers in China, so there has been a delay in supply due to the spread of the COVID-19. Companies, however, are committed to serving customers by adhering to the regulations and rules laid down by the government in respective regions. 

On the brighter side, the market also saw some positive light amidst the pandemic. Philips, for instance, launched Philips Biosensor BX100, its next-generation wearable biosensor for early deterioration detection of patients. It helps to manage suspected and confirmed coronavirus patients in the hospital. On the other hand, Stanford University’s Zhenan Bao has made stretchable electronics for artificial skin that can be used for both robots and human prostheses. All these are likely to have a positive impact on market growth. 

Market Segmentation 
The Market Research Future Report provides an inclusive analysis of the stretchable electronics market based on applications and component. 

By component, the global stretchable electronics market is segmented into photovoltaics, stretchable conductors, stretchable batteries, electroactive polymer, and stretchable circuit. Of these, the electroactive polymer segment will lead the market over the forecast period. It will grow at a whopping 26.64% CAGR by 2026. 

By application, the global stretchable electronics market is segmented into healthcare, aerospace and defense, automotive, consumer electronics, and others. Of these, the healthcare segment will dominate the market over the forecast period. It will grow at a high CAGR by 2026. 

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Regional Segmentation 
North America to Lead Stretchable Electronics Market 
By region, the global stretchable electronics market covers growth opportunities and the latest trends across Europe, the Asia Pacific (APAC), North America, and Rest of the World (RoW). Of these, North America will lead the market over the forecast period. Widespread adoption of new technology, growing investments in building and developing organic stretchable photovoltaic cells, touch sense eskin, and IoT, surging need for wearable technologies, rising research and development by various institutions, and the presence of leading developers and competitors of stretchable electronics technology are adding to the global stretchable electronics market growth in the region. Canada and the US have the maximum market share owing to the burgeoning need from the healthcare sector. 

Europe to Hold Second-Largest Share in Stretchable Electronics Market 
In Europe, the stretchable electronics market is predicted to hold the second-largest share over the forecast period. Several developed country level markets are leading growth owing to increased growing awareness of stretchable electronics coupled with the resulting consumer demand which are adding to the global stretchable electronics market growth in the region. 

APAC to Have Significant Growth in Stretchable Electronics Market 
In the APAC region, the global stretchable electronics market is predicted to have significant growth over the forecast period. The growing popularity of stretchable bio-batteries and organic solar cells, increasing investments in soft robotics with touch-sensitive e-skins, growing and high adoption of consumer electronic products across the region, the growing need for portable renewable energy resources, and growing population are adding to the global stretchable electronics market growth in the region. Besides, the increasing demand for effective and accurate monitoring of physical conditions, the presence of massive consumer electronics industry, and the increasing number of semiconductor manufacturers are also adding market growth. 

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Competitive Landscape 
The global stretchable electronics market is competitive and fragmented with the presence of several key players. These major players have encompassed different strategies to increase their footprint in the market, such as acquisitions, partnerships, joint ventures, agreements, expansions, and new product launches. 

Notable Players in The Global Stretchable Electronics Market Are:

  • MC10 (U.S)
  • IDUN Technologies Ltd (Switzerland)
  • Physical Optics Corporation (U.S)
  • BodyMedia (U.S)
  • DuPont (U.S)
  • Palo Alto Research Center Incorporated (US)
  • 3M Company (U.S)
  • Adidas AG (Germany)
  • Apple Inc, (U.S.)
  • Koninklijke Philips N.V (Netherlands)
  • PowerFilm (U.S)
  • Cambrios (U.S)
  • PARC (U.S)

Browse Adjacent Markets: Silicon, Wafer and Fabrication Market Research Reports & Consulting.

Industry Updates 
January 2021- Researchers at the University of Chicago have developed improved stretchable electronics. The new design will enable electronics to stretch sans compromising data and ultimately will help in an out-of-clinic approach for monitoring health. 

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