Newark, March 12, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 64 Billion Organic Electronics market will reach USD 377 Billion by 2033. Technological advancements in the consumer electronic industry and the availability of eco-friendly/sustainable solutions in the market are the major factors that may create lucrative opportunities for Organic Electronics devices in the market. Technological breakthroughs in the field of the Organic Electronics Market such as the introduction of flexible displays in foldable smartphones, and curved/semi-curable OLED smartphones. Moreover, the product is also deployed in various smart label packaging, authentication, and real-time monitoring of various product conditions.
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Key Insights on Organic Electronics Market
APAC emerged as the largest market for the global Organic Electronics market, accounting for 37% of the total market. Owing to the increasing demand for consumer electronics, in APAC countries such as India, China, and Japan further, the heavily growing number of market players in the region has also contributed to the growth of the Organic Electronics Market. Whereas, North America accounts for the highest growth rate in the market, owing to rapidly growing technological innovations, and investments in R&D in the region.
The semiconductor sector has dominated the market accounting for 37.43% of the total market.
The semiconductor sector has dominated the market accounting for 37.43% of the total market. Increasing investment towards the R&D sector for building effective and efficient devices that deploy Organic Electronics in the sector has helped the market grow in the period forecasted. Whereas the dielectric category is expected to witness higher growth in the market, owing to increasing demand for insulators in the electronic equipment category
The Display applications accounted for the largest share of the market share of 49% in 2023.
Display applications have dominated the Organic Electronics market and happen to be the fastest-growing segment within the market. It has acquired the market share of 49% in 2023. Owing to ease its increasing popularity in various OLED display products. Ranging from TV (Television), mobile phones, laptops to other electronic products.
Consumer electronics segment has dominated the market in the year 2023.
The Consumer electronic segment has dominated the Organic Electronics market with a market share of 57% in 2023. It is also expected to be the fastest-growing segment across the globe. Owing to the increased demand and supply of electronic products in the market (smartphones, TVs, LCDs, LEDs, Laptops, etc).
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Latest Development:
● In May 2022, InnovationLab GmbH acquired TAeTTOOz materials technology. The main objective behind this acquisition was to print rechargeable batteries from Evonik. Thus, with this acquisition, the company will enlarge its product portfolio base and help its end-users with dynamic tailor-made solutions for its customers.
● In August 2022, Researchers at Chalmers University of Technology proposed a modification, which will help increase its operational efficiency by 2 times than its current operations. With this variety of technologies will benefit from the same. Such as OLED Displays, bioelectronics, and plastic-based solar panels to name a few.
Market Dynamics
Drivers: The rapid growth of OLED displays in various applications
Rapidly growing demand for OLED (Organic Light-Emitting Diode) is one factor that will fuel the growth of the Organic Electronics Market in the long run. OLED displays are heavily used in majority of the consumer electronic products such as smartphones, TVs, and various wearable devices among others. The demand for consumer electronics regarding OLED displays has grown substantially thereby boosting the growth of the Organic Electronics Market.
Restraint: Limited market penetration in Organic Electronics Market
Organic Electronics has witnessed limited penetration than its traditional substitutes in the market. Majorly because of a lack of awareness of the product, variations in the cost of raw materials, and outdated technologies in the process. Thus, the market needs to increase its awareness levels to grow and increase profits in the long run.
Opportunity: Technological advancements in the consumer electronic industry
Technological breakthroughs in the field of the Organic Electronics Market such as the introduction of flexible displays in foldable smartphones, and curved/semi-curable OLED smartphones. Moreover, the product is also deployed in various smart label packaging, authentication, and real-time monitoring of various product conditions.
Challenge: Competition from silicon-based electronic (SET)
One major factor that may pose a greater challenge in the Organic Electronics Market is the stiff competition from its substitutes (traditional electronic technologies). When looking at its substitute Silicon-based electronic technology has a significant advantage over Organic Electronics. Owing to its established manufacturing process, its robust use and durability. The Market for Organic Electronics poses an immense threat to Organic Electronics over the period.
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Some of the major players operating in the Organic Electronics market are:
• Merck KGaA
• BASF SE
• Covestro AG
• DuPont
• AUO Corporation
• Sony Corporation
• Samsung Display
• LG Display Co Ltd
• Sumitomo Chemical Co Ltd
• Universal Display Corporation
Key Segments cover in the market:
By Material:
● Semiconductor
● Conductive
● Dielectric
● Substrate
By Application:
• Display
• Lighting
• Solar Cells
By End-User:
• Consumer Electronics
• Automotive
• Healthcare
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About the report:
The global Organic Electronics market is analysed based on value (USD trillion). All the segments have been analysed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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