Burlingame, May 21, 2024 (GLOBE NEWSWIRE) -- CoherentMI published a report, titled, South Korea Printed Electronics Market is estimated to value at US$ 330.3 Million in the year 2024 and is anticipated to reach US$ 821.5 Million by 2031, at a CAGR of 13.9% during forecast period 2024-2031.
Market Dynamics:
The South Korea Printed Electronics market is driven by the increasing demand for flexible displays in various applications such as smartphones, TVs, and wearable devices. Additionally, the growing adoption of printed electronics in the automotive industry for manufacturing smart sensors and touch panels is further fueling market growth.
Market Report Scope:
| Report Coverage | Details | |
| Study Period | 2024 - 2031 | |
| Base Year of Estimation | 2023 | |
| CAGR | 13.9% | |
| Largest Market | South Korea | |
| Market Concentration | High | |
| Major Players | Samsung Display Co., Ltd., LG Display Co., Ltd., Seoul Viosys Co., Ltd., Agfa-Gevaert N.V., Optomec Inc. and Among Others. | |
| Segments Covered | By Device, By Material, By End-User Industry | |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends | |
| Growth Drivers | • High demand from consumer electronics sector • Development of flexible/wearable devices | |
| Restraints & Challenges | • Higher costs compared to traditional electronics • Underdeveloped printed sensors market | |
Key Market Takeaways:
- South Korea Printed Electronics Market Size is anticipated to witness a CAGR of 13.9% during the forecast period 2024-2031, owing to the growing demand for consumer electronics and the increasing adoption of printed electronics in the healthcare sector in the country.
- On the basis of the Device segment, Displays are expected to hold a dominant position, owing to their widespread use in consumer electronic devices.
- In the Material segment, Substrates are expected to dominate, as they are essential components in the manufacturing of printed electronic devices.
- In End-use Industry segment, Consumer Electronics is expected to dominate, driven by the high demand for printed electronics in consumer electronic devices.
- On the basis of region, South Korea is expected to hold a dominant position over the forecast period, due to its strong presence in the global electronics market and its focus on innovation in the consumer electronics and healthcare sectors.
- Key players operating in the South Korea Printed Electronics market include Samsung Display Co., Ltd., LG Display Co., Ltd., and Seoul Viosys Co., Ltd. These key players are expected to play a crucial role in driving the growth of the printed electronics market in South Korea through innovative product offerings and strategic partnerships.
Market Trends
One of the key trends in the South Korea Printed Electronics market is the rising investment in research and development activities to innovate new products and enhance the performance of printed electronics. Another trend is the focus on sustainability, with companies developing eco-friendly materials and processes to reduce the environmental impact of printed electronics production.
Recent Developments:
- In September 2021, Samsung Electronics CO., Ltd. is a South Korean multinational major appliance and consumer electronics corporation headquartered in Yeongtong-gu, Suwon, South Korea. Released the 24-inch Webcam display S4 (Model Name: S4OVA), its newest display, which is intended to meet the demands of workers who are hybrids. The display facilitates seamless communication and teamwork among users by featuring an integrated webcam, speakers, and microphones.
- In April 2021, E Lnk Holdings Inc. develops, manufactures, and markets consumer electronic products. The Company produces electronic paper, electronic ink, electronic inkfilm, and other products and provides internet of things application services. EInk Holdings markets its products in Asia, America, and other regions. Entered into a reseller partnership with DATA MODUL (Germany), a reputable manufacturer of embedded, touch, and display monitors, with an emphasis on the U.S. and European markets.
Read a complete market research report, "South Korea Printed Electronics Market Size And Share Analysis - Growth Trends And Forecasts (2024 - 2031)", Published by CoherentMI.
Market Opportunities:
Growing Demand for Consumer Electronics in South Korea
The market opportunity in South Korea for printed electronics is largely driven by the growing demand for consumer electronics in the country. With a tech-savvy population and a strong emphasis on innovation, South Korea is known for its thriving consumer electronics industry. As a result, there is a significant demand for printed electronics for use in displays, sensors, batteries, RFID tags, and lighting for consumer electronic devices.
With South Korea being a dominant player in the global electronics market, the demand for printed electronics in the country is expected to continue to grow. This presents a significant market opportunity for companies operating in the printed electronics industry to capitalize on the demand and expand their market presence in South Korea.
Increasing Adoption of Printed Electronics in Healthcare Sector
Another market opportunity in South Korea for printed electronics lies in the healthcare sector. The adoption of printed electronics in healthcare applications such as wearable sensors, smart packaging, and textiles is on the rise in the country. Printed electronics offer unique advantages in healthcare applications, such as flexibility, lightweight, and cost-effectiveness, making them ideal for use in wearable medical devices and smart textiles.
With the increasing focus on healthcare innovation and digital health solutions in South Korea, the demand for printed electronics in the healthcare sector is expected to grow significantly. This presents a lucrative market opportunity for companies operating in the printed electronics industry to collaborate with healthcare providers and manufacturers to develop innovative solutions for the healthcare sector in South Korea.
In conclusion, the market opportunities in South Korea for printed electronics offer significant growth potential for companies operating in the industry. By capitalizing on the growing demand for consumer electronics and the increasing adoption of printed electronics in the healthcare sector, companies can expand their market presence and establish a strong foothold in the South Korean market.
South Korea Printed Electronics Market Segmentation:
- By Device
- Displays
- Sensors
- Batteries
- RFID Tags
- Lighting
- By Material
- Substrates
- Inks
- Transistors
- Batteries
- Sensors
- By End-use Industry
- Consumer Electronics
- Healthcare
- Smart Packaging
- Textiles
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Top Questions Answered in this Report:
- What factors are impeding the growth of the South Korea Printed Electronics Market?
- What are the primary drivers fueling the growth of the South Korea Printed Electronics Market?
- Which segment dominates as the leading component in the South Korea Printed Electronics Market?
- Who are the key players actively participating in the South Korea Printed Electronics Market?
- Which region is expected to take the lead in the South Korea Printed Electronics Market?
- What is the projected CAGR of the South Korea Printed Electronics Market?
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