The global stretchable electronics market spans across North America, Europe, Asia-Pacific, the rest of the world. The fabrication of transparent, stretchable electronic devices has gained a lot of interest due to the potential of wearable electronic systems. Stretchable systems are often achieved by engineered shapes and elastic substrates that are intrinsically stretchable. These systems are highly used in common wafer and circuit board applications because of their unique capability to combine with flexible materials and curvilinear surfaces. Various methods have been applied to manufacture stretchable systems, and the most common method is the use of intrinsically stretchable materials that can reversibly endure high deformations (>200%).
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Several advancements in wearable electronics have caused a paradigm shift in consumer electronics, and emerging developments in stretchable electronics have created a new spectrum of applications for electronic systems. Wearable and mobile health monitoring technologies are rising due to the increasing geriatric population and rising demand for real-time monitoring of athletes. Body-worn sensors, which can provide real-time continuous measurement of pertinent physiological parameters noninvasively and comfortably for extended periods, are crucial for emerging mobile medicine applications. Smart sportswear help athletes to know more about their bodies and connect with their trainers.
The geographic analysis of the stretchable electronics market has been done for North America, Europe, Asia-Pacific, the rest of the world. North America has dominated the stretchable electronics market in 2019 and is expected to reach USD 1,278.72 million in 2026, with the highest CAGR of 27.47%. The regions of Asia-Pacific and Europe are also expected to witness significant growth over the forecast period.
In North America, the US accounted for the largest market share in 2019. The US is the dominating country in the region. The growing popularity of smart apparel and surging demand for conformal healthcare devices for effective health monitoring is expected to accelerate the stretchable electronics market in the country. Europe is expected to register steady growth in the stretchable electronics market during the forecast period owing to due to the surging awareness of wearable gadgets for gaming applications. The region, by country, has been segmented into the UK, Germany, France, and the rest of Europe. Asia-Pacific has the highest CAGR for the stretchable electronics market based on the region due growing investments by key market players operating in this region significantly contribute to market growth. Furthermore, the increasing miniaturization of electronic components in smartphones, healthcare electronics, and smart wearables in the region stimulates market growth. The increasing demand for next-generation electronic devices for healthcare applications in China has played a vital role in the growth of the stretchable electronics market. Furthermore, Furthermore, the South Korean government has been funding the R&D efforts in the field of stretchable electronics and actively promotes companies that are working on building upon existing domestic infrastructure to promote industrial growth. The rest of the world held the fourth position in terms of market share in 2019. The market growth in this region is currently stagnant due to the presence of emerging economies. However, the market is expected to experience a growing trend in the future due to increasing demand for smartphones, tablets, and other electronic devices. Additionally, the growing demand for connected devices, autonomous cars, and others is also driving the growth of the stretchable electronics market. The region has been segmented into the Middle East & Africa and South America.
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Global Stretchable Electronics Market: Segmentation
The global stretchable electronics market has been segmented based on component, Applications, and region. Based on component, the global market has been segmented into Electroactive Polymer, Stretchable Batteries, Stretchable Conductor, Photovoltaics, and Stretchable Circuit. By applications, the market has been segmented into Consumer Electronics, Automotive, Aerospace & Defense, Healthcare, and others.
The key players of the global stretchable electronics market are PARC (U.S), Cambrios (U.S), PowerFilm (U.S), Koninklijke Philips N.V (Netherlands), Apple Inc, (U.S.), Adidas AG (Germany), 3M Company (U.S), Palo Alto Research Center Incorporated (US), DuPont (U.S), BodyMedia (U.S), Physical Optics Corporation (U.S) IDUN Technologies Ltd (Switzerland), and MC10 (U.S) among others.
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