3D Printed Electronics Market: Introduction
Transparency Market Research delivers key insights on the global 3D printed electronics market. In terms of revenue, the global 3D printed electronics market is estimated to expand at a CAGR of ~31% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global 3D printed electronics market.
The global 3D printed electronics market is broadly affected by several factors, including increasing applications in a wide range of sectors, rising adoption of advanced technologies, and further development of the Internet of Things technology. Thus, expanding applications of 3D printed electronics in different sectors is propelling the global market.
3D Printed Electronics Market: Dynamics
The market of electronic devices comprising smartphones, wearable devices, and cameras is growing across the globe due to factors such as increasing disposable income, urbanization, and rising younger population. These devices consist of components such as sensors and antennas that are manufactured using 3D printing. This factor is influencing the growth of the 3D printed electronics market. Moreover, electronic devices such as wearable ones require miniature components due to space constraints and are manufactured using 3D printing. This increases the efficiency and productivity of manufacturers as well as translates to cost saving in terms of material.
Moreover, various manufacturers of 3D printed electronics are participating in exhibitions to promote their products due to the popularity of 3D printed electronics. For instance, in May 2018, Enfucell participated in the 9th International Conference on Flexible and Printed Electronics. This conference is hosted by Japan, Taiwan, South Korea, and China annually. Manufacturers are also providing innovative solutions to develop complex electronic components. This encourages the use of the 3D printed electronics technology. Furthermore, manufacturers are setting up education centers and workshops for 3D printing in developing economies such as China, Japan, and India. This is increasing awareness about the technology, which is fueling the market growth of 3D printed electronics.
However, a 3D printing machine prints one object at a time and does not allow for mass production. This results in the absence of economy of scale of 3D printing of electronic components. This factor may hamper the growth of the 3D printed electronics market.
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3D Printed Electronics Market: Prominent Regions
The 3D printed electronics market in North America is expected to expand during the forecast period, owing to the presence of key market players, technological advancements, and growing usage of 3D printed electronics in various applications in the region. The 3D printed electronics market in Europe is projected to witness favorable growth during the forecast period, due to rise in investments by manufacturers in the region. The Asia Pacific 3D printed electronics market is likely to expand during the forecast period, owing to the increasing usage of 3D printed electronics in consumer electronics, automotive sector, and the presence of a large number of players designing and producing 3D printed electronics hardware and software.
The ongoing COVID-19 pandemic has led to nationwide lockdown in major countries that have affected several industries such as automotive, aviation, consumer electronics, and pharmaceuticals. There is a huge deficit of electronic tools and instruments, and decreasing stock market prices has affected the healthcare industry and expected to have a negative impact on the global market. Moreover, financial policies in developing nations are likely to fail to stop a high spike in unemployment and business cessations, which can lead to slow growth after the pandemic period.
The current 3D printing machine can only print one object at a time. Thus, the production of large units can be a major challenge for the market. However, working on one object at a time can allow maximum potential for customization of the product. Moreover, the information gap among various disciplines involved in the advancement of printed electronics is expected to hinder the growth of the 3D printed electronics market. The rising investments in research and development and increasing developments in the Internet of Things technology are most likely to overcome the restraints and challenges influencing the demand for 3D printed electronics. Other factors such as rising efficiency and productivity of manufacturers and expansion of the consumer electronics market in several regions are contributing to the growth of the 3D printed electronics market.
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3D Printed Electronics Market: Key Players
Key players operating in the global 3D printed electronics market are Nano Dimension, Eastprint Incorporated, The Cubbison Company, Molex, LLC, The Charles Stark Draper Laboratory, Inc., ISORG SA, Novacentrix, Optomec Inc., Enfucell, and Pasternack Enterprises Inc.
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