Organic Electronics Market Analysis 2024-2033: Market Size, Expected Growth Rate, And Leading Regions As Per The Business Research Company's Organic Electronics Global Market Report 2024
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LONDON, Jan. 09, 2024 (GLOBE NEWSWIRE) -- As per The Business Research Company’s organic electronics global market report 2024, the organic electronics market has experienced remarkable growth in recent years, with the market size skyrocketing from $51.09 billion in 2023 to a projected $61.85 billion in 2024. This surge is underpinned by a staggering Compound Annual Growth Rate (CAGR) of 21.1%. The historic period's growth can be attributed to key factors such as energy efficiency, substantial investments in research and development, low manufacturing costs, and the utilization of flexible and lightweight materials.
Projected Growth
Anticipating an even more robust trajectory, the organic electronics market is poised for rapid expansion in the coming years. Projections indicate a growth to $124.01 billion by 2028, with a CAGR of 19.0%. The forecasted organic electronics market growth is fueled by advanced materials development, the rise of biocompatible electronics, increasing applications in the Internet of Things (IoT), and the advent of foldable displays.
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Emerging Trends
The forecast period brings forth major trends shaping the organic electronics landscape, including the integration of artificial intelligence (AI) and machine learning (ML), digital health innovations, smart packaging solutions, and the widespread adoption of RFID and sensor technologies.
Industry Leaders
Key players in the organic electronics market include BASF SE, Sony Group Corporation, Sumitomo Corporation, and Panasonic Corporation. These industry giants are joined by other major contributors like Heraeus Holding GmbH, Samsung Display, Toshiba Corporation, and BOE Technology Group Co. Ltd. Companies such as Merck KGaA, Fujifilm Corporation, and LG Display Co. Ltd. are also actively contributing to the market's growth.
Technological Advancements
In an era of continuous innovation, major companies operating in the organic electronics market are focusing on groundbreaking technological products, such as flexible Organic Light-Emitting Diode (OLED). For instance, Merck KGaA introduced new barrier materials in May 2023, utilizing low-temperature plasma-enhanced atomic layer deposition (PE-ALD) technology. This innovation enhances the flexibility, reliability, and longevity of flexible OLED devices, catering to stringent automotive criteria and driving market growth.
Regional Dominance
As of 2023, Asia-Pacific stands as the largest region in the organic electronics market, showcasing the global and diverse nature of the industry's growth.
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Market Segmentation
The organic electronics market, as outlined in this report, is segmented based on:
- Material: Semiconductor, Conductive, Dielectric, Substrate
- Application: Display, Lighting, Battery, Conductive Ink, Other Applications
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End User: Consumer Electronics, Healthcare, Automotive, Energy, Aerospace And Defense, Other End Users
In conclusion, the Organic Electronics Global Market Report 2023 paints a vibrant picture of growth and innovation. Industry players can leverage this comprehensive organic electronics market report to navigate evolving trends, identify emerging opportunities, and strategically position themselves for success in this dynamic market.
Organic Electronics Global Market Report 2024 by The Business Research Company provides insights on the organic electronics market size, organic electronics market segments, organic electronics market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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