Stretchable and transparent electronics markets set to grow substantially

The global stretchable electronics market is expected to rise at a CAGR of about 105% from 2016–2023, while the transparent electronics market will be a bit more conservative at 59%, according to two new reports from Occams Business Research and Consulting.

Stretchable electronics

Stretchable electronics (elastic electronics or elastic circuits) technology combines electronic devices and circuits with stretchable substrates, covering components including stretchable circuits, electroactive polymers, stretchable batteries and photovoltaics. Electronic circuits are built by depositing stretchable electronic devices and circuits on stretchable materials such as silicones or polyurethanes. Stretchable electronics technology is also used in the manufacturing of rigid printed circuit boards (PCBs).

The report ‘Global Stretchable Electronics Market Insights, Opportunity Analysis, Market Shares and Forecast, 2017 - 2023’ finds that increasing consumer electronics industry and increasing demand for small-sized electronic products are boosting the growth of the global stretchable electronics market, as are increased utilisation of solar cells and increasing demand for wearable communication devices, bio-integrated circuits and robotic sensory skin. However, time-consuming and laborious manufacturing processes, coupled with a lack of innovative and new devices, are restraining this growth.

North America accounted for the highest revenue share in 2016 and is expected to witness the highest growth in the field. The main driving factor behind this growth is the adoption of advanced technologies by the market players present in the region, such as 3M, Physical Optics Corporation, DuPont, PARC, Cambrios Technologies, PowerFilm and MC10. Asia Pacific and Europe are also promising markets for stretchable electronics due to the presence of emerging countries such as Germany, UK, China and India.

There has been growing use of stretchable electronics in applications such as consumer products, health care, aerospace, telecom, etc. Health care is expected to hold the largest market revenue during the forecast period due to increasing technological innovations and applications including sun exposure monitoring, neuroscience research, spinal surgery, etc.

Transparent electronics

‘Global Transparent Electronics Market Insights, Opportunity Analysis, Market Shares and Forecast, 2017 - 2023’ covers transparent or invisible electronics and optoelectronic devices, with example products including transparent displays, windows and solar panels. Among these segments, the transparent display market has the highest grossing revenue share due to the increasing demand for transparent phones and fitness devices, which are not only stylish but also provide an interface between the device and the surrounding environment.

The report finds that there has been a large demand for transparent electronics in recent years, fuelled by the increasing use of touch-enabled devices such as smartphones, laptops, tablets, etc and the integration of transparent electronics with other devices such as optoelectronic devices and circuits. Due to the emergence of nanotechnology, market revenue for transparent electronics has already reached $325 billion and is expected to hit $2 billion by 2023.

North America has the largest revenue share in the market, with the majority of the key market players — Apple, Cambrios Technologies, Corning and 3M — currently situated in the US. One of the key reasons driving the growth in North America is the large number of touch-enabled devices being used by Americans, with about 95% of Americans having access to some kind of touch-enabled device, according to Pew Internet.

Applications of transparent electronics include electronics appliances, media and entertainment, architecture, health and surgical, military and defence, UV detectors, etc. As above, transparent electronics have been found to have particularly large demand in the healthcare sector as they are used in anaesthetics and surgical instruments.

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