DUBLIN -- The global stretchable electronics market is expected to rise at a CAGR of about 105% from 2016 to 2023, a new report asserts.
Increasing consumer electronics industry and increasing demand for small sized electronic products are the factors boosting the growth of the global stretchable electronics market, says Research and Markets. Also, increased utilization of solar cells and increasing demand for wearable communication device, bio integrated circuits and robotic sensory skin are fueling growth in the global stretched electronics market. However, time consuming and laborious manufacturing process of stretchable electronics and lack of innovative and new devices are the factors responsible to restrain the growth of the global stretchable electronics market.
Geographically, North America accounted for the highest revenue share in 2016. The region is expected to witness the highest growth in the field of stretchable electronics market with the adoption of new technologies. The main driving factor behind the growth of stretchable electronics market in North America is adoption of advanced technologies by the market players present in the region and growing usage of stretchable electronics in various applications such as consumer products, healthcare, aerospace, telecom etc.
Also, most of the R&D activities are responsible for the growth of stretchable electronics market in North America during the forecast period. Additionally, Asia Pacific and Europe are also promising markets for stretchable electronics due to presence of emerging countries such as Germany, UK, China and India.
Growth in global stretchable electronics market is also influenced by the presence of major players such as 3M, Physical Optics, Dupont, Bodymedia, PARC, Cambrios, Power Film and MC 10.
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