The market for global organic polymer electronics is expected to register a CAGR of 22.3% during the forecast period (2019-2024). The demand for flexible electronic goods is required in healthcare, and government sectors. For instance, medical industry is embracing organic polymer while suggesting health and fitness tracking bands to patients for measuring heart rates, blood pressure, glucose levels and pulse.
- With advancements in wearable technology, proliferating wearable devices are being programmed to interact with the bodies and collect data, for instance, Dog Collars for pets acting as a GPS Tracker. The flexible displays make sure that wearables are thin, light, robust, and comfortable for the user.
- OLED microdisplays are being adopted in augmented and virtual devices, where users can experience much more realistic and lively images with faster response time, richer color, and higher contrast ratio, as compared to other microdisplays.
- However, non-compatibility with conventional electronic goods, lack of robustness due to small life and possible degradation under environmental influences are the major reasons that hinder the growth of the market.
Scope of the Report
Organic electronic devices are likely to become a low-cost alternative to the traditional inorganic electronic applications, due to low material utilization (use of materials that are synthesized, rather than mined from the earth) and simple processing. They find their uses in applications like aerospace, display manufacturing, lighting due to expanding functionality and accessibility of electronics, which traditional silicon-based electronics cannot do.
Key Market Trends
Head Mounted Displays to Witness Huge Demand
- Head-Mounted Displays used for augmented and virtual reality have organic light emitting diodes as a crucial part.
- Training of all types is the most important potential use of AR/VR. Navy researchers are integrating AR technology into head mounted displays (HMD) to effectively provide ground deployed troops with the technology utilized by pilots.
- In June 2018, Spex, a division of Toronto-based wearable medical device developer eSight, released a new hardware and software platform intended to combine the best current augmented reality (AR) and virtual reality (VR) features in a head-mounted device that can be worn all day.
- HMDs are not only used in virtual reality gaming, but they've also been utilized in military, medical and engineering contexts to name a few. In March 2019, Valve launched a teaser site featuring a brand-new virtual reality headset, called the Valve Index. It has inside-out tracking to allow players to move around a room without worrying about placing base stations or external tracking cameras.
North America to Witness the Highest Growth in Organic Polymer Electronics Market
- High technology exposure and easy availability of devices have created a strong market for smart devices in North America. Most of the companies advancing in this technology are based in the United States. Leading players, like Microsoft and Magic Leap, are actively working on this technology, using the United States as their base.
- When it comes to augmented reality (AR) & mixed reality (MR), US is expected to be one of the fastest-growing markets in the world. For instance, Microsoft Hololenes 2 was released in Mobile World Congress in February 2019.
- In May 2018, at SharePoint Conference North America, Microsoft launched SharePoint Spaces, a feature that allows companies to create immersive worlds for viewing data and documents within SharePoint.
The Organic Polymer Electronics Market is fairly concentrated due to high entry barriers and huge initial investments. Some of the recent developments in the market are -
- May 2019 - Merck KGaA acquired Intermolecular, Inc. for USD 1.20 per share in an all-cash transaction. Intermolecular's capabilities in rapid material screening, in combination with the R&D pipeline of Merck KGaA is expected to foster materials innovation.
- December 2018 - The GoSafe S810 by Papago has been announced as one of the best dash camera released in 2018 on G-Style Magazine.
- April 2018 - FlexEnable Ltd. received USD 3 million in equity funding from Novares Group as part of a venture into sensors and automotive applications.
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