PUBLISHER: The Business Research Company | PRODUCT CODE: 1415716
PUBLISHER: The Business Research Company | PRODUCT CODE: 1415716
“Organic Electronics Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on organic electronics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for organic electronics? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The organic electronics market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Organic electronics is a field of materials science focused on utilizing organic materials with desirable electrical properties. Organic polymers and small molecules are employed in the construction of electronic components for a wide range of innovative applications.
The primary categories of materials in organic electronics encompass semiconductors, conductive substances, dielectrics, and substrates. Semiconductors denote materials whose conductivity falls between that of insulators and conductors, often seen in metals or most ceramics. These find applications in various sectors, including consumer electronics, healthcare, energy, aerospace and defense, among others.
The organic electronics market research report is one of a series of new reports from The Business Research Company that provides organic electronics market statistics, including organic electronics industry global market size, regional shares, competitors with an organic electronics market share, detailed organic electronics market segments, market trends and opportunities and any further data you may need to thrive in the organic electronics industry. This organic electronics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The organic electronics market size has grown exponentially in recent years. It will grow from $51.09 billion in 2023 to $61.85 billion in 2024 at a compound annual growth rate (CAGR) of 21.1%. The growth in the historic period can be attributed to energy efficiency, investment in research and development, low manufacturing costs, flexible and lightweight materials.
The organic electronics market size is expected to see rapid growth in the next few years. It will grow to $124.01 billion in 2028 at a compound annual growth rate (CAGR) of 19.0%. The growth in the forecast period can be attributed to advanced materials development, biocompatible electronics growth, internet of things (IOT) applications, foldable displays. Major trends in the forecast period include artificial intelligence (AI) and machine learning (ML), digital health innovations, smart packaging, RFID and sensor technologies.
The increasing adoption of high-end smartphones is anticipated to drive the expansion of the organic electronics market in the coming years. High-end smartphones are advanced mobile devices that integrate the functionalities of a cell phone and a personal computer. Organic electronic devices possess flexibility and conformability, making them well-suited for applications in smart electronics like foldable smartphones and wearable devices. These materials offer various advantages over conventional inorganic electronics, including flexibility, lightweight nature, and energy efficiency. For instance, as of February 2023, Uswitch Limited, a UK-based financial conduct authority, reported a 3.8% increase (approximately 2.6 million) in mobile connections in the UK from 2021 to 2022, totaling 71.8 million. It is projected that by 2025, the UK population will grow to 68.3 million, with around 65 million individuals (95% of the population) owning a smartphone. Hence, the surge in demand for high-end smartphones is a key driver for the growth of the organic electronics market.
The surge in demand for wearable devices is anticipated to drive the growth of the organic electronics market in the foreseeable future. Wearable devices are small electronic gadgets designed to be worn on the body, often equipped with sensors and connectivity features for various functions. Organic electronics play a crucial role in wearable devices by enabling the creation of flexible and lightweight components. This enhances comfort and wearability while maintaining electronic functionality. For instance, as of November 2022, Vicert, a US-based digital health solution software company, reported the shipment of 533.6 million wearable devices in 2021. This category includes watches, hearing aids, and other assistive devices. Hence, the increasing adoption of wearable devices is a significant driver for the growth of the organic electronics market.
The organic electronics industry is facing a challenge due to the limited availability of skilled professionals. This scarcity of qualified experts in organic semiconductor materials and their applications and development is acting as a significant constraint in the organic electronics market. For instance, as of September 2023, the U.S. Bureau of Labor Statistics, a US-based government agency, reported an increase in technology-related unemployment, mirroring the overall rise in US unemployment from 3.5% in July to 3.8% in August. This led to an additional 514,000 unemployed individuals, bringing the total to 6.4 million. Therefore, the shortage of skilled professionals is impeding the growth of the organic electronics market in the foreseeable future.
Major players in the organic electronics market are dedicated to pushing the boundaries of technology, exemplified by advancements like flexible OLED. This innovative technology, based on a flexible polyimide substrate, is a variation of OLED (organic light-emitting diode) technology. For instance, in May 2023, Merck KGaA, a prominent German science and technology company, unveiled cutting-edge barrier materials that outperform current options in terms of flexibility, reliability, and longevity for flexible OLED devices. These materials leverage low-temperature plasma-enhanced atomic layer deposition (PE-ALD) technology, enhancing thin film encapsulation. This extension of OLED lifespan meets stringent automotive standards while also boosting barrier performance and reducing costs, offering a superior solution that is set to catalyze the growth of the organic electronics market.
In June 2023, Samsung Electronics Co. Ltd., a leading South Korea-based electronics company, completed its acquisition of Cynora GmbH for a reported sum of $300 million. This strategic move is geared towards bolstering Samsung's footprint in the organic electronics sector. By integrating Cynora's innovative TADF OLED technology, Samsung aims to drive the development of new products and applications in this burgeoning market. Cynora GmbH, a distinguished manufacturer of organic electronics, is headquartered in Germany.
Major players in the organic electronics market are BASF SE, Sony Group Corporation, Sumitomo Corporation, Panasonic Corporation, Heraeus Holding GmbH, Samsung Display, Toshiba Corporation, BOE Technology Group Co. Ltd., Henkel AG and Co. KGaA, Merck KGaA, Fujifilm Corporation, Evonik Industries AG, LG Display Co. Ltd., Covestro AG, AGC Inc., Konica Minolta Inc., AUO Corporation, Osram GmbH, PolyIC GmbH and Co. KG, Sigma-Aldrich Corporation, Universal Display Corporation, Kateeva Inc., H.C. Starck High Performance Metal Solutions, Heliatek GmbH, Novaled GmbH, OLEDWorks LLC, ISORG, FlexEnable .
Asia-Pacific was the largest region in the organic electronics market in 2023. The regions covered in organic electronics report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the organic electronics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The organic electronics market consists of sales of organic light-emitting diodes (OLEDs), organic thin-film transistors (OTFTs), organic field-effect transistors (OFETs), wearable electronics, printed electronics and biodegradable electronics. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.