Global Structural Electronics Market Size, Status And Outlook 2021-2026
MarketInsightsReports, one of the world’s prominent market research firms has released a new report on Structural Electronics Market. The report contains crucial insights on the market which will support the clients to make the right business decisions. This research will help both existing and new aspirants for Structural Electronics market to figure out and study the market needs, market size, and competition. The report talks about the competitive scenario, and the challenges for market growth, market opportunities, and the threats faced by key players during the forecast period 2021-2026.
The structural electronics market is expected to register a CAGR of 15.3% during the forecast period (2021 – 2026). Improvements in 3D technology and the rise of IoT are the factors fueling the growth of the structural electronics market. Additionally, there is an increase in the demand for lightweight, cost-effective, and compact products. Structural electronics offer these advantages, thereby augmenting their usage in a wide range of applications.
The structural electronics market is highly consolidated. The reason is that structural electronics is a highly sophisticated technology that makes it very tough for the new players to enter this market. Moreover, the top players have a major share in the market. Some of the key players include The Boeing Company, Panasonic Corporation, TactoTek Oy, Canatu Oy, Neotech AMT GmbH, Toyobo Co. Ltd, among others.
– April 2019 – B-LA and TactoTek jointly announced that they signed an agreement for B-LA to market and sell injection molded structural electronics (IMSE) solutions. This partnership brings together the leaders in their respective technology domains to advance the market for integrating electronic functionality within molded plastics.
– April 2019 – Boeing and the Australian Space Agency signed a statement of strategic intent to help advance the agencys goals to expand Australias domestic space industry.
Key Market Trends
Automotive Sector to Account for a Significant Growth
– Structural electronics include electronic components and circuits that act as load-bearing protective structures by replacing the dumb structures (such as automobile bodies) conformally placed upon them.
– The critical capability of structural electronics to reduce the weight of a product is projected to disrupt the automotive sector. Structural electronics is expected to be next important thing in smart cars, as the elements of structural electronics would be integrated within the vehicle’s body and undercarriage for resembling the human nervous system and enabling cars to instantly recognize touch and damage.
– In addition, in the future, hybrid/electric cars are expected to use structural electronics, with printed OLED (organic light emitting diode) incorporated inside and outside the car roof.
– Moreover, the boom in automobile production across the world with adaption to new technology has brought in changes. Lightweight and compact parts are expected to witness significant demands because of structural electronics over the forecast period.
– However, the global coronavirus outbreak has led to a mass shortage of automobile supply parts which has brought the production process to a major halt. Hence, this may hinder the market growth in the near future.
North America to Account for the Largest Share in Structural Electronics Market
– North Americas robust financial position enables it to invest heavily in advanced solutions and technologies. The higher penetration of structural electronics in the region can be attributed to the high adoption of such products in conductors, photovoltaic products, and sensors that are used in high-end cars and space vehicles.
– Structural electronics has shown tremendous progress in the United States, and is supported by vast R&D activities. For instance, in order to drive the technology that couples flexible substrates, printed circuits, and thinned silicon die, NextFlex research center has been formed with about USD 165 million in private and public backing.
– Moreover, primarily electric vehicles utilize structural electronics. This factor is expected to propel the growth of the market studied, as the North Americans are increasingly adopting electric cars.
– In addition, the increasing usage of IOT and 3D technology across various industries is projected to fuel the demand for structural electronics over the forecast period.
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What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluates key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: The Global Structural Electronics Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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How we have factored the effect of Covid-19 in our report:
All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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