Market Trends of Structural Electronics Industry
This section covers the major market trends shaping the Structural Electronics Market according to our research experts:
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.
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North America to Account for the Largest Share in Structural Electronics Market
- North America’s 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 issupported by vast R&D activities. For instance, in orderto drive the technology that couples flexible substrates, printed circuits, and thinned silicon die, NextFlex research center hasbeen formed with about USD 165 million in private and public backing.
- Moreover, primarily electric vehicles utilizestructural 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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