Pune, India -- (SBWIRE) -- 08/10/2016 -- The printed sensors market was valued at USD 6.71 Billion in 2015 and is expected to reach USD 10.46 Billion by 2022, at a CAGR of 7.0% between 2016 and 2022. The growth of this market is propelled by the advantages offered by printed sensors over conventional silicon-based sensors. Unlike the conventional sensor technology, printed sensors are flexible, thin, lightweight, and organic. The disadvantages of conventional sensors such as rigidity, bulkiness, and complex architecture among others are largely overcome by printed sensors. Thus, the demand for printed sensors is expected to grow significantly in the near future.

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Printed biosensors expected to lead the market

The large market share of printed biosensors is attributed to the high demand for glucose test strips which are used for diabetes monitoring and are the most matured type of printed sensors. Moreover, the rapid technological advancements, growing demand for glucose monitoring in diabetic patients, and rising demand for home-based point-of-care devices are the significant growth drivers for the printed biosensors market. In addition to this, the growing integration of biosensors in consumer electronics and environmental monitoring applications also contributes to the large market share of the printed biosensors market.

Smart packaging application is expected to grow at a high rate

Printed sensors play a major role in smart packaging as they help manufacturers to keep track of their inventories. They are also used to monitor temperature, humidity, and gas for sensitive products, especially food and beverages. Moreover, given the rise in the adoption of smart packaging across the globe to increase the visibility, hygiene, quality, and safety of the product, there is a demand for printed sensors.

Europe held the largest market share in 2015

Europe is expected to hold the largest market share and dominate the printed sensors market owing to the funding granted by the European Union which motivates collaborations between academia and the industry by funding associated projects for the development of various printed sensors. Some of the projects funded by the European Union are Smart Integrated Miniaturized Sensor Systems (SIMS), Roll-to-Roll Paper Sensors (ROPAS) project, FlexSmell project, and 3PLAST project among others. Moreover, the major printed sensor manufacturers, such as ISORG (France), Thin Film Electronics ASA (Norway), Peratech Holdco Ltd (U.K.), and Canatu Oy (Finland) among others, based in various countries in the European region are actively involved in new product launches, acquisitions, and partnerships to expand their market reach.

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Major players in this market include Interlink Electronics, Inc. (U.S.), Thin Film Electronics ASA (Norway), ISORG (France), Peratech Holdco Ltd (U.K.), and KWJ Engineering Inc., (U.S.), GSI Technologies, LLC (U.S.), Canatu Oy (Finland), MC10, Inc. (U.S.), PolyIC GmbH & Co. KG (Germany), PST Sensors (South Africa), and Tekscan, Inc. (U.S.).

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