3D printed electronics is an emerging program that allows electronics to be integrated within or over the surface of gadgets. The concept of 3D printing was primarily used to add antennas and simple conductive interconnects to the exterior of 3D injection-molded synthetic products. With technological advancements in the 3D printed electronics market, the creation of materials and processes to build parts’ internal complex circuitry can be created from a variety of materials with new techniques. In the additive manufacturing process in production, customization can be a big asset to build parts utterly adjusted to a circuit board or any computerized equipment.

The electronics industry has been competitive since the beginning. The demand for tinier, thinner machines with advanced functionality is never-ending. However, challenging jobs such as creating an archetype of a PCB or printed circuit board and parts are mostly outsourced, resulting in a longer wait time. The advent of 3D printing has allowed the creation of in-house prototypes of circuits and circuit boards, reducing the expense, time, and concerns about intellectual property violations. The increasing efficiency and productivity of manufacturers as well as reduced material costs are anticipated to drive the global 3D printed electronics market during the forecast period.

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Market Likely to Witness Heavy Demand for 3D Printing for Flexible Displays, Wearables

Major electronic devices such as smartphones and cameras consist of elements such as sensors and antennas that are manufactured using 3D printing. The miniature components that are required in wearable devices that have space constraints can also be produced by 3D printing. The use of the 3D printed electronic device improves the competence and productivity of manufacturers as well as translates to cost saving in terms of material. 3D printed electronics are trending due to their uses in most demanded electronics such as TVs with a curved and flexible display. As the cost involved in producing displays are higher, TV manufacturers are more likely to offer LCD TVs compared with large OLED screens. However, 3D printed devices such as OLED and EPD-based flexible display are in demand due to their flexible display properties and better viewing angles. Hence, the 3D printed electronics market is anticipated to grow during the near future.

More people are obtaining reliable technology and electronic devices. User consciousness about the advantages of using flexible electronics in various applications is giving the required boost to the global market. Moreover, 3D printed electronics can efficiently help in producing energy-efficient products with better performance and cost-effective production. The use of compact displays in various applications such as vehicles, kiosks, laptops, tablets, and e-book readers has fueled the growth of the 3D printed electronics market. Furthermore, chemicals used in 3D printing have minimal influence on the environment. Rising awareness for the environment and eco-friendly product trends are anticipated to drive the global market during the forecast period.

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Asia Pacific to Dominate Global Market

The expansion of 3D printed electronics applications in sectors such as automotive, aerospace, defense, and consumer electronics is assuring the rise of the 3D printed electronics market due to changing lifestyle trends and growing need for cost-efficient alternatives to conventional manufacturing. The automotive sector is broadly using 3D printing and expected to dominate the market at a CAGR of 31.67% during the forecast period. Moreover, the growing usage of electronic devices in automotive components is propelling the 3D printed electronics market. With various factors influencing the global 3D printed electronics market, it is anticipated to reach the value of US$ 6 Bn by 2031, developing at an outstanding CAGR of 31.26% during the forecast period.

The burgeoning presence of major companies across the world and emerging economies with competitive strategies are helping to boost global market growth. Across all regions, the 3D printed electronics market in Asia Pacific is likely to expand at a significant rate during the forecast period. This is mostly due to the increasing applications of 3D printed electronics in various sectors, and the presence of major business players designing and producing 3D printed electronics hardware and software in the APAC. The Asia Pacific is followed by Europe and North America. Furthermore, due to the presence of leading players in the U.S., the North America 3D printed electronics market is anticipated to grow significantly during the forecast period.

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Ongoing COVID-19 Pandemic to Create Barriers in Future for Global Market

The ongoing COVID-19 pandemic has led to nationwide lockdown in major countries that have affected several industries such as automotive, aviation, consumer electronics, and pharmaceuticals. There is a huge deficit of electronic tools and instruments, and decreasing stock market prices has affected the healthcare industry and expected to have a negative impact on the global market. Moreover, financial policies in developing nations are likely to fail to stop a high spike in unemployment and business cessations, which can lead to slow growth after the pandemic period.

The current 3D printing machine can only print one object at a time. Thus, the production of large units can be a major challenge for the market. However, working on one object at a time can allow maximum potential for customization of the product. Moreover, the information gap among various disciplines involved in the advancement of printed electronics is expected to hinder the growth of the 3D printed electronics market. The rising investments in research and development and increasing developments in the Internet of Things technology are most likely to overcome the restraints and challenges influencing the demand for 3D printed electronics. Other factors such as rising efficiency and productivity of manufacturers and expansion of the consumer electronics market in several regions are contributing to the growth of the 3D printed electronics market.

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