Growing demand for smart wearable devices and stretchable and conformal electronics are likely to find growing application in consumer electronics globally. In addition, rapid development in improved functionality, sensor technology, miniaturization, better performance, and intelligence in electronics devices are projected to boost the global stretchable and conformal electronics market.
Wearable devices for monitoring health and other medical uses require flexible, stretchable, and conformal electronics. Conformal skin patches, for example, are used to monitor heart activities and these electronics have further enabled launching of advanced products such as OLED eye masks. Such increasing scope of applications is likely to create lucrative opportunities for manufacturers of stretchable and conformal electronics. Furthermore, rise in adoption of smart healthcare products including smart bandages, biomedical skins, and health-monitoring kits are predicted to support the expansion of the global stretchable and conformal electronics market in the healthcare sector.
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Growing demand for electronic devices, especially wearable devices that are soft, comfortable, and stretchable to a certain degree is considered a primary factor leading to the development of stretchable and conformal electronics market.
Developed Economies like U.K., Germany, and France to Push Demand in Europe
North America held the largest market share by value and is expected to witness the highest growth in the coming years. Owing to the growing demand for wearable technologies and increasing research and development by various institutions is boosting the market.
North America is a hub for developing technologies owing to increasing demand for wearable devices in the healthcare sector. Furthermore, Europe is expected to have substantial growth in the upcoming years. The U.K., Germany, and France are the leading countries in the region. This is due to a surging awareness of wearable gadgets for gaming applications.
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Asia Pacific is expected to grow at the fastest growth rate in the forthcoming years. Due to the presence of a large number of electronics and semiconductor manufacturers in the region this market is growing substantially.