Transparent Electronics - Global Market Review & Outlook (2019-2024) – IMARCGroup.com
The global transparent electronics market has witnessed a positive growth over the past few years. This can be attributed to the numerous advantages and emerging applications of transparent electronics along with the introduction of innovative products by manufacturers.
According to the latest report by IMARC Group, titled “Transparent Electronics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global transparent electronics market reached a value of US$ 797 Million in 2018. Transparent electronics is an emerging form of technology which focuses on the manufacturing of invisible electronic circuits and optoelectronic devices. Transparent Conducting Oxides (TCOs) and Thin Film Transistors (TFTs) are used in the production of transparent electronics. The progressions in transparent electronics technology are mainly dependent on advancements in manufacturing processes and material sciences. Transparent electronics offer various advantages over conventional electronics, such as lower processing temperature; strong performance, mobility and flexibility; high voltage gain; heat dissipation; and radiation tolerances. Owing to these characteristics, they are being utilized in consumer electronic products and new energy sources such as next-generation televisions, mobiles, computers and solar panels.
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Market Trends:
There have been significant advancements in the materials and designs of transparent electronics along with the introduction of innovative processing methods. For instance, the development of new ceramic thin films containing multi-component oxides has enabled the manufacturers to use them in both rigid and flexible transparent electronics. Apart from this, technological innovations have presented new application areas of transparent electronics including transparent solar cells, navigation display for military equipment and OLED displays. Circuits built from ultrathin, single crystal silicon are also being used in the medical field. Moreover, the governments of numerous nations are encouraging the leading transparent electronics manufacturers to focus on commercializing cost-effective green solutions. As a result of these factors, the global transparent electronics market size is projected to reach a value of US$ 3,814 Million by 2024, expanding at a CAGR of 29.8% during 2019-2024.
Market Summary:
- Based on product type, the report finds that transparent displays are the most popular type of transparent electronics, holding the largest market share. Transparent displays are followed by transparent solar panels and windows.
- On the basis of applications, the market has been segregated into consumer electronics, automotive, construction, healthcare, military and defense and security systems. Currently, consumer electronics represent the biggest application segment, accounting for the majority of the global share.
- Region-wise, North America enjoys the leading position in the global transparent electronics market. Other major markets include Asia Pacific, Europe, Middle East and Africa, and Latin America.
- The competitive landscape of the global transparent electronics market has also been examined with some of the key players being BOE Technology Group Co., Brite Solar, Cambrios Technologies Corporation, ClearLED Ltd., Corning Incorporated, Glass Apps, LLC, LG Electronics Inc., OLEDWorks, Raven Window, Shenzhen AuroLED Technology Co., Ltd., Shenzhen NEXNOVO Technology Co., Ltd., SolarWindow Technologies, Inc., Street Communication and Ubiquitous Energy.
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