According to a recent report published by Allied Market Research, titled, “Organic Electronics Market by Material, and Application: Opportunity Analysis and Industry Forecast, 2020-2027,” the global organic electronics industry size was valued at $46.12 billion in 2019, and is projected to reach $159.11 billion by 2027, growing at a CAGR of 21% from 2020 to 2027.
In 2019, Asia-Pacific dominated the organic electronic market share among all analyzed regions, contributing more than a 40% share of the overall revenue. The adoption of organic electronics in various industries has fueled the Organic electronic market growth. Moreover, key players are continuously taking efforts to improve this technology and its applications in industries.
Factors such as an increase in demand due to the adoption of technologies supporting sustainable development, demand for various applications, and need for organic electronics in the latest technologies are expected to boost the adoption of organic electronics.
Presently, the global Organic electronic market growth is driven by the display segment, owing to the high demand for advanced image quality.
Moreover, the display segment offers lucrative opportunities due to increased funding for the development of flexible displays in these sectors.
As per the analysis, the COVID-19 pandemic has impacted the organic electronic market due to disruptions in supply chains. Further, lockdowns, travel restrictions and infection awareness among the people have hampered the market demand and slowed down the process of advancement. However, the organic electronics market is expected to pick its pace by 2021.
Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific was the highest revenue generator in 2019, accounting for $18.96 billion, and is estimated to garner $69.05 billion by 2027, growing at a CAGR of 21.9%.
