According to MarketsandMarkets’ report, “Printed Electronics Market by Material (Inks and Substrates), Technology (Inkjet, Screen, Gravure, and Flexographic), Device (Sensors, Displays, Batteries, RFID tags, Lighting solutions/panels, and PV Cells), Industry, and Geography-Global Forecast to 2023,” the printed electronics market is estimated to reach $13.6 billion by 2023 from $6.8 billion in 2018 in 2018, at a CAGR of 14.92% during 2018–2023.
 
Major drivers for market growth are the rise in applications of printed electronics in IoT and significant cost advantages provided by printed electronics. The major factor restraining the market growth is the dearth of technical know-how and highly skilled system integrators.
 
Screen printing is mostly used in commercialized and traditional devices requiring thin printed lines such as consumer electronic devices (displays of smartphones and laptops), sensors, and photovoltaic cells (PVs). Displays, sensors and PVs hold a larger share of the printed electronics industry and also fuel the demand for screen printing. The screen printing technique is mostly used in large-scale devices with high-volume production requirement.
 
Printed displays are mainly used in consumer electronic products such as wearables and mobile devices. Increasing proliferation of lightweight, innovative and flexible displays in consumer electronic devices are fueling the demand for printed displays. Rising demand for connected and IoT devices in the consumer electronics industry is also propelling the growth of the printed display market.
 
Printed electronics technology is already well adopted in the automotive industry as this industry is one of the first large-scale industries to acknowledge and utilize the potential of printed electronics. Sensors or dimming elements in lighting panels and OLED displays are the prominent applications of printed electronics in the automotive industry.