Market Trends of 3D Electronics Industry
This section covers the major market trends shaping the 3D Electronics Market according to our research experts:
Growing Relevance of 3D Printed Electronics
- 3D printed electronics is a new program that allows electronics to be integrated within or on top of devices. The concept of 3D printing was primarily applied to the exterior of 3D injection-molded synthetic products to add antennas and simple conductive interconnects. With technological advancements in the market for 3D printed electronics, materials and processes to build parts' internal complex circuitry can be created from various materials with new techniques. Customization can be a significant asset in the additive manufacturing process in production for building parts that are completely tailored to a circuit board or any computerized equipment.
- The demand for smaller, thinner machines with advanced functionality is insatiable. However, difficult tasks, such as designing a PCB or printed circuit board and its components, are typically outsourced, resulting in a longer wait time. With 3D printing, it is now possible to create in-house prototypes of circuits and circuit boards, reducing costs, time, and concerns about intellectual property violations. Manufacturers' increasing efficiency and productivity and lower material prices are expected to drive the global 3D printed electronics market during the forecast period.
- Despite being a relative innovation, 3D printing in electronics is already impacting. As a result, this durable manufacturing technique will revolutionize electronic development and prototyping.
- Additive manufacturing processes in the electronics industry have finally become scalable and can be integrated alongside other manufacturing assets. These technologies are expected to drive several significant trends in the electronics manufacturing industry. The market for 3D printed electronics and new additive manufacturing systems will grow as the range of scalable additive manufacturing processes expands.
- In January 2022, the University of Minnesota Twin Cities (UMTC) created a fully 3D printed organic light-emitting diode (OLED) display similar to commercial televisions and smartphones.
- A variety of market drivers influence the 3D electronics market. First and foremost, smartphone and smart home penetration have a significant impact. Smartphones have the highest market revenue and are market leaders in new technologies. Further, the trend toward a smart and connected home is constantly making vendors to introduces new devices to the market, driving otherwise stagnant sales. Therefore the growing adoption of smart homes is also anticipated to propel the growth of 3D electronics over the forecast period.
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North America will Dominate the Market
- North America is expected to maintain its dominant position in the global market during the forecast period. The United States and Canada are the major contributors to the significant expansion of different manufacturing industries due to the presence of prominent manufacturers, which is estimated to boost the demand for electronics technology in North America. The growing usage of 3D printing techniques across various end-use markets, including aerospace & military, telecom, automotive, and others, is anticipated to fuel the region's expansion.
- With the existence of big firms and increasing acceptance of 3D printing for speedy design validation and production advantage, the United States led the North American 3D manufactured electronics industry. Developments in 3D printed, electronic elements for aerospace and defense are soaring, driving the market expansion in the area as the use of 3D manufactured electronics in the aerospace defense sector enhances productivity and quality, lowers production costs, expedites the process, and renders innovative & complicated designs possible.
- Moreover, the region is anticipated to lead the global 3D electronics market due to increased demand for such electronics in the automotive, marine white goods, and medical device sectors to create intelligent surfaces within their products. For instance, in February 2022, the U.S. Navy, in order to increase supply, unveiled a proposal to team up with vendors who are unable to keep up with the need for submarine components with 3D printing electronics businesses.
- Additionally, around 13.43 million motor vehicles were produced in North America in 2021. Vehicle production is a crucial element of the North American economy. Like many other manufacturing segments in the region, vehicle production has slumped in the past few years due to increased costs of production, changes in supply chains, and stoppages related to the onset of the coronavirus pandemic. The automotive industry also showcases the significant potential for the adoption of 3D printed circuit boards as well as other electronics, enabling engineers to quickly test the system and reduce time-to-market.
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