RFID Expected to be Biggest Growth Area in Global Organic Electronics Market of $80 Billion Through 2020
According to a new study by Allied Market Research titled, “Global Organic Electronics Market – Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2013 – 2020,” that includes organic RFID, highlights the global organic electronics (OE) market is expected to reach approximately $80 billion by the year 2020, registering a CAGR of 29.5% during 2014 – 2020. Organic displays are the largest revenue source for the organic electronics market, accounting to nearly two-thirds of the market. OLED displays, which find application in laptops, tablets and TV sets, hold a lion’s share in the global organic electronics displays market. Asia Pacific generates about 63.5% of the revenue for the global market due to the fact that Asia Pacific is home for almost 3/4ths of the global electronics manufacturing industry, which is the primary application area for organic electronics.
Organic RFID (also called ORFID) holds just about 2% of the worldwide market due to its limited application in the current market conditions. Contrary to the current market scenario, ORFID is anticipated to witness tremendous growth through 2020, and would outpace any other application area. Key factor for such remarkable growth is attributed to its ability to substitute silicon based RFID. ORFID would be a cost effective option for tags, as the materials and manufacturing costs would lower over the period of time.
Some key findings of the report include:
Global market for organic electronics gaining traction with displays, ORFID and Lighting to provide major growth thrust during the forecast period (2014 – 2020)
ORFID segment will grow at a CAGR of 48.1% during the forecast period, fastest among all
Europe would be one of the lucrative markets, both in terms of size and growth. Europe would reach $9.6 billion by 2020, with fastest CAGR of 35.9%
System components will compose second largest segment for organic electronics in 2020, much exceeding photovoltaic segment. The system component would generate about 20% of the global OE market revenue in 2020