According to the latest market research 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 are one of the emerging technologies which help in producing invisible electronic circuits and optoelectronic devices. Transparent Conducting Oxides (TCOs), as well as Thin Film Transistors (TFTs), are employed in the production of these electronic components. In comparison with conventional electronics, transparent electronics offer numerous advantages such as reliable performance, mobility and flexibility, high voltage gain, heat dissipation, radiation tolerances and lower processing temperature. As a result, they are widely being used in consumer electronic products and new energy sources including mobiles, computers, solar panels and next-generation televisions.
On account of technological advancements, transparent electronic products find vast applications in transparent solar cells, OLED displays and navigation display of military equipment. Apart from this, manufacturers are introducing innovative processing methods and numerous advancements in materials and designs to expand their consumer base. For instance, the development of new ceramic thin films containing multi-component oxides has enabled manufacturers to use them in both rigid and flexible transparent electronics. Similarly, circuits built from ultrathin and single crystal silicon are being employed in the medical industry. Apart from this, the governments in numerous countries are encouraging leading transparent electronics manufacturers to focus on commercializing cost-effective green solutions which is anticipated to strengthen the market growth. By 2024, the transparent electronics market size is projected to reach a value of US$ 3,814 Million, expanding at a CAGR of 29.8% during 2019-2024.
- Based on product types, the market has been segmented into transparent displays, solar panels and windows. Currently, transparent displays represent the most popular type of transparent electronics.
- On the basis of applications, the market has been classified into consumer electronics, automotive, construction, healthcare, military and defense, security systems and others. At present, consumer electronics exhibit dominance in the global market.
- Region-wise, the market has been segmented into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. Amongst these, North America is the biggest market, accounting for the majority of the market share.
- The competitive landscape of the 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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