IDTechEx has released a new report that predicts that the overall market for printed and flexible sensors will climb to $4.5 billion in the next ten years. Much of that growth will be attributed to the growing demand for hybrid sensors, which will jump from a market worth less than $1 million in 2020 to one worth approximately $800 million by 2030.
The report goes on to break down the market based on different types of sensors. IDTechEx argues that hybrid sensors will be more popular than fully organic photodetectors (OPD), largely because current sensors already perform many of the functions (such as fingerprint authentication) that the OPDs would potentially fulfill. Hybrid sensors, on the other hand, are more sensitive to light, and have potentially lucrative applications in driver assist systems and self-driving cars.
Other types of sensors covered in the report include pressure sensors, transparent sensors, and wearable electrodes. According to IDTechEx, the pressure sensor market is relatively mature, but many companies are nevertheless searching for more lucrative applications of the technology. Meanwhile, the growing interest in foldable screens is driving innovation on the transparency front. The ITO technology in modern capacitive touch screens is too brittle for flexible displays, so manufacturers are searching for a more durable replacement.
Wearable electrodes, on the other hand, offer more obvious market opportunities. IDTechEx believes that there will be considerable demand for more comfortable wearables in the healthcare industry, where real-time biometric monitoring should lead to better patient outcomes. The research firm also notes that manufacturers can usually command a higher price for medical technology than they can for consumer lifestyle and wellness devices.
Allied Market Research has previously predicted that the global biometric sensor market will be worth $1.92 billion by 2025, while a separate IDTechEx report suggests that the far-field voice recognition market will hit $15.5 billion by 2029.
(Originally posted on FindBiometrics)