NEW YORK, July 16, 2015 /PRNewswire/ -- The stretchable electronics market is still in its nascent stage as very few products have been commercialized such as CHECKLIGHT by Reebok, while many products are expected to get commercialized by 2018 and 2019. This technology is capable of converting rigid electric components and devices into a stretchable and wearable form. The global stretchable electronics market is expected to reach $911.37 million by 2023, at a CAGR of 96.6% between 2015 and 2023. In terms of geography, North America accounted for the major market share of ~40% in 2014 as most of the research & development activities are going on in the U.S., followed by Europe. The key driving factor behind the growth of the said market is the presence of the major players in the region and the growing usage of stretchable electronics in various applications.
The major players in the stretchable electronics market are adopting different strategies to expand and gain a strong position in this market. As the number of established players is gradually growing in the global marketplace, it has become imperative for market players to gain a competitive edge over the other companies. The key players adopted strategies such as focusing on rigorous R&D activities to launch products in the said market along with, entering into agreements, contracts, & partnerships to compete in the stretchable electronics market.
The report provides a detailed insight into the current stretchable electronics market, and identifies key trends in the various segments of the market along with providing in-depth quantitative and qualitative information. The report segments the global stretchable electronics market on the basis of component, application, and geography. Furthermore, it provides market size forecasts, and trend analysis with respect to the market's time-line. Detailed geographic insights with respect to major regions such as North America, APAC, Europe, and Rest of the World have also been included in the report.
The major players that are active in the global stretchable electronics market are Koninklijke Philips N.V (Netherlands), Adidas AG (Germany), 3M (U.S), DuPont (U.S), BodyMedia (U.S), PARC (U.S), Cambrios (U.S), PowerFilm (U.S), Physical Optics Communication (U.S), and MC10 (U.S).
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