Global Thick Film Devices Market - Segmented by Application (Capacitor, Thermistors, Photovoltaic Cells, Heaters, Circuit Devices), End-user Vertical (Automotive, Consumer Electronics, Medical, Infrastructure), and Region - Growth, Trends, and Forecast (2018 - 2023)
Thick film devices Market was worth USD 65.81 billion in 2017 and is projected to reach USD 120.53 billion by 2023 registering a CAGR of 10.4% over the period 2018 - 2023. The scope of the report is limited to application including capacitor, thermistors, photovoltaic cells, heaters, circuit devices, and others, and end-user vertical, such as automotive, consumer electronics, medical, infrastructure, and others. The regions considered in the scope of the report include North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The study also emphasizes the benefits of thick film devices in accordance with diverse application and future prospect of the same.
Thick film technology is widely used in the manufacturing process of the devices, such as electronic and electrical devices. However, the technical aspect of both the technologies over devices is radiantly different. The tolerance and temperature coefficient of thick film devices are higher than that of a thin film, which is likely to boost the market growth over the forecast period. Furthermore, thick films are relatively more resistant to the moisture owing to their glass-like structure which is expected to bolster the market growth over the projected period.
Growing Demand for Electronic and Electrical Components
Adoption of electrical and electronic devices are booming across the globe wherein the utilization of thick film devices is vital owing to which it is expected to witness high demand. Moreover, the rising demand for solar cells and flexible devices such as sensors are expected to propel the thick film devices market growth over the next six years. Additionally, the government across the globe is highly focused on investment in infrastructure and communication projects which will certainly fuel the demand for thick film devices thereby fostering the market growth.
Asia Pacific to Witness the Highest Growth
Asia Pacific countries such as India and China are rigorously investing in their public and private infrastructure and communication system, which is expected to have a positive impact on the market growth over the forecast period. Additionally, the emerging economies of these countries along with Singapore and Thailand is projected to impact the market growth positively. India is promoting “Make in India” campaign encouraging 100% foreign direct investment, which can be an opportunity to penetrate into the thick film devices market.
Key Developments in the Market
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