Organic Electronics Market Regional Analysis:
Asia Pacific Market Insights
Asia Pacific industry is likely to dominate majority revenue share of 47% by 2035. The surge in smartphones, wearable devices, and televisions due to the high demand for smartphones drives the growth of organic electronics in this region. A report by GSMA in 2023 estimated that in Asia Pacific more than 3 billion smartphone connections were expected with a smartphone adoption rate of 94%.
Increasing usage of advanced technologies such as ML (machine learning) and AI (artificial intelligence) in organic electronics would integrate several features such as remote sensing and automated start. This will fuel the sales of organic electronics in China. Harward Business Review in 2021 projected that based on several indicators China is the global frontier in the technological development of AI.
IoT-compatible organic devices in Japan are at a surge owing to the presence of prominent companies like Panasonic and Sony which integrate OLEDs into their devices such as TVs, wearable devices, and more. For instance, in August 2023, Sony announced the release of ECX344A, an HD, large with 4K resolution along with a 1,3-type OLED Microdisplay. This is preferably used in VRs and Ars head-mounted displays. This growth will augment the market share of virtual reality in the forecast period.
North America Market Insights
North America will also encounter huge growth in the organic electronics market share during the forecast period with a notable size. This region will account for the second position in this landscape owing to the increasing IT & software, automotive, and consumer electronics industries and its demand in the rapidly increasing population growth. Researchers at Research Nester published a report in May 2024, estimating that about 50-60% of the whole year’s revenue in North America is attributed to IT services firms.
Increasing disposable income in the U.S. is projected to increase the demand for organic electronics market growth. According to a report by the Bureau of Economic Analysis in March 2024, in just one month from April to May, personal income increased by 0.5% valued at USD 114.1 billion.
Canada has shown a lucrative increase in sustainable development technologies, as they demand low-power consumption and the latest premium products such as organic batteries, monitors, TVs, smartphones, and more. In July 2023, the Government of Canada published a report estimating that in 2021, the environmental and clean technology (ECT) sector contributed 1.6% of employment and 2.9% of Canada's GDP.
