Surge in demand for consumer electronics and digital memory solutions in emerging economies like Brazil, India and others, rise in demand for faster and lower-power devices, increase in demand for advanced electronic solutions with high mechanical strength, superior thermal conductivity, and very high electron mobility across consumer electronics, automotive and other sectors drive the growth of the global graphene electronics market.
PORTLAND, Ore., Feb. 15, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Graphene Electronics Market By Product (Display, Memories, Batteries, Solar Cell, Integrated Circuits and Chips, and Others), Industry Vertical (Consumer Electronics, Automotive, Healthcare, Industrial Robotics, Aerospace and Défense, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2031″. According to the report, the global graphene electronics industry generated $270.8 million in 2021, and is estimated to reach $5.2 billion by 2031 witnessing a CAGR of 34.2% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.
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Drivers, Restraints, and Opportunities
Surge in demand for consumer electronics and digital memory solutions in emerging economies like Brazil, India, and others, the rise in demand for faster and lower-power devices, increase in demand for advanced electronic solutions with high mechanical strength, superior thermal conductivity, and very high electron mobility across consumer electronics, automotive and other sectors drive the growth of the global graphene electronics market. However, the high cost and lack of awareness of graphene technology restrict the market growth. On the other hand, a surge in government initiatives regarding research and development will present new growth opportunities for the global graphene electronics market in the coming years.
Report Coverage and Details:
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Report Coverage |
Details |
|
Forecast Period |
2022–2031 |
|
Base Year |
2021 |
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Market Size in 2021 |
$270.8 million |
|
Market Size in 2031 |
$5.2 billion |
|
CAGR |
34.2 % |
|
No. of Pages in Report |
301 |
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Segments Covered |
Product, Industry Vertical, and Region |
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Drivers |
Surge in sales of electronic vehicles paired with superior performance & functionalities |
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Thriving portable electronics industry |
|
|
Opportunities |
Rise in government investment in research and development |
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Restraints |
High cost and lack of awareness of graphene technology |
COVID-19 Scenario:
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The outbreak of the COVID-19 pandemic negatively impacted the graphene electronics market. Production and manufacturing facilities around the globe were shut down as a result of lockdowns in several nations.
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The lack of qualified workers to create next-generation graphene electronics, including memories, batteries, displays, and other components hampered the market growth.
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However, the global market for graphene electronics has recovered slowly and steadily in the post-pandemic.
The automotive segment to dominate in terms of revenue during the forecast period
By industry vertical, the automotive segment contributed to the largest share of more than one-third of the global graphene electronics market in 2021 and is expected to maintain progressive growth during the forecast period. The segment is driven by the increasing adoption of graphene electronics in automotive vehicles to ensure exceptional storage capacity, excellent charging