Graphene Electronics Market size is expected to grow rapidly between 2020 and 2026 due to increasing its adoption in solar power and electrical industries for strong electrical and heat conductivity properties of graphene material. Graphene is an allotrope of carbon with carbon atoms packed in a honeycomb structure that enables graphene to provide electrical and thermal properties that traditional components lack. The conductivity property of graphene is one of the significant factors that will propel the adoption of graphene electronics in the coming years. The versatility and extraordinary properties of graphene, including thermal & electrical conductivity, strength, and lightweight, have leveraged its adoption in solar energy devices, electrical devices, and batteries. Graphene is replacing electrodes in batteries to provide increased electrical conductivity, increasing battery life. The increasing demand for electronic devices with longer battery life is also influencing the adoption of graphene electronics.
The rising adoption of IoT applications will fuel the demand for graphene electronics devices. The development of IoT devices requires electronic devices that are efficient, fast, and sensitive to change, positively influencing market growth. The sensor used for IoT applications is integrated with graphene electronics to deliver highly sensitive and fast response time, creating high growth opportunities in the coming years. Because of strong electrical conductivity and being light in weight, graphene can be used in manufacturing smart devices for IoT implementation.
Initiatives taken by governments of various nations toward the eco-friendly generation of energy are contributing to graphene electronics market growth. Energy generation companies are shifting their focus on renewable sources, which are available in abundance in nature. To make use of these sources, an infrastructure for energy conversion and storage is required to efficiently deliver electrical & thermal properties along with short charging times. Graphene-based batteries have increased energy storage capacity and less charging time, rising their adoption in energy conversion applications. The solar energy power plants make use of these graphene-based batteries to store converted energy.
An increasing need for data storage is a major concern for companies that rely on data analysis for functioning. Cloud providers, IT businesses, and data centers need efficient devices for storing business-critical data. The rising need for efficient and large data storage devices is likely to fuel the market. Graphene along with some ferromagnetic materials can be used to manufacture storage devices. These devices can be rewritten a number of times and have an increased recording density. This will help the companies to integrate a lesser number of storage devices to process a large amount of data and provide large storage capacity.
High initial investments, lack of required infrastructure, and design complexities are some factors restraining market growth. However, to overcome complexities, companies are continuously involved in the research & development of manufacturing devices with superior electrical & thermal properties, driving the demand for the market. Companies are also developing graphene-based ink for coating substrates to limit electromagnetic interference, gas barrier films, and light & strong composites for automotive and naval markets.
Based on application, the graphene electronics market is segmented into consumer electronics, data storage, and solar power generation industries. The consumer electronics segment holds a significant market share due to rising integration of graphene into smartphones, smart wearables, and touchscreen devices. Graphene can be used as a coating to improve touch screens of smart devices. It can be used in circuits of computers to enable fast functioning. Smartphones and smart wearable devices require precise and quick monitoring of information to enhance consumer experience. Graphene provides fast mobility to electrons increasing electrical conductivity, which makes it useful as a manufacturing material in the circuits. This will increase its adoption in the consumer electronics segment. Companies are majorly focusing on integration of graphene electronics solutions into their product offerings to deliver fast & efficient functionalities and enhance customer experience.
Based on device type, the graphene electronics industry is segmented into graphene transistors, graphene sensors, graphene chips & ICs, and graphene supercapacitors. The graphene supercapacitors segment is likely to hold a significant market share during the forecast period. Graphene supercapacitors have high energy density due to high electrical conductivity and fast carrier mobility. These supercapacitors can be used in regenerative braking in automobiles, trains, and elevators, where rapid charge and discharge cycles are needed.
North America currently is the largest shareholder in the market owing to robust research & development activities in the region. Research institutes and companies are collaborating to produce next-generation electrical devices such as field-effect transistors, radio frequency circuits, and sensors based on graphene. Furthermore, rising demand for smart wearables among the population is driving market growth in the region. The increasing trend of smart wearables is observed due to the health-conscious nature of the population, which requires constant monitoring of vital and real-time analysis. This can be obtained by using smart wearables that are based on graphene. Asia Pacific is projected to drive the demand for the graphene electronics market during the forecast period. IT industries in this region are increasingly adopting data storage facilities either in-house or service providers. This will increase the demand for high storage density and rewriteable capacities, creating high growth opportunities for the market.
Major companies in the market are Graphene Frontiers, Graphene Laboratories, Inc., Graphene Square, Grafoid, Inc., Graphenea S.A., Skeleton Technologies, Samsung Electronics Co., Ltd., SanDisk Corporation, Galaxy Microsystems Ltd., IBM Corporation, and AMG Advanced Metallurgical Group N.V.
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