Growing demand for miniaturization of electronic products and increasing technological advancements are expected to increase the demand for the global flexible electronics market during the forecast period of 2024-2028.
According to TechSci Research report, “Flexible Electronics Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018–2028,” the Global Flexible Electronics Market is anticipated to register a robust growth during the forecast period, 2024-2028 due to increased demand for portable and smart electronics goods. Moreover the flexible electronics market is anticipated to expand over the projected period due to rise in sales of Internet of Things (IoT) devices.. Additionally, the industry is growing even faster because of the development of printed electronics, which opens up attractive potential for a variety of applications. According to these considerations, the global flexible electronics market is predicted to rise rapidly in the next years.
Additionally, the development of materials and assembly processes, as well as the miniaturization of electronic devices for faster operational speed, are additional significant factors that are anticipated to propel the expansion of the global flexible electronics market in the forecast years. A few other reasons that are projected to fuel the expansion of the global flexible electronics market include the expanding client base in the electronics sector and the increased use of organic solar cells.
On the other hand, the adoption of flexible electronics in the production of electronic products is being driven by the rising complexity of designs for various electronic items, like smartphones, tablets, laptops, and smartwatches. The production of more varied forms of flexible and compact electronic devices is encouraged by the large range of devices produced across numerous industries, including healthcare, the military, aerospace, and many more. In the upcoming years, the need for flexible electronics is expected to increase due to ongoing projects involving the creation of numerous smart cities in various nations. Additionally, as flexible electronics are used in LEDs and OLEDs, the market is likely to rise as a result of the increasing adoption of these technologies.
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Global Flexible Electronics Market is segmented into applications, circuit structure, end use industry, region and competitive landscape.
On the basis of applications, displays are expected to be the dominating segment in the Global Flexible Electronics Market owing to the widespread use of displays in consumer electronics goods like laptops, smartphones, and tablets. In addition, foldable smartphones are becoming more popular, which is anticipated to fuel the expansion of the global flexible electronics industry.
The batteries segment on the other hand, is anticipated to have the fastest growth during the projection period owing to the proliferation of the technologies like IoT and AI and its adoption in various wearable devices requiring compactness and energy efficiency, which fuels the growth of this segment. With the decreasing size of the electronic devices, the demand for the efficient and long-lasting compact batteries is also increasing rapidly, and hence this segment is expected to offer lucrative growth opportunities during the forecast period.
On the basis of regional analysis, North America is the largest market for flexible electronics worldwide due to the increasing demand for smart wearables. For instance, according to Ericsson, the number of smartphone subscriptions in North America is estimated to reach 358 million by 2027, based on the steady growth seen in earlier years. Americans owned approximately 328 million smartphones as of 2021, which is expected to augment the demand for flexible electronics in the North American region.
Major market players operating in the Global Flexible Electronics Market are:
- E Ink Holdings Inc.
- Blue Spark Technologies
- Samsung Electronics Co. Ltd
- LG Electronics Inc.
- Enfucell Flexible Electronics Co. Ltd.
- Cymbet Corporation
- AU Optronics Corp.
- Imprint Energy Inc.
- Palo Alto Research Center Incorporated
- Solar Frontier
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“The growing demand for wearable technologies, as well as the rising investments in the construction and development of organic flexible photovoltaic cells, touch-sensing skin, and IoT is likely to augment the demand for flexible electronics during the forecast period. Furthermore, during the forecast period, the market for flexible electronics will rise due to an increase in research and development by numerous institutions as well as the emergence of top competitors and producers of flexible electronics technology. Additionally, it is projected that in the upcoming years, the desire for portable renewable energy resources, population expansion, and an increased need for accurate and effective monitoring of physical conditions would all contribute to the growth of the flexible electronics.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Flexible Electronics Market – Global Industry Size, Share, Trends, Opportunities, and Forecast, 2018-2028 Segmented By Applications (Displays, Sensors, Thin-Film Photovoltaics, Batteries, and Others), By Circuit Structure (Single-Sided Flexible Circuit, Double-Sided Flexible Circuit, Multilayer Flexible Circuit, Sculptured Flexible Circuit and Others), By End Use Industry (Consumer Electronics, Healthcare, Military & Defense, Automotive, Others), By Region, ” has evaluated the future growth potential of Global Flexible Electronics Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Flexible Electronics Market.
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