Westford, USA, Oct. 04, 2022 (GLOBE NEWSWIRE) -- As the world of electronics becomes increasingly complex, so does the growth of the global flexible electronics market. SkyQuest attributes this growth to the increasing demand for flexible devices, such as wearables and foldable smartphones. They also believe that new applications, such as stretchable displays and sensors, will drive further adoption of flexible electronics.
Wearable devices are one of the most promising applications for flexible electronics market. They offer a way to integrate technology into our everyday lives in an unobtrusive and convenient way. The market for wearable devices is expected to grow from $27 billion in 2022 to $195 billion by 2030.
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The IoT is another major driver of flexible electronics market growth. Flexible sensors and circuits can be embedded into all sorts of objects to create a network of connected “smart” devices. The IoT is expected to have a huge impact on our lives, with SkyQuest study says there are over 14.4 billion devices connected to the IoT at the as of September 2022.
The increases in functionality and declining costs of flexible electronics are making them attractive for a variety of applications across many industries. We predict that the healthcare and automotive industries will be among the biggest adopters of flexible electronics over the next five years. In healthcare, flexible electronics will be used for wearable devices that monitor patients' vital signs and provide real-time feedback to doctors. The automotive industry in the global Flexible electronics is expected to use flexible electronics for a variety of applications including infotainment systems, advanced driver assistance systems, and vehicle-to-vehicle communication.
Other industries that are expected to adopt flexible electronics in the next few years include consumer electronics, military, aerospace, and retail.
Consumer Electronics Holds 56% Share of Flexible Electronics Market
SkyQuest, a leading research and advisory firm, has released its analysis of the emerging trend of flexible consumer electronics. This new category of devices includes smartphones, tablets, laptops, and other consumer electronics that are designed with flexible displays and/or components. Our study estimates that shipments of flexible consumer electronics will reach nearly 2.15 billion units in 2021 and the number is expected to surpass 2.2 billion by the end of 2022. This dramatic increase is being driven by falling prices for flexible displays and increasing consumer interest in these new device types.
In the global flexible electronics market, flexible consumer electronics include devices such as smartphones, tablets, wearables, and laptops that have some form of flexibility built into their design. This could be in the form of a folding or bendable display, a detachable keyboard, or even just a more ergonomic form factor. The main driver behind this growth is the continued popularity of smartphones and tablets. As these devices become more commonplace, manufacturers are looking for ways to differentiate their products in the marketplace. Flexible consumer electronics offer a unique selling point that can help boost sales.
In addition, the falling prices of flexible OLED and QLED displays are making them more accessible to manufacturers of all sizes in the flexible electronics market. This is expected to further spur growth in the segment over the next few years.
Swarnima Aeri, a research analyst at SkyQuest, believes that the flexible consumer electronics market will continue to grow rapidly in the coming years, with shipments reaching 2.3 billion units by 2025. While the majority of these devices will be shipped to developed markets such as North America and Europe. Moreover, emerging markets will also account for a significant portion of electronics shipments. The main appeal of flexible consumer electronics is their portability and durability. Unlike traditional glass-based devices, FCEs can be bent, rolled, or even folded without breaking. This makes them ideal for use in situations where a traditional device would be at risk of damage, such as during outdoor activities or while traveling.
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On the opportunity side, SkyQuest believes that flexible consumer electronics have the potential to "resolve many of the drawbacks associated with current mobile devices such as small form factors and poor battery life." In addition, these devices could enable new user experiences and pave the way for entirely new categories of applications in the global flexible electronics market.
However, our study also caution that flexible consumer electronics are still in their infancy, and cautioned that "significant challenges need to be overcome before these devices can achieve widespread adoption." Some of these challenges include the high cost of production, concerns about durability and usability, and a lack of compelling content and applications in the flexible electronics market.
Top 5 Players Generates 68% Market Share
Flexible electronics is one of the hottest areas in the tech world right now. Companies are racing to develop new applications for this technology, and the market is expected to grow rapidly in the coming years. However, the flexible electronics market is still in its early stages.
According to SkyQuest, the top five players in the flexible electronics market - Samsung, LG, Dupont, 3M, and FlexEnable - currently dominate the market. These companies are all large, well-established players with deep pockets and a lot of experience in related fields such as display manufacturing. They also have a head start on smaller rivals when it comes to developing new applications for flexible electronics.
As a result, these five companies are expected to continue to dominate the flexible electronics market in the coming years. They will be able to use their size and scale to invest heavily in R&D and quickly bring new products to market. Smaller players will struggle to compete against them and are likely to be consolidation over time.
Samsung is the first-largest player in the flexible electronics market, with a market share of 16%. The company has a strong product portfolio and is one of the leading manufacturers of QLED displays. On the other hand, LG is the second-largest player in the market, with a market share of more than 10%.
These leading companies are expected to continue their dominance in the coming years as the market for flexible electronics grows. They are also well-positioned to benefit from the emerging trend of wearables, which is expected to drive demand for flexible electronics market in the future.
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Recent Developments in Global Flexible Electronics Market
- In September 2022, TNO started working on ELECTRON project. The projected would focus on producing printed electronics and improve its sustainability
- In September 2022, Imperial researcher developed a sensor that can be imbedded in T-shirt to monitor respiration, heart rate, and ammonia.
Prominent Manufacturers in Global Flexible Electronics Market
- Samsung Group (South Korea)
- Panasonic Corporation (Japan)
- The 3M Company (US)
- Konica Minolta Inc. (Japan)
- E Ink Holdings (Taiwan)
- Blue Spark Technologies (US)
- LG Corporation (South Korea)
- BrightVolt Technologies (US)
- PragmatIC Printing Ltd. (UK)
- First Solar Inc. (US)
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Global Machine Condition Monitoring Market
Global Mass Flow Controller Market
Global Head Mounted Displays Market
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