NEWARK, Del, Oct. 25, 2023 (GLOBE NEWSWIRE) -- The stretchable electronics market is anticipated to expand its roots at a steady CAGR of 6.2% between 2023 and 2033. The market is expected to have a market share of US$ 53 billion by 2033, while it will likely be valued at US$ 29 billion in 2023.
- Advanced flexible technology, healthcare trackers, fitness monitoring watches, and skin-based badges for insulation tracking are gaining traction in the market.
- The technology integrating with connected devices through IoT transforms the market. Integrating artificial intelligence, machine learning, and advanced computing is garnering market growth.
- The 5G deployment and smartphone penetration are helping the market spread its boundaries while affordable prices, flexible technology, and high connectivity have shaped the market's growth trajectory.
- The higher application of stretchable electronics in the automotive, defense, and energy sectors is anticipated to impact these sectors. Robotic technology in the defense sector is further expected to propel the market growth
- The transforming consumer electronic industry with daily developments is anticipated to add new programs to the market’s expansion. The research and advertising-based projects are expected to be successful.
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Key Takeaways from the Stretchable Electronics Market Report:
- The United States market leads the stretchable electronics market in terms of market share in North America. The United States region is thriving at a CAGR of 5.0%. The growth in this region is caused by the technologically enabled automotive sector and expanding healthcare research. Moreover, the transforming aerospace and defense research is projected to garner regional growth. The region is expected to reach US$ 8.3 billion by 2033.
- The United Kingdom market is another important market. The market thrives at a CAGR of 4.6% between 2023 and 2033. The growth is attributed to increased healthcare research, a growing population of millennial consumers, and fashion trends. The regional market is projected to reach US$ 1.5 billion by 2033.
- China’s stretchable electronics market booms at a strong CAGR of 7.6% from 2023 to 2033. The leading market dynamics are the expanding manufacturing facilities, technologically-driven population, and affordable pricing in China. Further, the market is likely to cross a value of US$ 13.4 billion by 2033.
- Based on component type, the flexible screen segment leads the market as it thrives at a CAGR of 6.1% between 2023 and 2033.
- Based on application type, the consumer electronics segment leads the market as the market thrives at a CAGR of 6.0% during the forecast period. Previously, the segment thrived at a CAGR of 6.7% from 2018 to 2022.
"The Stretchable Electronics Market is poised for significant growth in the coming years. With the increasing demand for wearable devices and the development of flexible, stretchable components, this market is expected to witness a substantial surge in investments and innovation. Factors such as healthcare applications, sports and fitness technology, and advancements in materials are driving the expansion of this market, making it a promising sector for investors and businesses alike." - says Sudip Saha, Managing Director and Co-Founder at Future Market Insights.
Competitive Landscape:
The key companies focus on building highly flexible, affordable, and easy-to-integrate technology. Key competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.
Leading Key Players:
- Forciot Ltd
- RISE Acreo
- Sri International
- Avery Dennison Corporation
- Cambrios
- Canatu Oy
- GCell
- Georgia Institute of Technology
- Holst Centre
- IMEC
- MC10
- Northwestern University
Recent Market Developments:
- StretchSkin Technologies has started developing soft sensors that are polymer-based and are easily integrated into functional chip components. The technology also utilizes high-performance, nano-material, nano-wires, etc.
- Flexosense has launched its flexible Electronic substrates, offering the sensor to healthcare devices, robotics, and consumer electronics manufacturers.
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Stretchable Electronics Market Segmentation:
By Component Type:
- Flexible Display
- OLED
- E-paper
- LCD
- Flexible Battery
- Flexible Sensor
- Bio Sensors
- CMOS Hybrid Sensors
- Photo Detectors
- Piezo Resistive
- Others
- Flexible Memory
- Flexible Photovoltaics
By Application:
- Consumer Electronics
- Automotives
- Medical & Healthcare
- Energy and Power
- Aerospace and Defense
- Others
By Key Regions Covered:
- North America
- Latin America
- Europe
- Japan
- Asia Pacific Excluding Japan
- The Middle East and Africa
Author By:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management across verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client's requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
Have a Look at the Related Reports of the Technology Domain:
- Wearable Computing Devices Market Share: The global market size is estimated to be valued at US$ 44.2 billion in 2023 and is projected to surpass a valuation of US$ 258.87 billion by 2033. The demand for wearable computing devices will likely rise at a CAGR of 19.3% from 2022 to 2032.
- Flexible Electronics Market Size: The global market is growing steadily to record a CAGR of 8.5% from 2022 to 2032. Flexible electronics are the new class of bendable, stretchable, and twistable, enabling the manufacturing and enhancement of the capabilities and features of new digital products.
- Electronic Lab Notebook (ELN) Market Analysis: The global market revenue totaled US$ 421.0 Million in 2021. This market is projected to reach US$ 1,180.3 Million by 2029, growing at a CAGR of 13.9% from 2022 to 2029.
- Smart Fitness Market Outlook: The global market revenue totaled US$ 13,122.3 million in 2022, according to Future Market Insights (FMI). The overall market size is expected to reach US$ 46,934.8 million by 2033, growing at a CAGR of 12.4% from 2023 to 2033.
- Wearable Translator Market Overview: The global market is poised to register a 4.5% CAGR, capturing a revenue share of US$ 222.5 million in 2023, to reach US$ 345.6 million by 2033.
About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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