New York, United States, Sept. 28, 2023 (GLOBE NEWSWIRE) -- Flexible electronics consist of a bilayer of a thin passive substrate on top of the second layer of active electronic components, which permits bending, rolling, folding, and stretching without performance deterioration. “The global flexible electronics market size is envisioned to reach USD 44,873 million, expanding at a CAGR of 7.7% during the forecast period” said by Seema, Research Manager at Straits Research P. Ltd.
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Rising Trends
Adopting intelligent electronic gadgets like smartwatches, flexible phones, and thinner, foldable PCs has boosted the flexible electronics market. Microelectromechanical systems (MEMS) and nanoelectromechanical systems (NEMS) have created a demand for intelligent power sources compatible with microscopic devices. Since only flexible batteries can be included suitably as a power source, they represent the most acceptable alternative on the market today. In addition, flexible screens and sensors enable gadget designers to create custom designs, stimulating market expansion. As a result, the rise of the flexible electronics market is driven by the demand for intelligent electronic products that use the latest sensor technology.
Growth Opportunities
The printing technology can manufacture printed electronic components; however, they cannot reach their full potential until they are integrated with other printed devices. This trend is exemplified by the rising use of printed flexible batteries in various applications, such as RFID. In addition, the applications connected with flexible electronics are already expanding rapidly, which is predicted to accelerate shortly.
Regional Insights
The Asia Pacific will command the market with the largest share while growing at a CAGR of 9.5%. The Asia-Pacific region has one of the most dynamic economic structures in the world. China, Japan, and South Korea contribute the most to housing flexible electronics manufacturers. Numerous regional corporations and educational institutions have invested in developing next-generation technologies such as flexible electronics. The Asia-Pacific area is home to several of the world's largest and fastest-growing economies. As the location of some of the world's major semiconductor and electronics companies, like Samsung Electronics, LG Electronics, etc., Asia-Pacific has a strong position in this market.
North America will proliferate at a CAGR of 9.1% and hold USD 17,101 million. North America leads the pack in terms of the number of firms participating in the flexible electronics market. North America is home to many companies active in flexible electronics. As a result, the market for flexible electronic products such as flexible displays, thin film, printed batteries, and flexible memory is up-and-coming. Flexible electronics companies in North America are always involved in creating more innovative solutions to meet new applications.
Key Highlights
- Based on components, the flexible display section is projected to advance at a CAGR of 9.4% and hold the largest market share.
- Based on application, the consumer electronics section is projected to advance at a CAGR of 9.4% and hold the largest market share.
- Based on regional analysis, the Asia Pacific will command the market with the largest share while growing at a CAGR of 9.5%.
Competitive Players in the Market
- Samsung Electronics Co., Ltd.
- Solar Frontier
- Palo Alto Research Center Incorporated
- LG Corporation
- Cymbet Corporation
- Blue Spark Technologies
- Enfucell Flexible Electronics Co., Ltd.
- Imprint Energy
- E Ink Holdings
- AU Optronics
Market News
- In 2022, Samsung Electronics Co., Ltd announced that it had initiated sampling of the first 16-gigabit (Gb) Graphics Double Data Rate 6 (GDDR6) DRAM with 24-gigabit-per-second (Gbps) processing rates. The new memory is intended to significantly boost the graphics performance of next-generation graphics cards (Video Graphics Arrays), laptops, and game consoles, as well as AI-based applications and high-performance computing (HPC) systems.
- In 2022, Samsung Electronics Co., Ltd announced the release of Samsung Space Tycoon ("Space Tycoon"), a worldwide metaverse platform built on the global metaverse platform Roblox. Taking aesthetic and functionality elements from the business simulation 'tycoon' genre, Arena Tycoon is a virtual space where users can develop and play games and share experiences using Samsung Electronics' goods with alien characters in space.
Global Flexible Electronics Market: Segmentation
By Component
- Flexible Display
- OLED
- E-paper
- LCD
- Flexible Battery
- Flexible Sensor
- Biosensors
- CMOS Hybrid Sensors
- Photo Detectors
- Piezo Resistive
- Others
- Flexible Memory
- Flexible Photovoltaics
By Application
- Consumer Electronics
- Automotive
- Medical & Healthcare
- Energy & Power
- Aerospace & Defense
- Others
By Region
- North America
- Europe
- Asia Pacific
- LAMEA
About Straits Research Pvt. Ltd.
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