Dublin, April 12, 2021 (GLOBE NEWSWIRE) -- The "Global Flexible Electronics & Circuit Market with COVID-19 Impact Analysis by Structure Type (Single Sided Flex Circuit, Multilayer Flex Circuit), Application (Displays, Printed Sensors), Vertical (Consumer Electronics), and Geography - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global flexible electronics market is projected to reach USD 48.5 billion by 2026 from an estimated USD 31.9 billion in 2021, at a CAGR of 8.8% from 2021 to 2026.
The rising demand for consumer electronic devices is among the factors driving the growth of the flexible electronics & circuit market.
The multilayer flex circuit held the largest share of the flexible circuit market in 2020, and will continue to hold a dominant position in the market during the forecast period
Multilayer flex circuits offer reduction in assembly costs, time, package size, and weight. They also offer better signal integrity than other structure types and are increasingly being used in the military, defense & aerospace; communications; automotive; and consumer electronics verticals. Multilayer flex circuit boards have very fine lines, allowing enough space for other components. Hence, multilayer flex circuit boards have high board density that is suitable for high density applications.
The consumer electronics vertical is expected to capture the largest share of the flexible electronics market based on vertical
The growth of this market can be attributed to the large-scale adoption of flexible displays in consumer electronic devices such as smartphones, wearables, televisions, etc. Flexible OLED displays are widely used in leading smartphones by industry leaders such as Apple Inc. and Samsung Group. Apple has plans to introduce the iPhone Flip with a flexible display. Such developments have significantly contributed to the growth of the overall flexible electronics market for the consumer electronics vertical.
Based on region, APAC held the largest share of flexible electronics market
APAC held the largest share of the overall flexible electronics market, based on region, in 2020. The growth of the market can be attributed to the presence of leading players from the flexible electronics ecosystem such as Samsung Group, LG Corp., Panasonic Corporation, and Konica Minolta Inc. These players have captured a major share of the flexible electronics market, thereby contributing significantly to the growth of the market in APAC.
Samsung Group (South Korea), LG Corp. (South Korea), Panasonic Corporation (Japan), The 3M Company (US), Konica Minolta Inc. (Japan), First Solar, Inc. (US), E Ink Holdings (Taiwan), PragmatIC Printing Ltd. (UK), Blue Spark Technologies, Inc. (US), and BrightVolt Technologies (US), are some of the key players in the flexible electronics & circuit market.
Market Dynamics
- Premium Insights
- Rising Demand for Consumer Electronics to Fuel Demand for Flexible Electronics in Coming Years
- Multilayer Flex Circuit Segment to Register Highest CAGR During Forecast Period
- North America to Capture Largest Market Share by 2026
- Consumer Electronics to Account for Largest Share of Flexible Electronics Market by 2026
Drivers
- Rising Demand for Consumer Electronic Devices
- Low Cost of Production as Compared to Rigid Substrates
- Growing Demand in Healthcare Sector
Restraints
- High Investment Cost
- Complex Assembly Process
Opportunities
- Continuous Technological Development
- Increasing Adoption of Displays, Thin Film Photovoltaics, and Printed Sensors
Challenges
- Difficult Repair and Rework
- Flexible Electronics & Circuit Market: Challenges and Their Impact
Trends/Disruptions Impacting Customers' Business
- Revenue Shift and New Revenue Pockets for Flexible Electronics & Circuit Market
Case Study
- Novares Collaborated with Flexenable to Integrate Curved Displays in Its Demo Car
- Hyundai and LG Collaborated to Introduce Ceiling Displays in Its Electric Vehicles
Technology Analysis
- Complementary Technologies
- Active Matrix Organic Light Emitting Diodes (AMOLED)
- Organic Thin-Film Transistor Technology
Companies Mentioned
- AU Optronics Corp.
- Blue Spark Technologies, Inc.
- BrightVolt Technologies
- Cymbet Corporation
- E Ink Holdings
- Enfucell OY
- First Solar, Inc.
- Flexenable Ltd.
- Heliatek GmbH
- Hyundai
- Imprint Energy, Inc.
- Konica Minolta Inc.
- LG Corp.
- Novares
- OLEDworks
- Palo Alto Research Center (PARC), a Xerox Company
- Panasonic Corporation
- PragmatIC Printing Ltd.
- Royole Corporation
- Samsung Group
- The 3M Company
- Thin Film Electronics ASA
For more information about this report visit https://www.researchandmarkets.com/r/v9pzus