Burlingame, Aug. 09, 2023 (GLOBE NEWSWIRE) -- Coherent Market Insights published a report, titled, "Flexible Electronics Market, By Component (Flexible Display, (OLED, E-paper, LCD), Flexible Battery, Flexible Sensor, (Biosensors, CMOS Hybrid Sensors, Photo Detectors, Piezo Resistive, Others), Flexible Memory, and Flexible Photovoltaics), By Application (Consumer Electronics, Automotive, Medical & Healthcare, Energy & Power, Aerospace & Defense, and Others), - Size, Share, Outlook, and Opportunity Analysis, 2023–2030,” According to the report, the global flexible electronics market is estimated to be valued at $7.42 billion in 2022 and is expected to exhibit a CAGR of 12% during the forecast period (2023-2030).
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Analysts’ Views on Global Flexible Electronics Market
Flexible electronics are devices and circuits built on bendable substrates, which allows them to conform to different shapes. They offer portable, lightweight, and adaptable solutions for curved displays, wearable tech, and smart packaging. The versatility of this technology creates novel possibilities for seamless integration into innovative applications and everyday objects.
Key Trends and Analysis of the Global Flexible Electronics Market:
Increasing use of 3D technology in healthcare is a major trend in the global flexible electronics market. The advancements in 3D printing are growing offering several applications including use of 3D printed flexible electronic devices for healthcare industry. Biomedical devices can be printed onto the human skin directly by using 3D printers. It helps in development of flexible electronic sensors for measuring body pressure. Thus, the growing use of 3D technology in healthcare is a major trend in the market.
Global Flexible Electronics Market – Drivers
Rise in use of IoT technologies to fuel the market growth
With increasing adoption of Internet of Things (IoT), factors like social stature, economic, and technical along with application dynamics are getting influenced in recent times. IoT has different components such as implementing technologies, using sensors, and compatible power sources in order for running novel applications. The increasing adoption of IoT devices is in turn driving the demand for flexible electronics and their components. Thus, this is projected to propel growth of the global flexible electronics market over the forecast period.
Flexible Electronics Market Report Coverage
| Report Coverage | Details | |||
| Base Year: | 2022 | Market Size in 2022: | US$ 27.42 Bn | |
| Historical Data for: | 2017 to 2021 | Forecast Period: | 2023 to 2030 | |
| Forecast Period 2023 to 2030 CAGR: | 12% | 2030 Value Projection: | US$ 67.7 Bn | |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: | Au Optronics Corp., Blue Spark Technologies, Cymbet Corporation, E Ink Holdings Inc., Enfucell Softbattery, Imprint Energy Inc., LG Electronics, and Palo Alto Research Center Incorporated | |||
| Growth Drivers: |
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| Restraints & Challenges: |
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Growing government initiatives to aid in the market growth
The focus of governments around the world is increasing on initiatives and investments in flexible electronics in order to establish connected world to harness the full potential of applications like mobile health, safety and security, transportation, and wearable technology among others. For instance, in 2017, the U.S. Department of Defense invested US$ 75 million in a public-private partnership to develop flexible electronics.
Global Flexible Electronics Market – Restrain
High cost investment required for flexible electronics to impede market growth
The cost of flexible electronics devices can be higher as compared to devices using traditional electronic components. For instance, the active RFID tags that use internal powering cost higher compared to the one working without power. Thus, flexible batteries cost are high. This factor further limits adoption of flexible electronics impeding growth of the global flexible electronics market.
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Global Flexible Electronics Market – Opportunities
Rise in growth of printed electronics is expected to offer growth opportunities in the global flexible electronics market during the forecast period. The use of printing technology is widespread. It can be used to separately produce printed electronics components. These devices however, are required to be integrated with other printed devices in order to harness their full potential. The growing number of printed electronics is further driving the demand for components of flexible electronics. As a result, the market is likely to witness growth opportunities in the coming future.
Global Flexible Electronics Market - Key Developments
In October 2020, Notion Systems GmbH and PV Nano Cell Ltd. Entered into a non-exclusive agreement to provide complete solutions that include printing process, printers, and inks for digital additive manufacturing of printed electronics.
In June 2021, Samsung announced development of a completely flexible OLED display that is capable of adhering to and conforming to the surface of the skin.
In January 2021, LG acquired TV data and measurement firm of ALPHONSO. With this acquisition the company will offer highly customized content and services to customers.
Key Market Takeaways:
Global flexible electronics market size is expected to exhibit a CAGR of 12% during the forecast period. The flexible electronics market is growing rapidly in response to the growing penetration of consumer electronics around the world, further driving the adoption of flexible electronics.
On the basis of Component, Flexible Display Segment is expected to dominate the market during the forecast period and this is attributed to the multiple benefits of flexible displays leading to rise in their demand.
On the basis of Application, Consumer Electronics Segment is expected to dominate the market during the forecast period and this is attributed to the increasing adoption of wearable devices and smart electronics. The demand for these devices is increasing, further leading to high investments in development of flexible displays for these devices.
On the basis of Geography, North America is expected to hold a dominant position over the forecast period, due to strong presence of major players in flexible electronics across the region, creating different opportunities for flexible electronic products that includes thin film, printed batteries, flexible memory, and flexible displays for flexible electronic devices.
Competitive Landscape:
Key players operating in the global flexible electronics market include Palo Alto Research Center Incorporated, Au Optronics Corp., LG Electronics, Blue Spark Technologies, Imprint Energy Inc., Cymbet Corporation, Enfucell Softbattery, and E Ink Holdings Inc.
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Detailed Segmentation:
- Global Flexible Electronics Market, 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
- Flexible Display
- Global Flexible Electronics Market, By Application:
- Consumer Electronics
- Automotive
- Medical & Healthcare
- Energy & Power
- Aerospace & Defense
- Others
- Global Flexible Electronics Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country:
- GCC Countries
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
- North America
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