New York, United States, Dec. 11, 2023 (GLOBE NEWSWIRE) -- The Global Flexible Electronics Market Size is to Grow from USD 28.5 Billion in 2022 to USD 86.39 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 11.7% during the projected period.
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Flexible electronics, commonly termed flex circuits, is a method of assembling electronic circuits by mounting electronic devices on flexible plastic substrates such as polyimide, PEEK, or translucent conductive polyester film. The growing popularity of flexible electronics in the electronics industry, such as flexible batteries and displays, and the apparent increase in consumer acceptance of computing devices and smartphone products, are two key factors expected to drive the projected expansion of the global flexible electronics market. Flexible electronics have grown popular due to their exceptional adaptability due to unique physical properties such as elasticity and stretchability. Furthermore, as portable electronic device technology such as smart glasses, smart watches, and smart bands emerge, the market for wearable electronic devices grows. Moreover, the market is expected to grow throughout the course of the projection. Because of the increasing popularity of Internet of Things (IoT) gadgets and government worry for flexible electronics. During the estimated duration, increasing technological advancements are expected to create possibilities for progress in the worldwide flexible electronics market.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on the “Global Flexible Electronics Market Size, Share, and COVID-19 Impact Analysis, By Component (Flexible Display, Flexible Battery, Flexible Sensor, Flexible Memory, Flexible Photovoltaics, Others), By End-users (Healthcare, Automotive, Industrial, Energy & Power, Consumer Electronics, Defense & Aerospace, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032.”
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The flexible display segment is dominating the market with the largest revenue share over the forecast period.
On the basis of component, the global flexible electronics market is segmented into the flexible display, flexible battery, flexible sensor, flexible memory, flexible photovoltaics, and others. Among these, the flexible display segment is dominating the market with the largest revenue share of 41.7% over the forecast period. Consumer demand for novel displays that can stretch, move, or provide some degree of flexibility is projected to drive the growth of the flexible display market.
The consumer electronics segment accounted for the largest revenue share of more than 48.2% over the forecast period.
On the basis of end-users, the global flexible electronics market is segmented into healthcare, automotive, industrial, energy & power, consumer electronics, defense & aerospace, and others. Among these, the consumer electronics segment is dominating the market with the largest revenue share of 48.2% over the forecast period. The extensive usage of flexible displays in consumer electronic items such as smartphones, smartwatches, televisions, and so on has contributed to the segment's growth. Additionally, there is a surge in demand for battery-powered items that are lightweight and long-lasting, such as laptops, smartphones, and smartwatches.
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Asia Pacific dominates the market with the largest market share over the forecast period.
Asia Pacific is dominating the market with more than 35.6% market share over the forecast period. The vast manufacturing capabilities of countries such as China and South Korea have accelerated market penetration rates, and the position of several Asian countries at the center of electronics creativity and inventiveness, particularly in segments such as smartphones and wearable devices, is one of the most significant factors extending this dominance. On the other hand, North America is predicted to expand the fastest during the forecast period. North America has historically been a leader in the development and acceptance of innovative technologies, and the flexible electronics industry is no exception. During the forecast period, the Europe market is expected to rise at a significant CAGR. Europe is a prominent player in the global flexible electronics industry, with a greater emphasis on research, efficiency, and innovation.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Flexible Electronics Market include Samsung Group, LG Corp., Panasonic Corporation, The 3M Company, Konica Minolta Inc., First Solar, Inc., E Ink Holdings, Blue Spark Technologies, Inc., BrightVolt Technologies, General Electric, ITN Energy Systems Inc., OLEDWorks LLC, Multi-Fineline Electronix, Inc., Pragmatic Semiconductor Limited and among others.
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Recent Developments
- On June 2023, FLEX PLUS, a flexible battery solution, was introduced by Forsee Power, a battery manufacturer. The battery system is designed for electric heavy vehicles like trucks, buses, and off-road vehicles. The battery solution will enable thermal hybrid applications to be used or charged in electric vehicles.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Flexible Electronics Market based on the below-mentioned segments:
Flexible Electronics Market, Component Analysis
- Flexible Display
- OLED
- E-paper
- LCD
- Others
- Flexible Battery
- Thin-Film Batteries
- Curved Batteries
- Printed Batteries
- Others
- Flexible Sensor
- Bio Sensors
- CMOS Hybrid Sensors
- Photo Detectors
- Piezo Resistive
- Others
- Flexible Memory
- Flexible Photovoltaics
- Others
Flexible Electronics Market, End-users Analysis
- Healthcare
- Automotive
- Industrial
- Energy & Power
- Consumer Electronics
- Defense & Aerospace
- Others
Flexible Electronics Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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