USD 18.48 billion
Flexible Electronics Market Size, Share, Growth Analysis, By Component(Displays, Batteries, Sensors, Memory Devices), By Application(Consumer Electronics [Television, Wearable Devices, Smartphone, Others]), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45J2193 |
Region:
Global |
Published Date: September, 2024
Pages:
157
|Tables:
66
|Figures:
75
Flexible Electronics Market Insights
Global Flexible Electronics Market size was valued at USD 25.5 billion in 2022 and is poised to grow from USD 27.1 billion in 2023 to USD 60.67 billion by 2031, growing at a CAGR of 10.60% during the forecast period (2024-2031).
Some of the most significant drivers expected to foster an increase in the global flexible electronics market are an overall rise in the acceptance of laptops and goods of smartphones and wide application of flexible electronics in the consumer electronics sector, that is, flexible batteries and flexible displays. Manufacturers of consumer electronics focus on developing new products whose sizes are low but offer excellent performance. Flexible screen and battery usage makes the development of lightweight, robust, bendable, and long-lasting goods easy. The global healthcare industry is fast evolving medical equipment, surgery, and diagnostic technologies. Moreover, the demand from the consumers to have fewer surgical and diagnostic procedures is gaining momentum; this requires medical equipment and gadgets with super electrical characteristics, flexibility, and stretchability. The rising demand for high-end medical equipment and devices is likely to fuel the growth of the global market for flexible electronics, further spurring the demand for flexible battery and sensor. Increased spending by consumers is forcing sales in commercial and passenger vehicles alike among leading countries such as the US, China, and India. To be different from others and attract more customers, automobile companies have focused on the launch of vehicles with superior interior designs and technologies such as capacitive touch screens, flexible backlighting, and thin-film heaters. The market is expected to grow with wide applications in printed sensors and batteries in the automobile industry.
US Flexible Electronics Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Flexible Display
Fastest Growth
Flexible Display
Growth Rate
19.1% CAGR
Global Flexible Electronics Market By Geography ($ Bn)
Country Share for North America Region (%)
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Flexible Electronics Market Segmental Analysis
Global Flexible Electronics Market is segmented by Component, Application, and region. Based on Component, the market is segmented into Displays, Batteries, Sensors, Memory Devices, and Others. Based on Application, the market is segmented into Consumer Electronics, Automotive, Healthcare, Industrial, Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Flexible Electronics Market Analysis by Type
The rigid-flexible segment led the flexible electronics market in 2023. State-of-the-art devices are called "rigid flexible electronics" by experts, describing them as devices that possess stiff parts and flexible parts that fold or bend at specific places without discouraging the overall structural integrity. This technology is going to lead the market because of affordability and easiness of access by consumers, thus triggering demand in several industries. Its affordability means the inclusion of cutting-edge features and designs in consumer electronics and medical equipment. Rigid flexible electronics are expected to advance as more sectors begin to realize the benefits that come from combining flexibility and dependability. It will then be easier to produce innovative products meant to enhance user experiences.
The flexibility printed circuits segment will have tremendous growth during the projection period. Due to the same light weight design, low form factor, and shape memory character, FPCs of high importance are there for any contemporary electronic applications. The requirement for flexible printed circuits increases as industries place ever-increasing stress on the enhancement of device performance and downsizing. The trend is being led to a large extent by applications in consumer electronics, automotive, and medical device industries. In the future, expected functional improvements and lower production costs of continuing innovation in manufacturing processes and materials in flexible printed circuit manufacturing should encourage demand further.
Flexible Electronics Market Analysis by End User
Consequently, rigid flexible electronics are expected to be revolutionary and popular consumer goods in the projection period because of the manner in which it transforms the functionality and design of items such as tablets, wearables, or smartphones. Such innovative technologies allow for the user interface to be enhanced and for screens to be made slimmer and more the shape of a bend. Consumers, who demand inventive, multifunctional electronic items, including such products. Consumers increasingly demand more for a product that combines form and functionality, making flexible electronics more popularly used in everyday products. Besides the user experience enhancement, producer encouragement into being thinner, lighter, and stronger, is still one of the big ones that drive market growth in this industry.
However, the healthcare segment is anticipated to lead the market during the forecast period. What makes wearable health trackers and smart clothes with biosensors possible is rigid, flexible electronics, which these advanced devices are revolutionizing the monitoring and treatment of patients. High-definition access to patients' vital signs and even health indicators from these advanced devices helps streamline the real-time monitoring of health to patients and medical practitioners alike. Data-driven insights in the application of this technology can ensure rapid interventions for individualized patient care. Flexible electronics are expected to widely be applied in the health sector, mainly because use cases are still on an uptrend regarding telehealth and remote monitoring solutions. It encourages healthier patient care and better health care delivery systems in general.
Global Flexible Electronics Market By Type
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Flexible Electronics Market Regional Insights
North America accounted for about 33.0% of revenue share in 2023, followed by the leadership in the flexible electronics market. The primary driver for this growth is the ever-growing demand for wearables and smart devices that have fantastic user experience. Consumers seek merchandise that would seamlessly blend into their lifestyle. This has prompted manufacturers to develop flexible electronics in the shape of humans with subtle features that are comfortable. This trend has resulted in collaborations among design companies, material suppliers, and electronics manufacturers, thereby stimulating creativity and widening the possibilities with flexible electronics.
Asia-Pacific is expected to register the highest CAGR over the estimated period. The increasing requirement for intelligent electric cars and extensive use of consumer electronics in the automotive sector are behind this growth. The growth of the flexible electronics market in Asia-Pacific is expected to be fostered by growing demand for portable and innovative gadgets. Their consumers in Asia Pacific have increasingly paid attention to more useful devices that are lightweight and adaptable without compromising on design. The demand of consumers has been forcing manufacturers to give shape to wearable technology, foldable smartphones, and flexible screens that appeal to changing tastes of tech-savvy customers.
Global Flexible Electronics Market By Geography
- Largest
- Fastest
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Flexible Electronics Market Dynamics
Flexible Electronics Market Drivers
Rising Demand for Wearable Technology
- One key driver of the flexible electronics market is the growing demand for wearable technology. Continuous demands for wearable health and fitness-tracking devices include watches, therefore requiring flexible electronics solutions that are comfortable, strong, and light. Such devices require flexible circuits that easily adapt to a wide range of form factors, and investment in and innovation of flexible electronics technologies are encouraged to meet customer demand.
Technological Developments in Manufacturing
- Technological innovations in manufacturing continue to push the advancement of the flexible electronics industry. Process innovations related to printing and roll-to-roll manufacturing and material research help mass-produce flexible electronics at competitive prices. These advancements enhance the flexibility and reliability of flexible electronics but make production easier as well. The market is expected to be rapid because manufacturers will adopt the new technologies, which provide more extensive applications across industries.
Restraints
Rise in Production Cost
- The primary challenge in flexible electronics is the increased cost of manufacturing due to complex material usage and manufacturing processes. Although there are many benefits of using flexible electronics, special tools and supplies may cost a lot in investment. This economic-related barrier might discourage new small businesses from entering the market, but that may impact competitiveness and slow down innovation.
Lack of Consumer Awareness
- The insufficient knowledge and awareness about flexible electronics by the consumers really limit the markets. In a way, there might also be hesitation on the part of the potential consumer towards embracing these technologies due to a lack of knowledge of the benefits and uses of flexible electronics. Unless aggressive marketing campaigns and education initiatives demonstrate the utility of flexible devices, the ideal situation cannot be achieved. Increased awareness would form a prerequisite for increasing demand and enhancing greater customer acceptability.
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Flexible Electronics Market Competitive Landscape
Major players in the industry are putting more money and resources into printed circuit boards to improve applications. For instance, PCBs will eventually evolve to become little computers that can perceive and process data through the incorporation of advanced sensors and AI. Other factors driving investments in the demand for improvement in performance and miniaturization and a growing new application space, such as wearable electronics and Internet of Things, market share increasing in flexible electronics.
Top Players in the Global Flexible Electronics Market
- 3M (US)
- E Ink Holdings Inc (Taiwan)
- First Solar (US)
- General Electric (US)
- ITN Energy Systems Inc (US)
- LG Electronics (South Korea)
- MFLEX (US)
- Palo Alto Research Center LLC (US)
- Samsung (South Korea)
- Solar Frontier K.K. (Japan)
- Sony Corporation (Japan)
- Sharp Corporation (Japan)
- Kyocera Corporation (Japan)
- AU Optronics Corp. (Taiwan)
- BOE Technology Group Co., Ltd. (China)
- OLEDWorks (US)
- Universal Display Corporation (US)
- Plastic Logic (UK)
- Flex Ltd. (Singapore)
- Nanosys, Inc. (US)
- Heliatek GmbH (Germany)
- Fraunhofer Institute for Organic Electronics (Germany)
- Hanwha Q CELLS (South Korea)
- Taiyo Yuden Co., Ltd. (Japan)
Flexible Electronics Market Recent Developments
- January 2024: Samsung Display unleashed a salvo of cutting-edge technologies at CES 2024, all of which included rollable, slidable, and foldable displays. Featured in the exhibition were micro-displays for immersive extended reality experiences, advanced OLED goods for automobile interiors, professional-use monitors in video production and entertainment, and a 360-degree display experience.
- January 2024: Dracula Technologies had launched its first product at CES 2024 as a device that could charge a flexible film-based storage device by harnessing energy from mini-OPV modules for generating solar power, offering a new perspective in the usage of OPV cells. LayerVault would try to replace traditional batteries and offer end-users more control by grabbing natural and artificial light using OPV inkjet technology by Dracula to power devices.
- November 2023: Materials supplier of laminating and adhesive coatings, FLEXcon Global, together with Dawako Medtech, introduced the WBS Patch as well as the WBS-US patch featuring a new kind of flexible materials through FLEXcon OMNI-WAVE and FLEXcon dermaFLEX, which were used like disposable electrode arrays that could capture biosignals and ultrasonic imaging at the same time during any musculoskeletal movements.
Flexible Electronics Key Market Trends
- Integration of IoT Solutions: IoT technologies are also one of the prominent trends in flexible electronics, where smart, networked devices are made from such to be used as applications of this technology spreading across sectors. In such an application, there is increasing functionality and easier gathering of data for real-time monitoring, especially in the healthcare and smart home industries. Demand for flexible electrical solutions is predicted to grow exponentially with the rapid expansion of the IoT ecosystem.
- Sustainability to the Fore: As greater importance is being given to it, sustainability is emerging as a dominant trend in the business of flexible electronics. Manufacturers are upping their game on materials that are sounder to the environment and techniques of manufacture less harmful to the environment. The main driver for this change is found in consumers looking for environmentally friendly product offerings and legislative push to take greener technology to the next level. Future flexible electronics will be molded by biodegradable material and energy-efficient production techniques that appeal to the environmental-conscious consumer as the industry begins embracing sustainability.
Flexible Electronics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, advancements in manufacturing techniques and increased demand for wearable technologies will surge this market. It is now feasible to manufacture robust, lightweight products that can meet customer needs in any market, such as consumer electronics and healthcare. Still, the production cost of this product is extremely high, and consumer awareness is also very limited, which might limit adoption. Despite such limitations, however, the future of the market depends more on the integration of IoT technology and a growing focus on sustainability. Hence, the market for flexible electronics is expected to grow at an explosive pace in the years to come as the manufacturers address this issue head-on and strive to innovate according to interest.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 25.5 billion |
| Market size value in 2031 | USD 60.67 billion |
| Growth Rate | 10.60% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Flexible Electronics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Flexible Electronics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Flexible Electronics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Flexible Electronics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Flexible Electronics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Flexible Electronics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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