Flexible Electronics Market to Register a high CAGR until 2028
Growing demand for miniaturization
of electronic products and increasing technological advancements are expected to increase the
demand for the global flexible electronics market during the forecast period of
2024-2028.
According to TechSci Research
report, “Flexible Electronics
Market – Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2018–2028,” the Global Flexible
Electronics Market is anticipated to register a robust growth during the
forecast period, 2024-2028 due to increased demand for portable and smart
electronics goods. Moreover the flexible electronics market is
anticipated to expand over the projected period due to rise in sales of
Internet of Things (IoT) devices.. Additionally, the industry is growing even
faster because of the development of printed electronics, which opens up
attractive potential for a variety of applications. According to these
considerations, the global flexible electronics market is predicted to rise
rapidly in the next years.
Additionally, the
development of materials and assembly processes, as well as the miniaturization
of electronic devices for faster operational speed, are additional significant
factors that are anticipated to propel the expansion of the global flexible
electronics market in the forecast years. A few other reasons that are
projected to fuel the expansion of the global flexible electronics market
include the expanding client base in the electronics sector and the increased
use of organic solar cells.
On the other hand, the
adoption of flexible electronics in the production of electronic products is
being driven by the rising complexity of designs for various electronic items,
like smartphones, tablets, laptops, and smartwatches. The production of more
varied forms of flexible and compact electronic devices is encouraged by the
large range of devices produced across numerous industries, including
healthcare, the military, aerospace, and many more. In the upcoming years, the
need for flexible electronics is expected to increase due to ongoing projects
involving the creation of numerous smart cities in various nations.
Additionally, as flexible electronics are used in LEDs and OLEDs, the market is
likely to rise as a result of the increasing adoption of these technologies.
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Global
Flexible Electronics Market is segmented into applications,
circuit structure, end use industry, region and competitive landscape.
On the basis of
applications, displays are expected to be the dominating segment in the Global Flexible
Electronics Market owing to the widespread use of displays in consumer
electronics goods like laptops, smartphones, and tablets. In addition, foldable
smartphones are becoming more popular, which is anticipated to fuel the
expansion of the global flexible electronics industry.
The batteries
segment on the other hand, is anticipated to have the fastest growth during the
projection period owing to the proliferation of the technologies like IoT and
AI and its adoption in various wearable devices requiring compactness and
energy efficiency, which fuels the growth of this segment. With the decreasing
size of the electronic devices, the demand for the efficient and long-lasting
compact batteries is also increasing rapidly, and hence this segment is
expected to offer lucrative growth opportunities during the forecast period.
On the basis of
regional analysis, North America is the largest market for flexible electronics
worldwide due to the increasing demand for smart wearables. For
instance, according to Ericsson, the number of smartphone subscriptions in
North America is estimated to reach 358 million by 2027, based on the steady
growth seen in earlier years. Americans owned approximately 328 million
smartphones as of 2021, which is expected to augment the demand for flexible
electronics in the North American region.
Major
market players operating in the Global Flexible Electronics Market are:
- E Ink Holdings Inc.
- Blue Spark Technologies
- Samsung Electronics Co.
Ltd
- LG Electronics Inc.
- Enfucell Flexible
Electronics Co. Ltd.
- Cymbet Corporation
- AU Optronics Corp.
- Imprint Energy Inc.
- Palo Alto Research
Center Incorporated
- Solar Frontier
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“The growing demand for
wearable technologies, as well as the rising investments in the construction
and development of organic flexible photovoltaic cells, touch-sensing skin, and
IoT is likely to augment the demand for flexible electronics during the forecast
period. Furthermore, during the forecast period, the market for flexible
electronics will rise due to an increase in research and development by
numerous institutions as well as the emergence of top competitors and producers
of flexible electronics technology. Additionally, it is projected that in the
upcoming years, the desire for portable renewable energy resources, population
expansion, and an increased need for accurate and effective monitoring of
physical conditions would all contribute to the growth of the flexible
electronics.”, said Mr. Karan Chechi, Research Director with TechSci Research,
a research-based global management consulting firm.
“Flexible
Electronics Market - Global Industry Size, Share, Trends, Opportunities, and
Forecast, 2018-2028 Segmented By Applications (Displays, Sensors,
Thin-Film Photovoltaics, Batteries, and Others), By Circuit Structure
(Single-Sided Flexible Circuit, Double-Sided Flexible Circuit, Multilayer
Flexible Circuit, Sculptured Flexible Circuit and Others), By End Use Industry
(Consumer Electronics, Healthcare, Military & Defense, Automotive, Others),
By Region, ” has evaluated the future growth
potential of Global Flexible Electronics Market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Flexible Electronics Market.
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