by The Flexible Electronics Market is estimated to be valued at US$ 30.71 Bn in 2023 and is expected to exhibit a CAGR of 12.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Flexible electronics refers to technology that utilizes flexible or foldable electronic components that enable the development of wearable displays, foldable smartphones and various healthcare monitoring devices. It allows integration of functional components like sensors, batteries and displays on flexible substrates like plastics and fabrics. Flexible electronics are used to enable new form factors, designs and applications that are not possible with rigid printed circuit boards or silicon substrates.
Market key trends:
One of the key trends driving growth of the Global Flexible Electronics Market is surging demand for wearable electronics. Wearable electronics need flexible components in order to contour to body movement and flex with activity. Products like smartwatches, fitness trackers, augmented reality glasses and medical patches have created opportunities for flexible displays, sensors, batteries and other components. According to the Coherent Market Insights analysis, increasing consumer demand for fitness tracking and health monitoring wearables will fuel adoption of flexible components in this application segment during the forecast period. Developments in foldable smartphones also provide opportunities for flexible displays, touch screens and other components required for flexible form factors.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low as the Flexible Electronics Market requires significant R&D investments and capital to set up manufacturing facilities. Bargaining power of buyers: The bargaining power of buyers is high due to the presence of several product alternatives in the market. Bargaining power of suppliers: The bargaining power of suppliers is moderate due to the availability of substitute components. Threat of new substitutes: The threat of new substitutes is high due to continuous technological advancements. Competitive rivalry: Intense due to the presence of major players.
SWOT Analysis
Strength: Flexible electronics offers features like flexibility, durability and lightweight. Weakness: High costs associated with flexible electronics production. Opportunity: Growing demand for wearable devices and increasing adoption of flexible displays in various industries. Threats: Stiff competition from substitutes like rigid electronics.
Key Takeaways
The global flexible electronics market is expected to witness high growth, exhibiting CAGR of 12% over the forecast period, due to increasing demand for wearable devices. Regionally, North America dominated the market in 2023, owing to early adoption of advanced technologies. Europe is projected to witness fastest growth during the forecast period.
Key players operating in the flexible electronics market are 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. The key players are focusing on new product launches and partnerships to strengthen their foothold in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
