The global Flexible Hybrid Electronics Market is estimated to be valued at US$ 139.62 Mn in 2023 and is expected to exhibit a CAGR of 10.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
The Flexible Hybrid Electronics Market involves development and manufacturing of flexible or conformable electronic devices that consist of a flexible or stretchable hybrid construct combining electronic and ionic components assembled on plastic or thin-film substrates. Flexible Hybrid Electronics has applications in areas including wearable electronics, e-textiles, implantable medical devices, RFID and sensors which can be embedded in physical environments. Flexible Hybrid Electronics allow electronics to become a part of any object and allow for devices to be conformal with surfaces. This opens new design freedom and usage models compared to rigid electronics.
Market key trends:
One of the key trends in the Flexible Hybrid Electronics Market is the rising adoption of Flexible Hybrid Electronics to enable wearable electronics. Wearable electronics industry is growing rapidly with applications in fitness tracking, medical monitoring and consumer electronics. Flexible Hybrid Electronics allow electronics to be embedded in clothing, patches or form-fitting bands in a lightweight and conformal manner which is important for comfort in wearables. This is driving widespread research and development of flexible sensors, batteries, displays and circuits using Flexible Hybrid Electronics technology for next generation wearable devices.
Threat of new entrants: The threat of new entrants is low as it requires a huge amount of capital investment to establish new manufacturing units and R&D centers for developing flexible hybrid electronics. Bargaining power of buyers: The bargaining power of buyers is moderate as the market is fragmented with several vendors offering similar products at competitive prices. Bargaining power of suppliers: Due to specialized nature of raw materials and shortage of skilled workforce required for manufacturing flexible hybrid electronics, the bargaining power of suppliers is high. Threat of new substitutes: The threat of new substitutes is low as flexible hybrid electronics provide unique features compared to traditional rigid electronics.
Competitive rivalry: Competition is intense among existing players to capture more market share.
The Global Flexible Hybrid Electronics Market Size is expected to witness high growth, exhibiting a CAGR of 10% over the forecast period, due to increasing demand for wearable devices and medical devices.
North America dominates the global flexible hybrid electronics market currently due to technological advancement and presence of key players in the region. Asia Pacific is expected to exhibit the fastest growth owing to growth of consumer electronics and automotive industries in China and India.
Key players operating in the flexible hybrid electronics market are DuPont Teijin Films, PARC (Xerox Corporation), General Electric Company, Lockheed Martin Corporation, American Semiconductor Inc., Flex Ltd., Brewer Science Inc., Integrity Industrial Inkjet Integration, and SI2 Technologies Inc.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it