Display (Organic Light-Emitting Diode) Is The Largest Segment Driving The Growth Of Flexible Electronics Market
The global 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 are electronic devices that conform to non-planar or intrinsically non-flat surfaces. These electronic devices can be constructed on thin, lightweight and durable substrates such as plastic, instead of conventional silicon wafers. Flexible electronics are increasingly being used in electronic displays, lighting, and photovoltaic applications to offer advantages such as physical flexibility, mechanical robustness and design versatility.
Market key trends:
The emergence of roll-to-roll manufacturing technologies is one of the major market trends in the global flexible electronics market. Roll-to-roll manufacturing involves processing electronic devices on rollable metal foils or polymer substrates using continuous, high-throughput, fully automated processes. This enables mass production of flexible electronics at a considerably lower cost compared to traditional photolithography processes. Flexible electronics manufactured via roll-to-roll processes have wide application in displays, lighting and photovoltaics and are expected to drive significant growth of the global flexible electronics market over the forecast period.
Market key trends:
The Global Flexible Electronics Market has been witnessing robust growth over the past few years. One of the major trends driving this market is the rising adoption of flexible sensors in wearable devices. Wearable devices use flexible sensors to measure different body parameters. These sensors can be integrated into fabrics and other flexible substrates while retaining their functionality. Flexible sensors enable new design possibilities for wearable devices and offer more ergonomic form factors. The use of flexible displays is another key trend shaping the flexible electronics industry. Companies are extensively researching ways to develop lightweight, shatterproof, and rollable displays using plastic substrates instead of glass. Such flexible displays are more durable and can be incorporated into various form factors including foldable smartphones and tablets.
SWOT Analysis
Strengths: Flexible electronics offer design flexibility and new form factor options. They enable lightweight, portable, and durable devices.
Weaknesses: Manufacturing challenges and high costs of production. Limited memory capabilities as compared to rigid boards.
Opportunities: Growing demand for wearables, e-textiles, and bendable/foldable consumer devices will drive growth.
Threats: Stiff competition from conventional rigid electronics. Requirement of huge investments in R&D for technology development.
Key Takeaways
The global flexible electronics market is expected to witness high growth, exhibiting CAGR of 12% over the forecast period of 2023 to 2030, due to increasing demand for wearable devices.
The global flexible electronics market size for 2023 is estimated to be US$ 30.71 Bn. Asia Pacific dominates the global market currently due to the presence of major electronic goods manufacturers in countries such as China, Taiwan, and South Korea. China has emerged as the largest manufacturer of flexible electronics globally.
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. These players are focusing on developing innovative and affordable flexible display and sensor technologies through heavy investments in R&D.
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