The Global Flexible Hybrid Electronics Market Propelled By The Rise In Flexible Electronics Adoption
Flexible Hybrid Electronics Market has significant growth prospects in the coming years. Flexible hybrid electronics combines the functionality of conventional rigid printed circuit boards with the mechanical flexibility of plastic, forming multifunctional circuits that conform to nonplanar or curvilinear surfaces. These electronics are finding use in applications such as wearable electronics, medical devices, automotive interior and exterior parts, consumer electronics, and industrial equipment due to advantages such as thinness, flexibility, ruggedness, and lightweight nature.
The global flexible hybrid electronics market is estimated to be valued at US$ 139.62 million 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.
Market key trends:
The rising adoption of flexible electronics across industries such as consumer electronics, automotive, industrial and medical is a major trend fueling the growth of the flexible hybrid electronics market. Flexible hybrid electronics are increasingly being used to develop innovative and intuitive wearable consumer electronic devices as well as medical devices like flexible patches. The automobile industry is also leveraging the benefits of flexible hybrid electronics to develop advanced lighting, display and sensor systems integrated into curved surfaces for better functionality and aesthetics. Furthermore, the capability of flexible hybrid electronics to withstand harsh environmental conditions is driving its adoption in industrial equipment. Ongoing technological advancements aimed at improving the reliability and manufacturing yield of flexible hybrid systems will further accelerate market growth over the coming years.
SWOT Analysis
Strength: The flexible hybrid electronics market offers solutions that provide design flexibility, durability, and reduced weight compared to rigid printed circuit boards.
Weakness: High costs associated with the manufacturing of flexible hybrid electronics.
Opportunity: Growing adoption of IoT and wearable devices offers potential opportunities for increased usage of flexible hybrid electronics.
Threats: Availability of alternative technologies like printed and flexible electronics pose competition to the flexible hybrid electronics market.
Key Takeaways
The Global Flexible Hybrid Electronics Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The North America region currently dominates the market due to high presence of key players and investors in the region.
Regional analysis: North America holds the major share of the flexible hybrid electronics market currently due to presence of leading manufacturers and investors in the US and Canada. The growth in the region can be attributed to major technological advancements and continuous developments carried out by established as well as emerging players.
Key players: 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. These players are focusing on new product launches and collaborations to strengthen their market position.
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