Flexible Electronics Market Size, Share, Trends, Growth and Forecast 2028

The global Flexible Electronics Market accrued earnings worth approximately 13.2 (USD Billion) in 2021 and is predicted to gain revenue of about 30.25 (USD Billion) by 2028, is set to record a CAGR of nearly 21% over the period from 2022 to 2028.

The study provides assessment and analysis of the Flexible Electronics Market on a global & regional level. It offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2021 along with a forecast from 2022 to 2028 based on revenue (USD Billion).

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Flexible Electronics Market: Outlook

Flexible electronics is a technique used for assembling electronic circuits through mounting of electronic equipment on flexible plastic substrate including transparent conductive polyester, polyimide, and PEEK. These flex circuits can be screen printed silver circuits on polyester. Furthermore, humungous demand for flexible electronics is due to its low manufacturing costs, ruggedness, portability, and light-weight. Moreover, flexible electronics assemblies can be produced through use of identical components utilized for rigid printed circuit boards, thereby helping board to adapt to a required shape. Furthermore, flexible electronics finds plethora of application in gaming & entertainment sectors owing to its ability to roll, curve, fold, flex, and conform.

Flexible Electronics Market: Growth Dynamics

Growth of flexible electronics market over forecasting period is due to surge in sale of connected devices along with favorable policies of government towards use of flexible electronics. In addition to this, rise in portable products and smart electronics goods demand will prompt expansion of flexible electronics industry. Rapid surge in printed electronics will augment growth of flexible electronics industry. Breakthroughs in grid connection, displays, health monitoring system, power integration, and lightning technologies will enlarge scope of flexible electronics market. Escalating demand for compact electronic equipment across various sectors such as defense, automotive, consumer electronics, and healthcare will create new growth avenues for flexible electronics industry.

Moreover, onset of new technologies such as AI and IoT will open new vistas of growth for flexible electronics industry over forecasting timeline. Huge penetration of smart wearable equipment coupled with breakthroughs taking place in in-mold electronics will result in increment of size of flexible electronics market. Surge in acceptance of electronic parts in automotive sector is set to boost flexible electronics industry progression in years to come.                

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Flexible electronics also known as flex circuits is a technology for assembling a flexible electronic device Flex circuits are often used as connectors in a variety of applications including flexibility, space savings, or production constraints, limit the serviceability of rigid circuit boards or hand wiring. A general application of flex electronics is in computer keyboards. Flexible electronic devices are lightweight & compact, ultra-thin, generate low heat and consume little energy.

The flexible electronics market is primarily driven by individual features of flexible circuits and increasing consumer goods industry. The global flexible electronics market is expected to show rapid growth due to the continuous technological development and high demand in consumer electronics market. Moreover, Consumer electronic devices like smart watches, smart glasses, smartphones, e-books, and e-papers are creating demand for flexible electronics devices. However, increasing competition from newest technologies such as printed electronics LCD, LED, etc.  may limit the flexible electronics market growth. Nonetheless, high penetration in multiple applications such as military, digital signage & energy harvesting applications is expected to open new growth avenues for the market.

Flexible Electronics Market: Segmentation

Based on components, the global flexible electronics market is segmented into displays, battery, sensors and memory. Display component segment dominated the flexible electronics market in terms of revenue and accounted for over 48% share of the overall market in 2015. The battery segment is expected to witness  moderate growth rate over the forecast period.

Based on application segment in flexible electronics market includes automotive, consumer electronics, healthcare and industrial applications. Consumer electronics segment dominated the flexible electronics market in 2015, which accounted for 52% market share of the total market. It is expected to grow at a significant rate over the next few years. Healthcare segment is expected to witness a steady growth during the forecast period. The automotive and industrial segment is also expected to grow at substantially over the next few years.

Breakthroughs Witnessed in Flexible Electronics Market

Effective strategies adopted by business players have played a key role in growth of flexible electronics market in recent years. Let us discuss a few of them and roles played by these players in leveraging industry growth:

• In September 2021, LG Chemical developed novel technology that can be utilized for foldable displays by using new material tools as well as coating technologies. This will help the firm enter & expand into next-generation materials industry within next few years.
• In February 2022, Eaton Corporation PLC and LG Electronics joined hands to facilitate effective & seamless operations of flexible household energy management. As per the agreement, Eaton smart breakers & EV charging technology will sync with LG energy management services, thereby offering critical information & load management for solar & storage applications.

Flexible Electronics Market Report Scope:

Flexible Electronics Market: Regional Insights

North America To Make Massive Contributions Towards Overall Market Size By 2028

In terms of geography, North America is one of the largest markets for flexible electronic in the world and accounted for over 28% share of the total market in 2015. Europe is also expected grow at a moderate rate in the years to come. Moreover, Asia-Pacific is expected to witness the fastest growth during the forecast period.

Expansion of flexible electronics market in North America over forecasting timespan is owing to surge in use of digital & electronic parts in production of various consumer electronic equipment. Apart from this, immense use of flexible electronics in healthcare and automotive sectors will steer growth of flexible electronics industry in sub-continent over upcoming years. Escalating popularity of technologically advanced devices and designer equipment among end-users will account majorly towards regional market size.

Flexible Electronics Market: Competitive Insights

• Solar Frontier Kabushiki Kaisha
• Samsung Electronics Co.
• Multi-Fineline Electronix
• Pragmatic Printing Ltd.
• The 3M Company
• PARC
• LG Corporation
• Thinfilm Electronics ASA
• Cymbet Corporation

The global Flexible Electronics Market is segmented as follows:

By Component

• Display
• Battery
• Sensors
• Memory

By Application

• Automotive
• Consumer Electronics
• Healthcare
• Industrial

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa