by Flexible electronics are electronic devices fabricated on flexible substrates including plastics, glass, and metal foils that can be bent, twisted, stretched or flexed like a sheet of paper without structural damages. Flexible electronics find application in health monitoring devices, electronic paper, flexible displays, smart packaging, and many more. The miniaturization of electronic components has enabled new possibilities of flexible and wearable devices through flexible electronics.
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 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The miniaturization of electronic components has been a major trend in the flexible electronics market. Advancements in nanotechnology and semiconductor industry has led to the development of ultrathin and lightweight components like transistors, sensors, capacitors and many others which can be integrated onto flexible and thin substrates. This has enabled new form factors and designs in consumer electronics. For instance, flexible displays are becoming thinner and lighter compared to traditional rigid displays. Wearable devices and electronic skins are also gaining traction with the availability of miniaturized components that can conform to human body. Miniaturization is thus key to enabling the next generation of conformable and wearable electronics.
SWOT Analysis
Strength: Flexible electronic products offer many advantages over rigid electronics such as light weight, flexibility, thinness and robustness. They can easily conform to non-linear surfaces.
Weakness: Production costs of flexible electronics are currently higher than conventional rigid electronics. Lifespan and durability of flexible electronic devices need improvements.
Opportunity: Growing demand for wearable devices, E-textiles and near-future technologies such as foldable smart phones presents major market opportunities. Flexible electronics can enable new product concepts and form factors.
Threats: Stiff competition from established rigid electronics manufacturers. Dependency on new and emerging technologies which are currently under development poses risks.
Key Takeaways
Global Flexible Electronics Market Size is expected to witness high growth during the forecast period of 2023 to 2030.
Regional Analysis: North America region is currently the largest market for flexible electronics due to high penetration of smartphones and wearable devices. Europe is also a significant regional market with presence of major players like Ceva Logistics AG and Kuehne + Nagel International AG.
Key players operating in the flexible electronics market are Ceva Logistics AG, Kuehne + Nagel International AG, DHL International GmbH, Ryder System, Inc., United Parcel Service, Inc., DB Schenker, XPO Logistics, Inc., DSV A/S, Nippon Express Co., Ltd. and Geodis. Ceva Logistics AG is a major global logistics company with specialized services in automotive and industrial sectors. Kuehne + Nagel International AG is another leading player providing sea, air, road transport services across 100+ countries.
*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, chemicals and materials, defense and aerospace, consumer goods, etc.
