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.
Flexible electronics allow the integration of electronic components into unlike surfaces while maintaining mechanical properties. They enable innovative designs of lightweight, thin, and durable devices. Their flexibility enables new product features such as wearable gadgets that can be rolled, folded, twisted, and stretched.
Market key trends:
One of the key trends driving the growth of the flexible electronics market is the increasing demand for electronic skin or e-skin. E-skin is a flexible material designed to mimic human skin, capable of sensing touch, temperature, strain, and other environmental stimuli. It has applications in robotics, prosthetics, touch screens, and health monitoring. Multiple research initiatives focus on developing highly sensitive, stretchable and biocompatible e-skin using flexible electronics for future smart sensors and medical devices.
The Global Flexible Electronics Market is segmented into display, battery, sensing, and others. The display segment dominates the market and is expected to remain dominant during the forecast period. Flexible displays are gaining traction due to potential applications in curved televisions, smartphones, and tablets. They offer improved resolution and response time compared to traditional displays. Within the display segment, OLED displays hold the largest share due to advantages such as thin profile, low power consumption, and flexible design.
The global flexible electronics market is expected to witness high growth, exhibiting a CAGR of 12% over the forecast period, due to increasing demand for energy efficient and flexible devices.
The Asia Pacific region is expected to dominate the global flexible electronics market during the forecast period. Rapid industrialization and growth of consumer electronics industry in countries such as China, Japan, South Korea is driving the demand for flexible electronics in the region. In addition, presence of key manufacturing hubs and flexible electronics material suppliers in the region makes it attractive for market growth.
Key players operating in the flexible electronics market includes 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 new product development and collaborations with application developers to strengthen their position in the global market. For instance, in August 2022, Enfucell announced a partnership with Siemens to develop flexible energy storage solutions for medical wearables and hearables.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it