by Flexible electronics refer to electronic devices and circuits that are manufactured on flexible substrates such as plastic and thin films. Flexible electronics find applications in various sectors including consumer electronics, medical devices, automotive and more. Wearable devices powered by flexible electronics help monitor health parameters continuously and transmit real-time data to medical professionals. This allows for remote patient monitoring and fast diagnosis, supporting the growing trend of smart healthcare.
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 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rapidly expanding wearables sector is one of the key drivers boosting the flexible electronics market. Advancements in wearable technology have led to the introduction of smart medical devices integrated with flexible electronic components such as circuits and sensors. Wearables that continuously track vital health parameters are enabling remote patient monitoring and assisting in the management of chronic conditions. This has considerably increased the adoption of smart healthcare solutions relying on real-time data analytics. Further innovations in flexible sensors, displays and circuits are expected to spur new product launches, supporting the uptake of flexible electronics driven by the growing wearables industry.
SWOT Analysis
Strength: Flexible electronics provides enhanced durability, reliability, functionality and comfort as compared to rigid electronics. They can be bent, stretched and twisted without compromising on performance.
Weakness: The higher costs associated with the manufacturing of flexible electronics is a weakness. The processing costs and materials used are more expensive than traditional electronics.
Opportunity: The rise in wearable technologies provide opportunities for flexible electronics to expand into new application areas like smart clothing, rollable displays etc. There is also an opportunity to replace traditional rigid electronics in certain applications.
Threats: Stiff competition from established electronics players who have more resources is a threat. Ensuring quality, consistency and reliability of bendable components at mass production scales also poses challenges.
Key Takeaways
Global Flexible Electronics Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The market is estimated to reach a size of US$ 51.62 billion by 2030, growing at a CAGR of 6.6%.
Regional analysis: Asia Pacific region currently dominates the market with a share of over 35% in 2023. Countries like China, Japan and South Korea are major manufacturing hubs. North America follows Asia Pacific in terms of market share and is witnessing increased adoption of wearables and electronic skins. Growth rates in APAC countries like India are projected to be highest due to rising electronics consumption.
Key players: Key players operating in the flexible electronics market are Samsung, LG Group, Pragmatic Printing, Solar Frontier, Blue Spark Technologies, Panasonic, BrightVolt, Imprint Energy, E Ink, TDK, Anthropic and Henkel. These players are focusing on developing innovative form factors, materials and manufacturing technologies to capture new opportunities in applications like foldable displays, curved TVs etc. Samsung holds the largest market share currently with its portfolio of foldable phones, displays and digital health monitors.
*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.
