by Flexible hybrid electronics integrate both printed and flexible electronics on plastic or textile substrates. It facilitates the fabrication of conformal flexible circuits on thin, lightweight polymeric substrates which can easily be integrated in applications such as wearable electronics, electronic textile, and disposable electronics. Flexible hybrid electronics enable the manufacturing of flexible units such as smart labels, smart packaging, bendable displays, and electronic skin.
The global Flexible Hybrid Electronics Market is estimated to be valued at US$ 139.62 Mn in 2023 and is expected to exhibit a CAGR of 23% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Wearable electronics such as smartwatches, smart glasses, and fitness bands extensively use flexible hybrid electronic components such as flexible displays, flexible batteries, and flexible sensors. Flexible hybrid electronics enable the manufacturing of lightweight, thin, and conformal wearable devices. According to Coherent Market Insights analysis, the shipment of wearable devices reached 495.6 million units in 2021 and is expected to surpass 1 billion units by 2026.
The other key driver for the flexible hybrid electronics market is the increasing demand for disposable electronic devices in applications such as medical devices, electronic packaging, and electronic textiles. Disposable electronics are manufactured using flexible components such as displays, batteries, and sensors on substrates like plastic or textiles. The demand for single-use medical diagnostic devices, smart packaging, and electronic textiles is growing exponentially owing to rising awareness regarding health and hygiene which is fueling the adoption of disposable electronics.
SWOT Analysis
Strength: Flexible hybrid electronics combines the functionality of printed electronics with mechanical flexibility and stretchability, allowing for novel product designs and applications not possible with traditional rigid printed circuit boards. The ability to conform and adhere these circuits to irregular or contoured surfaces could enable new design paradigms. Flexible circuits are lightweight and low cost as well.
Weakness: The technology is still quite new and not fully mature yet. Product reliability and yields may still be a concern at this stage. Performance of flexible circuits may lag more traditional rigid printed circuit boards in some aspects like speed and current capacity.
Opportunity: Wearable devices and e-textiles are major application areas that could exploit the flexibility, conformability and stretchability offered. Medical devices and sensors, especially temporary or disposable versions could benefit. Future developments in areas like electronic skin or screens that can wrap around irregular surfaces.
Threats: Acceptance and uptake of new technology depends on proving performance and reliability advantages over established alternatives. Commoditization and price declines of traditional rigid PCBs may slow adoption. Technology leaders in related areas could emerge as stronger competitors.
Key Takeaways
The Global Flexible Hybrid Electronics Market Demand is expected to witness high growth over the forecast period 2023 to 2030. The market is forecast to expand at a robust CAGR of 23%. By 2030, the market size is projected to reach US$ 139.62 Mn from US$ 43.75 Mn in 2023.
Regional analysis: Asia Pacific region currently dominates globally with a 40% market share in 2023. Countries like China, South Korea, Japan are major manufacturing hubs and early technology adoption is driving regional leadership. North America follows with a 25% share and is expected to maintain high growth on the back of large healthcare and consumer electronics sectors actively pursuing flexible hybrid electronics.
Key players: Key players operating in the flexible hybrid electronics market are Atlas Copco AB, Caterpillar, Inc., Hitachi Construction Machinery, Komatsu Limited, Sandvik AB, Columbia Steel Casting Co., Inc., Doosan Corporation, USCO S.p.A, Volvo AB, and MB America, Inc. The market has witnessed increased merger and acquisition activities as large conglomerates look to strengthen technological capabilities and portfolio in this emerging field. Regional players also play a significant role, particularly for local opportunities in wearables and medical devices segments. Continuous investment in R&D will be important for companies looking to differentiate through intellectual property and commercialize next-gen applications.
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.
