Dublin, 12 Dec. 2022 (GLOBE NEWSWIRE) — The report “Global Flexible Electronics Market Research and Forecast 2022-2028” has been added to from ResearchAndMarkets.com offer.
The global flexible electronics market is expected to grow at a significant CAGR of 15.8% during the forecast period. Rising adoption of flexible devices in different applications such as consumer electronics, rise in demand for compact and power efficient electronics, growing demand for biosensors in healthcare sector is driving the market flexible electronics.
Tedious and time-consuming manufacturing process, the high cost of circuits on rigid PCBs is holding back the market. The introduction of new technologies such as flexible batteries for IoT and wearable devices is the global flexible market opportunity.
Flexible electronics is an electronic circuit assembled from electronic devices on flexible plastic substrates made of polyimides, PEEK or transparent conductive polyester films. 3D printing flexible electronic devices are advancing and have critical applications in the development of prosthetic organs for people with disabilities.
Humanity & Inclusion, an NGO, had manufactured a hundred orthopedic electronic devices for the needy in Madagascar, Togo, Mali, Niger. Such 3D flexible electronic devices can directly print biomedical devices on the patient’s skin, which improves the efficiency of surgery by increasing blood flow and reducing pain. In addition, these devices are used to prepare prototypes in the mechanical and civil industry before giving the actual shape to the projected design. Thus, such innovation will take the growth of the flexible electronics market to new heights.
Impact of COVID-19
The global flexible electronics market has been impacted by the COVID-19 outbreak since December 2019. The lockdowns imposed due to the spread of COVID-19 have reduced the growth rate of the global flexible electronics market.
Flexible electronics components are mostly made in China, and due to the US-China trade war, manufacturers have experienced a shortage of these components. However, the growing work from home culture will generate a huge demand for electronic gadgets which in turn will drive the growth of the flexible electronics market.
The global flexible electronics market is segmented on the basis of components and application. Based on component, the market is segmented into flexible display, flexible battery, flexible sensors, and flexible memory. Apart from this, by application, the market is segmented into consumer electronics, healthcare, automotive, energy & power, defense & aerospace, etc.
The automotive segment holds a major share of the global flexible electronics market
The automotive application of flexible electronics has a major market share attributed to the use of LCD and OLED lighting panels in vehicles as a flexible display. This demand for flexible lighting is expected to grow over the forecast period from major automakers including Ford, Nissan, Toyota, BMW, and Audi. According to an estimate by BNP Media, electronic components will capture 50% of the total production cost of an automobile. Hyundai had worked with LG to implement flexible screens in its electric vehicles.
The use of flexible electronics in the healthcare industry has seen growth due to the spread of COVID-19. Wearable devices are now commonly used to track various health metrics including heart rate, oxygen level, calories gained or burned, and even steps taken in a day. This market is expected to grow significantly over the forecast period.
The consumer electronics segment is the fastest growing segment of the market owing to the increase in the number of smartphone users. The foldable smartphone is an innovation brought about by flexible electronics. For example, Motorola had launched its foldable flagship phone, Moto Razr in 2020. Similarly, Samsung had launched the Galaxy Z Flip phone in March 2020. The demand for smartphones is expected to grow continuously and with this, the flexible electronics market will grow. during the forecast period.
The global flexible electronics market is further segmented on the basis of geography including North America (US and Canada), Europe (Italy, Spain, Germany, France and others), Asia- Pacific (India, China, Japan, South Korea and Others and Rest of the World (Middle East and Africa and Latin America) Due to the presence of the largest semiconductor companies in the region, Asia-Pacific occupies most of the market.
North America is dominant in the global flexible electronics market
The growing military use of flexible electronics in the United States has been attributed to the fastest growing market in the North American region. In addition, the increase in the number of establishments in high-tech industries reinforces this growth.
The growing demand for wearable devices has given the fastest growth to the flexible electronics market in Europe. According to Ericsson, smartphone subscriptions in Western Europe reached 390 million in 2019 and subscriptions in Eastern Europe reached 350 million. For example, Zinergy UK Ltd. launched a new flexible 3V Zinc-Carbon series in 2019.
Market Player Perspectives
Major companies serving the global flexible electronics market include Samsung Electronics Co., Ltd., LG Electronics, 3M, MFLEX, E Link Holdings Inc. and others.
Market players are significantly contributing to the growth of the market by adopting various strategies including mergers and acquisitions, collaborations, financing, and new product launches to stay competitive in the market. For example, OLEDWorks launched Nadarra Lighting in September 2019; E Ink Holdings, Inc. had announced a strategic investment in Plastic Logic HK in June 2019 for the development of flexible EPD devices for wearable applications.
The report covers
Market value data analysis of 2020 and forecast till 2027.
Annualized market revenue ($millions) for each market segment.
Country analysis of major geographic regions.
Key companies operating in the global flexible electronics market. Based on data availability, information related to new product launches and relevant news is also available in the report.
Analysis of business strategies by identifying key market segments positioned for strong growth in the future.
Analysis of market entry and expansion strategies.
Competitive strategies by identifying “who stands where” in the market
Main topics covered:
1. Summary of the report
2. Overview and Market Overview
2.1. Report scope
2.2. Analyst overview and current market trends
2.2.1. Main findings
3. Competitive Landscape
3.1. Key business analysis
3.1.2. Financial analysis
3.1.3. SWOT analysis
3.1.4. RECENT DEVELOPMENTS
3.2. Key strategic analysis
3.3. Impact of Covid-19 on key players
4. Market drivers
5. Market segmentation
5.1. Global Flexible Electronics Market by Components
5.1.1. flexible display
5.1.2. Flexible battery
5.1.3. Flexible sensors
5.1.4. Flexible memory
5.2. Global Flexible Electronics Market by Application
5.2.1. Consumer electronics
5.2.2. Health care
5.2.4. Energy and power
5.2.5. Aerospace and Defense
6. Regional analysis
6.1. North America
6.1.1. United States
6.2.6. The rest of Europe
6.3. Asia Pacific
6.3.4. South Korea
6.3.5. Rest of Asia-Pacific
6.4. Rest of the world
7. Company Profiles
7.1. 3M Co.
7.2. BASF SE
7.3. Blue Spark Technologies
7.4. BrightVolt Solid State Batteries
7.5. Cymbet Corp.
7.6. Dai Nippon Printing Group (DNP)
7.7. E-Link Holdings, Inc.
7.8. Premier Solar, Inc.
7.9. Front Edge Technology, Inc.
7.10. Fujikura, Ltd.
7.11. General Electric Group (GE)
7.12. ITN Energy Systems, Inc.
7.13. Japan Display, Inc.
7.14. LG Electronics
7.15. Multi-Fineline Electronix, Inc.
7.16. Nippon Mektron, Ltd.
7.17. Nitto Denko Corp.
7.18. NOK Corp.
7.19. Palo Alto Research Center, Inc.
7.20. PL Germany GmbH
7.22. Samsung Electronics Co., Ltd.
7.23. SUMITOMO Electric Industries, Ltd.
7.24. ASA thin-film electronics
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