Flexible Electronics Market 2027| LG Corporation, Samsung Electronics, Cambrios, BASF, DaiNippon Printing, ACREO, Solar Frontier, The 3M Company, E Ink Holdings Inc, ITN Energy Systems Inc
The Global Flexible Electronics Market is expected to grow at a CAGR of 15.61% during the forecasting period (2020-2027).
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The rise in the demand for consumer electronics all around the world, coupled with advancement in technology for adoption of energy-efficient electronics are the major factor in driving the market for Flexible Electronics market.
Flexible electronics is a technology for assembling electronic circuits by mounting electronic devices on flexible plastic substrates, such as polyimide, PEEK, or transparent conductive polyester film. Flexible electronic assemblies may be manufactured using identical components used for rigid printed circuit boards, allowing the board to conform to the desired shape, or to flex during its use.
The report covers all the major trends and drivers playing a vital role in the growth of the global Flexible Electronics market. The global Flexible Electronics market has been segmented based on Application, End-User, and Region.
The global Flexible Electronics market growth is primarily driven by the use of flexible electronics widely in consumer electronics like TV, mobile phones, tablets, and others. The growing disposable income of people all around the world is the major reason for the rise in the sales of consumer electronics. Particularly increasing smart devices (like mobile phones, smartwatches, smart camera, and others) penetration across the globe will be the major driver of flexible electronics market in the forecast period.
The growing technology advancements like greater connectivity and automation in the vehicle are placing increasing focus and value on the Human Machine Interface. So, for luxurious, safe, and smart vehicles, automotive manufacturers are increasingly developing automobiles with integrated infotainment systems - systems that provide a combination of entertainment and information for an enhanced in-vehicle experience. Increasing vehicle production will be driving the market for flexible electronics in the following period.
However, the higher cost of flexible electronics than the rigid PCBs is the major factor that will hinder the growth of the Flexible Electronics market for the forecast period.
Market Segment Analysis
By Application, the global Flexible Electronics market is Flexible segmented displays, Sensors, and Optics. The flexible display has the dominant position in the Flexible Electronics Application segment and is expected to retain its dominance in the forecasted period due to growing sales of the smart devices like mobile phones, tablet, TV, and smartwatches as OLCD and OLED displays are significantly used in these for display purposes. With the rise in biometric securities the use of finger sensors in various devices will make the market for sensors grow with a higher CAGR in the forecast period.
By End-User, the global Flexible Electronics market is segmented Consumer Electronics, Healthcare, Automotive, Industrial, and Others. Consumer Electronics has the dominant position in the Flexible Electronics End-User segment and is expected to retain its dominance in the forecasted period due to growing sales of smart devices like mobile phones, tablets, TV, and smartwatches. The segment accounted for more than 50%. It is principally ascribed to the widespread implementation of this technology in smartwatches, tablets, e-papers, e-books, etc.
By geography, the global Flexible Electronics Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
North America holds the largest market share for Flexible Electronics Market, due to high technological advancement and the higher adoption of these advanced technologies by the people in the region. The rise in investments in healthcare is one of the sectors which has continuous advancements in the region. For instance, Investors continue to have a strong appetite for digital health, with investment in the sector totaling $4.2 billion across 180 deals through the first half of 2019. If this pace holds steady, the sector is on track to raise $8.4 billion in 2019 and could top 2018's record-breaking annual funding total of $8.2 billion.
Asia-Pacific is after North America in terms of market share in the global Flexible Electronics market, due to rise in population coupled with the growth in the disposable income in the region is enabling the people in the area to buy consumer electronics and automotive. Hence, rise in the sales of automotive and consumer electronics is expected to grow with the same rate in the region giving high boost to the market for flexible electronics in the region. For instance, Sales of passenger cars grew 2.1% to 2.22 million units last year, the SIAM data showed. SUVs recorded a 2.1% increase to 941,461 units last month. SIAM's automobile sales are counted as factory dispatches and not retail sales.
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Key players are adopting strategies such as investing in R&D, new product launches, expansion in distribution channels to stand out as strong competitors in the market. Global Flexible Electronics Market is a fragmented market with the presence of various global and regional players in the market. The major players include LG Corporation, Samsung Electronics, Cambrios, BASF, and DaiNippon Printing. Other key players in the market include ACREO, Solar Frontier, The 3M Company, E Ink Holdings Inc., and ITN Energy Systems Inc.
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