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Flexible Electronics Market Size 2022 : Industry Analysis, Share, Segmentation, Price Trends, Regional Analysis and Forecast 2033
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Market Drivers: The rapid adoption of consumer gadgets such as smartphones, laptops, and tablets is a key factor fueling market growth. According to research by the Indian Cellular and Electronics Association (ICEA), India's smartphone market grew by 14.5% in 2018, reaching 142.5 million devices. The smartphone user base in the country was expected to hit 829 million by 2022. Similarly, in the U.S., smartphone usage increased from 27% in 2011 to 68% in 2019, according to the National Telecommunications and Information Administration (NTIA). This growing reliance on digital devices is expected to propel demand for flexible electronics.
Government initiatives worldwide are also playing a role in boosting the market. India's Digital India program, aimed at expanding digital access, is one such example. As digitalization accelerates, the need for high-performance, flexible components in smart devices continues to grow.
In the healthcare sector, demand for advanced medical equipment is rising. Consumers prefer minimally invasive diagnostic and surgical procedures, increasing the use of flexible sensors and batteries in medical devices. For instance, in May 2022, Vivalink introduced a multi-vital blood pressure patch that leverages flexible electronics to track key health metrics such as heart rate and ECG data.
Market Restraints: Despite strong growth potential, a major challenge facing the flexible electronics market is the lack of consumer awareness. Many consumers are still unfamiliar with the advantages of flexible electronics, such as their durability, lightweight nature, and adaptability. This knowledge gap leads to hesitation in adoption, making it harder for manufacturers to justify investments in production and marketing. Overcoming this challenge will require greater education efforts and strategic marketing campaigns to highlight the benefits of flexible electronics.
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Market Segmentation: The flexible electronics market is segmented based on application into consumer electronics, automotive, medical and healthcare, energy and power, aerospace and defense, and others. In 2023, consumer electronics held the largest market share. Flexible OLED and e-paper displays are being widely used in smartphones, smartwatches, and wearables, making devices more compact, durable, and visually appealing.
The automotive sector is also witnessing rapid adoption of flexible electronics. Curved infotainment and instrument displays, head-up displays, flexible lighting, and sensors for safety applications such as collision detection and airbag deployment are enhancing vehicle design and performance. The growing demand for smart and connected vehicles is expected to further boost the market in the coming years.
Flexible Electronics Top Companies and Competitive Landscape
The flexible electronics industry moves ahead at a rapid clip. Material and manufacturing advances enable lightweight devices, bendable, whilst this kind of electronics, from wearables to meddevices and smart textiles are increasing in usage for far more functionality and user convenience.
Some of the major contributors in this field are Samsung, LG Display, and Imprint Energy Inc., who are extensively investing in research and development to innovate on flexible display technologies. Companies like Thinfilm and PragmatIC Semiconductor are specialising in flexible integrated circuits and sensors, providing opportunities in other markets for flexible electronics. This is because the more flexible technology in electronics is likely to increase, promising exciting developments in consumer and industrial applications.
In May 2023, Samsung presented three future foldable display concepts: a double-folding OLED panel with a 7.2-inch screen, a slidable OLED display, and a 17-inch foldable panel for a prospective Galaxy tablet. Samsung also demonstrated an under-panel camera (UPC) display in a concept notebook, aiming for edge-to-edge panels. These improvements highlight Samsung's dedication to remaining at the forefront of foldable technology in the face of increased industry competition.
Some of the key companies in the global Flexible Electronics market include:
Blue Spark Technologies, Inc
AU Optronics Corp
Palo Alto Research Center Incorporated
E Ink Holdings Inc.
Imprint Energy Inc
LG Electronics
Solar Frontier
Enfucell SoftBattery
Cymbet Corporation
Flexible Electronics Latest Industry Updates
In November 2023, Solar Frontier, a Japanese CIS thin-film PV module maker, discontinued thin-film production and introduced its first monocrystalline solar panel, the SFB250-88A, with a 250 W capacity for the residential market. This move is part of the company's transition to being a PV system and OEM panel maker. The new panel has a 22% higher yield than prior CIS modules and comes with a 20-year performance guarantee.
In January 2023, LG Display introduced its latest OLED panels for TVs and monitors at CES 2023, with a maximum brightness of 2,100 nits, a 60% increase over its previous premium OLED panels. The third-generation OLED panels also provide better viewing angles and power efficiency thanks to the usage of microlens technology and a new algorithm. LG Display refers to this suite of technologies as META Technology, which improves brightness and visibility in a variety of situations.
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The main report offers detailed historical data and forecasts revenue growth at a global, regional, and country level, and provides analysis of the market trends in each of the segments from 2020 to 2033:
Flexible Electronics Market Segmentation Analysis
Application Outlook (Revenue, USD Billion; 2020-2033)
Consumer Electronics
Automotive
Medical and Healthcare
Energy and Power
Aerospace and Defense
Others
Component Outlook (Revenue, USD Billion; 2020-2033)
Flexible display
Flexible battery
Flexible sensors
Flexible memory
Flexible photovoltaics
Regional Outlook (Revenue, USD Billion; 2020-2033)
North America
United States
Canada
Mexico
Europe
Germany
France
United Kingdom
Italy
Spain
Benelux
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Rest of Latin America
Middle East and Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA
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Flexible Electronics Market Size @https://www.emergenresearch.com/industry-report/flexible-electronics-market/market-size
Flexible Electronics Market Share @https://www.emergenresearch.com/industry-report/flexible-electronics-market/market-share
Flexible Electronics Market Trends @https://www.emergenresearch.com/industry-report/flexible-electronics-market/market-trends
Flexible Electronics Regional Market Demand @https://www.emergenresearch.com/industry-report/flexible-electronics-market/regional-market-demand
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