Press release
Flexible Electronics Market Anticipated To Witness Robust Growth, Surpassing $69.94 Billion By 2029
Flexible Electronics
What Is the Current Flexible Electronics Market Size and Its Estimated Growth Rate?
In recent times, the size of the flexible electronics market has seen a swift expansion. The market, which was worth $36.22 billion in 2024, is expected to surge to $41.47 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 14.5%. The impressive growth during the historic period is due to factors such as the miniaturization of consumer electronics, applications in medical and healthcare sectors, advancements in printed electronics, and uses in defense and aerospace sectors, along with display innovation.
In the coming years, the market size for flexible electronics is anticipated to expand significantly. The market is estimated to reach $69.94 billion by 2029, with a compound annual growth rate (CAGR) of 14.0%. Factors contributing to this expansion during the projected period include the subjection of devices to folding and rolling, the use of renewable energy, sustainability and eco-friendliness of electronics, applications in automobile exteriors, and energy storage solutions like flexible batteries. The forecast period is expected to be marked by trends such as wearable technology for health and fitness, incorporation of the internet of things (IoT), wearable medical devices and implants, flexible sensors and robotics, 5G connectivity, and flexible antennas.
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How Are Emerging Segments Shaping the Flexible Electronics Market Landscape?
The flexible electronics market covered in this report is segmented -
1) By Component: Flexible Display, Flexible Battery, Flexible Sensors, Flexible Memory, Flexible Photovoltaics
2) By Circuit Structure: Single-Sided, Double-Sided, Other Circuit Structures
3) By Application: Displays, Thin-Film Photovoltaics, Printed Sensors, Batteries, Organic Light Emitting Diodes (OLED) Lighting, Other Applications
4) By Vertical: Consumer Electronics, Energy And Power, Healthcare, Automotive, Military And Defense, Aerospace, Other Verticals
Subsegments:
1) By Flexible Display: OLED Displays, LCD Displays, EPD Displays
2) By Flexible Battery: Lithium-Ion Flexible Batteries, Solid-State Flexible Batteries
3) By Flexible Sensors: Pressure Sensors, Temperature Sensors, Touch Sensors
4) By Flexible Memory: Flexible SRAM, Flexible Flash Memory
5) By Flexible Photovoltaics: Organic Photovoltaics (OPV), Thin-Film Photovoltaics
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Which Growth Factors Are Influencing Flexible Electronics Market Expansion?
The surge in demand for consumer electronic devices is propelling the expansion of the flexible electronics market. Consumer electronics (CE), which are electronic tools purchased and frequently used by consumers for non-commercial or professional uses, utilize flexible electronics in most electronic appliances. Hence, a surge in demand for consumer electronics bolsters the flexible electronics market. For example, in January 2023, LG, a South Korea-based consumer electronics firm, reported its largest annual revenue ever, exceeding $60 billion for the first time in company history in 2022, up 12.9% from 2021 when sales surpassed approximately $52.70 billion for the first time. LG Home Appliance & Air Solution Company also achieved record-breaking revenue of $22.5 billion in 2022, a 10.3% increase from the previous year. Consequently, the accelerative demand for consumer electronics fuels the growth of the flexible electronics market.
Who Are the Dominant Players Across Different Flexible Electronics Market Segments?
Major companies operating in the flexible electronics market include Blue Spark Technologies Inc., OLEDWorks LLC, AU Optronics Corp., Cymbet Corporation, E Ink Holdings Inc., Enfucell Oy, Flex Ltd., FlexEnable Ltd., Flexpoint Sensor Systems Inc., Imprint Energy Inc., LG Electronics Inc., Palo Alto Research Center Incorporated, Royole Corporation, Samsung Electronics Co. Ltd., Solar Frontier K.K., LG Corporation, Enfucell Flexible Electronics Co. Ltd., E Ink Holdings, Jabil Inc., Bebop Sensors Inc., Sensing Tex SL, Coatema Coating Machinery GmbH, Agfa-Gevaert NV, GSI Technologies, Ynvisible Interactive Inc., Isorg SA, PragmatIC Semiconductor, Thales Digital Factory, StoreDot Ltd.
What Are the Latest Developing Trends in the Flexible Electronics Market?
Innovations in technology are influencing the direction of the mobile gaming market. The surge in mobile gaming technology is boosting market needs, facilitated by advancements in technology. For instance, in 2022, America's Flexible Hybrid Electronics (FHE) Manufacturing Institute, NextFlex introduced Project Call 7.0 (PC 7.0). The call for proposals aims at funding initiatives that encourage the growth and implementation of FHE to resolve pressing issues in advanced manufacturing and support Department of Defense priorities. PC 7.0 is based on the successful model of previous Project Calls that cater to a broad atypical proposer base with a significant emphasis on areas where FHE can make a difference in high-priority U.S. manufacturing prospects and emerging sectors of importance in the FHE community.
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Which Geographic Regions Are Expected to Dominate the Flexible Electronics Market in the Coming Years?
Asia-Pacific was the largest region in the flexible electronics market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the flexible electronics market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Flexible Electronics Market?
2. What is the CAGR expected in the Flexible Electronics Market?
3. What Are the Key Innovations Transforming the Flexible Electronics Industry?
4. Which Region Is Leading the Flexible Electronics Market?
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