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The flexible electronics market size is projected to reach a value of USD 25.69 billion with a CAGR of 10.87% between 2023 and 2028. The market is experiencing significant growth, driven by capacity expansion plans and the advent of conceptual flexible display products. However, the market faces challenges, including the lag in mass production of flexible OLED displays. Capacity expansion plans are a major growth factor, with companies investing heavily in new facilities to increase production capacity. The emergence of flexible display products, such as foldable mobile devices and the growing adoption of wearable technology are also fueling market growth. Despite these opportunities, the mass production of flexible OLED displays remains a challenge due to technical complexities and high production costs. This issue is hindering the widespread adoption of flexible electronics and limiting market growth. However, ongoing research and development efforts are expected to address these challenges and drive the market forward. The market is rapidly expanding, supported by innovations like flexible printed batteries, flexible lithium-ion technology, and thin-film technologies. FOLED technology and organic light-emitting diodes (OLED) are revolutionizing devices like AR glasses, offering greater versatility and performance
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The flexible electronics market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The flexible electronics market is witnessing growth in innovative applications driven by advancements in technology. Flexible batteries and sensors are revolutionizing various industries, enabling the development of smart packaging solutions with tracking applications. Thin-film transistor (TFT) technology is paving the way for foldable smartphones and other electronic components, while printable solar cells and organic light-emitting diodes (OLEDs) are powering the growth of renewable energy and display technologies. In-mold electronics (IME) are reshaping the landscape of smart wearable technologies, including connected wearables and biomedical devices. These innovations are facilitating real-time human health monitoring, particularly in fields like orthopedic surgery, where flexible electronic sensors and bioelectronic tactile sensors are enhancing prosthetic hands and surgical robotic arms, ensuring precise and efficient operations.
The market share growth by the displays segment will be significant during the forecast period. Flexible displays are next-generation thin electronic display screens, including industrial displays, that are light in weight, foldable, and bendable. These displays can be rolled up without losing their display capabilities, i.e., they can be manipulated without breaking. Thus, flexible displays are more durable than their counterparts, which will increase the market growth during the forecast period.
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The displays segment was valued at USD 14.59 billion in 2018. Many of the industry participants are working on the development of flexible displays for smartphones, tablet computers, and advanced consumer electronic devices. Over 60% of smartphones shipped worldwide incorporate flexible display technology. Embedding flexible displays into these devices makes them rugged and almost unbreakable. In addition, the amount of content displayed can be increased with flexible displays. During the forecast period, it is possible that flexible displays will be embedded in a wide range of applications, such as TVs, monitors, fabrics, and medical devices. Hence, such factors are fuelling the growth of this segment during the forecast period.
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APAC is estimated to contribute 47% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC will retain its position as a major revenue contributor during the forecast period, mainly due to the presence of major electronic device manufacturers in the region. APAC is a hub for manufacturers of flat-panel TV, smartphones, tablets, and wearable devices. Most of these manufacturers are based in South Korea, Japan, Taiwan, and China. Moreover, Samsung and LG are the major companies in the market and have introduced curved-panel smartphones. These companies control most parts of the supply chain because of vertical integration. Thus, the contribution of APAC is dominant in the market during the forecast period.
The flexible electronics market is experiencing significant growth driven by advancements in technology and increasing demand for innovative healthcare solutions. Smart wearable technologies and connected wearables are revolutionizing the healthcare sector, enabling continuous monitoring and real-time human health monitoring. 3D integration in healthcare and flexible electronic sensors are paving the way for the development of biomedical devices and bioelectronic tactile sensors, facilitating the creation of prosthetic hands and surgical robotic arms. Moreover, the market is witnessing the emergence of new materials and organic liquid crystal display (OLCD) technologies, enhancing the production of consumer electronic devices and enabling the development of prosthetic organs and bone grafts and substitutes, particularly in orthopedic surgery.
The market is experiencing significant growth due to the increasing demand for advanced technologies in various industries. This market encompasses wearables, flexible batteries, sensors, smart packaging, and tracking applications. Key components include thin-film transistors (TFT), printable solar cells, and in-mold electronics (IME). Flexible electronic sensors are finding applications in wearable devices, Smart wearable technologies, connected wearables, biomedical devices, and continuous monitoring systems for body pressure, prosthetic hands, surgical robotic arms, and bioelectronic tactile sensors. Flexible printed batteries and flexible lithium-ion technology are driving innovation in wearable electronics and flexible medical devices. Advances in thin-film technologies and FOLED technology are enhancing organic light-emitting diodes (OLED) and flexible OLED display panels for AR glasses and head-mounted displays (HMDs). The rise of bendable smartphones and foldable devices showcases progress in smart textiles and flexible photovoltaics. Flexible sensors and flexible memories support new applications in medical and healthcare and energy and power sectors. Flex PCB designs and multilayer flex circuits are crucial for smartphone market developments, complemented by advancements in 5G SA core and hinge mechanisms.
Capacity expansion plans is one of the key driver that is shaping the market's growth trajectory globally. The printed electronics market, specifically, is witnessing an increase in demand due to its adaptability to various applications and materials. Flexible hybrid electronics, integrating the advantages of both printed electronics, have become a significant factor in driving innovation. Investment opportunities abound in this sector, with a notable number of market players investing in research and development to explore growth opportunities. Screen printing and inkjet printing technologies play a pivotal role in the global printed electronics image market, enabling the efficient production of these solutions.
Aerospace is one of the prominent sectors where flexible electronics find extensive application. The integration of flexible electronics in aerospace solutions provides lightweight and versatile alternatives, addressing the demand for innovation in this industry. Additionally, Internet of Things (IoT) is driving the penetration of these into diverse markets, creating new growth opportunities. In terms of geographical expansion, countries like France, the U.S., Argentina, Brazil, and South Africa are witnessing a notable increase in its adoption. Acquisition is becoming a strategic factor for market players, fostering collaboration and ensuring a competitive edge in this dynamic landscape. In addition to being a facilitator of technological advancements, they are increasingly recognized as a cornerstone for transforming and reshaping electronic markets on a global scale. Hence, such factors are driving the market during the forecast period.
The advent of conceptual flexible display products is the primary trend in the global market growth. As flexible displays become more mainstream products, different conceptual-level products will be prototyped. Technology companies are innovating and conceptualizing products that are wearable and more integrated with human life. Microsoft and Sony are prototyping screen consoles for their gaming products that provide a more appealing experience for gamers.
Sony and Samsung have launched curved-screen TVs and are now prototyping these TVs with flexible screens. The wearables industry has conceptualized different products using flexible displays and driven the growth of the market during the forecast period.
Mass production of flexible OLED displays is a major challenge to global market growth. As the market is still in its nascent stage, there is a lack of mass-production plants that can manufacture products at the desired rate. This leads to the lack of commercialization of products and difficulty in achieving economies of scale for companies. Mass production plants are usually located in APAC, whereas most of the research and development or university partnerships occur in the North American market. This leads to a lag between the prototype and product stages.
However, major companies, such as LG Electronics Inc. (LG), have realized the potential of flexible displays and have started making significant investments in production plants in the APAC market. These plants are closely connected with their research and development divisions to ensure that there is no lag between the prototype and product stages. Hence, the above-mentioned factors are expected to hamper the growth of the market in focus during the forecast period.
The flexible electronics market growth and forecasting report includes the adoption lifecycle of the market forecasting, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the flexible electronics market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence during the market forecast.
Blue Spark Technologies Inc. - The company offers flexible electronics under the brand, TempTraq. Also, through this segment, the company offers TempTraq a 24-hour intelligent thermometer and Battery products.
The flexible electronics market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The Market is experiencing significant growth due to the increasing demand for wearable devices and smart packaging. Flexible batteries and sensors are key components of this market, enabling the development of wearables and flexible displays. Top companies like Samsung Electronics are investing in this field, utilizing technologies such as organic light emitting diodes (OLEDs), thin-film transistors (TFT) and in-mold electronics (IME). Foldable smartphones and connected wearables are driving the market, with applications ranging from tracking applications to biomedical devices. New materials and R&D efforts are leading to advancements in printable solar cells, flexible electronic sensors, and 3D printing. Consumer electronic devices, military, defense & aerospace, and communications industries are major consumers of flexible electronics.
Moreover, the applications include continuous monitoring of body pressure for prosthetic hands and surgical robotic arms, thermotherapy, and hybrid prosthetic organs. Rigid substrates are being replaced with flexible displays, leading to innovations in orthopedic surgery and bone graft substitutes. Repair and rework of flexible electronic components is a growing area of focus, with multilayer flex circuits gaining popularity. In the flexible electronics market, advancements such as flexible printed batteries, flexible lithium-ion technology, and thin-film technologies are gaining traction. Organic light-emitting diodes (OLED) and FOLED technology are key drivers behind innovative applications, including next-generation AR glasses. The market is expected to expand further with the integration of flexible electronics into military and defense applications.
Furthermore, rigid flexible electronics and flexible printed circuits are advancing fields like consumer goods, robotics, and agriculture. In aerospace and defense, sensing and advanced display technology enhance health monitoring systems and connected infrastructure. Flexible substrates and energy storage technology improve smart electronics and lighting technology for smart cities. Flexible organic light-emitting diode (OLED) and flexible organic liquid crystal display (OLCD) technologies are crucial for foldable devices and digital signage solutions. Addressing issues like ripped or cut flex material, heat damaged components, and short-circuiting situations is vital for maintaining multilayer flex circuits and hinge mechanisms. Effective data analytics and artificial intelligence support storage solutions for PCs, tablets, and large-screen devices.
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Market Scope |
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Report Coverage |
Details |
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Page number |
184 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 10.87% |
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Market growth 2024-2028 |
USD 25.69 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
9.53 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 47% |
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Key countries |
South Korea, US, Japan, China, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
3M Co., AUO Corp., Blue Spark Technologies Inc., Buhler AG, Corning Inc., Cymbet Corp., DuPont de Nemours Inc., E Ink Holdings Inc., Enfucell, FlexEnable, Imprint Energy, Kateeva Inc., Koch Industries Inc., LG Corp., Microchip Technology Inc., Royole Corp., Samsung Electronics Co. Ltd., Shenzhen Radiant Technology Co. Ltd., The Lubrizol Corp., and Visionox Co. |
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Market dynamics |
Parent market analysis, market analysis and report , Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our flexible electronics market research and growth report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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