Flexible Electronics Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 18.50 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Flexible Electronics Market Analysis
The flexible electronics market is expected to register a CAGR of 18.5% during the forecast period. Flexible electronics have gained huge popularity with the growing number of applications, including wearables. Also, the advent of flexible batteries and the growing use of flexible sensors in smart packaging and tracking applications are expected to encourage the development of the flexible electronics market throughout the forecast period.
- Moreover, in March 2021, Toppan Printing developed a flexible thin-film transistor (TFT) that can withstand million bending cycles to a 1 mm radius of curvature and demonstrates advantages for practical application, such as an on/off current ratio of at least 107 with carrier mobility of 10cm2/Vs. This is expected to gain demand for use in foldable smartphones, wearables sensors, smart packaging, medical devices, and more.
- In addition, foldable smartphones are gaining popularity in the market. For instance, in July 2022, Samsung Electronics announced its latest foldable smartphone series. The latest next-generation foldable smartphones, the Galaxy Z Flip 4 and the Galaxy Z Fold 4, were unveiled during the Galaxy Unpacked online event titled "Unfold Your World."
- Furthermore, according to BNP Media, by 2030, electronic components will account for 50% of an automobile's total production cost. Earlier this decade, it was only 30%. Progress in thin, light, and flexible electronics is behind a range of innovative technologies, from curved TVs to glucose-monitoring contact lenses. This can lead to the growth of printable solar cells and flexible screens using organic light-emitting diodes (OLEDs).
- In addition, the advancement of in-mold electronics (IME) and flexible sensors is further expanding the scope of flexible and printed electronics in smart wearable technologies. The growth of wearable devices, especially smart wearable devices, may further expand the market scope over the forecast period. Cisco estimated the number of connected wearables worldwide to surpass 900 million by 2021.
- The COVID-19 outbreak caused major delays for electronic manufacturers, as suppliers based in China struggled to keep factories running at full capacity. Many electronic manufacturers based in the United States or Europe depend on certain components built by suppliers in China. IPC, an electronic equipment trade organization, ran a survey in February 2020, in which 65% of the 150 electronic manufacturers and suppliers who participated reported delays from suppliers due to the spread of COVID-19.
Flexible Electronics Market Trends
This section covers the major market trends shaping the Flexible Electronics Market according to our research experts:
3D Integration in Healthcare is Expected to Drive the Market
- 3D printing is advancing, and it has a wide range of applications, including 3D-printed flexible electronic devices in the healthcare sector. 3D printers can be used for the direct printing of biomedical devices onto the human skin and can help build flexible electronic sensors to measure body pressure. These printers are expected to improve sensation in prosthetic hands and surgical robotic arms.
- Additionally, a 3D-printed flexible electrical glove can be used to provide comfortable thermotherapy for patients, as the heat formed by these flexible electronic devices can treat injury points by enhancing blood flow and reducing pain.
- Research is being done to use 3D printed, flexible wearable Bioelectronic Tactile Sensors for continuous monitoring for early detection of disease-induced physiological irregularities. As such, efforts are made to develop novel, multi-material, and multilayer all-3D-printed nanocomposite-based (M2A3DNC) micro-engineered, hybrid, flexible, and soft wearable pressure sensors to record sensitive and multiple physiological signals for real-time human health monitoring.
- Moreover, these 3D-printed flexible electronic devices have various applications in the fields of prosthetic organs for the disabled. Furthermore, in November 2021, Graftys SA, a company specializing in designing and manufacturing bone graft substitutes for orthopedic surgery, announced the acquisition of Biologics4Life, a French company working on developing a new generation of injectable synthetic bone graft materials. The acquisition will increase the company's expertise in bone grafts and advanced treatment for patients suffering from fractures or bone loss.
North America to Experience Significant Market Growth
- North America is expected to register significant growth in the flexible electronics market. The increasing demand for smart wearables, combined with consumer electronics, is driving the demand for flexible electronics in the region. For example, according to Ericsson, the number of smartphone subscriptions in North America is estimated to reach 358 million by 2027, based on the steady growth seen in earlier years. Americans owned approximately 328 million smartphones as of 2021.
- Furthermore, according to Cisco Systems, the wearable market is promising in the United States, as the number of connected wearable devices in North America is expected to grow to over 439 million in 2022. North America is forecast to be the region with the most 5G connections made using wearable devices in 2022.
- Further, the U.S. defense establishment, which has promoted many successful high-technology industries, has been interested in flexible electronics technologies for military usage, and that will support the growth of the necessary research infrastructure. Several U.S. states that are at the front of U.S. innovation have recognized research centers for flexible and printed electronics.
- In addition, the U.S. Armed Services have been in front of support the development of flexible electronics in the United States. The Army Research Laboratory and other U.S. Army organizations, the Air Force Research Laboratory (AFRL), the Office of Naval Research (ONR), and the U.S. Special Operations Command (SOCOM) presently support many research efforts in the field with a weight on defense applications, chiefly displays.
Flexible Electronics Industry Overview
The flexible electronics market is fragmented. Manufacturers primarily focused on developing efficiency are offering technologically innovative products that provide various benefits related to power efficiency and product design. Enterprise players are investing in R&D to strengthen their market positions. Key market participants include E Ink Holdings Inc., Blue Spark Technologies, Samsung Electronics Co. Ltd, and others.
- January 2022 - LG Display has revealed its flexible OLED solutions in concept form, including the Virtual Ride indoor stationary bicycle and the Media Chair integrated entertainment center, ahead of CES 2022.
- June 2021 - Samsung announced the development of a fully flexible OLED display that can adhere to and conform to the skin's surface. To create a flexible display, Samsung developed individual OLED pixels that are ridged but sit on a flexible elastomer surface. The connections between the OLEDs and the traces that connect the display to the driver system are made with a flexible material.
Flexible Electronics Market Leaders
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E Ink Holdings Inc.
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Blue Spark Technologies
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Samsung Electronics Co. Ltd.
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LG Electronics Inc.
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OLEDWorks LLC
*Disclaimer: Major Players sorted in no particular order
Flexible Electronics Market News
- June 2021 - Samsung has announced the development of an organic light-emitting diode (OLED) display that is skin-attachable and stretches in response to bodily movement. This elastic technology is expected to play a significant role in wearable health devices.
Flexible Electronics Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porters Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitutes
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
4.4 Assessment of Impact of COVID-19 on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Emerging Need For Lightweight, Mechanically Flexible, and Cost-effective Products
5.1.2 Growing R&D is Expanding the Application Scope
5.2 Market Challenges
5.2.1 High Investment Cost
5.2.2 Complex Assembly Process, Difficult Repair, and Rework
6. MARKET SEGMENTATION
6.1 By Application
6.1.1 Sensing
6.1.2 Lighting
6.1.3 Display
6.1.4 Others Applications
6.2 By End User Industry
6.2.1 Consumer Electronics
6.2.2 Automotive
6.2.3 Healthcare
6.2.4 Military and Defense
6.2.5 Other End User Industries
6.3 By Geography
6.3.1 North America
6.3.2 Europe
6.3.3 Asia Pacific
6.3.4 Rest of the World
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 E Ink Holdings Inc.
7.1.2 Blue Spark Technologies
7.1.3 Samsung Electronics Co. Ltd
7.1.4 LG Electronics Inc.
7.1.5 OLEDWorks LLC
7.1.6 Royole Corporation
7.1.7 FlexEnable Ltd
7.1.8 PragmatIC Inc.
7.1.9 AU Optronics Corp.
7.1.10 Imprint Energy Inc.
7.1.11 BOE Technology Group Co. Ltd
7.1.12 Flexpoint Sensor Systems Inc.
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Flexible Electronics Industry Segmentation
The flexible electronics market is segmented by Applications such as Sensing, Lighting, and Display among various End Users such as Consumer Electronics, Automotive, Healthcare, Military and Defense among multiple geographies. The impact of COVID-19 on the market and affected segments are also covered under the scope of the study. Further, the disruption factors impacting the market's growth in the near future have been covered in the study regarding drivers and restraints.
| By Application | |
| Sensing | |
| Lighting | |
| Display | |
| Others Applications |
| By End User Industry | |
| Consumer Electronics | |
| Automotive | |
| Healthcare | |
| Military and Defense | |
| Other End User Industries |
| By Geography | |
| North America | |
| Europe | |
| Asia Pacific | |
| Rest of the World |
Flexible Electronics Market Research FAQs
What is the current Flexible Electronics Market size?
The Flexible Electronics Market is projected to register a CAGR of 18.5% during the forecast period (2024-2029)
Who are the key players in Flexible Electronics Market?
E Ink Holdings Inc., Blue Spark Technologies, Samsung Electronics Co. Ltd., LG Electronics Inc. and OLEDWorks LLC are the major companies operating in the Flexible Electronics Market.
Which is the fastest growing region in Flexible Electronics Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Flexible Electronics Market?
In 2024, the Asia Pacific accounts for the largest market share in Flexible Electronics Market.
What years does this Flexible Electronics Market cover?
The report covers the Flexible Electronics Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Flexible Electronics Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Flexible Electronics Industry Report
Statistics for the 2024 Flexible Electronics market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Flexible Electronics analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Flexible Electronics Market Report Snapshots
