The flexible electronics market is estimated on the basis of various secondary and primary research findings such as key company publications, association data, and databases. The flexible electronics market is predicted to surge during the forecast period due to increased sales of Internet of Things (IoT) devices and a growing government concern about flexible electronics. The need for flexible electronics is expanding as there is a greater need for sensors to operate IoT-connected devices and a power supply source. Furthermore, the market is likely to develop due to the surge in demand for smart and portable electronic devices such as smartphones, laptops, tablets, smartwatches, and other devices.
Flexible electronics, or flex circuits, is a type of electrical technology that might be installed on flexible or conformable substrates. These flexible circuits can take different shapes by being stretched, twisted, bent, or molded. Flexible electronics are becoming increasingly popular due to the numerous benefits they offer to customers. Flex circuits will continue to be used in various applications as more businesses come to realize their potential for increased customization, affordability, and portability. Flexible electronics are being used by a wide range of professionals and industries in their devices and products because they are adaptable, inexpensive, customizable, innovative, and portable.
The demand for connected devices, including smartphones, tablets, and different wearable devices such as smartwatches, fitness trackers, VR headsets, and headsets, is increasing across the globe. These connected devices are used for various purposes in day-to-day life, which include accurate tracking of real-time data and providing enhanced convenience. According to the Groupe Speciale Mobile Association (GSMA), smartphone adoption across the globe was 76% in 2022, totaling 6.4 billion smartphone connections. The adoption is expected to rise to 92% by 2030, making 9 billion connections globally. According to the same report, smartphone adoption in North America was 84% in 2022 and is expected to reach 90% by 2030. Similarly, the smartphone adoption rate in Europe will increase from 84% in 2022 to 91% by 2030. In Sub-Saharan Africa, an underpenetrated market, the smartphone adoption rate is predicted to grow from 51% in 2022 to 87% by 2030. In many industries, wearables are used to track and manage personnel. For instance, miners can be tracked under deep tunnels and alerted if signs of distress occur. Similarly, wearables are used for dementia patients to track their location if they go missing or get themselves in danger and need emergency help. Thus, the growing demand for connected devices is propelling the growth of the flexible electronics market.
The “flexible electronics analysis” has been performed by considering the following segments: components, application, and geography.
The geographic scope of the Flexible Electronics Market report is mainly divided into five regions: North America, Asia Pacific, Europe, the Middle East & Africa, and South & Central America.
North America held the largest share in the flexible electronics market in 2022, followed by Asia Pacific and Europe. The market in North America is witnessing growth owing to increased demand for flexible electronics due to the growing popularity of smart wearables and consumer electronics. As stated on the press release of Ericsson, the number of smartphone subscribers in North America is expected to reach 358 million by 2027, continuing the steady growth seen in previous years. Also, in 2021, there were ~328 million smartphone users in the region. Furthermore, according to the report by Cisco Systems, in 2022, the US registered approximately 439 million linked wearable devices, making North America the most 5G connections established region using wearable devices in 2022.
The regional trends and factors influencing the Flexible Electronics Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Flexible Electronics Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 25.86 Billion |
| Market Size by 2030 | US$ 57.69 Billion |
| Global CAGR (2022 - 2030) | 10.6% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2030 |
| Segments Covered |
By Components
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Flexible Electronics Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Flexible Electronics Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The Flexible Electronics Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. Following is a list of developments in the market:
The “Flexible Electronics Market Size and Forecast (2022-2030)” report provides a detailed analysis of the market covering below areas:
The List of Companies - Flexible Electronics Market
The global flexible electronics market was estimated to be US$ 25.86 billion in 2022 and is expected to grow at a CAGR of 10.6% during the forecast period 2023 - 2030.
Rising demand for connected devices, growing need for flexible devices in healthcare industry, and increasing demand for electric vehicles are the major factors that propel the flexible electronics market.
Rising Popularity of Foldable Display is anticipated to play a significant role in the global flexible electronics market in the coming years.
The key players holding majority shares in the global flexible electronics market are Samsung Electronics Co. Ltd., LG Electronics, GENERAL ELECTRIC, AUO Corporation, and E Ink Holdings Inc.
The incremental growth expected to be recorded for the global flexible electronics market during the forecast period is US$ 31.83 billion.
The global flexible electronics market is expected to reach US$ 57.69 billion by 2030.