Flexible Electronics Market Growth and Forecast | 2030

The flexible electronics market is projected to reach US$ 57.69 billion by 2030 from US$ 25.86 billion in 2022. The market is expected to register a CAGR of 10.6% during 2022–2030. The rising adoption of printed electronics is anticipated to be the key flexible electronics market trends during the forecast period.

Flexible Electronics Market Analysis

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 Market Overview

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.

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Flexible Electronics Market: Strategic Insights

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Flexible Electronics Market Drivers and Opportunities

Rising Demand for Connected Devices

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.

Flexible Electronics Market Report Segmentation Analysis

The “flexible electronics analysis” has been performed by considering the following segments: components, application, and geography.

• Based on components, the market is segmented into display, battery, sensors, memory, and others. The display segment held the largest share in the flexible electronics market in 2022. The increasing customer desire for sophisticated displays with the ability to bend, roll, or provide some degree of flexibility is expected to fuel the demand for flexible displays in the coming years. Additionally, as they require less power than conventional screens, flexible displays are more energy efficient.
• Furthermore, the battery segment is anticipated to register the highest CAGR during 2022–2030. The demand for flexible batteries is expected to rise due to the ease of implementation and integration into a variety of goods, including flexible or wearable electronics. In addition, flexible batteries are witnessing higher adoption in electric vehicles because they are waterproof, flame retardant, and resistant to bending, folding, and stretching. Furthermore, the need for flexible batteries has been fueled by the desire for seamless electronics integration into commonplace objects such as clothing, medical gadgets, and even the human body.

Flexible Electronics Market Share Analysis by 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.

Flexible Electronics Market Regional Insights

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.

Flexible Electronics Market Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

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:

1. Samsung Electronics Co Ltd
2. LG Electronics Inc
3. Enfucell Flexible Electronics Ltd
4. SRI International
5. Imprint Energy
6. Blue Spark Technologies Inc

Disclaimer: The companies listed above are not ranked in any particular order.

Flexible Electronics Market News and Recent Developments

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:

• In January 2024, Samsung Display showcased its leading foldable technology at CES 2024. The company unveiled its new generation of products that can be easily folded in and out, as well as they are rollable and have slidable display technologies. The company also presented its new microdisplay with ultra-high resolution for immersive XR experiences. They also exhibited OLED technology with unrivaled size, ultra-thin panels, and displays in various form factors, including revolutionary OLED products for vehicle interiors. (Source: Samsung, Press Release)
• In June 2023, Forsee Power, the expert in smart battery systems for sustainable electromobility, announced the launch of FLEX PLUS, a new high-value-added battery system to equip heavy electric vehicles (buses, trucks, and off-highway vehicles). This FLEX PLUS is available in two options, 52 kWh and 56 kWh, and can adjust the voltage and energy to the needs of the application. It can support both 650V motorization and 800V motorization within the same battery format. (Source: Forsee Power, Press Release)

Flexible Electronics Market Report Coverage and Deliverables

The “Flexible Electronics Market Size and Forecast (2022-2030)” report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments.
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments.
• Detailed company profiles