Global Flexible Electronics Market was valued at $5.3 Billion in 2015 and is estimated to grow at a CAGR of over 20% from 2016 to 2024.
Escalating demand for flexible electronics across varied application sectors including healthcare & medical, automotive, mobile devices, wearable electronics, military & defense, consumer electronics, and biometrics is expected to drive the market growth significantly over the next few years.
The industry is still in its nascent stage and is anticipated to gain momentum over the coming years on account of the developing technology resulting in increasing adoption. Flexible technology offers transformational benefits in terms of weight, product shape, and durability. Development of flex circuits provide effective 3D configurations to product designs, which is also estimated to propel product demand significantly over the forecast period.
Global Flexible Electronics Market, By Application, 2014 – 2024 (USD Billion)
Technological developments in flex circuits enable its use in allied industries including smart medical devices, wearable electronics, connectors, cell phones, and IoT. With miniaturizing consumer electronic products, the demand for these flex circuits is anticipated to catapult in order to provide more integrated functioning.
The industry is increasingly witnessing evolving consumer preference towards light weight devices for the primary purpose of portability. Flexible electronics are designed on Kapton or related materials in order to provide immense flexibility. The market is expected to flourish over the next few years on account of the aforementioned factors.
Flexible electronics consume less energy as compared to the conventional electronic products resulting in growing product adoption across several end-use industries. The market is rapidly evolving with growing usage primarily in smartphones, tablets, e-books, and smart watches.
“Optimal Price Point (OPP) for Flexible Electronics”
Estimated Average solution cost – $ xx globally. However, portable consumer electronic penetration, growing solution implementation and increasing SMEs, OPP and range of acceptable Prices (RAP) are going to change. We at Ameri Research continuously track these prices with our proprietary pricing model.
“Budding use of consumer electronic devices”
Consumer electronics are rapidly gaining traction particularly in developing economies of Asia Pacific, Latin America and the Middle East. Rising concerns pertaining to circuit assembly coupled with higher costs are foreseen as major challenges to mass adoption. This results in growing implementation of flex circuits in consumer electronics in an attempt to overcome the above mentioned issues.
“Notable industry players include LG Corporation, PARC Inc., Samsung Electronics, and Cymbet Corporation”
The flexible electronics industry is fragmented in nature. However, the market is observing elevating emergence of exclusive manufacturers focusing primarily on the development of efficient flexible electronics. These manufacturers offer technologically innovative products that provide a variety of benefits related to power efficiency and product design. Prominent industry players are seen investing in R&D to fortify their market position.
Manufacturers are increasingly developing technologies to manufacture electronic components that can be used on flexible surfaces such as plastic, paving the way to an array of innovative new products. Additionally, companies are gradually using organic semiconductors for flexible displays and circuits on plastic.
The industry is also witnessing increasing fabrication of high-density and high-performance CMOS circuits against SOI wafers followed by using two layers of Parylene C to bond these circuits to flexible substrates. This enables increased performance and enhanced power efficiency.