Global Flexible Electronics Market - 2023-2030

Market Overview

Global Flexible Electronics Market reached US$ 23.5 billion in 2022 and is expected to reach US$ 74.4 billion by 2030, growing with a CAGR of 15.5% during the forecast period 2023-2030. Modern passenger cars have become increasingly sophisticated with the integration of smart features that allow internet connectivity, remote vehicle operation and functionalization of advanced vehicle security features. The growing adoption of connected car technologies by major automakers will augment demand for flexible electronics.

New advances in material science are likely to lead to the development of advanced flexible electronics. For instance, in June 2023, scientists from the Harbin Institute of Science and Technology in Harbin, China announced the creation of a conductive, self-healing hydrogel which can be used in the manufacturing of flexible sensors.

Market Dynamics

Growing Technological Integration in Healthcare

Wearable health monitoring devices are being increasingly adopted by the healthcare industry to improve patient care quality. Health monitoring devices enables continuous and non-invasive monitoring of vital signs, such as heart rate, blood pressure and body temperature. Remote patient monitoring systems are also being adopted that allow healthcare providers to remotely monitor patients' health conditions and collect data outside of traditional clinical settings.

The development of flexible sensors that can be seamlessly integrated into implants or prosthetic devices to enable better monitoring, control and functionality has also gathered pace. Many medical device manufacturers in partnership with healthcare providers such as hospitals are implementing smart drug delivery systems to ensure precise and controlled medication administration and wireless data transmission to healthcare providers.

Flexible electronics enable the integration of new technological advances in the healthcare industry, since small form factors are required for smooth operations. As more new advances are incorporated to improve patient care, the demand for flexible electronics is expected to increase significantly.

Growing Demand for Lightweight and Portable Electronics

Lightweight and portable electronics offer enhanced portability, allowing users to carry them easily and use them on the go. The usage of smartphones, laptops or wearable devices, allows users the ability to easily transport and use electronics wherever needed, thus providing convenience and flexibility to user's lifestyles and work environments.

With the increasing trend of remote work and the need for constant connectivity, lightweight and portable electronics enable individuals to stay productive and connected while on the move. Global travel has increased considerably and portable electronics are much more convenient for travellers. Compact and lightweight devices are easier to pack and carry in luggage, making them travel-friendly.

Flexible electronics offer lightweight and thin form factors, making them highly portable compared to their rigid counterparts. Furthermore, they can bend, roll and conform to different shapes and surfaces. The flexibility allows for innovative design possibilities and integration into unconventional form factors. Due to their lightweight and compact nature, flexible electronics offer reduced power consumption during operation and allow for the integration of energy-saving features.

High R&D and Manufacturing Costs

The development of flexible electronic devices involves substantial research and development (R&D) investments. The high costs associated with R&D can be a barrier, particularly for smaller companies and new entrants from emerging countries with limited resources, hindering their ability to innovate and bring new products to the market.

Flexible electronics often require specialized equipment and manufacturing processes compared to traditional rigid electronics. These specialized requirements increase the cost of setting up and maintaining manufacturing facilities. The need for specialized equipment and processes also limits the number of manufacturers capable of producing flexible electronics, resulting in higher costs due to reduced competition.

The high cost of research and manufacturing limits the production of flexible electronics to a select few companies. Limited competition in the market keeps the prices of finished products high, thereby reducing the potential for penetration and hindering the growth of the global flexible electronics market.

COVID-19 Impact Analysis

The COVID-19 pandemic has disrupted global supply chains, impacting the production and distribution of flexible electronics. The pandemic caused a shift in consumer behavior as people increasingly relied on remote work, online education and digital communication. It created a greater demand for electronic devices utilizing flexible electronics such as laptops, tablets, smartphones and wearable devices to support work activities from home.

As economies recovered from the pandemic, the global flexible electronics market experienced a rebound. Companies sped up their R&D activities with hopes of bringing new products to the market quicker, in anticipation of increased sales from the pent up consumer demand. The global flexible electronics market is expected to have strong growth in the aftermath of the pandemic.

AI Impact

AI integration with flexible electronics can enable advanced sensing capabilities. Sensors integrated into flexible devices can collect and analyze vast amounts of data in real-time, enabling applications in areas such as healthcare, environmental monitoring and industrial automation. AI algorithms can be used to process this data, identify patterns and extract valuable insights for decision-making.

AI can also contribute to design and manufacturing advancements in flexible electronics. Generative design algorithms can optimize the design of flexible devices, considering factors such as material properties, performance and manufacturability. AI-powered robotic systems can automate manufacturing processes, improving precision, speed and quality. It can improve overall quality and substantially reduce prices for flexible electronics.

Ukraine-Russia War Impact

High-technology industries of Russia such as aerospace and defense were impacted by the war as U.S. and EU imposed economic sanctions, cutting off supply of western technology. It has led to increased production costs and long lead times for Russian defence enterprises as they struggled to find alternative suppliers to replace flexible electronics made by western companies.

The war also caused major problems for the global flexible electronics market as both Ukraine and Russia are major producers of high-purity noble gases used in semiconductor production. Producers of electronic components are likely to contend with higher production costs in the short term, until stable alternative supplies of nobles gases are found.

Segment Analysis

The global flexible electronics market is segmented based on application, end-user and region.

Sensors are a Leading Application of Flexible Electronics

Sensors have extensive applications across various industries, including healthcare, automotive, consumer electronics, industrial automation and environmental monitoring. Flexible electronics enable the integration of sensors into unconventional shapes and form factors, expanding their applicability and versatility. The flexibility allows sensors to be used in wearable devices, smart textiles, bendable electronics and other unconventional environments.

Flexible sensors are also in industrial automation for process monitoring, quality control and predictive maintenance. The sensors can be integrated into machinery, robotic systems and smart infrastructure to monitor parameters such as temperature, pressure, humidity and vibration.

Sensors play a vital role in the Internet of Things (IoT) ecosystem, where connected devices communicate and share data. Flexible sensors can be seamlessly integrated into IoT devices, enabling the collection of real-time data, environmental monitoring and intelligent decision-making.

Geographical Analysis

Advances in Military Technology Will Augment Market Growth in North America

North America is expected to occupy nearly a quarter of the global flexible electronics market. Over the forecast period, new advances in military technology are likely to propel demand for flexible electronics in the region. U.S. has the most powerful armed forces in the world and is continually adopting emerging technologies to maintain fighting edge over its geopolitical rivals.

The U.S. military has particularly focused on data-driven warfare tactics, which uses advanced sensor suites to collect, analyze and transfer data between military branches to increase battefield situational awareness. The upgradation of existing technology is also likely to create new demand. For instance, starting from May 2021, U.S. army begun issuing L3Harris augmented reality-enhanced night vision goggles to its infantry soldiers.

Competitive Landscape

The major global players include LG Corporation, Samsung Electronics Co. Ltd, Blue Spark Technologies, E Ink Holdings Inc., OLEDWorks, Royole Corporation, FlexEnable, Imprint Energy, Dai Nippon Printing Co., Ltd. and AUO Corporation.

Why Purchase the Report?

• To visualize the global flexible electronics market segmentation based on application, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of flexible electronics market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Type mapping available as Excel consisting of key products of all the major players.

The global flexible electronics market report would provide approximately 50 tables, 50 figures and 185 Pages.

Target Audience 2023

• Consumer Electronics Manufacturers
• Automotive Manufacturers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies