Global Flexible Electronics Market Size, Share, Growth Analysis, By Application(Flexible Display, Flexible Battery), By End-User(Consumer Electronics, Healthcare) - Industry Forecast 2023-2030

Flexible Electronics Market size was valued at USD 18.48 billion in 2021 and is poised to grow from USD 22 billion in 2022 to USD 89.2 billion by 2030, growing at a CAGR of 19.1% in the forecast period (2023-2030).

The global flexible electronics market is experiencing significant growth and demand, driven by the increasing number of electronic applications worldwide. The introduction of flexible batteries and the growing usage of flexible sensors in smart packaging and tracking applications are key factors expected to contribute to the extensive growth of the market throughout the forecast period. A notable development in this field is the creation of a flexible Thin-Film-Transistor by Toppan Printing, capable of enduring millions of bending cycles to a 1 mm radius of curvature, offering practical advantages for various applications.

Additionally, the popularity of folding smartphones is a major driving force in the flexible electronics market worldwide. Samsung, for example, reported shipping around 10 million foldable smartphones globally in the previous year, marking a remarkable increase of over 300 percent from 2020. According to IDC projections, the shipment of foldable smartphones is expected to reach 27.5 million units by 2025, with a compound annual growth rate (CAGR) of 69.8% from 2020 to 2025.

Furthermore, the advancement and development of in-mold electronics and flexible sensors are further fueling the growth of flexible and smart wearable technologies. The increasing adoption of flexible wearable devices, particularly smart wearables, is expected to expand the scope of the global flexible electronics market during the forecast period. According to Cisco, the number of connected wearables worldwide surpassed 900 million units in 2021, highlighting the growing market for wearable technologies.

Overall, the flexible electronics market is witnessing substantial growth due to the rise of electronic applications, the popularity of folding smartphones, and the advancement of in-mold electronics and flexible sensors. The increasing adoption of smart wearable devices is also contributing to the expansion of the market.

Segments covered in this report:

Flexible Electronics Market is segmented on the basis of application, end-user, and region. By application, the Flexible Electronics Market is segment into flexible display, flexible battery, flexible sensor, and flexible memory. By end-user, the Flexible Electronics Market is categorized into consumer electronics, healthcare, automotive, aerospace & defence, and others. By region, the Flexible Electronics Market is divided into North America, Europe, Asia Pacific, Latin America, and MEA.

Driver

The global flexible electronics market is driven by the widespread adoption of intelligent flexible devices, including phones, laptops, and sensors. The demand for intelligent power sources for miniature devices, enabled by MEMS and NEMS in sensor technology, further fuels market growth. Flexible screens and sensors provide manufacturers with design options, contributing to the market's expansion. The market's rapid growth is propelled by continuous technological advancements, product development, and increasing demand in the consumer goods industry.

Restraint

The growth of the flexible electronics market during the forecast period may be hindered by the higher cost compared to standard electronic components. Flexible electronics, including active RFID tags, which require internal power, are more expensive than passive RFID tags that do not require power. This increased cost negatively impacts the market's growth globally.

Market Trends

Companies are increasing their investments in research and development (R&D) to enhance their market position, and market research predicts that advancements in technology will introduce various income-generating opportunities in the global market. With this technology, multiple functionalities such as microphones, speakers, and batteries can be integrated into a single electronic device. The field of 3D printing is advancing rapidly, offering a wide range of applications, including the production of 3D printed flexible electronic devices in the healthcare sector. This technology enables the direct printing of biomedical devices onto human skin and facilitates the creation of flexible electronic sensors for measuring body pressure. These advancements in 3D printing have the potential to revolutionize healthcare and improve patient care.