The Global Flexible Electronics Market was $18.9 Bn in 2019, and it is expected to reach $61.2 Bn by 2028. It is eventually growing at a commendable high compound of annual growth rate CAGR of 14.1% between 2020-2028. However, the current pandemic of COVID-19 might make a slight difference in the growth rate in the present year. The increasing use of thin film based solar modules and surging trend and demand for wearable electronics and flexible smartphones are expected to boost the market growth of flexible electronics rapidly. Moreover, features such as flexible handling capacity and reduced assembling cost are some of the factors that fuels the market growth. The rising applications of flexible electronics components in consumer electronics is also projected to be the market driving factor for flexible electronics. Further, high investment in research and development of flexible electronics to reduce the weight and increase flexibility of the end product is also expected to be major market driving factor for the flexible electronics in the coming forecast.
Global Flexible Display Segment Is Estimated to Witness Remarkable Growth
Source: SAI Research
The global Flexible Electronics Market has been segmented into component type, and application. By component type, the global Flexible Electronics Market is divided into Flexible Display, Flexible Battery, Flexible Sensor, and Flexible Memory. By applications, the global Flexible Electronics Market is divided into Consumer Electronics, Automotive, Medical and Healthcare, Energy and Power, Defense & Aerospace, Sensing, and others. The flexible display segment is anticipated to show remarkable growth during the forecast period owing to the high demand from consumer electronics such as smartphones, tablets, and notebooks.
By Region, North America is Holding the Major Market Share
The global Flexible Electronics Market has been geographically segmented into North America, Asia Pacific, Latin America, Middle East and Africa region. In addition to this, North America Flexible Electronics market is holding the largest market share currently and is estimated to show the fastest compound annual growth rate in the upcoming forecast period due factors such advanced technology for consumer electronics. The increasing demand for smart wearable electronics products along with consumer electronics is projected to drive the flexible electronics market in the region. Further, the increasing applications of flexible electronics and rising consumer spending is projected to fuel the market rapidly in the region. Asia Pacific region has evolved as biggest consumer manufacturer across the globe. The significant demand of consumer electronics product and increasing trend high class technology product among the regional population is expected to drive the market in the region. Rising applications flexible electronics in consumer electronics is expected to boost the Europe market. These reasons are expected to positively influence the market growth during the forecasted period from 2020 to 2028.
Major Players in Global Flexible Electronics Market
Some of the key players in the global Flexible Electronics Market include Blue Spark Technologies, OLEDWorks, Samsung Electronics, FlexEnable, E Ink Holdings Inc., First Solar, Konica Minolta, LG Electronics, ACREO, Asahi Kasei, PARC, Inc., Kossan Rubber, Cymbet Corporation, and Panasonic.
The Global Flexible Electronics Market Has Been Segmented into:
Global Flexible Electronics Market: By Component Type
Global Flexible Electronics Market: By Applications
Global Flexible Electronics Market: By Region