February 22, 2024
Flexible Electronics Market

The Growth Of Flexible Electronics Is Driven By The Growing Popularity Of Wearable Devices

Flexible electronics are electronic devices and components that are manufactured in or on flexible substrates and materials and feature form factors and user interfaces enabled by their flexible nature. Flexible electronics are commonly used in electronic paper, electronic skin patches on the human body, flexible displays, and flexible photovoltaics. Flexible electronics are lightweight and thin, making them suitable for applications where stiffness and rigidity are undesirable qualities. They can be manufactured on plastic or rubber substrates or using organic materials such as carbon nanotubes or organic semiconductors instead of silicon, the rigid material traditionally used to manufacture electronics. Flexible electronics enable the development of novel classes of ultra-lightweight, rollable, twistable and stretchable devices. Wearable devices and displays are major application areas where flexible electronics have found widespread adoption.

The global flexible electronics market is estimated to be valued at US$ 30.71 Bn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The growing popularity of wearable devices is one of the major trends driving the growth of the flexible electronics market. Wearable devices such as smartwatches, fitness trackers, and smart clothing enable applications like activity tracking, health monitoring, and interaction with smartphones. Flexible electronics are extensively used in manufacturing these devices as they allow for aesthetically pleasing and ergonomic designs that conform to the human body. The development of flexible and stretchable circuits and displays that consumers can wear for extended periods is expected to further spur market growth. Additionally, advancements in flexible OLED display technology are enabling larger and thinner displays suitable for applications such as foldable smartphones and tablets where rigidity is not desirable. Ongoing research to develop innovative flexible batteries, sensors, and light-emitting materials will expand the potential of flexible electronics in emerging applications.\

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate as the flexible electronics market requires significant R&D investments and established supply chains.

Bargaining power of buyers: The bargaining power of buyers is high due to the presence of several flexible electronics manufacturers and product substitutes.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are several component suppliers for flexible electronics.

Threat of new substitutes: The threat of new substitutes is moderate to high as new flexible materials and technologies continue to emerge.

Competitive rivalry: The competitive rivalry is high due to the presence of numerous global players operating in the market.

Key Takeaways

The Global Flexible Electronics Market Demand  is expected to witness high growth over the forecast period 2023 to 2030. The increasing adoption of IoT and growing demand for wearable devices are expected to drive the growth of the flexible electronics market. The global flexible electronics market is estimated to be valued at US$ 30.71 Bn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030.

Regional analysis: North America is expected to dominate the global flexible electronics market over the forecast period. The presence of major electronics manufacturers and adoption of flexible displays are factors driving the North American flexible electronics market. Asia Pacific is anticipated to be the fastest growing region with countries like China, Taiwan, and South Korea emerging as major manufacturing hubs for flexible electronics.

Key players: Key players operating in the flexible electronics market are Ceva Logistics Ag, Kuehne + Nagel International Ag, Dhl International Gmbh (Deutsche Post Ag), Ryder System, Inc., United Parcel Service, Inc., Db Schenker (Deutsche Bahn Ag), Xpo Logistics, Inc., Dsv A/S, Nippon Express Co., Ltd. and Geodis. The players are focusing on new product launches and partnerships to gain a competitive advantage in the market.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it