April 18, 2024
Flexible Electronics Market

Flexible Electronics Market is driven by Increasing Demand for Lightweight and Durable Electronics

Flexible electronics provide several advantages over rigid electronics by making products lighter, more durable, and bendable or form fitting. Flexible electronics incorporate electronic devices and components onto flexible polymeric substrates or thin films instead of rigid, inorganic substrate, which enables the development of products that can be wrapped, folded, twisted, and rolled up. They have wide applications across sectors including automotive, consumer electronics, medical devices, and others due to their properties like flexibility, durability, lightweight, bendability, and form-fitting. The incorporation of bendable micro LED displays, solar panels, and bendable sensors in wearables, e-textiles, smart cards, and other appliances is increasing the demand for flexible electronics components in the market.

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 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the key trends in the flexible electronics market is the increasing focus on printed electronics technology. Printed electronics technology uses digital or analog printing processes for creating electronic circuits on various substrates such as paper, plastic, fabric, and other non-traditional and flexible materials. It has applications across various industries including automotive, consumer electronics, medical devices, packaging, and others. Properties such as lightweight, durability, flexibility, low material cost, large-area functionality, and overall environment-friendly nature make printed electronics important for manufacturing flexible electronic devices. Rising investments in printed electronics for developing low-cost and large-scale manufacturing technologies will support the growth of flexible electronics market over the forecast period.

Porter’s Analysis
Threat of new entrants: The flexible electronics market is moderately concentrated with presence of several global players. High initial investment requirement and technology expertise pose as entry barriers for new players.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of several product and technology options from different vendors.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of substitute raw materials and components.
Threat of new substitutes: Threat of new substitutes is low as flexible electronics offers unique features compared to traditional rigid electronics.
Competitive rivalry: The market is competitive due to presence of large global players offering varied product portfolio.

Key Takeaways

Global Flexible Electronics Market Demand is expected to witness high growth.

Regional analysis: The Asia Pacific region dominates the flexible electronics market currently due to presence of major electronics component manufacturers in countries like China, South Korea, Japan and Taiwan. Countries in North America and Europe are also growing rapidly.

Key players: Key players operating in the flexible electronics market are Kurihama Medical and Addiction Center, National Hospital Organization Kurihama Medical and Addiction Center, Osaka National Hospital, National Hospital Organization Nagasaki Medical Center, National Hospital Organization Kochi Medical Center, National Center for Mental Health (Nashilgil Hospital), Seoul St. Mary’s Hospital, Samsung Medical Center, Yonsei University Health System, Asan Medical Center, Beijing HuiLongGuan Hospital, Peking University Sixth Hospital, Beijing Huilongguan Hospital, Shanghai Mental Health Center, Tongji Medical College, Huazhong University of Science and Technology, National Institute of Mental Health and Neurosciences (NIMHANS), All India Institute of Medical Sciences (AIIMS), Tata Memorial Hospital, VIMHANS (Vidyasagar Institute of Mental Health and Neurosciences), Schizophrenia Research Foundation (SCARF), Promises Healthcare (Singapore), The Cabin Chiang Mai (Thailand), The Dawn Medical Rehab and Wellness (Thailand), The Solace Sabah (Malaysia), The Kusnacht Practice (Singapore).

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