May 24, 2024
Flexible Electronics Market

The Flexible Electronics Market Driven by Growing Demand For Lightweight Electronics

Flexible electronics find extensive applications across consumer electronics, automotive, healthcare, and industrial sectors owing to features such as lightweight, thinness, durability, and flexibility. Flexible electronics enable the development of consumer electronics products with curved screens and forms factors beyond traditional rigid designs. The growing popularity of wearable devices and increasing investments by prominent consumer electronics brands are fueling the adoption of flexible displays in smartphones, television, and other products. Flexible batteries can be integrated into clothing, skin-patch electronics, and implanted medical devices due to their flexibility and lightweight design. Moreover, flexible electronic components improve the performance and aesthetics of automotive interiors.

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 rapid evolution of flexible and printed electronics technologies is one of the key trends shaping the future of the market. Continuous innovation is leading to the development of new materials such as plastic substrates, conductive inks, and thin-film transistors, which enhance the flexibility, stretchability, and form factors of electronic products. Industry players are investing heavily in R&D activities to expand the applications of flexible electronics. For instance, researchers are exploring the potential of flexible electronics in developing skin-mountable biosensors and smart tattoo-like devices. Moreover, the integration of emerging technologies including artificial intelligence, 5G networking, and Internet of Things is expected to accelerate the adoption of flexible electronics by enabling advanced applications across various end-use industries over the forecast period.

Porter’s Analysis
Threat of new entrants: The flexible electronics market requires high R&D investments and established supply chains, acting as a barrier for new players.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes and supply from various players.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to the availability of alternate raw material suppliers and commodity nature of materials.
Threat of new substitutes: OLED displays pose a threat, however flexible electronics have specific advantages over rigid alternatives in certain applications.
Competitive rivalry: The market has several global players competing on pricing and innovation.

Key Takeaways

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

Regional analysis: The Asia Pacific region is projected to grow at the fastest rate during the forecast period due to rising electronics manufacturing in China, Japan, South Korea and other emerging countries. The region accounts for over 50% of the global flexible electronics production.

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.

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