Flexible electronics incorporate flexible hybrid electronics that are thin, lightweight, deformable and durable. They exhibit several advantages over rigid electronics such as increased durability, reduced weight and adaptability across various applications. The rising demand for portable, flexible and wearable devices has majorly driven the adoption of flexible technologies.
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 increased adoption of flexible technologies has accelerated the growth of the flexible electronics market over the forecast period. Various industries such as consumer electronics, automotive and healthcare have started widely incorporating flexible components and circuits in their products to enhance their functionality. This can majorly be attributed to the various advantages offered by flexible electronics such as their lightweight, durability and ability to conform to any surface or shape. Their growing usage in applications such as displays, battery components, sensors and memory devices is expected to drive the flexible electronics market during the forecast period.
Segment Analysis
The global flexible electronics market is segmented by component into display, battery, sensors, memory and storage components. The display segment dominates the market currently and is expected to continue its dominance over the forecast period. Flexible displays are increasingly being used in wearable devices, smartphones and televisions. Its thin, lightweight and flexible nature allows for innovative designs not possible with regular displays. Increasing demand for curved and rollable displays from consumer electronics is driving the display segment's growth.
Key Takeaways
The Global Flexible Electronics Market Demand is expected to witness high growth over the forecast period. 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.
North America currently dominates the market due to extensive research and development activities in the region. The presence of major players and increasing penetration of flexible electronics in applications such as consumer electronics and automotive is fueling market growth in the region. Asia Pacific is expected to be the fastest growing market owing to strong manufacturing base of consumer electronics in countries like China, South Korea and Taiwan. Increasing use of Internet of Things is another factor accelerating regional market growth.
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. Ceva Logistics specializes in design, implementation and execution of supply chain solutions. Kuehne + Nagel provides sea freight, air freight, contract logistics and road transport services. Dhl offers e-commerce fulfillment, inventory management and reverse logistics for flexible electronics manufacturers and brands.)
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