The Global Flexible Electronics Market is Segmented by Type (Single Sided Flex Circuits, Double Sided Flex Circuits, Multi-Layer Flex Circuits, Rigid Flex Circuits), by Application (Smart Phone, Computer, Camera, Liquid Crystal Display, Electrical Instrumentation And Medical Treatment, Defense And Aerospace, Automobile). Global Opportunity Analysis and Industry Forecast 2023–2028. It is published in Valuates Reports under the Computers & Electronics Category.
Due to the COVID-19 pandemic, the global Flexible Electronics market size is estimated to be worth US$ 22340 million in 2022 and is forecast to be a readjusted size of US$ 55220 million by 2028 with a CAGR of 16.3% during the review period.
Major factors driving the growth of the Flexible Electronics Market
The Flexible Electronics market is expanding due to a number of factors, including the rising demand for consumer electronics products and the lower production costs compared to rigid substrates.
The global market development is being positively impacted by the increasing sales of Internet of things (IoT) devices. The Flexible Electronics market is anticipated to rise in response to the increasing demand from customers throughout the world for creative, small, and smart consumer electronics. Additionally, the market growth is being positively impacted by the quickly expanding printed electronics industry.
Trends influencing the growth of flexible electronic market
Although the field of flexible electronics is still in its infancy, the fact that it can function with less expensive substrates already sets it apart from more conventional electronics, which depend on pricey substrates like glass. People will eventually be able to print flexible electronic components on a less expensive substrate like the plastic film as technology advances. Companies will employ less expensive, flexible substrates like plastic to retain gadget functionality in place of needing to use pricey glass substrates. This factor is expected to drive the growth of the Flexible Electronics market.
One of the key advantages of flexible electronics is portability. Traditional electronics sometimes include glass-based displays constructed of parts that are more likely to break, making them difficult to move. Due to the organic thin-film transistors used in flex circuits, which enable goods to be substantially smaller and lighter, you avoid this issue. These modifications have made it such that devices using flexible electronics frequently have the strength and dimensions required for simple transportation. This factor is expected to drive the growth of the Flexible Electronics market.
With fresh applications and improved design capabilities, flexible electronics research has continued to push the limits of the technology. The development of flexible sensors and displays has been one of the flexible electronics’ most significant advances. Companies that employ flex circuits particularly value the wider range of design possibilities they give consumers because of their flexibility. With this technology, you could drive a car with monitors that use flexible electronics while having a smartphone clasped around your wrist. Flex circuits’ flexibility to be customized virtually ensures that businesses will continue to employ them for innovative new applications and to enhance legacy products. This factor is expected to drive the growth of the Flexible Electronics market.
Flex circuits enable businesses to provide customers with more individualized experiences. As an illustration, consider goods like smart bracelets whose screens use flexible electronics. Systems, sensors, and displays are combined in a smart band to track and transmit data to users. These gadgets frequently enable users to monitor their health and communicate with their peers. These complicated gadgets may be worn on your wrist thanks to flex circuits. Flex circuits may be customized to precisely meet the requirements of a specific application, in addition to merely giving customers personalized data. This factor is expected to drive the growth of the Flexible Electronics market.
To continually improve their goods, major industry players are making significant investments in R&D. Major corporations are encouraging and challenging one another to make use of flexible technology through these advances. It is anticipated that companies in the flexible electronics and circuit market would benefit financially from the industry’s ongoing technical advancement. This factor is expected to drive the growth of the Flexible Electronics market.
