According to the report, global flexible electronics market was valued at USD 5.13 billion in 2015 and is expected to generate revenue of USD 16.50 billion by end of 2021, growing at a CAGR of slightly above 21% between 2016 and 2021.
Flexible electronics also known as flex circuits is a technology for assembling a flexible electronic device Flex circuits are often used as connectors in a variety of applications including flexibility, space savings, or production constraints, limit the serviceability of rigid circuit boards or hand wiring. A general application of flex electronics is in computer keyboards. Flexible electronic devices are lightweight & compact, ultra-thin, generate low heat and consume little energy.
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The flexible electronics market is primarily driven by individual features of flexible circuits and increasing consumer goods industry. The global flexible electronics market is expected to show rapid growth due to the continuous technological development and high demand in consumer electronics market. Moreover, Consumer electronic devices like smart watches, smart glasses, smartphones, e-books, and e-papers are creating demand for flexible electronics devices. However, increasing competition from newest technologies such as printed electronics LCD, LED, etc. may limit the flexible electronics market growth. Nonetheless, high penetration in multiple applications such as military, digital signage & energy harvesting applications is expected to open new growth avenues for the market.
Based on components, the global flexible electronics market is segmented into displays, battery, sensors and memory. Display component segment dominated the flexible electronics market in terms of revenue and accounted for over 48% share of the overall market in 2015. The battery segment is expected to witness moderate growth rate over the forecast period.
Some of the key application segment in flexible electronics market includes automotive, consumer electronics, healthcare and industrial applications. Consumer electronics segment dominated the flexible electronics market in 2015, which accounted for 52% market share of the total market. It is expected to grow at a significant rate over the next few years. Healthcare segment is expected to witness a steady growth during the forecast period. The automotive and industrial segment is also expected to grow at substantially over the next few years.
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In terms of geography, North America is one of the largest markets for flexible electronic in the world and accounted for over 28% share of the total market in 2015. Europe is also expected grow at a moderate rate in the years to come. Moreover, Asia-Pacific is expected to witness the fastest growth during the forecast period.
Some of the key players in the flexible electronic market include Samsung, Pragmatic Printing Ltd., PARC, Thinfilm Electronics ASA, Solar Frontier K.K., LG Corporation, 3M, Multi-Fineline Electronix, Inc., and Cymbet Corporation, Inc.
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