Flexible Electronics Market to Reach $87.2 Billion by 2024


Reading time ( words)

The global flexible electronics market was $20.85 billion in 2015, which is estimated to reach $87.2 billion by 2024, according to a new report by Grand View Research, Inc. Escalating demand for compact and light-weight electronic devices is anticipated to fuel growth over the forecast period. Flexible batteries, displays, memories are a few products realized with the adoption of this technology. The technology provides ample opportunities in the area of smart textiles, which is the future of wearable’s. Government support in the form of funding that lends a helping hand to several research projects in this field is also anticipated to impact the industry growth positively.

Healthy demand for smart glasses, e-books, smartphones, smart watches, and e-papers is expected to catapult market growth over the next eight years. The technology facilitates electronic systems to be stretched, rolled, and flexed, minimizing design issues associated while developing compact, portable and miniature devices. The style and functionality of wearable devices is anticipated to witness a transition over the next eight years with companies such as Samsung, Apple, Nike and Google investing heavily in this segment, thereby providing avenues for discovering novel applications incorporating this technology.

Further key findings from the report suggest:

  • The consumer electronics segment accounted for over 55% of the overall revenue in 2015. The year 2014 witnessed the onset of new curved televisions, smartphones, and other electronic devices; a trend that gained traction in 2015, and is expected to impact the flexible electronics demand favorably from 2016 to 2024 owing to high penetration in the wearable’s segment
  • The display segment is projected to grow at a CAGR exceeding 16% over the forecast period. It is primarily attributed to the ability of these products to curve, roll, flex, conform and fold, enabling a new intuitive user interface. Further, companies are progressing towards the use of plastic displays as an alternative to glass displays, which provides opportunity for future growth
  • Wearable devices segment accounted for over 40% of the overall revenue in 2015 and is expected to witness a healthy demand over the forecast period. This increase is primarily ascribed to upsurge in demand for fitness or activity trackers as these products are well-positioned in the market with a promise of tracking productivity, physical activity, heart rate, sleep, etc. that intrigues customers
  • Asia Pacific flexible electronics market accounted for over 20% of the overall revenue share in 2015. Research capabilities and aggressive investments by major industry players such as LG and Samsung Electronics in anticipated to drive regional growth over the forecast period
  • Prominent industry participants include 3M, E Ink Holdings Inc., GE Measurement & Control Solutions, ITN Energy Systems Inc., LG, PARC, Samsung, and Thinfilm Electronics ASA. Strategic alliances among the major stakeholders such as material manufacturers, academia, and device integrators is anticipated to strengthen the existing technology know-how while driving drive efforts to explore new application areas

Share

Print


Suggested Items

I-Connect007 Editor’s Choice: Five Must-Reads for the Week

01/07/2022 | Nolan Johnson, I-Connect007
No matter how you look at it, we’re already off to a roaring start in 2022. Here on the West Coast of the U.S., heavy and persistent rains are doing what they can to fix years of drought through the southwest United States. The eastern seaboard is seeing plenty of rainy weather as well. As they say on the salt containers: When it rains, it pours. That adage is rather true in the news of the industry this week. Therefore, my must-reads include a celebration of longevity in business, the launch of our next space telescope, and the sale of equipment for the printing of electronics. On a more circumspect note, we also bring you the IPC’s report on rising material and labor costs, and an article on cybersecurity.

Jackie Mattox Keynotes Women in Electronics Reception

12/22/2021 | Alicia Balonek, IPC
Named one of the Top 21 female influencers in 2021, Jackie Mattox started her career in the electronics industry during her college years at a small rep firm in Southern California, where she worked her way into the roles of sales and distribution manager and took a passionate interest in strategic key account management. Jackie graduated from California State UniversityNorthridge with a Bachelor of Arts degree in communication/journalism. Jackie has always had a heart for people and especially for women’s issues, along with a dedication to personal and professional leadership development.

I-Connect007 Editor’s Choice: Five Must-Reads for the Week

12/17/2021 | Andy Shaughnessy, Design007
I’m starting to get more and more out-of-office replies. Are you reading this on your phone while standing in line at Best Buy? But if you’re reading this, here’s to you! It’s been a pretty good year—much better than last year, though that’s a fairly low bar to clear. It’s a mixed bag this week, with news about trade shows, along with articles and interviews focusing on everything from education to methods for dealing with supply chain issues by staying flexible and taking action earlier in the process.



Copyright © 2022 I-Connect007. All rights reserved.