What Has Been the Growth of the Flexible Electronics Market So Far?
The flexible electronics market has seen considerable growth due to a variety of factors.
• The market of flexible electronics has experienced rapid expansion in recent times. The market value is set to rise from $36.22 billion in 2024 to $41.47 billion in 2025, with a compound annual growth rate (CAGR) of 14.5%.
The notable growth in the historic period can be credited to the miniaturization of consumer electronics, applications in medical, healthcare, printed electronics, defense, aerospace, as well as advancements in display technology.
What Are the Future Growth Projections for the Flexible Electronics Market?
The flexible electronics market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the flexible electronics market is anticipated to experience considerable expansion. Its growth is projected to reach a value of $69.94 billion by 2029, with a compound annual growth rate (CAGR) of 14.0%.
Elements like foldable and rollable devices, renewable energy, sustainable and eco-friendly electronics, automotive exterior applications, energy storage, and flexible batteries are the key contributors to this expected growth during the forecast period. Notable trends during this period are anticipated to include wearable health and fitness tech, integration of the internet of things (IoT), medical wearables and implants, flexible sensors and robotics, 5G connectivity, and flexible antennas.
Which Factors Are Boosting Growth In The Flexible Electronics Market?
The growth of the flexible electronics market is being propelled by an increasing demand for consumer electronic devices. Consumer electronics or CE, which are electronic equipment specifically made for regular, non-commercial, or professional usage by end-users or consumers, are widely using flexible electronics. Consequently, the surge in demand for consumer electronics broadens the market for flexible electronics. For example, LG, a consumer electronics company based in South Korea, reported in its annual financial report 2022 that for the first time in the company's history it had surpassed $60 billion in sales in 2022. This figure marked the largest annual revenue in LG's history, with a 12.9% increase since 2021 when it had recorded around $52.70 billion in sales for the first time. Furthermore, in 2022, the LG Home Appliance & Air Solution Company had managed to break its own record by earning a revenue of $22.5 billion, a 10.3% increase from the preceding year. Hence, the flexible electronics market is being driven by the growing demand for consumer electronics.
What Key Areas Define The Segmentation Of The Global Flexible Electronics Market?
The flexible electronics market covered in this report is segmented –
1) By Component: Flexible Display, Flexible Battery, Flexible Sensors, Flexible Memory, Flexible Photovoltaics
2) By Circuit Structure: Single-Sided, Double-Sided, Other Circuit Structures
3) By Application: Displays, Thin-Film Photovoltaics, Printed Sensors, Batteries, Organic Light Emitting Diodes (OLED) Lighting, Other Applications
4) By Vertical: Consumer Electronics, Energy And Power, Healthcare, Automotive, Military And Defense, Aerospace, Other Verticals
Subsegments:
1) By Flexible Display: OLED Displays, LCD Displays, EPD Displays
2) By Flexible Battery: Lithium-Ion Flexible Batteries, Solid-State Flexible Batteries
3) By Flexible Sensors: Pressure Sensors, Temperature Sensors, Touch Sensors
4) By Flexible Memory: Flexible SRAM, Flexible Flash Memory
5) By Flexible Photovoltaics: Organic Photovoltaics (OPV), Thin-Film Photovoltaics
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How Are Emerging Trends Reshaping The Dynamics Of The Flexible Electronics Market?
Innovations in technology are actively molding the mobile gaming industry. The continual advancements and increasing popularity of mobile gaming technology are fostering market demand. For example, in 2022, NextFlex, the Flexible Hybrid Electronics (FHE) Manufacturing Institute based in America, launched Project Call 7.0 (PC 7.0). This is their latest call for project proposals aimed at funding initiatives that facilitate the growth and integration of FHE while addressing significant issues in the field of advanced manufacturing and aligning with DOD priorities. PC 7.0 leverages the achievements and maturity of past Project Calls by persistently employing widely encompassing topics to attract diverse proposers. It particularly emphasizes areas where FHE can influence high-priority U.S. manufacturing opportunities and unfolding areas of significance within the FHE circle.
Who Are the Key Players in the Flexible Electronics Market?
Major companies operating in the flexible electronics market include:
• Blue Spark Technologies Inc.
• OLEDWorks LLC
• AU Optronics Corp.
• Cymbet Corporation
• E Ink Holdings Inc.
• Enfucell Oy
• Flex Ltd.
• FlexEnable Ltd.
• Flexpoint Sensor Systems Inc.
• Imprint Energy Inc.
• LG Electronics Inc.
• Palo Alto Research Center Incorporated
• Royole Corporation
• Samsung Electronics Co. Ltd.
• Solar Frontier K.K.
• LG Corporation
• Enfucell Flexible Electronics Co. Ltd.
• E Ink Holdings
• Jabil Inc.
• Bebop Sensors Inc.
• Sensing Tex SL
• Coatema Coating Machinery GmbH
• Agfa-Gevaert NV
• GSI Technologies
• Ynvisible Interactive Inc.
• Isorg SA
• PragmatIC Semiconductor
• Thales Digital Factory
• StoreDot Ltd.
What Is The Most Dominant Region In The Flexible Electronics Market?
Asia-Pacific was the largest region in the flexible electronics market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the flexible electronics market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
