Global Flexible Hybrid Electronics Market Size Forecast 2024 - 2033
19 Dec, 2024
What Is The Overview Of The Global Flexible Hybrid Electronics Market?
Flexible hybrid electronics (FHE) refer to electronic devices fabricated on flexible substrates, combining rigid and flexible components. They enable the development of lightweight, conformable, and stretchable electronics suitable for various applications, ranging from wearable devices to IoT sensors. FHE revolutionizes electronics by enabling lightweight, durable, and customizable solutions that can conform to irregular shapes and surfaces.
Flexible Hybrid Electronics Global Market Report 2024 provides data on the global flexible hybrid electronics market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The Flexible Hybrid Electronics market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Estimated Market Size And Expected Annual Growth Rates For Global Flexible Hybrid Electronics?
The flexible hybrid electronics market size has grown rapidly in recent years. It will grow from $0.11 billion in 2023 to $0.12 billion in 2024 at a compound annual growth rate (CAGR) of 14.3%. The growth in the historic period can be attributed to the demand for foldable displays, the emergence of flexible sensors, the shift towards 5G networks, and the adoption of flexible printed circuit boards. The flexible hybrid electronics market size is expected to see rapid growth in the next few years. It will grow to $0.21 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%. The growth in the forecast period can be attributed to supply chain resilience and localization, government initiatives and regulations, expansion of the aerospace and defense sector, increased investment in research and development, and miniaturization of electronic devices. Major trends in the forecast period include advancements in printed electronics, rapid growth in Internet of Things (IoT) applications, advancements in flexible display technologies, technological convergence, and advancements in flexible sensor technology.
What Are The Leading Drivers Of Growth In The Flexible Hybrid Electronics Market?
The rising production of automobiles is expected to propel the growth of the flexible hybrid electronics market going forward. Automobiles refer to autonomous vehicles with four wheels driven by an electric motor or internal combustion engine and designed for use on public highways. The production of automobiles is rising due to increasing global demand, technological advancements, and expansion into emerging markets. Flexible hybrid electronics in automobiles enhance design flexibility and enable the integration of lightweight, conformable electronic systems for improved functionality and performance. For instance, in May 2023, according to the European Automobile Manufacturers Association, a Belgium-based automobile manufacturers association, in 2022, the global production of motor vehicles reached 85.4 million units, reflecting a notable increase of 5.7% compared to 2021. Therefore, the rising production of automobiles is driving the growth of the flexible hybrid electronics market.
Get Your Free Sample of the Global Flexible Hybrid Electronics Market ReportHow Are The Segments Defined Within The Global Flexible Hybrid Electronics Market?
The flexible hybrid electronics market covered in this report is segmented –
1) By Structure Type: Rigid Flex Circuit, Multilayer Flex Circuit, Double Sided Flex Circuit, Single Sided Flex Circuit, Other Structure Types
2) By Application: Displays, Batteries, Thin- Film Photovoltaics, Printed Sensors, Organic Light Emitting Diode Lighting, Other Applications
3) By Vertical: Industrial, Consumer Electronics, Automobile Industry, Military And Defense, Aerospace, Other Verticals
How Are New Trends Expected To Influence The Growth Of The Flexible Hybrid Electronics Market?
Major companies in the flexible hybrid electronics market are heavily investing to strengthen their market position. Investments in this sector involve funding the development, production, or application of electronic systems that combine flexible substrates with rigid components for versatile uses. For instance, in December 2022, NextFlex, a US-based electronics manufacturer, secured over $8 million in funding for Flexible Hybrid Electronics (FHE) innovations. This investment supports projects aimed at advancing hybrid electronics manufacturing, particularly in advanced semiconductor packaging and environmental sustainability. The grant, which includes contributions from various participants, will be used to address critical manufacturing challenges and develop environmentally sustainable electronics processes.
Which Region Drives The Highest Growth In The Flexible Hybrid Electronics Market?
North America was the largest region in the flexible hybrid electronics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the flexible hybrid electronics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.