Flexible Electronics & Circuit Market Worth $40B by 2023


Reading time ( words)

According to the new market research report "Flexible Electronics & Circuit Market by Application (OLED & LCD display, printed sensor, battery, thin-film PV, OLED lighting), circuit structure (single-sided, multilayer, double-sided, rigid), vertical, and geography - global forecast to 2023", published by MarketsandMarkets, the market is expected to grow from $23.92 billion in 2018 to $40.37 billion by 2023, at the CAGR of 11.0% between 2018 and 2023. Flexible electronics are formed by mounting electronic devices on a flexible/plastic substrate, such as a polyimide or transparent conductive polyester film. The development of flexible electronics has spanned the past 40 years, ranging from the development of flexible solar cell arrays to flexible OLED electronics on plastic substrates. Flexible electronic devices are easier to integrate into the end product and also tend to be lighter in weight.

The increasing adoption of flexible displays in smartphones and wearables is strongly driving market growth. The emergence of flexible batteries suitable for IoT and wearable applications is a good opportunity for market growth at the global level. Samsung Group (South Korea), LG Group (South Korea), and Solar Frontier (Japan) are some of the prominent players in the flexible electronics market.

The Flexible displays held the largest market share in 2017

Displays LCD and OLED are expected to hold the largest share of flexible electronics market during 2018-2023. The market for displays is led by industry leaders such as Samsung and LG who produce flexible OLED display panels that are largely being deployed in smartphones, smart wearables, and televisions. Leading smartphone manufacturers, such as Samsung and Apple, have adopted flexible OLED displays in their flagship smartphones. Flexible displays are also increasingly being deployed for television and digital signage applications due to their aesthetic appeal. The demand for flexible displays is expected to increase for more applications across various verticals are adopting the technology.

 

The automotive vertical is expected to demonstrate the fastest growth in the flexible electronics market during the forecast period

The automotive vertical is increasingly adopting flexible electronic devices as they can be easily integrated with the vehicle design allowing compact assembly. Flexible displays, OLED lighting solutions, and printed sensors are actively adopted in the automotive vertical. Flexible OLED lighting solutions are expected to be rapidly adopted for automotive applications due to their enhanced luminescence, improved power efficiency, and attractive design.

APAC region held the largest share of the flexible electronics market in 2017

APAC dominated the flexible electronics market, accounting for the largest market share in 2017. In addition, the region is likely to be the fastest-growing market for flexible electronics during the forecast period. APAC is the hub for manufacturers and customers of flexible OLED panels. In the market, Samsung and LG have been the leading companies that deploy flexible displays in smartphones and televisions. In APAC, Flexible sensors are also increasingly being used for healthcare applications. APAC has witnessed an increase in the installation of thin-film PVs in the recent years, and their deployment is expected to increase steadily in China. With Japan and India being prominent countries in the adoption of thin-film PVs, other countries in the region are also shifting toward renewable energy resources.

About MarketsandMarkets

MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Share


Suggested Items

Beyond Scaling: An Electronics Resurgence Initiative

06/05/2017 | DARPA
The Department of Defense’s proposed FY 2018 budget includes a $75 million allocation for DARPA in support of a new, public-private “electronics resurgence” initiative. The initiative seeks to undergird a new era of electronics in which advances in performance will be catalyzed not just by continued component miniaturization but also by radically new microsystem materials, designs, and architectures.

Today’s MilAero Options, Part 1: 'Pride Goeth Before...'

04/12/2016 | Marc Carter
Historians, with their 20/20 hindsight, often write about the inevitable decline and fall of kingdoms, empires, religions, organizations, governments, and all the other permanent structures we humans build.

Stretchable Inks: Changing the Wearables Market and the Landscape of Manufacturing

05/13/2015 | Barry Matties, I-Connect007
I-Connect007 Publisher Barry Matties and DuPont’s Steven Willoughby and Michael Burrows spoke recently and discussed new material for wearable electronics: stretchable inks. Wearable electronics is a fast growing sector of the electronics industry that is inspiring new and exciting products, as well as changing the requirements for becoming an electronics manufacturer.



Copyright © 2018 I-Connect007. All rights reserved.