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Market OverviewThe flexible electronics market is expected to register a CAGR of 10.7% during the forecast period (2019 - 2024). The lightweight, ultra-thin and foldable features of flexible electronics are inspiring new applications such as hybrid, flexible system-in-foil (SiF) beyond the capabilities of traditional silicon- or glass-based substrates. Ultra-thin chip technology is identified as an enabler for overcoming bottlenecks in microelectronics, such as 3D integration, which will provide growth opportunities in the market.
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- Employment of flexible electronic components for IoT applications is a key driver for the market. Flexible electronic devices, including RFIDs, sensors,etc, are considered to be the technological basis of the IoT. Graphene has high device operating frequencies to enable IoT applications while TFT (tunnel field effect transistors) is 2D semiconductor-based device that makes use of the quantum tunneling phenomenon with low Ioff currents, which makes it suitable for low power IoT applications.
- Support for solar energy projects is driving the market. The use of flexible electronic materials can reduce weight, improve portability, and simplify PV system installation, in addition to enabling entirely new electronics applications such as wearable sensors and smart labels. A printed monolithically integrated OPV module is developed for flexible electronics applications, which is increasing the market.
- Due to established market of traditional electronic and high cost of circuits over rigid PCB (Printed Circuit Boards), there is a market restraint in the growth of market.
Scope of the Report
Flexible electronics market is growing due to technological advancements in electronics and semiconductors offering the advantage in terms of product shape, light weight and durability. It has wide range of applications in automotive industries, wireless communications, displays and human machine interaction, energy management and portable devices, which are likely to propel the market in future.
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Key Market Trends
3D Integration in Healthcare is Allocated to Grow the Market
- As 3D printed market is growing, it has a wider area of application in healthcare sector by using 3D printed flexible electronic devices. 3D printer that paves the way for direct printing of biomedical devices onto human skin, this printer builds flexible electronic sensors that measure pressure in the body. They’re expected to improve sensation in prosthetic hands and surgical robotic arms.
- The 3D printed flexible electrical glove could be used for comfort thermotherapy of the patient's hand, as the heat formed by these flexible electronic devices can treat injury points through enhancing the blood flow and reducing pain.
- These 3D printed flexible electronic devices can be applied widely in the fields of prosthetic organs for the disabled person. In July 2018, Humanity & Inclusion (NGO in France) was responsible for fabricating approximately 100 orthopedic electronic devices for those in need in Madagascar, Togo, Mali, and Niger regions.
- As complex electronics can be 3D printed at micron resolution which are enabling cheaper medical gadgets, these advantages render 3D printed flexible electronic devices as the future trend and provide great opportunity for the development of flexible electronic devices.
Asia-Pacific to Execute Significant Growth Rate
- Asia-Pacific is the fastest growing market in the flexible electronics market. The region is considered as a stronghold for the consumer electronics market as majority of the top electronic manufacturing companies have their origins in Asia.
- The market is dominated by computer hardware and smartphones. With growing demand for compact and light-weight electronic devices such as wearables, the flexible electronics market is bound to show positive numbers in the long run. There has been a significant rise in the usage of fitness wearables especially in the case of the population concerned about the fitness issues and other sportspersons, such as divers, cyclists and race runners. Therefore, this rising trend of wearable devices is expected to drive the market in this region.
- China has developed a robust indigenous liquid crystal display (LCD) industry which it is using to leverage market entry in organic light-emitting diode (OLED) displays, by which the demand of flexible electronics will grow in the country.
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Competitive Landscape
The flexible electronics market is fragmented and due to the emergence of exclusive manufacturers focusing primarily on the development of efficient flexible electronics, these manufacturers are offering technologically innovative products that provide a variety of benefits related to power efficiency and product design. Industry players are seen investing in R&D to strengthen their market position. Key players are 3M, E Ink Holdings, Inc., Panasonic Corporation, etc. Recent developments in the market are -
- May 2019 - E Ink Holdings, Inc. the leading innovator of electronic ink technology displayed its latest innovations in color displays, writing films and new light transmissive films at SID Display Week 2019 in San Jose. This new, innovative variable transmission light control film technology provides variable tint and on demand privacy solutions, which is fast switching, bistable and acceptable.
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Contact Info:
Name: Hector Costello
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Organization: Orbis Research
Website: https://www.orbisresearch.com/reports/index/flexible-electronics-market-growth-trends-and-forecast-2019-2024
Release ID: 88924040
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