Flexible Electronics Market to Reach $57.2 Billion, Globally, by 2032 at 8.21% CAGR: Allied Market Research
Saturday, February 10, 2024
The flexible electronics market is driven by several factors, including the rise in the implementation of the Internet of Things (IoT), increased government concern for flexible electronics, growing demand for portable and smart electronic products, and the growth of printed electronics.
WILMINGTON, Del., Feb. 2, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Flexible Electronics Market by Component (Flexible Display, Flexible Battery, Flexible Sensors, Flexible Memory, Flexible Photovoltaics), Application (Consumer Electronics, Automotive, Medical and Healthcare, Energy and Power, Aerospace and Defense, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global flexible electronics industry generated $26.2 billion in 2022, and is projected to reach $57.2 billion by 2032, registering a CAGR of 8.21% from 2023 to 2032.
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-- 256- Pages
-- 127- Tables
-- 50- Charts
Prime determinants of growth
The market for flexible electronics is expected to witness substantial expansion during the forecast period. This growth is primarily driven by factors such as the rise in the implementation of the Internet of Things (IoT), an increase in government concern for flexible electronics, and a rise in demand for portable and smart electronic products. Additionally, growth in printed electronics is expected to further benefit the flexible electronics market. However, cost constraints present a significant restraint to the growth of the flexible electronics market during this forecast period.
Report coverage & details:
Report Coverage
Details
Forecast Period
2022-2032
Base Year 2022
Market Size in 2022
$26.2 billion
Market Size in 2032
$57.2 billion
CAGR 8.21 %
No. of Pages in Report 271
Segments covered
Component, Application, and Region.
Drivers Rise in implementation of Internet of Things
(IoT)
Increase in concern of government for flexible
electronics
Rise in demand for portable and smart
electronic products
Opportunities
Growth in printed electronics
Restraints
Cost constraint
The flexible display segment is anticipated to dominate in terms of revenue during the forecast period
Based on components, the flexible display segment accounted for more than half of the total revenue in the global flexible electronics market in 2022, and it is expected to continue its dominant position throughout the forecast period. It is expected to experience the fastest CAGR of 9.33% from 2023 to 2032. The segment's remarkable growth is primarily attributed to its ability to enable the development of smaller, lighter, and more durable portable devices with advanced display technology.
The consumer electronics segment is projected to retain the lion's share by 2032
Based on application, the consumer electronics segment emerged as the market leader in the global flexible electronics market in 2022, holding more than half of the market share. Simultaneously, the same segment is projected to witness the fastest CAGR of 8.84% from 2023 to 2032. This dominance can be attributed to the widespread adoption of wearable devices, smart electronics, and investments in flexible display technologies by leading market players.
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Asia-Pacific garnered the major share in 2022
Based on region, Asia-Pacific dominated the flexible electronics market revenue in 2022, representing nearly two-fifths of the global market share. The same segment is projected to experience the fastest CAGR of 9.28% from 2023 to 2032, due to robust technological advancements and increasing demand for consumer electronics in the region.
Leading Market Players:
-- Samsung Electronics Co. Ltd.
-- Palo Alto Research Center Incorporated
-- Solar Frontier
-- Enfucell SoftBattery
-- Cymbet Corporation
-- Blue Spark Technologies
-- E Ink Holdings Inc.
-- Imprint Energy Inc.
-- LG Electronics
-- AU Optronics Corp.
The report provides a detailed analysis of these key players in the global flexible electronics market. These players have adopted a product launch strategy to increase their market penetration and strengthen their position in the industry. The report helps determine the business performance, operating segments, developments, and product portfolios of every market player.
Key Industry Developments:
May 2021 - Samsung revealed its future foldable display concepts, which encompassed a 7.2-inch double-folding OLED panel, a slidable OLED display, and a 17-inch foldable panel tailored for a potential Galaxy tablet. Additionally, Samsung demonstrated an under-panel camera (UPC) display within a concept notebook, with a focus on achieving edge-to-edge screens. These innovations showcased Samsung's unwavering commitment to maintaining a leading position in foldable technology, especially in the face of increasing industry competition.
November 2021 - Japanese CIS thin-film PV module manufacturer, Solar Frontier, made a strategic decision to discontinue thin-film productions and introduced its inaugural monocrystalline solar panel, the SFB250-88A. This new panel, designed for residential markets and boasting a 250 W capacity, is part of the company's transition towards becoming a PV system provider and OEM panel manufacturer. Notably, the SFB250-88A offers a 22% higher yield compared to the company's previous CIS modules and includes a 20-year performance guarantee.
Key Benefits for Stakeholders
-- To provide an accurate view of future investment pockets, this study
provides analytical estimates for flexible electronics market size along
with current trends and estimations.
-- In order to be able to achieve a more prominent position, the overall
flexible electronics market analysis is based on an understanding of
prevailing profitability trends.
-- The report presents information related to key drivers, restraints, and
flexible electronics market opportunity with a detailed impact analysis.
-- In order to measure financial competence, flexible electronics market
forecasts shall be quantitatively analyzed from 2022 until 2032.
-- The Porter five forces analysis shows that buyers and suppliers are more
powerful in the flexible electronics market.
-- Key vendor shares and flexible electronics market trends are included in
the report.
Flexible Electronics Market Key Segments:
By Application:
-- Consumer Electronics
-- Automotive
-- Medical and Healthcare
-- Energy and Power
-- Aerospace and Defense
-- Others
By Component:
-- Flexible display
-- Flexible battery
-- Flexible sensors
-- Flexible memory
-- Flexible photovoltaics
By Region
-- North America (U.S., Canada, Mexico)
-- Europe (Germany, UK, France, Spain, Italy, Rest of Europe)
-- Asia-Pacific (China, Japan, India, South Korea, Australia, Rest of
Asia-Pacific)
-- LAMEA (Brazil, Saudi Arabia, UAE, South Africa, Rest of LAMEA)
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Printed Electronics Market growth was valued at $9.4 billion in 2022, and is projected to reach $55.7 billion by 2032, growing at a CAGR of 20.1% from 2023 to 2032.
Flexible OLED Market was valued at $4.1 billion in 2021, and is projected to reach $117.7 billion by 2031, growing at a CAGR of 40.4% from 2022 to 2031.
Borescope Market Size, Share, Competitive Landscape and Trend Analysis Report: Global Opportunity Analysis and Industry Forecast, 2023-2032
Flexible Electronics Market was valued at $26.2 billion in 2022, and is projected to reach $57.3 billion by 2032, growing at a CAGR of 8.2% from 2023 to 2032.
Germany Flexible Electronics Market : Global Opportunity Analysis and Industry Forecast, 2022-2032
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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