Flexible electronics also known as flex circuits are electronic circuit assemblies printed or mounted substrates such as polyether ether ketone (PEEK), polyimide, or any transparent conductive polyester. Flexible printed circuits are flexible in nature and are made using photolithographic technology.
Major factors driving growth of the global flexible electronics market are rapid development and technological advancements in consumer electronics industry coupled with increasing demand for flexible displays and smart wearables. In addition, increasing adoption of flexible electronics products from aerospace and healthcare sector is another factor further propelling growth of the global market. A major factor hampering growth of the global flexible electronics market is high manufacturing cost. However, technological advancements towards product development so as to increase its applications is expected to create lucrative opportunities for major manufacturers in the global market over the forecast period.
On the basis of component, the global market is segmented into display, battery, sensors, memory, and others. The display segment accounts for highest market share; whereas the battery segment is expected to witness highest growth over the forecast period.
On the basis of application, the global market is segmented into consumer electronics, automotive, healthcare, industrial, and others. The consumer electronics segment accounts for highest market share and is expected to maintain its dominance over the forecast period.
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On the basis of region, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market is North America accounts for highest market share; whereas the market in Asia Pacific is expected to witness highest growth over the forecast. The growth in Asia Pacific flexible electronics market can be attributed to increasing adoption of flexible electronics in healthcare sector and presence of major consumer goods manufacturers in countries in this region.
Key players in the global market Samsung Group, LG Group, Panasonic Corporation, Konica Minolta, Thinfilm Electronics ASA, Solar Frontier, OLEDWorks LLC, Blue Spark Technologies, Pragmatic Printing Ltd., Cymbet Corporation, and other prominent players.