Flexible Electronics Industry Overview

The global flexible electronics market size was valued at USD 24.94 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 10.5% from 2023 to 2030.

A noticeable increase in the adoption of laptops and smartphone products by consumers and the wide applicability of flexible electronics such as flexible batteries and displays in the consumer electronic industry is a major factor expected to drive the global flexible electronic market growth. Consumer electronics manufacturers are focused on developing advanced products that are small and have better functionality. Integrating flexible displays and batteries aids in developing lightweight, rugged, bendable, and durable products.

Gather more insights about the market drivers, restrains and growth of the Flexible Electronics Market

The healthcare sector across the globe is witnessing rapid advancements in medical devices, surgical procedures, and diagnostic tools. Also, consumers’ demand for minimal surgical/diagnostic procedures is gaining traction, which calls for medical devices/equipment with excellent electrical properties, flexibility, and stretchability. This high demand for advanced medical devices/equipment is expected to increase demand for flexible batteries and sensors, which is another factor expected to support the growth of the global flexible electronic market. For instance, in May 2022, Vivalink, a global digital healthcare solution provider, launched the multi-vital blood pressure patch for commercial and RD purposes. This patch aids in monitoring and capturing ECG traces, heart rates, respiratory rates, and others, through electrical signal-based technology.

The sales of commercial and passenger vehicles in countries such as the U.S., China, and India are witnessing rapid growth due to increasing consumer spending. The vehicle manufacturers are focused on introducing vehicles with advanced features and better interiors, such as thin-film heaters, flexible backlighting, and capacitive touch surfaces, to differentiate between other models and attract more customers. Thus, the wide applicability of printed sensors and batteries in the automotive sector is expected to support the growth of the market.

The entertainment and gaming industry constantly strives to provide consumers with more immersive experiences. From virtual reality (VR) headsets to curved OLED displays, flexible electronics enable the creation of devices that offer a more immersive and realistic user experience. For instance, curved screens wrap around the user's field of vision, enhancing the feeling of presence in virtual environments. As a result, manufacturers are increasingly investing in flexible display technologies to cater to this demand for immersive content consumption. The gaming industry substantially impacts the development of flexible electronics, particularly by designing gaming consoles and portable gaming devices.

Browse through Grand View Research's Electronic Devices Industry Research Reports.

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Global Flexible Electronics Market Report Segmentation

The report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global flexible electronics market report based on component, application, and region.

Component Outlook (Revenue, USD Million, 2018 - 2030)

• Displays
• Batteries
• Sensors
• Memory Devices
• Others

Application Outlook (Revenue, USD Million, 2018 - 2030)

• Consumer Electronics
  • Television
  • Wearable Devices
  • Smartphone
  • Others
• Automotive
• Healthcare
• Industrial
• Others

Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  • US
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East Africa (MEA)
  • UAE
  • Saudi Arabia
  • South Africa

Key Companies Market Share Insights

The key players engage in several growth strategies, including partnerships, mergers acquisitions, and geographical expansion, to stay afloat in the competitive market scenario. For instance, in June 2023, Forsee Power, a battery manufacturer, launched FLEX PLUS, a flexible battery system. The battery system is developed for electric heavy vehicles such as trucks, buses, and off-highway vehicles. The battery system will allow electric vehicles to use or charge with thermal hybrid applications. Some prominent players in the global flexible electronics market include:

• 3M
• E INK HOLDINGS INC
• First Solar
• General Electric
• ITN Energy Systems Inc.
• LG Electronics
• MFLEX
• Palo Alto Research Center LLC
• SAMSUNG
• SOLAR FRONTIER K.K.

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