Global Flexible Electronics Market 2023-2030

Global Flexible Electronics Market 2023-2030

MARKET OUTLOOK

Triton’s report denotes that the global flexible electronics market is set to witness revenue growth at a CAGR of 8.88% during the forecast period 2023-2030.

The market’s growth is supported by advancements in the flexible display, the rising need for compact and cost-effective products, increasing demand in the healthcare sector, and R&D activities. Flexible electronic devices are becoming increasingly essential in various industries like medical, automotive, and consumer electronics due to their lightweight, mechanical flexibility, and cost-effectiveness. Moreover, they have the potential to revolutionize computing by enabling bendable systems of any shape.

However, complicated assembly processes and weak encapsulation methods are expected to hamper the flexible electronics market’s expansion.

REGIONAL OUTLOOK

The global flexible electronics market includes Asia-Pacific, North America, Latin America, Europe, and the Middle East and Africa regions.

The Asia-Pacific is estimated to witness the fastest growth over the forecast period. The region’s growth is supported by the growing semiconductor industry across China, Taiwan, and Japan. Moreover, the expanding automotive and smartphone sector has fueled the adoption of flexible electronic materials. Over the years, smartphone adoption has surged immensely across highly populated nations, including China and India. Estimates indicate the penetration rate of smartphones to surge over the upcoming years. Hence, all these factors contribute heavily to the flexible electronics market.

COMPETITIVE OUTLOOK

The notable companies in the flexible electronics market are Sony Corporation, Fujikura Ltd, AGC Inc, LG Electronics Inc, Japan Display Inc, Sumitomo Corporation, AUO Corporation, Samsung Electronics Co Ltd, Flex Ltd, and Blue Spark Technologies.

Sumitomo Corporation is a Japanese trading and business investment company with a diverse portfolio spanning multiple markets such as construction, infrastructure, mining, real estate, transportation, logistics, media, power, energy, and chemicals. It offers a wide range of metal products, including steel, iron, copper, zinc, nickel, and uranium, catering to industries involved in transportation and construction equipment, automotive parts, etc. Sumitomo also provides supply chain management, logistics, and investment services. With global operations across the Middle East, Africa, Asia-Pacific, Europe, and the Americas, the company is headquartered in Tokyo, Japan.