Flexible electronics refers to electronic devices that are constructed from materials and components that are mechanically flexible or stretchable. Some key products under flexible electronics include flexible displays, flexible sensors, flexible batteries, and printed electronics. Flexible displays are seeing rising adoption in consumer electronics such as e-books, laptops, tablets, and smartphones. Flexible sensors are commonly used in wearable devices for continuous monitoring of vital signs. Additionally, rising adoption of printed and flexible batteries are enabling the development of flexible and wearable devices in sectors such as healthcare, consumer electronics, and industrial sectors.
The global flexible electronics market is estimated to be valued at US$ 30.71 Bn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Growing demand for wearable electronics and healthcare devices are expected to be the key growth drivers of the flexible electronics market over the forecast period. Wearable electronics such as smartwatches, wristbands, and fitness trackers have witnessed exponential growth due to their advantages such as real-time monitoring capabilities. According to the Consumer Technology Association (CTA), 260 million wearable devices were shipped worldwide in 2021. Rising preference for non-invasive monitoring solutions in healthcare is also fueling innovations in flexible and printed sensors. Easy integration of flexible sensors in fabrics enables continuous monitoring of health vitals without discomfort. Additionally, advancements in flexible display technologies are enabling the development of flexible smartphones and tablets. Major technology companies are investing significantly in developing breakthrough flexible display technologies. Ongoing R&D in flexible batteries is further supporting innovations in flexible and lightweight devices.
The flexible electronics market is segmented into display, batteries, memory and data storage, sensors and actuators, lighting and others. The display segment currently dominates the market and accounts for over 30% share owing to widespread adoption of flexible AMOLED displays in smartphones and consumer electronics. The memory and data storage segment is expected to grow at highest CAGR during the forecast period due to ongoing research in developing flexible storage devices such as flexible SSDs and micro-SD cards.
Political: Government regulations on the usage of certain materials in flexible electronics manufacturing can impact production costs. However, supportive policies promoting electronics manufacturing and innovation provide opportunities.
Economic: The flexible electronics market is fueled by strong demand from consumer electronics, automotive and healthcare industries. Rising disposable incomes globally is a major driver for consumer electronics adoption.
Social: Younger demographic prefers thinner, lightweight and foldable devices using flexible display and wireless connectivity is a major trend. Customization and aesthetic design offered by flexible form factors will further influence consumers.
Technological: Advancements in materials science enabling improved flexibility, durability and yield rates of devices. Miniaturization of components allows for development of new use cases across industries. Companies investing heavily in R&D to commercialize emerging technologies.
Global Flexible Electronics Market Demand is expected to witness high growth over the forecast period.
Regional analysis: Asia Pacific currently holds the largest share of over 40% with countries like China, South Korea and Taiwan emerging as major hubs for flexible electronics manufacturing. Rapid urbanization and digitization in India and Southeast Asian countries are fueling demand.
Key players: Key players operating in the flexible electronics market are Kurihama Medical and Addiction Center, National Hospital Organization Kurihama Medical and Addiction Center, Osaka National Hospital, National Hospital Organization Nagasaki Medical Center, National Hospital Organization Kochi Medical Center, National Center for Mental Health (Nashilgil Hospital), Seoul St. Mary’s Hospital, Samsung Medical Center, Yonsei University Health System, Asan Medical Center, Beijing HuiLongGuan Hospital, Peking University Sixth Hospital, Beijing Huilongguan Hospital, Shanghai Mental Health Center, Tongji Medical College, Huazhong University of Science and Technology, National Institute of Mental Health and Neurosciences (NIMHANS), All India Institute of Medical Sciences (AIIMS), Tata Memorial Hospital, VIMHANS (Vidyasagar Institute of Mental Health and Neurosciences), Schizophrenia Research Foundation (SCARF), Promises Healthcare (Singapore), The Cabin Chiang Mai (Thailand), The Dawn Medical Rehab and Wellness (Thailand), The Solace Sabah (Malaysia), The Kusnacht Practice (Singapore).
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it