The global flexible hybrid electronics market is witnessing increasing utilization in various industries such as healthcare, consumer electronics and automotive industries. Flexible hybrid electronics incorporate both printed and chip components on a flexible plastic or fabric substrate, making it an ideal solution for applications requiring conformability, stretchability, and lightweight attributes. It allows for designing of user interfaces that can adapt and change shape according to their environment and usage. Flexible hybrid electronics finds applications in developing innovative wearable technologies such as smart watches, fitness trackers, smart clothing and medical diagnostic patches.
The global flexible hybrid electronics market is estimated to be valued at US$ 160.85 billion in 2024 and is expected to exhibit a CAGR of 24% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Increasing demand for wearable technologies is a key driver of the flexible hybrid electronics market growth. Wearable devices integrated with flexible hybrid electronics offer features such as tracking fitness activity, monitoring vital health parameters and providing real-time updates to smartphones. They provide added convenience to users for tracking health and wellness on-the-go. Furthermore, flexible hybrid electronics allow for designing of wearable devices that can seamlessly merge with user attire without hampering mobility or comfort. This has increased consumer preference for such innovative wearable technologies.
Another driver as highlighted in the heading is its capability to be flourished by wearable technologies. Flexible hybrid electronics enables development of smart garments and textile-based electronic skins owing to their lightweight, stretchable and conformable characteristics. This has prompted research into developing wearables integrated with flexible hybrid electronics for uses in healthcare monitoring, human-device interfaces and augmented reality. Various companies are investing in R&D to leverage the potential of flexible hybrid electronics and strengthen their presence in emerging wearables market.
Segment Analysis
The global Flexible Hybrid Electronics market is dominated by the Display sub-segment which accounts for nearly 40% of the total market share. This is because display applications such as interactive displays, e-textiles and wearable electronics currently represent the most developed end-use category for FHE technology. The displays sub-segment is followed by Battery and Energy Harvesting sub-segment which contributes around 30% share.
PEST Analysis
Political: Government initiatives towards developing smart and flexible electronics are driving the market growth. Subsidies and funding for R&D in FHE technologies will boost adoption across various industries.
Economic: Rising disposable incomes and growing electronics manufacturing sector contribute to the increased demand for flexible and hybrid products across automotive, healthcare and consumer electronics.
Social: Increasing demand for wearable devices, health monitoring devices and interactive displays is supporting the market growth. Growing acceptance of innovating electronic products fosters the development of FHE technologies.
Technological: Advancements in materials such as organic electronics, flexible substrates and printing technologies enable the manufacturing of flexible circuits, sensors and displays. Development of stretchable and self-healable electronics will further augment the market.
Key Takeaways
The Global Flexible Hybrid Electronics Market Growth is expected to witness high at a CAGR of 24% during the forecast period of 2024 to 2031.
Regional analysis: The Asia Pacific region is anticipated to be the fastest growing market for FHE during the forecast period driven by increasing electronics manufacturing hub in countries such as China, South Korea and Taiwan. Governments in the emerging Asia Pacific economies are supporting the flexible electronics sector through funding in R&D which fuels the market growth.
Key players operating in the Flexible Hybrid Electronics market are Seres Therapeutics, Biomesense, Microbiotica, Infant Bacterial Therapeutics AB, Vedanta Biosciences, Inc., Second genome therapeutics, 4D Pharma Ferring Inc, Enterome, BiomX, MaaT Pharma, Azitra, Illumina, Inc, Locus Biosciences, Inc, Finch Therapeutics Group, Inc, Rebiotix Inc, Servatus Ltd, Microbiome Research Pvt. Ltd, AOBiome, Axial Therapeutics, Inc, Biomica.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
