Flexible hybrid electronics combines the functionality of rigid printed circuit boards with the flexibility of plastic substrates. It incorporates several electronic components like sensors, batteries and microprocessors on thin plastic or polymer foils to allow flexible and conformal form factors. These electronics can bend, stretch, and twist without compromising performance making them ideal for uses in wearable devices and e-textiles. The growing demand for wearable technology is driving interest in flexible hybrid electronics due to its ability to conform to different body parts and enable comfortable wear.
The global flexible hybrid electronics market is estimated to be valued at US$ 139.62 million in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
Advancements in healthcare practices and rising health awareness are increasing adoption of fitness trackers and health monitoring devices. As these devices require flexible form factors for comfortable wear on wrist or other body parts, flexible hybrid electronics prove viable due to capabilities of integrating electronics on thin flexible substrates. This is giving impetus to development of advanced wearable devices which can accurately detect vital health parameters without causing inconvenience to user. Growing demand for healthcare, fitness and wellness wearables is estimated to augment the flexible hybrid electronics market over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as significant capital investments and technological knowledge are required to operate in the flexible hybrid electronics market. However, the high growth prospects attract new players.
Bargaining power of buyers: The bargaining power of buyers is high due to the presence of numerous players providing similar products and solutions. Buyers can negotiate for better prices and demand value-added services.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as key raw materials such as silicon wafer, inks, and polymer substrates are available from several domestic and global suppliers.
Threat of new substitutes: The threat of substitutes is low as flexible hybrid electronics provide unique features that cannot be replicated by alternative technologies.
Competitive rivalry: The competitive rivalry is intense due to the presence of major players operating globally.
SWOT Analysis
Strength: Flexible hybrid electronics provide compact designs, mechanical flexibility, and durability. They enable cost-effective production at scale.
Weakness: High costs associated with manufacturing, design limitations, and lack of reliability standards.
Opportunity: Growing demand for wearable devices, medical sensors, smart labels, and Internet of Things applications. Increasing R&D investments by governments worldwide.
Threats: Continuous technological innovations shortening product life cycles. Trade barriers imposed by governments.
Key Takeaways
The Global Flexible Hybrid Electronics Market Size is expected to witness high growth during the forecast period of 2023 to 2030 on account of various technological and application advancements.
The Asia Pacific region dominates the global market and is expected to grow at the fastest rate due to the presence of major electronic manufacturing countries like China, Taiwan, and South Korea. Japan and South Korea are also investing heavily in R&D activities pertaining to flexible hybrid electronics.
Key players operating in the flexible hybrid electronics market are DuPont Teijin Films, PARC (Xerox Corporation), General Electric Company, Lockheed Martin Corporation, American Semiconductor Inc., Flex Ltd., Brewer Science Inc., Integrity Industrial Inkjet Integration, and SI2 Technologies Inc. Major players are focusing on new product developments and partnerships to gain a competitive advantage in the market.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
