Flexible hybrid electronics are electronic and photonic devices that utilize a mix of inorganic and organic materials layered together on mechanically flexible substrates. Flexible hybrid electronics combine the manufacturing scale and yield of printed plastic electronics with the performance and functionality of traditional semiconductor electronics. The increasing demand for flexible, wearable, and soft electronic devices across industries such as consumer electronics, automotive, and healthcare is driving the growth of the flexible hybrid electronics market.
The global Flexible Hybrid Electronics Market is estimated to be valued at US$ 139.62 Mn in 2023 and is expected to exhibit a CAGR of 23% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Wearable devices such as smartwatches, fitness trackers, virtual/augmented reality headsets require electronics to be flexible, lightweight and comfortable for the user. Moreover, flexible hybrid electronics allow the integration of functional electronic and photonic components into fabrics, enabling the development of advanced wearable technology. The growing demand for wearable medical devices and smart clothing is expected to further drive the adoption of flexible hybrid electronics. Flexible hybrid electronics provide opportunities to develop innovative wearable technology products with enhanced features focused on comfort, form factor and user experience. The ability of flexible hybrid electronics to conform to complex and curvy surfaces makes them highly suitable for use in advanced wearable applications.
Threat of new entrants: The growing market demand and potential for high profits attracts new companies to enter this market. However, high investment and technological requirements pose a barrier.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes. However, customized products increase switching costs.
Bargaining power of suppliers: A few major players control the supply of raw materials globally, giving them strong bargaining power over price and availability.
Threat of new substitutes: OLED, display technologies pose a threat, but FHE offers advantages like flexibility, disposability increasing its demand.
Competitive rivalry: Intense as major players compete on innovation, costs and partnerships.
Strength: Growing demand for wearables and IoT devices. Ability to integrate electronics onto irregular surfaces.
Weakness: High costs of manufacturing. Require specialized fabrication techniques inhibiting mass production.
Opportunity: Integration into healthcare devices, smart packaging and logistics. Usage in AR/VR platforms.
Threats: Stiff competition from conventional electronics. Issues regarding disposing flexible circuits.
The Global Flexible Hybrid Electronics Market Demand is estimated to be valued at US$ 139.62 Mn in 2023 and is expected to exhibit a CAGR of 23% over the forecast period 2023 to 2030.
The global Flexible Hybrid Electronics market is expected to witness high growth over the forecast period driven by the increasing adoption of wearable devices and demand for innovative form factors. The Asia Pacific region currently dominates the market attributed to presence of major manufacturers and availability of raw materials in countries like Japan, South Korea and Taiwan. North America is anticipated to be the fastest growing market due to surging demand for advanced wearables from healthcare and consumer electronics industries in the US and Canada.
Key players operating in the Flexible Hybrid Electronics market are Atlas Copco AB, Caterpillar, Inc., Hitachi Construction Machinery, Komatsu Limited, Sandvik AB, Columbia Steel Casting Co., Inc., Doosan Corporation, USCO S.p.A, Volvo AB, and MB America, Inc.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it