A flexible electronic device can be easily folded or twisted without getting damaged. Flexible electronics market deals with the advanced form of electronic devices. These devices have a broad application in various sectors, such as the military & defence, consumer electronics, healthcare & medical and energy & power generation. The flexible electronics market is currently in the initial stages of development. It has a bright opportunity in the coming years due to an expected double-digit growth rate. Consumer electronic devices like smart glasses, smart watches, smartphones, e-books and e-papers are generating demand for flexible electronics devices. The technology is also suitable for signage boards and batteries. In the medical sector, flexible electronics play an important role as with the help of these devices artificial organs can be implanted in the body of a human being. Flexible electronic devices have various advantages as they are ultra-thin, lightweight and compact, consume little energy and generate low heat. Material used for flexible electronic display is mainly plastic. These devices have a few disadvantages too as they are expensive and less popular as compared to traditional electronic devices.
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The global flexible electronics market is expected to reflect a double-digit growth rate in the coming six years due to continuous technological development and high demand in consumer electronics market. Factors responsible for the growth of this market are flexible electronics devices’ small size and low weight. Thus it’s been observed that consumer electronics segment is the largest revenue generator for flexible electronics market. To compete with the latest technologies like LED and LCD is a big challenge for upcoming technologies of this market.
The flexible electronics display market can be segmented on the basis of components, application, structure of circuit and geography. Major components used in flexible electronic devices are flexible displays, flexible batteries, flexible sensors and flexible memory. On the basis of application, the market can be categorised into consumer electronics, automotive industry, defence & aerospace, sensing, healthcare & medical, and energy & power industry. The circuit structure used in flexible electronics are both single-sided and double-sided. Geographical segmentation of Flexible electronics includes regions such as North America, Latin America, Japan, Asia Pacific, Western Europe, Eastern Europe, and Middle East & Africa. Present market scenario represents a strong presence of flexible electronics market presence in the US, Canada and Mexico in North America. South Korea, Taiwan, Thailand, Malaysia, Hong Kong, Philippines and Singapore are major countries in Asia Pacific.
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Financial investment by flexible electronics device manufacturers is increasing in the market due to its expected high growth rate and continuously increasing demands of improved consumer electronic goods. The major dominating players of this market are LG Corporation, Cymbet Corporation, Samsung Electronics, Solar Frontier and PARC, Inc. Most players are investing a large amount of money on their research & development activities. Flexible electronics are changing the traditional electronic device market; continuous improvement in this area is encouraged by a stable technological development.
Flexible and stretchable electronics is the future of electronics! In the future, flexible electronics will transform the IT industry. Consumer electronic goods will continue to dominate this industry as demand of these products is increasing by the day. If new entrants can cope with fast technological developments and compete with existing players, they have a great opportunity in flexible electronics market.