Flexible Electronics Market Size, Share & Trends Analysis growing at a CAGR of 10.5% from 2023 to 2030
The global flexible electronics market size was estimated at USD 24.94 billion in 2022 and is projected to reach USD 54.07 billion by 2030, growing at a CAGR of 10.5% from 2023 to 2030. A noticeable increase in the adoption of laptops and smartphone products by consumers and the wide applicability of flexible electronics such as flexible batteries and displays in the consumer electronic industry is a major factor expected to drive the global flexible electronic market growth.
Key Market Trends & Insights
- North America dominated the flexible electronics market with a revenue share of nearly 33.0% in 2022.
- Asia Pacific is expected to register the highest CAGR over the forecast period.
- Based on component, the displays segment accounted for the largest revenue share of over 53.0% in 2022.
- Based on application, the consumer electronics segment accounted for the largest market share of over 61.0% in 2022.
Market Size & Forecast
- 2022 Market Size: USD 24.94 Billion
- 2030 Projected Market Size: USD 54.07 Billion
- CAGR (2023-2030): 10.5%
- North America: Largest market in 2022
- Asia Pacific: Fastest growing market
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Consumer electronics manufacturers are focused on developing advanced products that are small and have better functionality. Integrating flexible displays and batteries aids in developing lightweight, rugged, bendable, and durable products. The healthcare sector across the globe is witnessing rapid advancements in medical devices, surgical procedures, and diagnostic tools. Also, consumers’ demand for minimal surgical/diagnostic procedures is gaining traction, which calls for medical devices/equipment with excellent electrical properties, flexibility, and stretchability. This high demand for advanced medical devices/equipment is expected to increase demand for flexible batteries and sensors, which is another factor expected to support the growth of the global flexible electronic market. For instance, in May 2022, Vivalink, a global digital healthcare solution provider, launched the multi-vital blood pressure patch for commercial and R&D purposes. This patch aids in monitoring and capturing ECG traces, heart rates, respiratory rates, and others, through electrical signal-based technology.
The sales of commercial and passenger vehicles in countries such as the U.S., China, and India are witnessing rapid growth due to increasing consumer spending. The vehicle manufacturers are focused on introducing vehicles with advanced features and better interiors, such as thin-film heaters, flexible backlighting, and capacitive touch surfaces, to differentiate between other models and attract more customers. Thus, the wide applicability of printed sensors and batteries in the automotive sector is expected to support the growth of the market.
