The growth of flexible electronics is anticipated to experience considerable growth owing to rising demand for compact and lightweight electronic devices over the forecast period. Flexible batteries, memories, and displays are some of the products that are introduced in the market with the adoption of this technology. This technology provides abundant opportunities in the area of smart textiles. Moreover, funding provided by the government also supports and helps various research projects in this field is also expected to impact the global flexible electronics market growth positively.
Increasing demand for smart glasses, smartphones, e-books, e-papers, and smart watches is anticipated to boost the growth of the market in the coming years. The technology makes it easier for the electronic systems to be rolled, stretched, and flexed, which minimizes design concerns associated with the development of compact, miniature, and portable devices. With the companies, such as Samsung, Apple, Nike, and Google, investing heavily in this segment, the style and functionality of these devices are expected to witness significant development in the near future. Hence, this, in turn, provides new approaches to discover novel applications incorporating this technology.
On the basis of components, the flexible electronics market is segmented as a display, battery, sensors, and memory. Based on the application, the global market is segmented as consumer electronics, automotive, and healthcare and industrial. The consumer electronics segment accounted for the largest share the overall revenue in 2015. In 2014, numerous novel products such as new curved televisions, smartphones, and other electronic devices were launched. This trend gained more attraction of consumers in 2015 and is anticipated to impact the flexible electronics demand over the forecast period owing to high perception in the wearables segment. The display segment is expected to experience high grow rate in future owing to the characteristics of these products to curve, roll, flex, conform, and fold, which enables a new user-friendly interface. Moreover, companies opting for plastic displays as an alternative to glass displays provide ample opportunities for future growth.
Wearable devices segment accounted for the highest revenue in 2015 and is expected to witness a significant growth demand in future. This increase is majorly attributed to increasing demand for fitness trackers and activity trackers. Since these products are well-known in the market providing the feature of tracking productivity, heart rate, physical activity, sleep, etc., these products gain the major attention of customers.
Research strategies and competitive investments by major industry players such as LG and Samsung Electronics are the key growth factors to drive the market growth in the coming years. The latest product in the area of flexible electronics is single-walled carbon nanotubes.
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Key players of the flexible electronics market include E Ink Holdings Inc., 3M, GE Measurement & Control Solutions, LG, ITN Energy Systems Inc., Samsung, PARC, and Thinfilm Electronics ASA.