Flexible electronics are often employed as connectors in a variety of applications for space savings, flexibility, or production constraints, boundary the serviceability of hand wiring or firm circuit boards. Compact & lightweight, low heat generation, ultra-thin, and little energy consumption are the compensation of flexible electronics. It is utilized in healthcare & medical, consumer electronics, energy & power generation, and military & defense sectors. In 2015, the global flexible electronics market was esteemed at $5.13 Billion. By the end of 2021, the global flexible electronics market is anticipated to generate revenue of $16.50 Billion, growing at a rate of 21% CAGR from 2016 to 2021.
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Rapid development in technology and far above the ground demand in consumer electronics is anticipated to fuel market growth in the coming time span.
On the basis of components, the global flexible electronics market is bifurcated into battery, displays, memory, and sensors. When speaking of revenue, in 2015, the display segment came out as the top section of the global market and made up for more than 48% share of the total market and is expected to rule in future as well. For instance, Samsung has decided to launch flexible screen smartphone by the end of this year to boost the global market. The battery category is anticipated to observe noteworthy growth rate in the near period.
In 2015, consumer electronics application section ruled the global market that made up for exact 52% share of the complete market. This section is anticipated to carry on its reign in the global market in the future. Healthcare category is projected to view a stable growth in the coming years.
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Area-wise, the global flexible electronics market has been divided into Europe, North America, Middle East & Africa, Asia-Pacific, and Latin America. North America is among the biggest markets for flexible electronic all around the world and is responsible for making more than 28% market share in 2015. Asia Pacific is estimated to display marvelous growth in the coming time span. Some of the important contenders in the flexible electronic market include Pragmatic Printing Ltd., Samsung, Thinfilm Electronics ASA, PARC, LG Corporation, Solar Frontier K.K., Multi-Fineline Electronix, Inc., 3M, and Cymbet Corporation, Inc.