Northbrook, IL -- (SBWIRE) -- 03/19/2018 -- The increasing adoption of displays, thin-film photovoltaics, and printed sensors have driven the market growth. Applications in IoT are also being targeted by flexible electronic devices, which would further push the market growth.

According to the research experts, the flexible electronics market is expected to grow from USD 23.92 Billion in 2018 to USD 40.37 Billion by 2023, at a CAGR of 11.0% between 2018 and 2023. For complete case study, download this free sample PDF: https://tinyurl.com/yd7bofzf

The flexible electronics market in terms of applications is segmented into display, thin-film photovoltaics (PVs), battery, printed sensor, and OLED lighting.

Flexible electronics market in terms of applications is segmented into display, thin-film photovoltaics (PVs), battery, printed sensor, and OLED lighting. The market based on verticals has been segmented into consumer electronics; healthcare; energy & power; automotive; military, defense, and aerospace; industrial; and others that include building automation, smart packaging, environment monitoring, communication hospitality, sports, and research.

The geographical distribution of the flexible electronics market is categorized into North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).

Displays LCD and OLED are expected to hold the largest share of the flexible electronics market during 2018–203. The market for displays is led by industry leaders such as Samsung and LG who produce flexible OLED display panels that are largely being deployed in smartphones, smart wearables, and televisions.

The consumer electronics vertical is expected to hold the largest share of the market owing to the adoption of flexible displays in smartphones, wearables, and other devices. The automotive vertical is expected to demonstrate the highest growth during the forecast period due to the increased adoption of flexible displays, sensors, and OLED lighting panels.

APAC dominated the flexible electronics market accounting for the largest share of the market in 2017. In addition, the region is likely to be the fastest-growing market for flexible electronics during the forecast period.

APAC is the hub for manufacturers and customers of flexible OLED panels. In the market, Samsung and LG have been the leading companies that deploy flexible displays in smartphones and televisions. In APAC, flexible sensors are also increasingly being used for healthcare applications.

Major players in the market include Samsung Group (Samsung Electronics and Samsung SDI) (South Korea); LG Group (LG Display and LG Chem) (South Korea); Solar Frontier (Japan); First Solar (US); Panasonic (Japan); Konica Minolta (Japan); OLEDWorks (US); Blue Spark Technologies (US); BrightVolt (US); Heliatek (Germany); etc.

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