Valley Cottage, NY -- (SBWIRE) -- 07/23/2019 -- Flexible electronics, popularly known as flex circuits, have created a vibrant market since the past few years. They find a wide range of applications in healthcare and medical, wearable electronics, automotive, mobile devices, consumer electronics, military and defence, and biometrics, and continue to transform the way the electronics are being used and made conventionally. The global market of flexible electronics, though currently in its developing stage, is predicted to gain momentum in the near future and grow at a double digit CAGR over the forecast period 2014-2020.
In addition to offering transformational advantages in terms of product shape, weight, and durability, flex circuits also provide 3D configurations to product designs. Flex circuits have also held significant impact on allied industries, including wearable electronics, smart medical devices, cell phones, connectors, and IoT.
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Consumers are increasingly using devices such as smartphones, smart glasses, smart watches, and e-book or newspapers, which is propelling the demand for flexible electronics.
However, the complexity of circuit assembly and higher costs are foreseen to be the biggest barriers to the mass adoption of flex circuits.
Global Flexible Electronics Market: Segmentation
FMI's research on the global flexible electronics market provides a six-year forecast, segmenting the market on the basis of component, application, structure of circuit, and geography.
Based on the component used in flexible electronic devices, the market is segmented as flexible displays, flexible batteries, flexible sensors, and flexible memory.
On the basis of application, the market is categorised into consumer electronics, automotive industry, defence and aerospace, sensing, healthcare and medical, and energy and power industry. The consumer electronics segment is expected to be the largest revenue generator for flexible electronics market.
According to the circuit structure used in flexible electronics, the market is segmented into single-sided and double-sided.
The geographical segmentation analyses the flexible electronics market into seven key regions, including North America, Latin America, Japan, Asia Pacific, Western Europe, Eastern Europe, and Middle East and Africa. Currently, North America forms a strong market for flex circuits, led by the U.S., followed by Canada and Mexico. However, Asia Pacific represents a developing market for flexible electronics, with prominent growth in Singapore, Thailand, Malaysia, South Korea, Taiwan, Hong Kong, and Philippines.
Key Players: Flexible Electronics Market
The dominant players in the global flexible electronics market include LG Corporation, Samsung Electronics, PARC, Inc., Cymbet Corporation, and Solar Frontier.
Apple and its iPhone screen supplier LG Electronics might launch the arrival of a new, ultrathin, low-power iPhone with flexible OLED screen, somewhere between 2017 and 2018. However, LG has already launched a smartphone that can be bent to a certain degree – G Flex2, in 2015. Recently in 2016, Samsung has filed two patents with the United States Patent and Trademark Office (USPTO), for an "artificial muscle" system, allowing smartphones to bend in a variety of shapes without getting damaged.
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Companies are increasingly investing in R&D in order to strengthen their market positions, and FMI's market research predicts that the competitive landscape will witness the inflow of profitable revenue generation opportunities, as the technology advances.