Flexible Electronics Market is estimated to be worth USD 27.2 billion

Flexible Electronics Market

Flexible electronics are being implemented into a wide range of retail and industrial items now on the market. Components in today’s cell phones and displays, human and health performance tools, security tags, sensor componentry in cars and aeroplanes, agricultural and environmental sensors, and strain gauges in bridges and equipment, to name a few, are all examples of these items. In SEMI’s member-only information section, you’ll find more information on the technology and the vast range of application segments and markets, as well as presentations from the industry’s leading integrators of flexible electronics technology.

A substrate, backplane, front plane, and encapsulation are the main components of flexible electronic components. The conformability given by the components allows the flexible electrical capacity to be incorporated into a variety of consumer and industrial goods. Furthermore, the rapid advancement of digital intelligence is aided by the integration of data analytics and artificial intelligence with flexible electronics.

The global flexible electronics market was valued at USD 27.2 billion in 2020, according to Precedence analysis. The growing demand for tiny electronic devices across several industry verticals such as automotive, healthcare, military, and consumer electronics is driving the global flexible electronic market. Flexible electronics, which are known for their elastic and flexible qualities that enhance their acceptance in many devices, are in high demand because to the rising desire for compact and creative electronic products. The growth of the flexible electronics market is being fueled by the spread of various technological advances such as AI and IoT.

The major outbreak of the COVID-19 disease has had a negative effect on the market due to worldwide lockdown prohibitions. Manufacturing plants were either entirely or partially shut down, causing delays in the manufacture of electronic goods on global markets.

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North America dominated the global flexible electronics market in 2020, accounting for more than 30% of the market. This is due to the increasing use of digital and electronic components in the production of a variety of electronic gadgets in the healthcare and automotive industries. In North America, the automotive sector is vast, and the latest vehicles are progressively using small electronic components, which is fueling the expansion of flexible electronics in the region. Consumer demand for technologically advanced and designer items has contributed greatly to the market’s growth.

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