MarketsandMarkets’ research report, "Flexible Electronics & Circuit Market by Application, Circuit Structure, Vertical, and Geography - Global Forecast to 2023", says the market for flexible electronics and circuits is expected to grow from $23.92 Billion in 2018 to $40.37 Billion by 2023, at a CAGR of 11% between 2018 and 2023. The development of flexible electronics has spanned the past 40 years, ranging from the development of flexible solar cell arrays to flexible OLED electronics on plastic substrates. Flexible electronic devices are easier to integrate into products and tend to be lighter.
Escalating adoption of flexible displays in smartphones and wearables is driving market growth. The emergence of flexible batteries suitable for IoT and wearable applications is another opportunity for market growth. Samsung Group (South Korea), LG Group (South Korea), and Solar Frontier (Japan) are some of the prominent players in the flexible electronics market.
- The Flexible displays held the largest market share in 2017
- The automotive vertical is expected to demonstrate the fastest growth in the flexible electronics market during the forecast period
- APAC region held the largest share of the flexible electronics market in 2017
- Companies operating in the flexible electronics market are 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); Cymbet (US); Palo Alto Research Center (US); Thin Film Electronics (Norway); Royole Corporation (US); FlexEnable (UK); and Enfucell (Finland).
Need more market meat on this matter? Browse the "Flexible Electronics & Circuit Market - Global Forecast to 2023" report.