Flexible Electronics Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)


Flexible Electronics Market Analysis:

1. During the projected period, the flexible electronics market is anticipated to experience a compound annual growth rate (CAGR) of 18.5%. The increasing adoption of flexible electronics, particularly in the field of wearables, has contributed to its widespread popularity. Additionally, the emergence of flexible batteries and the expanding utilization of flexible sensors in smart packaging and tracking applications are expected to drive the growth of the flexible electronics market throughout the forecast period.

2. In March 2021, Toppan Printing achieved a significant milestone by developing a flexible thin-film transistor (TFT) capable of enduring a million bending cycles to a 1 mm radius of curvature. This breakthrough technology offers various advantages for practical applications, including an on/off current ratio of at least 107 and a carrier mobility of 10cm2/Vs. As a result, there is a growing demand for its integration in foldable smartphones, wearable sensors, smart packaging, medical devices, and more.

3. The market for foldable smartphones is also witnessing a surge in popularity. Samsung Electronics, for example, unveiled its latest series of foldable smartphones, namely the Galaxy Z Flip 4 and the Galaxy Z Fold 4, during the Galaxy Unpacked online event titled “Unfold Your World” in July 2022. This indicates the increasing consumer interest and demand for innovative and versatile mobile devices. Furthermore, according to BNP Media, electronic components are projected to account for 50% of an automobile’s total production cost by 2030, compared to only 30% earlier this decade. The advancements in thin, lightweight, and flexible electronics have paved the way for various groundbreaking technologies, ranging from curved TVs to glucose-monitoring contact lenses. This progress also holds the potential for the development of printable solar cells and flexible screens utilizing organic light-emitting diodes (OLEDs).

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