Flexible electronics: Key market research findings
- APAC to dominate the market geographically
- Flexible displays to account for a majority of the market’s revenue
- Key vendors – AU Optronics, Blue Spark Technologies, Cymbet, E Ink Holdings, Enfucell, LG Display, Samsung Display, Solicore, and Planar Energy Devices
Technavio’s market research analysts predict the global market for flexible electronics to post revenues of around $20 billion by 2020. The high growth rate of the market can be attributed to the increasing application of flexible electronics in wearable technology. With the growth of the wearable technology industry, the use of flexible display is becoming increasingly important and prominent. Though this technology is extensively used in smart devices and media industries, companies like Plastic Logic are prototyping the use of flexible displays for the paper, medical surgery, aeronautical, education, gaming, and manufacturing industries. During 2015, the global flexible electronics market was dominated by the APAC region, which accounted for a market share of more than 64%. The presence of several flat panel TV, smartphone, tablet, and wearable device manufacturers in APAC countries, such as South Korea, Japan, Taiwan, and China, will fuel the demand for flexible electronics in this region during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the flexible electronics segments based on the product.
“The market is currently witnessing the increased availability of flexible devices. Leading vendors in the consumer electronics market are working on innovative technologies to come up with flexible products such as bendable wearable devices and smartphones. Flexibility is a new trend among smart electronics manufacturers of smartwatches and fitness bands. In the coming years, manufacturers are likely to develop printed batteries that are thin and flexible, and can be bent as per the design of the electronic product,” says Sunil Kumar Singh, Lead Analyst, Hardware & Semiconductor, Technavio Research.
The flexible displays segment dominated the global market for flexible electronics in 2015 by accounting for more than 96% of the overall market revenue. The demand for flexible displays from the growing electronics sector is the fundamental driving force behind the growth of this market segment. As displays form an integral part of smartphones, tablets, and wearable devices, there is scope for innovation in these devices. The flexible displays segment will retain its position as the major revenue contributor in the global market over the next four years owing to the increasing need for innovation from the major electronic device manufacturers.
The key vendors in the global flexible devices market include AU Optronics, Blue Spark Technologies, Cymbet, E Ink Holdings, Enfucell, LG Display, Samsung Display, Solicore, and Planar Energy Devices. There are substantial opportunities for growth in the flexible electronics market as their applications in different electronic devices is increasing. Although achieving economies of scale in flexible display production is hampering the vendor’s growth prospects, the cost of manufacturing printed battery is very low. This offers significant growth opportunities for small- as well as large-scale vendors in this market.
A more detailed analysis is available in the Technavio report, Global Flexible Electronics Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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