Flexible electronics market is projected to grow from US$27.34 billion in 2025 to US$42.51 billion in 2030 at a CAGR of 9.23% during this period.
Flexible electronics are increasingly utilized in industries such as consumer electronics, healthcare, and automotive, among others, due to advantages like ruggedness, lightweight design, low cost, and reduced heat dissipation compared to rigid electronics. These benefits are anticipated to propel the growth of the flexible electronics market during the forecast period. Major factors projected to drive demand include the rising adoption of consumer devices, favorable government policies and initiatives, cost-effectiveness, and expanding applications across industry verticals. However, the established market for rigid electronics is expected to hinder the growing demand for these products.
The outbreak of the novel coronavirus disease negatively impacted the flexible electronics market. Lockdowns and strict COVID-19 measures implemented to curb the spread led to the shutdown of manufacturing hubs for flexible electronics and their end-use industries, causing a decline in market growth in 2020. Travel restrictions disrupted the supply chain, further harming the market. Although demand for some consumer devices increased, factory closures and supply chain issues resulted in an overall decline in the flexible electronics market. However, with conditions normalizing in most countries and widespread vaccination efforts completed by 2023, the market has recovered and returned to its normal pace since mid-2021.
Growing Adoption of Consumer Devices
The rising demand for consumer devices such as smartphones, laptops, and tablets is increasing the need for flexible electronics, which are widely used in these products. According to the India Cellular and Electronics Association (ICEA), India’s smartphone market shipped 191 million units in 2023, reflecting significant growth. The report also projected that India would reach 900 million smartphone users by 2025. The National Telecommunications and Information Administration (NTIA) noted that smartphone usage in the U.S. rose from 27% of the population in 2011 to 85% by 2023. Alongside smartphones, other consumer devices are experiencing a surge in demand, with user numbers growing rapidly worldwide. This trend is anticipated to positively impact the flexible electronics market during the forecast period. Moreover, governments in various countries are launching programs and policies to promote digitalization, further boosting consumer device adoption. For instance, India’s Digital India initiative and similar programs aim to empower and support digital development in the country.
Advances in Product Designs
Advancements in technology have led companies to develop innovative products with unique designs, promoting the use of flexible electronics in manufacturing and driving market growth during the forecast period. Wearable devices with flexible screens are also gaining traction. In January 2021, TCL announced plans to launch a foldable or rollable phone, which materialized with the TCL Rollable in 2024. Additionally, companies are introducing lower-priced flexible products to reach broader audiences, elevating demand and propelling market growth. For instance, Samsung launched new foldable phones in 2024 with lower prices compared to earlier models.
North America to Hold a Significant Market Share
Geographically, North America is anticipated to hold a significant market share due to the widespread penetration of consumer electronic devices. The high popularity of premium devices with innovative features further supports the region’s large market size. The Asia Pacific region is expected to grow at a substantial pace, driven by the presence of market leaders like Samsung Electronics and Panasonic Corporation.
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