According to the new research report on "Flexible Electronics Market Size and Forecast (2020-2030), Global and Regional Share, Trends, and Growth Opportunity Analysis," published by The Insight Partners, the market is expected to reach US$ US$ 57.69 billion by 2030 and register a CAGR of 10.6% from 2022 to 2030.

The report includes growth prospects owing to the current Flexible Electronics Market trends and their foreseeable impact during the forecast period. As consumer electronics continue to shrink in size, traditional technologies struggle to keep up with the demand for compact and long-lasting power sources. Flexible electronic devices such as flexible displays, flexible batteries, and flexible memories have emerged as a solution to this problem. This is particularly because, these flexible electronics can stretch and bend, which makes them appropriate for uses than conventional rigid boards. Also, they are perfect for applications where weight is an important factor because they are usually lighter than their rigid counterparts. In several circumstances, flexible devices are more durable than rigid ones, as many flexible materials are strong and resistant to mechanical stress. In addition, flex circuits enable more product design customization because they can be made to fit particular form factors.

The rising demand for miniaturization has encouraged researchers to explore new materials and designs to enhance energy storage capacity while reducing the size of these batteries. This has apparently surged the demand for flexible thin film and printed batteries with higher energy densities and improved life cycle. The applications of these flexible batteries extend beyond just smartphones and wearable devices. They are also utilized in various medical devices for health monitoring, such as heart rate monitors, sleep trackers, and glucose sensors, which are discreet and comfortable for prolonged wear. These energy storage solutions are revolutionizing industries and enabling the development of innovative products that were once unimaginable. Thus, the growing miniaturization of electronic devices is expected to positively influence the flexible electronics market growth during the forecast period.

France hold the significant Flexible Electronics Market share in Europe. The healthcare industry in France is witnessing tremendous growth. According to the International Trade Administration, the country is one of the world's top five markets for medical devices. In addition, medical supplies and equipment account for 3% of France's overall health expenditures, whereas 0.3% of its GDP is spent on them. In addition, for the further growth of the healthcare industry, the French government is taking various initiatives. In June 2021, the Government of France launched the Health Innovation 2030 plan with a budget of US$ 8.93 billion (EUR 7.5 billion) to boost research and innovation in the industry. Furthermore, in March 2022, the French government unveiled a future investment plan, an Innovative Medical Devices plan under its France 2030 initiative, to support the medical devices industry. Under this, the government is providing US$ 450 million to revitalize the med-tech sector. Thus, the growing healthcare industry in the country is expected to fuel the flexible electronics market growth.

Moreover, in Europe, Germany held the largest flexible electronics market share in 2022. The rising demand for electric vehicles in Germany is boosting the need for flexible electronic devices such as flexible sensors and flexible memories. The leading German players in the automotive industry are making strategic decisions to boost their EV sales in the coming years. In 2021, Volkswagen, Mercedes, and BMW set various goals for their electric car initiatives. According to Volkswagen, more than 70% of the brand's European sales will be EVs by 2030. Similarly, Mercedes is also planning to go all-electric by 2030. Also, in March 2022, Tesla Inc. announced that the company secured approvals to commence electric vehicle production in Germany. Thus, an increase in the production capabilities of EVs in Germany is anticipated to hold potential demand for flexible electronics, fueling the growth of the flexible electronics market in the country.

Furthermore, with the growing technological advancement in the UK, the adoption of industrial robots is also increasing in the country. According to the International Federation of Robotics (IFR), the country has a robot density of 101 units per 10,000 workers. In addition, in 2021, the country had ~23,000 industrial robots operating in the factories, which increased by 6% compared to 2020. Such a rise in the adoption of industrial robots is projected to raise the demand for flexible electronics in the country. Furthermore, the growing automobile production in the country is expected to fuel the market growth. In December 2022, Ford announced that the UK Export Finance (UKEF) would be providing ~US$ 719.59 million (GBP 600 million) to expand its electric vehicle production line in the country. Further, in May 2022, the UK Government announced funding worth US$ 50 million to encourage the development of autonomous commercial vehicles such as delivery vehicles and passenger shuttles. Thus, the rise in investments in the production of electric vehicles and autonomous commercial vehicles in the UK drives the growth of the flexible electronics market.

Flexible Electronics Market Report: Key Findings

The flexible electronics market analysis is based on segmental assessment. Based on components, the flexible electronics market is segmented into display, memory, sensors, battery, and others. The display segment held the largest flexible electronics market share in 2022, whereas battery segment is expected to grow with the highest CAGR in 2022-2030. Flexible batteries are manufactured from lightweight and bendable materials. Flexible batteries are in high demand due to their increased use in wearable medical devices, smartwatches, textile-based electronics, and other applications. These batteries are rechargeable and use lithium-ion or zinc-carbon systems that can be bent, twisted, and stretched. Furthermore, because of its advantages in terms of safety, working temperature, high energy density, and compactness, it has the potential to produce an ideal energy storage system for future devices, which is further increasing its demand in the market.

In addition, flexible memory devices are mostly made up of two-dimensional (2D) materials, as they are easy to build because of their flexible nature. This memory device is made up of a flexible polyethylene terephthalate (PET) substrate with a bilayer structure of tin-oxide/tungsten-ditelluride (SnO2/WTe2) sandwiched between Ag and Au metal electrodes. The two-dimensional WTe2's flexibility offers a better, crack-proof base for the SnO2 to create a flexible memory device atop the PET substrate. Hence, because of the above features, the demand for flexible memory devices is increasing in the consumer electronics industry, particularly for smart wearables. In addition, the rising miniaturization of electronic devices and increasing demand for foldable devices is further fueling the market growth for the flexible memory segment.


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