- The reasons for this growth are robustness, portability, lightweight and low manufacturing cost compared to rigid substrate
- The report also added that North America came out as the dominant market due to large contribution from United States
The global flexible electronics market value is predicted to reach around $67.06 billion by 2026 according to a report by Acumen Research and Consulting. The report titled, “Flexible Electronics Market Size, Share, Growth Opportunities and Forecast, 2019 – 2026” also said that the market is projected to grow at a CAGR of around 11 per cent in terms of revenue during the forecast period from 2019 to 2026.
The reasons for this growth are robustness, portability, lightweight and low manufacturing cost compared to rigid substrates said the report. It also said that wearable technology combined with flexible electronics has been a crucial technological advancement in this sector.
Gesture identification, contactless control
It added that organic electronics have also provided sensors with possibilities in a non-display environment. This includes gesture identification, contactless control and biometric sensor arrays. Market development in this space can be hindered by competition from commercialised techniques like LCD, LED.
The report also said, “As consumer devices become more compact, their intelligent and integrated functioning will continue to increase demand for flexibility circuits. Flex circuits are printed on ultra-thin substrates like plastic, which supports folding, rolling and bending features without hampering their function.”
For portability of lightweight appliances, consumers prefer flexible electronics to standard ones.Flexible electronics-based equipment use less energy than standard electronic devices and produce less heat. This has resulted in market popularisation of flexible electronics as per the report.
North America takes lead
The report also added that North America came out as the dominant market due to large contribution from United States. It also said that steady growth in Canada and Mexico will further drive the North America market.