Flexible Electronics Market Projected To Reach Approximately $87.21 Billion By 2024: Grand View Research Inc.

Grand View Research, Inc. – Market Research And Consulting.

According to a report,”Flexible Electronics Market By Components (Display, Battery, Sensors, Memory), By Application (Consumer Electronics, Automotive, Healthcare, Industrial) And Segment Forecast To 2024″, published by Grand View Research, Inc., the global flexible electronics market was USD 20,850.0 million in 2015, which is estimated to reach USD 87,210.0 million by 2024. Escalating demand for compact and light-weight electronic devices is anticipated to fuel growth over the forecast period. Flexible batteries, displays, memories are a few products realized with the adoption of this technology. The technology provides ample opportunities in the area of smart textiles, which is the future of wearable’s. Government support in the form of funding that lends a helping hand to several research projects in this field is also anticipated to impact the industry growth positively.

Key Takeaways from the report:

• The consumer electronics segment accounted for over 55% of the overall revenue in 2015. The year 2014 witnessed the onset of new curved televisions, smartphones, and other electronic devices; a trend that gained traction in 2015, and is expected to impact the flexible electronics demand favorably from 2016 to 2024 owing to high penetration in the wearable’s segment

• The display segment is projected to grow at a CAGR exceeding 16% over the forecast period. It is primarily attributed to the ability of these products to curve, roll, flex, conform and fold, enabling a new intuitive user interface. Further, companies are progressing towards the use of plastic displays as an alternative to glass displays, which provides opportunity for future growth

• Wearable devices segment accounted for over 40% of the overall revenue in 2015 and is expected to witness a healthy demand over the forecast period. This increase is primarily ascribed to upsurge in demand for fitness or activity trackers as these products are well-positioned in the market with a promise of tracking productivity, physical activity, heart rate, sleep, etc. that intrigues customers

• Asia Pacific flexible electronics market accounted for over 20% of the overall revenue share in 2015. Research capabilities and aggressive investments by major industry players such as LG and Samsung Electronics in anticipated to drive regional growth over the forecast period

• Prominent industry participants include 3M, E Ink Holdings Inc., GE Measurement & Control Solutions, ITN Energy Systems Inc., LG, PARC, Samsung, and Thinfilm Electronics ASA. Strategic alliances among the major stakeholders such as material manufacturers, academia, and device integrators is anticipated to strengthen the existing technology know-how while driving drive efforts to explore new application areas

Asia Pacific flexible electronics market by application, 2013 – 2024 (USD Million)

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Healthy demand for smart glasses, e-books, smartphones, smart watches, and e-papers is expected to catapult market growth over the next eight years. The technology facilitates electronic systems to be stretched, rolled, and flexed, minimizing design issues associated while developing compact, portable and miniature devices. The style and functionality of wearable devices is anticipated to witness a transition over the next eight years with companies such as Samsung, Apple, Nike and Google investing heavily in this segment, thereby providing avenues for discovering novel applications incorporating this technology.

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

For more information: www.grandviewresearch.com

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