Flexible Electronics & Circuit Market size is projected to reach $48.5 billion by 2026 from an estimated $31.9 billion in 2021, at a CAGR of 8.8% from 2021 to 2026. The rising demand for consumer electronic devices is among the factors driving the growth of the flexible electronics & circuit market.
The OLED lighting segment of the flexible electronics market, based on application, is expected to record the highest CAGR during the forecast period.
Flexible OLED lighting solutions are expected to be increasingly used in the automotive industry by high-end car manufacturers, such as General Motors, Tesla, and Audi.
The presence of prominent lighting solution manufacturers such as Acuity Brands, LG Display, and OSRAM is also expected to boost the flexible electronics market for OLED lighting.
The automotive vertical is expected to record the highest CAGR during the forecast period.
This growth can be attributed to the deployment of flexible displays (LCD and OLED) and OLED lighting panels in vehicles.
Key Players:
– Ford,
– General Motors,
– Nissan,
– Toyota,
– BMW,
– Audi.
The LG and Hyundai collaboration for flexible displays in electric vehicles will also significantly contribute towards market growth.
APAC held the largest share of the overall flexible electronics market, based on region, in 2020.
Key Players:
– Samsung Group,
– LG Corp.,
– Panasonic Corporation,
– Konica Minolta Inc.
These players have captured a major share of the flexible electronics market, thereby contributing significantly to the growth of the market in APAC.
The flexible electronics market in North America is projected to record the highest CAGR from 2021 to 2026, largely due to the increasing establishment of high-technology industries of flexible electronics for military use.
Several US states that are at the forefront of innovation have established research centers for flexible and printed electronics.
The post Flexible Electronics & Circuit Market Expected to Reach $48.5 bn by 2026 appeared first on ELE Times.
No comments:
Post a Comment