Portland.OR, March 01, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global flexible electronics market garnered $23.64 billion in 2019, and is expected to reach $42.48 billion by 2027, witnessing a CAGR of 7.4% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key investment pockets, top segments, value chain, and competitive scenario.
Increase in implementation of Internet of Things (IoT), surge in concerns of governments, and rise in demand for portable and smart electronic products drive the global flexible electronics market. However, the cost constraint hinders the market growth. On the other hand, emergence of the printed electronics and other technological advancements create new opportunities in the coming years.
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Covid-19 Scenario:
- Manufacturing activities has been stopped due to sudden lockdown imposed by governments to curb the spread of coronavirus. Moreover, the supply chain has been disrupted and the shortage of raw materials has been created.
- The demand for flexible electronics components has been decreased significantly from sectors such automotive and aerospace & defense sector as manufacturing and R&D activities came to sudden halt.
- The demand would grow steadily as manufacturing activities in application industries begin with optimum workforce during the post-lockdown period.
The report offers detailed segmentation of the global flexible electronics market based on component, application, and region.
Based on component, the flexible display segment contributed to the highest market share in 2019, holding more than half of the total market share, and is projected to maintain its leadership status during the forecast period. Moreover, this segment is expected to witness the highest CAGR of 9.1% from 2020 to 2027. The report also provides detailed analysis of segments including flexible battery, flexible sensor, flexible memory, and flexible photovoltaic.
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Based on application, the consumer electronics segment held the highest share, contributing to nearly three-fifths of the total share of the global flexible electronics market in 2019, and is expected to maintain its dominant share by 2027. Moreover, this segment is projected to portray the highest CAGR of 9.1% during the forecast period. The research also analyzes segments such as automotive, medical & healthcare, energy & power, aerospace & defense, and others.
Based on region, Asia-Pacific accounted for the highest share of the market in terms of revenue, holding nearly two-fifths of the total share in 2019, and will continue its lead position during the forecast period. Moreover, this region is expected to manifest the highest CAGR of 9.2% from 2020 to 2027. The report also discusses regions including Europe, North America, and LAMEA.
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Key players of the global flexible electronics market analyzed in the report include Samsung Electronics Co. Ltd., Palo Alto Research Center Incorporated, Solar Frontier, Cymbet Corporation, LG Corporation, Enfucell Flexible Electronics Co. Ltd., Blue Spark Technologies, E Ink Holdings, Imprint Energy, and AU Optronics.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.