Market Challenges And Opportunities

Global Flexible Electronics Market Restraints:

High cost of investment in flexible electronics to hinder the market pace

The cost of devices equipped with flexible electronics can be higher compared to devices that use conventional electronic components. For instance, the cost of active RFID tags using internal powering is higher than the ones that do not need power. Thus, the cost of flexible batteries is expensive. Similarly, several other flexible electronics are of high cost, and this factor in turn is expected to impede adoption of these electronics. As a result, the growth of global flexible electronics market is likely to be hindered by high cost in the coming future.

Complexity of flexible electronics to limit the market growth

Flexible electronics are difficult to repair and rework. Factors such as cut flex material, damaged conductors, and heat damaged/lifted pads can cause damage to flexible electronics. In order to repair such damages, it requires highly skilled professionals. In some cases, the entire circuit can be damaged in the process of repairing. Reworking the same flex circuit is also a difficult job as they are complex and thing requiring high precision machines. Thus, this factor is expected to obstruct growth of the global flexible electronics market over the forecast period.

Global Flexible Electronics Market Drivers:

Increasing use of Internet of Things (IoT) to boost the market growth

Due to the increase in adoption of IoT, factors such as technical, economic, and social stature of all the things as well as application dynamics are majorly being influenced in current times. There are various components of IoT, including implementation of technologies, use of sensors, and compatible power sources to run the new applications. With the rise in need for sensors for operating IoT-connected devices and the source to provide power supply, the demand for flexible electronics is increasing. Thus, this factor is expected to aid in growth of the global flexible electronics market over the forecast period.

Government initiatives toward flexible electronics to support the market growth

Several governments around the world are focused on investments and initiatives in flexible electronics for establishing a connected world for harnessing the complete potential of applications such as safety & security, mobile health, wearable technology, and transportation among others. For instance, the U.S. Department of Defense (DoD) in 2017 made an investment of US$75 million in a public-private partnership for development of flexible electronics. Such initiatives from governments around the world are anticipated to boost growth of the global flexible electronics market over the forecast period.

Global Flexible Electronics Market Opportunities:

Increasing growth of printed electronics to generate lucrative opportunities in the global flexible electronics market over the forecast period. The printing technology can be utilized for separately producing components of printed electronics; however, to harness the full potential of these printed electronic components they have to be integrated with other printed devices. For instance the production of printed flexible batteries in different applications including RFID. The applications associated with flexible electronics are significantly increasing, and this in turn is expected to create growth opportunities in the market.

Constant technological advancements to bring growth opportunities to the global flexible electronics market over the forecast period. Several companies are making heavy investments in research and development activities for the development of their products. For instance, in 2020, Apple Inc. received a patent for a foldable device with a hinge mechanism, which uses movable flaps that can help in preventing the display from being damaged or creased when folded. Moreover, Samsung and Intel in collaboration, recently achieved 305Gbps on its 5G SA core. Such technological developments is leading to rise in demand for flexible electronics, which will bring multiple opportunities in the market.