FLEXIBLE HYBRID ELECTRONICS MARKET ANALYSIS

The global flexible hybrid electronics (FHE) market size was valued at US$ 125.9 million in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 10.9% from 2023 to 2030. The global flexible hybrid electronics market is growing at a fast rate due to the technological advancements in this field. Increasing demand for easy and compact products that can detect vital signs such as heart rate, blood pressure, and temperature is driving the demand for flexible hybrid electronics in healthcare.

Global Flexible Hybrid Electronics (FHE) Market: Regional Insights

North America is anticipated to dominate growth of the global flexible hybrid electronics (FEH) market over the forecast period. This can be attributed to rapidly growing research and development activities and growing investment in development of flexible hybrid electronics in the region. For instance, NextFlex, a FHE manufacturing institute in the U.S. invested US$ 12 million for seven projects as part of the Project Call 4.0 for promoting flexible hybrid electronics development and adoption in the U.S. advanced manufacturing industry. Thus, with increasing R&D activities, the region is likely to show significant growth in the global flexible hybrid electronics (FHE) market during the forecast period.

Europe is also anticipated to show robust growth in the global flexible hybrid electronics (FHE) market over the forecast period. Increasing scientific publications to develop FHE for leading countries in the region is a major driver for the market growth in this region. Moreover, research laboratories and universities in the region are forming partnerships with industry and innovation centers. Thus, these factors are further expected to support growth of the global flexible hybrid electronics (FHE) market over the forecast period.

Figure 1: Global Flexible Hybrid Electronics (FHE) Market Share (%), By Region, 2022

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Global Flexible Hybrid Electronics (FHE) Market Drivers:

Growing need for mechanically flexible, lightweight and cost-friendly products to propel the market growth

The need for products that are lightweight, cost-effective, and mechanically flexible is growing in applications such as automotive, medical, consumer electronics, and others. Flexible hybrid electronics are gaining significant momentum in order to cater the growing demand of the industry. These devices can transform computing as they enable bendable systems with arbitrary shapes. Moreover, several other advantages of FHEs, their demand is increasing all over the world, which is expected to aid in growth of the global flexible hybrid electronics (FHE) market during the forecast period.

Rapidly advancing data analytics and AI technologies to boost the market growth

With increasing advancements and innovations in data analytics and AI, businesses and economies are witnessing growth in performance and productivity. The use of data and analytics is helping companies gain a competitive edge, as it enables faster and large-scale evidence-based decision making, process optimization, and insight generation. Electronic capabilities are now being incorporated into emerging and new consumer as well as industrial products due to their ability of conforming organics shapes. This factor is further projected to support growth of the global flexible hybrid electronics (FHE) market during the forecast period.

Global Flexible Hybrid Electronics (FHE) Market Opportunities

Research focus on use of polymeric foams to produce low-pressure capacitive sensors is expected to create growth opportunities in the global flexible hybrid electronics (FHE) market during the forecast period. These low-pressure capacitive sensors could offer high sensitivity with high flexibility. With increase in development of an inorganic layered hybrid film to create transparent electrodes, contact pattering by using laser printing for creating flex transparent electrodes among other technological developments, the focus of researchers is increasing on development of new FHE solutions.

Emerging applications of flexible electronics are expected to create growth opportunities in the global flexible hybrid electronics (FHE) market over the forecast period. Sensors are one of the most popular examples of hybrid technologies that are now utilized in growing number of commercial and industrial domains including cosmetics, aerospace, automotive, medical, and packaging among others. Thus, the market is likely to see multiple business opportunities in the near future.

Global Flexible Hybrid Electronics (FHE) Market Trends:

Growing shift from hard rigid electronic boxes to softer electronics is a major trend

There is a growing shift from hard rigid electronics to softer flexible electronics that can be stretched and curved in antennas, displays, and sensors. As a result, the demand for printed electronics is likely to play an important role. Several universities are conducting research activities for the development of flexible hybrid electronics. The growing shift to flexible softer electronics is likely to be driven by R&D activities in the coming years. Thus, this trend is anticipated to support the market growth over the forecast future.

Increasing miniaturization of electronic gadgets is another trend in the market

Technology vendors are focusing on designing and manufacturing miniaturized gadgets for different applications such as strip thermometers and wearable devices. However, circuits used inside these products can be broken when they get bent in different directions. The R&D activities across universities are increasing to address this problem. Moreover, technology vendors are increasingly finding ways to miniaturize gadgets. Thus, this trend is likely to continue in the global flexible hybrid electronics (FHE) market during the forecast period.

Global Flexible Hybrid Electronics (FHE) Market Restraints:

Need for high capital investment in infrastructure and R&D to hinder the market pace

Flexible hybrid electronics technology is a niche, due to which many firms face challenges for capital investment for development of infrastructure and expertise to develop this technology. At this stage, the technology doesn’t seem to have long range of applications. Thus, market players across various industries are hesitating for investing in the technology. This factor is expected to act as a major challenge in the global flexible hybrid electronics (FHE) market in the coming future.

Complexity of repairing flexible electronic devices to hamper growth of the market

Flexible hybrid electronic devices are hard to repair owing to their increased sensitivity which comes from tiny and thin components used in the systems. These components can cause easy damage to the devices. Moreover, repairing such electronic devices need skilled professionals. Thus, these factors impact adoption of FHEs. As a result, this factor is expected to hamper growth of the global flexible hybrid electronics (FHE) market during the forecast period.

Figure 2. Global Flexible Hybrid Electronics (FHE) Market, By Application, 2022

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Global Flexible Hybrid Electronics (FHE) Market Segmentation:

The global flexible hybrid electronics (FHE) market report is segmented into Application and End User Industry

Based on Application, the market is segmented into Display, Health Performance Tool, Security Tag, and Applications in Cars and Airplanes. Out of which, Display is expected to dominate the global market over the forecast period and this is attributed to the increasing research and development in flexible displays. Displays are rapidly changing from being on glass substrates to rigid plastics and are becoming foldable. The growing R&D is driving growth of this segment. For instance, in February 2020, researchers at RMIT University, Australia announced development of an ultra-flexible and ultra-thin electronic material that can be rolled and printed out for touchscreens in the future.

Health Performance Tool segment is also expected to witness significant growth in the near future and this is owing to the rise in demand for electronic systems with flexibility and ability of sensing, processing, and communicating with other devices and networks. The demand for such devices is significantly high in healthcare sector, as performance is significantly important factor in the industry.

Based on End User Industry, the market is segmented into Automotive, Consumer Electronics, Healthcare, Industrial Sector, and Military and Defense. Out of which, Automotive is expected to dominate the global market over the forecast period and this is attributed to the changing consumer preferences, rising safety needs, and demand for better interior design. Early flexible hybrid electronics applications can tackle from advanced driver assistance systems (ADAS), body comfort, basic safety components using FHE, and vehicle powertrain and lighting systems.

Consumer Electronics segment is also expected to witness significant growth in the near future and this is owing to the development of consumer electronics with advanced efficiency. The industry is focusing development of electronics that are unique and can be used in everyday life. Flexible hybrid electronics offer various benefits and capabilities that can cater such demands in consumer electronics segment.

Global Flexible Hybrid Electronics (FHE) Market: Key Developments

In January 2021, Samsung announced the launch of Samsung Bespoke 4-door flex refrigeration in the U.S. market. With the expansion in the U.S. market, the company is offering wide range of house hold things in refrigeration.

In February 2022, NextFlex, announced Project Call 7.0, a call for proposals seeking funding for projects that will further develop and adopt flexible hybrid electronics and address major challenges in advanced manufacturing.

In August 2020, SEMI announced to have formed a new standards committee to aim development of global standards for FHE spanning materials, design, manufacturing, systems, and packaging.

Global Flexible Hybrid Electronics (FHE) Market: Key Companies Insights

The global flexible hybrid electronics (FHE) market is highly competitive. This is attributed to continuous launch of new technologies due to ongoing R &D and efforts by value chain participants. Moreover, key players are adopting various business growth strategies in order to expand their presence on regional as well as global basis. Some of the key players in the global flexible hybrid electronics (FHE) market are DuPont Teijin Films, PARC (Xerox Corporation), General Electric Company, Lockheed Martin Corporation, American Semiconductor Inc., Flex Ltd., Brewer Science Inc., Integrity Industrial Inkjet Integration, and SI2 Technologies Inc.

*Definition: Flexible hybrid electronics integrate thin silicon electronic devices, sensing elements, communications capabilities, and power on non-traditional, flexible substrates. It offers a number of unique advantages over conventional wafer-based devices, such as lightweight construction, curved mechanics, functional reconfigurability, and self-healing constitution.