Flexible Hybrid Electronics Market Size, Share, Opportunities, And Trends By Application (Security Tags, Sensors, Displays), By End-Users (Consumer Electronics, Healthcare, Industrial, Automotive, Others), And By Geography - Forecasts From 2023 To 2028

Flexible hybrid electronics are electronic gadgets that integrate printing technology and flexibility to enhance the functioning of semiconductor devices to generate a different genre of electronics. The automotive, healthcare, and consumer electronics sectors are contributing vastly to the flexible hybrid electronics market. In the healthcare and military sector, wearable sensors adopt flexible hybrid electronic technology to monitor the health vitals of patients and assist in carrying out military operations. The flexible hybrid electronics market is gaining momentum due to the increasing investments by leading electronic companies. As the market has just started to expand across different sectors, it can be expected that the flexible hybrid electronics market will significantly grow over the forecast period.

Market Drivers

• Increase in demand for flexible displays by consumer electronics companies

The need for convenient sizing of portable electronic products is encouraging leading companies in the consumer electronics sector to research and develop innovative display panels to accommodate the compact sizing demands of customers which is promoting the rise of the flexible hybrid electronics market. For instance, Samsung electronics revealed its recent technological innovation of the Flex Hybrid OLED display panel which can be employed on smartphones and other portable electronic screens. In addition, the consumption of foldable phones developed by Samsung electronics indicates the proportional growth of the flexible hybrid display generated by the company. For instance, during the first week of its launch, the pre-orders for the foldable phone series Samsung increased from 920,000 units for its first product line of Galaxy Z Fold3 and Flip3 smartphones launched in 2021 to 970,000 units for their second product line of Galaxy Z Fold4 and Flip4 mobile phones launched in 2022. Therefore, the recent increase in the consumption of flexible and hybrid display panels among consumer electronic manufacturing companies is expected to stimulate the expansion of the flexible hybrid electronics market.

• Favorable government and organizational initiatives

The possible applications of flexible hybrid electronics in the military and defence sectors are stimulating the development of the flexible hybrid electronics market. In addition, the collective effects of companies and organizations instigate further advancement in the flexible electronics market. For instance, a group of companies collaborated to form a consortium named NextFlex in the US with the primary goal to increase the production of flexible hybrid electronics. In June 2020, the Air Force Research Laboratory entered into an agreement with NextFlex according to which the US Department of Defense will be issuing US$154 million in funds to enable NextFlex to innovate 3D printing tech-based flexible hybrid electronics to be employed in military operations. In addition, the collaboration between the US Air Force, Aptima-Sentinel, NextFlex, and Lockheed Martin resulted in the launch of SafeGuard, a flexible hybrid electronic wearable sensor integrated with AI-based data analytics in October 2020. Apart from the military sector, several other government departments are formulating initiatives that are leading to technological advancements in flexible hybrid electronics. For instance, LG Display Company is leading a large-scale consortium national project created by South Korea’s Ministry of Trade, Industry, and Energy to research and develop stretchable display products by collaborating with 20 research institutes in South Korea since 2020. Therefore, certain beneficial measures taken by governmental departments across major economies of the world are driving the demand for the flexible hybrid electronics market.

The lack of proper raw materials could limit the growth of the flexible electronics market.

The components used to manufacture flexible hybrid electronics such as the substrates, chips, films, and printing inks are currently in the initial phase of development. The process of scientific evolution of rigid electronic components is a time-consuming process that needs to undergo several phases to be effectively generated. The unavailability of compatible materials and scientific expertise could result in the stunted growth of flexible hybrid electronics over the forecast period.

Key Developments

• In December 2022, NextFlex, an organization promoting the flexible hybrid electronics market announced that it will be investing US$4.25 million for the purposes of further research and development in the flexible hybrid electronics field.
• In October 2021, the Electronics Materials Division of the North American Panasonic Corporation announced the launch of Beyolex, a stretchable substrate film made using thermoset polymer material and technology to be used in soft printed and flexible hybrid electronics.
• In August 2020, SEMI, an organizational body consisting of companies involved in the electronics sector declared that it will be forming a standards committee with the primary objective of creating policies and standards for the development of the flexible hybrid electronics industry.

Asia Pacific holds a noteworthy portion of the flexible hybrid electronics market and is expected to grow in the forecast period.

The abundance of consumer electronics manufacturing companies in the region is expected to promote the growth of the flexible hybrid electronics market in APAC countries. Leading companies like Samsung Electronics, Huawei, and Xiaomi are actively investing in their display panel technology to enhance the user experience of their products. For instance, Huawei Company introduced a new smartphone with a foldable and flexible screen, Pocket S. In addition, the expanding automotive sector of the Asian countries including the manufacturing units of Kia, Toyota, and Hyundai offers an opportunity for the application of flexible hybrid electronics to produce vehicle components with lower weights. Hence, the flexible hybrid electronics market in the Asia Pacific region is anticipated to expand significantly over the forecast period.

Key Market Segments:

• By Application

• Security Tags
• Sensors
• Displays

• By End-Users

• Consumer electronics
• Healthcare
• Industrial
• Automotive
• Others

• By Geography

• North America

• USA
• Canada
• Mexico

• South America

• Brazil
• Argentina
• Others

• Europe

• United Kingdom
• Germany
• France
• Italy
• Spain
• Others

• Middle East and Africa

• Saudi Arabia
• UAE
• Others

• Asia Pacific

• China
• Japan
• India
• South Korea
• Taiwan
• Others