As per Inkwood Research, the Global Flexible Electronics Market is evaluated to grow with a CAGR of 8.62% in terms of revenue during the forecasted period of 2023-2032.
“Browse 69 Market Data Tables and 59 Figures spread over 250 Pages, along with an in-depth TOC on the Global Flexible Electronics Market Forecast 2023-2032.”
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Flexible electronics enhance the usability, portability, and manufacturing viability of sensors. Various industries, including healthcare (biosensors), consumer electronics (fingerprint sensors), transportation (autonomous driving), and others, are utilizing sensors in novel areas, mainly on account of the real-time data they gather.
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High Demand for Compact & Cost-Effective Products to Prompt Market Growth
The demand for lightweight, mechanically flexible, and cost-effective devices in applications such as medical, consumer electronics, automotive, and others is on the rise. Accordingly, flexible electronic devices have gained considerable traction in terms of catering to the needs of the industry. Furthermore, they also have the potential to transform computing by enabling bendable systems with arbitrary shapes.
Flexible Photovoltaics: Leading Component by 2032
Solar energy is one of the most abundant as well as renewable energy sources, globally. Aligning with this, photovoltaic (PV) devices that directly convert solar energy into electricity have been deemed promising for a CO2 emission-free energy supply. This factor, in turn, plays an essential role in fueling the adoption of flexible photovoltaics in the global flexible electronics market.
Asia-Pacific to be the Fastest-Growing Regional Market
The market growth in the Asia-Pacific is fueled by key drivers, such as the presence of leading semiconductor manufacturing nations, the rising need for smartphones, as well as the increasing demand and production of automobiles. In addition, some of the top companies operating in the global market include Fujikura Ltd, Konica Minolta Inc, AGC Inc, Japan Display Inc, Sumitomo Corporation, etc.
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