Flexible Hybrid Electronics Global Market Report 2024

The flexible hybrid electronics market size has grown rapidly in recent years. It will grow from $0.11 billion in 2023 to $0.12 billion in 2024 at a compound annual growth rate (CAGR) of 14.3%. The expansion witnessed in the historical period can be attributed to several factors, including the demand for foldable displays, the emergence of flexible sensors, the transition towards 5G networks, and the adoption of flexible printed circuit boards.

The flexible hybrid electronics market size is expected to see rapid growth in the next few years. It will grow to $0.21 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%. The anticipated growth in the forecast period is expected to be driven by factors such as supply chain resilience and localization, government initiatives and regulations, the expansion of the aerospace and defense sector, increased investment in research and development, and the trend towards miniaturization of electronic devices. Key trends expected in the forecast period include advancements in printed electronics, rapid growth in Internet of Things (IoT) applications, developments in flexible display technologies, technological convergence, and enhancements in flexible sensor technology.

The increasing production of automobiles is anticipated to drive the growth of the flexible hybrid electronics market in the foreseeable future. Automobiles, characterized as autonomous vehicles with four wheels powered by either electric motors or internal combustion engines, are experiencing a surge in production due to rising global demand, technological advancements, and expansion into emerging markets. Flexible hybrid electronics play a crucial role in automobiles by offering enhanced design flexibility and facilitating the integration of lightweight, conformable electronic systems, thereby enhancing functionality and performance. For instance, in May 2023, according to the European Automobile Manufacturers Association, a Belgium-based automobile manufacturers association, in 2022, the global production of motor vehicles reached 85.4 million units, reflecting a notable increase of 5.7% compared to 2021. Therefore, the rising production of automobiles is driving the growth of the flexible hybrid electronics market.

Leading companies in the flexible electronics and circuit market are prioritizing the development of advanced flexible circuit production processes to drive revenue growth. Advanced flexible circuit production processes encompass manufacturing techniques that yield flexible printed circuit boards (PCBs) featuring intricate designs, high reliability, and superior performance characteristics. For instance, in April 2024, Ennovi, a Singapore-based provider of mobility electrification solutions, introduced Flexible Cut Circuit (FDC) technology tailored for manufacturing flexible circuits utilized in low-voltage signal applications for electric vehicle (EV) battery cell contact systems. This innovative technology offers a more cost-effective and environmentally sustainable alternative to conventional flexible printed circuits (FPCs). FDC technology streamlines the manufacturing process, enabling faster continuous production and immediate copper recycling, thereby enhancing eco-friendliness and efficiency.

Major companies operating in the flexible hybrid electronics market are making significant investments to reinforce their market position. Investment in flexible hybrid electronics involves allocating funds or capital toward the development, production, or utilization of electronic systems combining flexible substrates with rigid components for diverse applications. For instance, in December 2022, NextFlex, a US-based electronics manufacturer, announced securing over $8 million in funding for Flexible Hybrid Electronics (FHE) innovations. This funding will support projects aimed at advancing hybrid electronics manufacturing, particularly in advanced semiconductor packaging and environmental sustainability. The grant, involving contributions from various stakeholders, will be directed toward projects addressing critical manufacturing challenges and developing environmentally sustainable electronics manufacturing processes.

Major companies operating in the flexible hybrid electronics market are Samsung Electronics Co Ltd., Panasonic Corporation, Jabil Inc., Flex Ltd., LG Display Co Ltd, Du Pont De Nemours and Company, AU Optronics Corporation, E Ink Holdings Inc., Royole Corporation, Pragmatic Semiconductor, Brewer Science Inc., NovaCentrix, Blue Spark Technologies Inc., Plastic Logic Limited, XENON Corporation, Ynvisible Interactive Inc., BeBop Sensors Inc., C3Nano Inc., Ares Materials Inc., MC10 Inc., Powercast Corporation, Canatu Oy, Polyera Corporation, American Semiconductor Inc., Imprint Energy Inc.

North America was the largest region in the flexible hybrid electronics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the flexible hybrid electronics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the flexible hybrid electronics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Flexible hybrid electronics (FHE) are electronic devices crafted on flexible substrates, merging rigid and flexible components. They facilitate the creation of lightweight, conformable, and stretchable electronics suitable for a wide array of applications, from wearable devices to IoT sensors. FHE transforms the electronics landscape by offering lightweight, durable, and customizable solutions capable of conforming to irregular shapes and surfaces.

The primary structure types of flexible hybrid electronics include rigid-flex circuits, multilayer flex circuits, double-sided flex circuits, single-sided flex circuits, among others. Rigid-flex circuits combine rigid and flexible substrates bonded together to form a circuit board capable of bending and flexing without damage. These circuits find utility in various applications such as displays, batteries, thin-film photovoltaics, printed sensors, organic light-emitting diode lighting, and more, across diverse sectors including industrial, consumer electronics, automotive, military and defense, aerospace, among others.

The flexible hybrid electronics market research report is one of a series of new reports that provides flexible hybrid electronics market statistics, including flexible hybrid electronics industry global market size, regional shares, competitors with a flexible hybrid electronics market share, detailed flexible hybrid electronics market segments, market trends and opportunities, and any further data you may need to thrive in the flexible hybrid electronics industry. This flexible hybrid electronics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The flexible hybrid electronics market consists of sales of sensors, actuators, smart textiles, and flexible displays. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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