The flexible electronics market size is projected to reach USD 48.5 billion by 2026 from an estimated USD 31.9 billion in 2021, at a CAGR of 8.8% from 2021 to 2026. Rising demand for consumer electronic devices and low cost of production as compared to rigid substrates are among the factors driving the growth of the flexible electronics & circuit market.
Samsung Group (South Korea), LG Corp. (South Korea), Panasonic Corporation (Japan), The 3M Company (US), Konica Minolta Inc. (Japan), First Solar, Inc. (US), E Ink Holdings (Taiwan), PragmatIC Printing Ltd. (UK), Blue Spark Technologies, Inc. (US), and BrightVolt Technologies (US), are some of the key players in the flexible electronics & circuit market. These players have adopted various growth strategies, such as product launches and developments, agreements, acquisitions, expansions, and partnerships to retain their presence in the flexible electronics & circuit market. Product and services launches and developments has been the most dominating strategy adopted by the key players from January 2017 to January 2021 to help them strengthen their product portfolio and broaden their customer base.
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Samsung Group held the leading position in the flexible electronics & circuit market. The company witnessed a revenue decrease of approximately -1.5% from 2019 to 2020 and held a ~54%-56% share of the flexible electronics market in 2020. To strengthen its market position, the company is engaged in constant product launches and developments. It focuses on expanding the flexible electronics product portfolio to cater to the demands of various industries.
LG Corp. held the second position in the flexible electronics & circuit market. The company is a well-established brand in the flexible electronics & circuit market. A market leader, the company has expanded its reach globally, and is expected to capture a large share of the market in the near future. LG Corp. utilizes the latest technology and offers a range of products to customers. In 2020, LG Electronics (LG) launched the LG SIGNATURE OLED R (model RX) rollable TV to deliver a differentiated user experience for customers.
Panasonic Corporation has secured third position in the flexible electronics & circuit market. The company’s flexible electronics market is spread throughout Japan. The company functions through five business segments, and depends equally on each for revenue generation. Panasonic is focusing on product launches and developments. In December 2020, the company released software for its Panasonic logiscend system to offer increased material flow efficiency and data analytics for complex manufacturing customers. This is expected to provide a flexible pick application that can be used in the warehouse, supermarket or line-side
The 3M Company has secured fourth position in the flexible electronics & circuit market. The company has a strong financial position, recording profits during the past five years, along with accumulated profit reserves that can be used to finance future capital expenditures. The company’s strong distribution and sales network in the Americas brings it major business from the region.
Konica Minolta has secured fifth position in the flexible electronics & circuit market. The company has a good distribution network and reach in APAC, Europe, and North America, allowing its products to reach a large number of customers in a timely manner. The company has a strong relationship with its dealers who focus on promoting the companys products and provide training. Konica Minolta has a strong financial position with consecutive profits in previous years, along with accumulated profit reserves that can be used to finance future capital expenditures.
Flexible Electronics & Circuit Market with COVID-19 Impact Analysis by Structure Type (Single Sided Flex Circuit, Multilayer Flex Circuit), Application (Displays, Printed Sensors), Vertical (Consumer Electronics), and Geography - Global Forecast to 2026
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