At a projected CAGR of 8.8% from 2021 to 2026, the Flexible Electronics Market Size is expected to grow from an estimated USD 31.9 billion in 2021 to USD 48.5 billion by 2026. The Flexible Electronics & Circuit Market is expanding due to reasons including the rising demand for consumer electronics and the lower production costs compared to rigid substrates.
Some of the major players in the flexible electronics & circuit market include 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). To maintain their position in the Flexible Electronics & Circuit Market, these players have implemented a variety of growth methods, including new launches and developments, agreements, acquisitions, expansions, and partnerships. From January 2017 to January 2021, the leading players' most dominant strategy for bolstering their product portfolios and growing their customer bases was the introduction of new products and services.
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In the market for flexible electronics and circuits, Samsung Group dominated. The company's revenue dropped by roughly 1.5% between 2019 and 2020, and in 2020 it retained a 54%–56% market share for flexible electronics. The corporation constantly introduces new products and develops existing ones in an effort to increase its market position. To meet the needs of numerous industries, it focuses on increasing the flexible electronics product range.
In the market for flexible electronics & circuits, LG Corp. was ranked second. The business has a strong reputation in the market for flexible electronics and circuits. As a market leader with a global reach, the business is anticipated to soon hold a sizable portion of the industry. LG Corp. uses cutting-edge technology and provides clients with a variety of products. To give customers a unique user experience, LG Electronics (LG) introduced the LG SIGNATURE OLED R (model RX) rollable TV in 2020.
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The third-place spot in the market for flexible electronics and circuits has been taken by Panasonic Corporation. Japan is home to the company's Flexible Electronics Market. The corporation operates through five business segments, and each is equally important to generating money. Panasonic is concentrating on new product introductions and advancements. The business introduced software for its Panasonic logiscend system in December 2020 to provide customers with complicated manufacturing with improved material flow efficiency and data analytics. This is anticipated to offer a versatile pick application that can be employed in the warehouse, grocery store, or on the production line.
In the market for flexible electronics and circuits, The 3M Company has achieved fourth place. The business is in good financial shape, having made money over the previous five years and building up profit reserves that may be used to pay for future capital investments. The company receives a significant amount of business from the Americas thanks to its robust distribution and sales network there.
Konica Minolta has clinched the fifth spot in the market for flexible electronics and circuits. The business's distribution network and reach in APAC, Europe, and North America are strong, enabling its products to quickly reach a significant number of clients. The business enjoys a close relationship with its dealers, who are responsible for promoting the business's products and provide training. With years of continuous profitability under its belt and amassed profit reserves that can be utilised to fund upcoming capital expenditures, Konica Minolta is in a solid financial position.
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