NEWARK, DE / ACCESSWIRE / July 5, 2023 / The stretchable electronics market is anticipated to expand its roots at a steady CAGR of 6.2% between 2023 and 2033. The market is expected to have a market share of US$ 53 billion by 2033 while it is likely to be valued at US$ 29 billion in 2023.
- Advanced flexible technology, healthcare tracker, and fitness monitoring watches, along with skin-based badges for insulation tracking are gaining traction in the market.
- The technology integrating with connected devices through IoT transforms the market. The integration of artificial intelligence, machine learning, and advanced computing is garnering market growth.
- The 5G deployment and smartphone penetration are helping the market spread its boundaries while affordable prices, flexible technology, and high connectivity shaped the market’s growth trajectory.
- The higher application of stretchable electronics in the automotive, defense, and energy sectors is anticipated to have an impact on these sectors in the future. Robotic technology in the defense sector is further expected to propel the market growth
- The transforming consumer electronic industry with new development each day is anticipated to add new programs to the market’s expansion. The research and advertising-based projects are expected to be successful.
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- The United States market leads the stretchable electronics market in terms of market share in North America. The United States region is thriving at a CAGR of 5.0%. The growth in this region is caused by the technologically-enabled automotive sector and expanding healthcare research. Moreover, the transforming aerospace and defense research is projected to garner regional growth as well. The region is expected to reach a value of US$ 8.3 billion by 2033.
- The United Kingdom market is another important market. The market thrives at a CAGR of 4.6% between 2023 and 2033. The growth is attributed to increased healthcare research, a growing population of millennial consumers, and fashion trends. The regional market is projected to reach a value of US$ 1.5 billion by 2033.
- China’s stretchable electronics market booms at a strong CAGR of 7.6% from 2023 to 2033. The leading market dynamics are flourished of the expanding manufacturing facilities, technologically-driven population, and affordable pricing in China. Further, the market is likely to cross a value of US$ 13.4 billion by 2033.
- Based on component type, the flexible screen segment leads the market as it thrives at a CAGR of 6.1% between 2023 and 2033.
- Based on application type, the consumer electronics segment leads the market as the market thrives at a CAGR of 6.0% during the forecast period. Previously, the segment thrived at a CAGR of 6.7% from 2018 to 2022.
The key vendors focus on building highly flexible, affordable, and easy-to-integrate technology. Key competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.
Recent Market Developments:
- StretchSkin Technologies have started developing soft sensors that are polymer-based and are easily integrated into functional chip components. The technology also utilizes high-performance, nano-material, nano-wires, etc.
- Flexosense has launched its flexible Electronic substrates that further offer the sensor to healthcare devices, robotics, and consumer electronics manufacturers.
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Key Players Profiled in this Market:
- Forciot Ltd
- RISE Acreo
- Sri International
- Avery Dennison Corporation
- Canatu Oy
By Component Type:
- Flexible Display
- Flexible Battery
- Flexible Sensor
- Bio Sensors
- CMOS Hybrid Sensors
- Photo Detectors
- Piezo Resistive
- Flexible Memory
- Flexible Photovoltaics
- Consumer Electronics
- Medical & Healthcare
- Energy and Power
- Aerospace and Defense
Key Regions Covered:
- North America
- Latin America
- Asia Pacific Excluding Japan
- The Middle East and Africa
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