Flexible Hybrid Electronics Market is Estimated To Witness High Growth Owing To Miniaturization Trends

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The Flexible Hybrid Electronics Market is estimated to be valued at US$ 139.62 Mn in 2023 and is expected to exhibit a CAGR of 10.% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Flexible hybrid electronics (FHE) combine printed and flexible electronics with traditional silicon-based electronics on thin, flexible substrates. FHE provide advantages such as flexibility, lighter weight, and mechanical robustness compared to rigid printed circuit boards (PCBs). These advantages make FHE suitable for portable and wearable devices as well as in applications requiring conformability.

Market key trends:
Miniaturization trend in the electronics industry will drive the growth of flexible hybrid electronics market over the forecast period. Miniaturization allows for the development of smaller, thinner, and more compact electronic devices. FHE allows for flexible, folded, twisted or contorted electronic circuits laid out on thin film. This enables miniaturization by utilizing surfaces that were previously unavailable for circuitry. Further, FHE are lightweight and can conform to irregular surfaces or contours, providing wearability and portability. This makes them ideal candidate for miniaturized components and wearable devices such as smart watches, virtual reality headsets, near-eye displays and digital skins. Growing demand for these portable and wearable devices will boost the demand for FHE in the coming years.

Porter’s Analysis
Threat of new entrants: The initial capital required to establish manufacturing units deters new entrants in the flexible hybrid electronics market. Significant R&D investment is also needed to develop innovative products.

Bargaining power of buyers: The presence of numerous manufacturers gives buyers leverage to negotiate lower prices. However, specialized product offerings create switching costs for buyers.

Bargaining power of suppliers: Leading suppliers such as substrate and component providers have significant influence due to their technological expertise and intellectual property. This makes buyer-supplier relationship important.

Threat of new substitutes: Technological advances in rigid printed circuit boards and surface mount technology provide substitute options. However, the versatility and miniaturization of flexible circuits attract more applications.

Competitive rivalry: Major players compete based on product innovation, sustainability practices and pricing. Collaboration is also prominent to develop advanced applications.

SWOT Analysis
Strengths: Growing usage in wearables, automotive and medical devices. Ability to conform to irregular surfaces enhances product design.

Weaknesses: High costs of fabrication and small-scale production. Durability and reliability issues restrict usage in harsh environments.

Opportunities: Emerging applications in healthcare monitoring, interactive displays and Internet of Things. Government support for printed electronics adoption.

Threats: Stringent regulations for material usage. Supply chain disruptions and economic slowdowns impact manufacturing.

Key Takeaways
The Global Flexible Hybrid Electronics Market Size is expected to witness high growth of 10% over the forecast period, due to increasing demand for miniaturized electronic components in consumer electronics. North America dominated the market in 2023 with a share of over 35%, driven by major presence of manufacturers and research initiatives in the U.S and Canada.

The Asia Pacific region is anticipated to be the fastest growing market during the forecast period, exhibiting a CAGR of around 12%. This high growth can be attributed to rising electronics production and government investments in R&D facilities in countries like China, South Korea and India.

Key players operating in the flexible hybrid electronics market are DuPont Teijin Films, PARC (Xerox Corporation), General Electric Company, Lockheed Martin Corporation, American Semiconductor Inc., Flex Ltd., Brewer Science Inc., Integrity Industrial Inkjet Integration, and SI2 Technologies Inc. These players are focusing on capacity expansions and new product launches through collaborative efforts to strengthen their market position.

 

Read more: https://www.trendingwebwire.com/flexible-hybrid-electronics-market-trends-insights/ 

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