The demand for flexible electronics is rising at a fast pace. Experts predict a momentous growth for the market, especially on account of the rising applications in consumer electronics, military and defense, automotive, biometrics, and other industries. The fledgling flexible electronics market is expected gain considerably from the recent advancements in the wearable technology. Growth witnessed in the market is supported by several prevailing trends. The most significant of these are discussed below:
- Product Differentiation Strategies by Leading Brands Forecast to Boost Growth
Thanks to the advent of flexible electronics, leading brands are now empowered to differentiate their products from their competitors’. These can range from electronic devices to vehicles. For instance, technological advancements such as emergence of printed electronics have tipped scale in favour of manufacturers, enabling them to introduce latest features in their products.
- Medical Wearable Devices, Backed by Flexible Electronics Represents a Billion Dollar Market
Launch of medical wearable devices has stirred revolution in the healthcare industry; enabling patients monitor their health with electronic assistance round the clock and from the comfort of their homes. However, these devices require conformal, stretchable, and flexible electronics to aid the purpose they are developed for. For instance, conformal skin patches have already transformed into a billion-dollar industry, as they help keeping track of the heart health. Besides this, the advent of flexible electronics in the healthcare sector also paved way for innovations such as OLED eye masks, a brilliant breakthrough in the healthcare industry.
- Making Energy Autonomous
The novel systems assisting energy harvesting promise full independence of off grid energy. The innovation is aimed at an energy independent future. Besides ensuring lower power consumption by developing portable and wireless devices, the focus is on making street furniture such as signboards and bus shelters, energy independent.
- Hybrid Electronics – A Potential Solution to Inherent Technology Challenges
The launch of novel technologies does not entail a complete eradication of their predecessors. Instead, the thrust is on incorporating flexible and printed components in their conventional and rigid counterparts. However, achieving this juxtaposition of novel and conventional technologies is not a cakewalk. There are several challenges along the way, with regards to the integration of diverse elements to ultimately build a system suitable for design and testing. Besides this, there are challenges pertaining to the integration of the aforementioned technologies in 3D surfaces. Never mind these, the technology world has already found solutions to some of the aforementioned challenges in flexible electronics.
- Launch of Smart Packaging to Gain Better Traction
The materials that were in experimentation stage have now become ready for use in manufacture of products. The market is now flooded with a plethora of printed electronics product, which is creating real opportunities for businesses. For instance, the latest progress made in flexible electronics is the introduction of smart packaging, ranging from RFID labels to RFID sensing labels.
Now the question arises how to differentiate between smart and any regular packages. So when a pharmaceutical packaging makes sound of an alarm or food cartons alert you on the temperature, flexible and printed electronics is involved. The technology can turn an otherwise mundane cardboard box in a multi-functional packaging with displays and printed circuits.