Chip-on-Flex Market size was valued at USD 1.4 billion in 2024 and is expected to secure a valuation of USD 2.4 billion in 2037, expanding at a CAGR of 4.3% during the forecast period, i.e. 2025-2307. In 2025, the industry size of chip-on-flex is assessed at 1.5 billion.
The chip-on-flex technology is experiencing an increasing demand in automotive and healthcare applications as it is capable of operating reliably in harsh conditions. It is widely used in the automotive sector, particularly in advanced driver-assistance systems (ADAS), infotainment systems, and a broad range of sensors. Such applications require lightweight, compact, and robust components that should be capable of enduring vibrations, mechanical loads, and temperatures. In January 2023, Qualcomm introduced the Snapdragon Ride Flex, the next-generation automotive SoC, combining ADAS, ADS, infotainment, and connectivity capabilities. It plans out scale for features at price points and up to 700 TOPS for premium automotive architectures, targeting advanced automotive architectures.
The chip-on-flex technology plays a major role in the advancements of wearable medical devices and diagnostic tools and equipment. This technology is suitable for medical sensors including heart rate trackers, bio-patch devices, and glucose. Most of these devices need extended contact with the human body, therefore having to be made from robust materials that are suitable for use in conditions characterized by flexibility. For instance, in September 2022, VeriSilicon introduced VeriHealth, its customizable one-stop chip design platform. Implementing the company’s low-power IP series as well as advanced SoC customization technologies, the platform offers a complete wearable health monitoring solution from chip design to reference application development at a performance level.
Growth Drivers
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
4.3% |
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Base Year Market Size (2024) |
USD 1.4 billion |
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Forecast Year Market Size (2037) |
USD 2.4 billion |
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Regional Scope |
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Type (Single Sided Chip, Others)
Based on the type, the single sided chip segment is projected to hold chip-on-flex market share of more than 59% by 2037, owing to their continually rising demand from various industries, particularly from consumer electronics. The high demand is attributed to their cost-effectiveness, simplicity, and proven reliability in static applications including display panels. These designs are optimized for low-power devices. The segment's dominance is attributed to its widespread application in high-demand products including touch panels and wearable devices, where consistent performance and compact form factors are essential. Single-sided COF solutions also align well with high-volume manufacturing processes, making them an ideal choice for emerging chip-on-flex (COF) markets where scalability and cost optimization are paramount.
Application (Static, Dynamic)
By application the static segment in chip-on-flex market is expected to register rapid revenue growth during the forecast period. This segment comprises products that have limited motion and bending, including display panel, touch screen and other products for consumer electronics. Such applications are particularly valued as they ensure a high degree of stable reliability and long-life duration of cycles at constant loads that are essential for demanding products including mobile devices and consumer electronics.
In particular, the need for increasingly cost-effective, more energy efficient and reliable for high-volume manufactured electronic devices, static chip-on-flex solutions provide a better option compared to traditional approaches. The COF technology enables the smaller, lightweight, and more compact device designs without compromising performance or reliability. With industries emphasizing more on reducing energy consumption and improving environmental concerns, the COF technology’s efficiency in power conversion and heat management has become a demanded solution.
Our in-depth analysis of the global chip-on-flex market includes the following segments:
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Type |
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Application |
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Vertical |
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Asia Pacific Market Analysis
Asia Pacific in chip-on-flex market is anticipated to dominate over 60.2% revenue share by 2037, owing to the region’s focus on electronics manufacturing in China, Japan, and South Korea. These countries are at the forefront of the research and production of the new generation of consumer electronics. The expanded usage of flexible displays has enormously stimulated the chip-on-flex (COF) market solutions driving industry trends for compactness, lightweight, and efficiency in energy consumption. For instance, in November 2024, LG Innotek, a South Korean giant announced its plans to invest USD 268 million in its Haiphong factory. The investment is aimed at enhancing the production of optical solutions and is expected to double the production by 2025, supporting advanced camera modules and stabilizing supply chains.
The chip-on-flex market in China is projected to experience robust growth during the forecast period, attributed to the development of the electronics manufacturing industry and the application of miniaturized and lightweight components. China is a world powerhouse in electronics manufacturing and these leading tech giants including Huawei, Xiaomi, and Oppo have been adopting COF technology. Various policies and supportive capital from the government regarding the high-tech industries are further propelling the growth of the chip-on-flex market in China. China is expected to account for more than 60% of new global capacity for legacy chips by the end of the decade. This can be attributed to China’s “Made in China 2025” plan that currently emphasizes the electronics and innovation of advanced manufacturing.
In India, the chip-on-flex industry is anticipated to expand at a robust CAGR throughout the forecast period. This growth can be attributed to the increasing base of consumer electronics and the need for miniaturized flexible chips. The demand for smartphones wearable devices and other related electronics in India has significantly increased. As per the report by India Brand Equity Foundation (IBEF), India is emerging as the fastest-growing major market in the technical consumer goods sector, valued at USD 23.83 billion, with over 125 million units sold in the first half of 2024, representing an 11% increase in offline sales.
Miniature gadgets without losing performance depend on COF technology in manufacturing lightweight energy-efficient devices. COF has emerged as a solution of choice to improve product reliability hence its uptake by Indian manufacturers of devices sold in high volumes markets. The increasing IoT market and the investment in 5G technology also support the chip-on-flex market are necessary to build flexible and reliable components for telecommunications and industrial applications.
North America Market
The chip-on-flex market in North America is driven by innovations in consumer electronics, the automotive industry, and the Internet of Things (IoT). The strong focus of the region on innovation has accelerated the demand for flexible and compact components in wearable devices. The adoption of COF is supported by U.S. policies in R&D tax credits and Canada’s Digital Technology Adoption Program, as well as policies supporting manufacturing and COF deployment in various industries.
In the U.S., the key driver to the rapid implementation of COF is support from the U.S. government in technological development other than the consumer electronics industry. Owing to the telecommunication policies set by federal defense for enhanced development of 5G, smart cities, and IoT technologies, the prospects for usage of COFs in the country are highly significant, especially in telecommunications, automotive and industrial applications.
Canada is experiencing a significant rise in the adoption of wearable devices, smart home solutions, and other compact electronic products that benefit from COF technology. The ability to integrate chips on flexible substrates enables smaller, lighter devices with enhanced durability and performance, which is crucial for the growing chip-on-flex market of portable and energy-efficient products. The country’s emphasis on smart technologies and digital transformation is further propelling the demand for chip-on-flex technology. Canada’s focus on sustainable technology and energy-efficient products, coupled with the continually expanding industries including telecommunication, automotive, and healthcare underscore lucrative avenues for chip-on-flex market growth in the country.
The competitive landscape of the chip-on-flex market is rapidly evolving as established key players, automotive giants and new entrants are investing in new technologies, and R&D to enhance automotive and healthcare sectors. Key players in the chip-on-flex (COF) market are focused on developing new technologies and products catering to the stringent regulatory norms and consumer demand. These key players are adopting several strategies such as mergers and acquisitions, joint ventures, partnerships, and novel product launches to enhance their product base and strengthen their market position. Here are some key players operating in the global chip-on-flex market:
Author Credits: Abhishek Verma
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