Flexible Electronics Market Regional Analysis:
APAC Market Insights
Asia Pacific region is likely to hold over 40.8% market share by 2035. The growth of the market can be attributed majorly to the rising growth of the electronic consumer durable industry along with increasing government support. As per data by the India Brand Equity Foundation, in India production value of mobile devices in 2020 was around USD 30 billion. In addition, by the end of 2025, the Indian consumer electronics and appliances industry is estimated to become the fifth largest in the world. Apart from this, to set up various display fabs in this region, the government is planning to offer several incentive schemes to the manufacturers. Moreover, increased research and development expenditure and rising demand for high-quality displays are also estimated to result in the growth of the market in the region. As per data from the World Bank, China’s research and development expenditure in terms of gross domestic product was around 2.4% in 2020, up from 2.14% in 2018.
Europe Market Insights
Further, the market in Europe is estimated to gain significant growth during the forecast period, owing to the increasing adoption of smartwatches and wearables. For instance, in the United Kingdom, user penetration for smartwatches is around 5% in 2022, expected to reach 6% by 2027. Moreover, the rising demand for flexible display solution technology in countries such as UK, Spain, and Italy are estimated to boost the flexible electronics market growth in the region.
