Flexible Electronics Market Trends

Growth Drivers

• Rising Trend of IoT Devices with Increasing Adoption of Electronics – Flexible Electronics have many applications in health care including medical wearables and remote patient monitoring. The growth of the healthcare industry is anticipated to increase the demand for flexible electronics in the market. As per data by the India Brand Equity Foundation, the valuation of the Indian Healthcare sector is estimated to reach 372 billion by the end of 2022, up from USD 110 billion in 2016.
• Government Support through Policy and Investments with Growing Internet Penetration - According to data from India Brand Equity Foundation, the Government of India had set a target of attracting investments of around USD 2.4 billion in the electronics manufacturing sector by 2021-22.
• Increasing Adoption of Smartwatch and Wearables with Increasing Disposable Income – As per data, the number of wearable device users in the United States reached 86 million in 2019, up from 80 million in 2018. 
• Growth of the Consumer Electronics Industry Owing to Digitalization Around the World – According to data from the Indian Brand Equity Foundation, the appliance and consumer electronics industry in India was valued at around USD 9 billion in 2021 and is expected to reach a valuation of USD 21 billion by the end of 2025.
• Rising Growth of the Healthcare Industry with Increasing Concern on Health – flexible electronics have many applications in health care including medical wearables and remote patient monitoring. The growth of the healthcare industry is anticipated to increase the demand for flexible electronics in the market. As per data by the India Brand Equity Foundation, the valuation of the Indian Healthcare sector was estimated to reach 372 billion by the end of 2022, up from USD 110 billion in 2016.

Challenges

• High cost of Research - The cost of research in developing flexible electronics is expensive as it involves the study of various accepts. This includes data collection, practical possibilities, equipment, skilled professionals, and raw materials. All these require a huge investment in the research phase which hampers the growth of the Flexible Electronics Market.
• Trained Workforce is Required for the Development of Operation
• Less Awareness of the Benefits of flexible electronics in the Market