At 9.8% CAGR, North America Flexible Electronics Market is Projected to be Worth US$ 18,464.31 Million by 2030, says Business Market Insights

According to Business Market Insights’ research, the North America flexible electronics market was valued at US$ 8,766.31 million in 2022 and is expected to reach US$ 18,464.31 million by 2030, registering a CAGR of 9.8% from 2022 to 2030. Rising popularity of foldable display and growing technological advancements are among the critical factors attributed to drive the North America flexible electronics market growth.

Foldable displays have the ability to provide a more immersive and interactive user experience by allowing users to alter the display in ways that standard displays cannot. From the standpoint of novel applications and human-machine interfaces, bending displays, from curved public information displays to folding smartphones, are an enabling technology. Compared to traditional displays, flexible screens frequently offer higher energy efficiency. They may cause gadget batteries to last longer because they consume less energy to run. In addition, unlike glass-based displays, flexible displays are made on plastic substrates, which makes them shatterproof. Various smartphone manufacturers are integrating the technology to provide a premium experience to their customers. For instance, in February 2024, Honor announced that they would launch a foldable flip phone this year at Mobile World Congress 2024. This entry into flip foldable is expected to expose the company to a different price point.

Similarly, in May 2023, Google introduced its new Pixel Fold, a new foldable phone that combines the helpfulness of Pixel with a design that unfolds into a compact tablet. The phone is also powered by Google Tensor G2 chip, making Pixel Fold fast and secure. Thus, the growing integration of foldable displays in smartphones, tablets, and other electronic devices is projected to propel the growth of the flexible electronics market.

On the contrary, the high initial cost and difficulty in circuit modification hampers the growth of North America flexible electronics market.

Based on component, the North America flexible electronics market is segmented into display, battery, sensors, memory, and others. The display segment held 43.6% market share in 2022, amassing US$ 3,823.43 million. It is projected to garner US$ 8,383.97 million by 2030 to register 10.3% CAGR during 2022–2030.

In terms of application, the North America flexible electronics market is segmented into consumer electronics, automotive, healthcare, industrial, and others. The consumer electronics segment held 48.7% share of North America flexible electronics market in 2022, amassing US$ 4,267.55 million. It is anticipated to garner US$ 8,846.45 million by 2030 to expand at 9.5% CAGR during 2022–2030.

Based on country, the North America flexible electronics market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 81.5% share of North America flexible electronics market in 2022. It was assessed at US$ 7,147.17 million in 2022 and is likely to hit US$ 15,419.07 million by 2030, registering a CAGR of 10.1% during 2022–2030.

Key players operating in the North America flexible electronics market are Samsung Electronics Co Ltd; LG Electronics Inc; SRI International; Imprint Energy; Blue Spark Technologies, Inc.; E Ink Holdings Inc; General Electric Co; AUO Corp; and MFLEX, among others.

• In January 2023, E Ink, the originator, pioneer, and global commercial leader in digital paper technology, announced the launch of E Ink Prism™ 3, a next-generation segmented display that features dynamic color-changing capabilities. E Ink Prism 3 is the next generation E Ink Prism film, which bridges the gap between traditional static materials and digital technology with dynamically changing materials. Fully programmable, designers can now integrate endless materials with changeable colors and patterns. At CES 2023, BMW is using E Ink Prism 3 to create a multi-colored skin on their new i Vision DEE concept car, the first use of E Ink Prism 3 in automotive applications.
• In November 2022, LG Display unveiled the world's first 12-inch high-resolution Stretchable display equipped with outstanding free-form technology that enables it to be extended, folded, and twisted without distortion or damage. The company's newly unveiled Stretchable display is the industry's first to achieve 20% stretchability, a resolution of 100ppi, and full-color RGB. In addition, its high flexibility, durability, and reliability maximize its potential for commercialization.

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