It is projected that the stretchable electronics market would grow at a consistent compound annual growth rate (CAGR) of 6.2% from 2023 to 2033. The market is anticipated to be valued at US$ 29 billion in 2023 and to have a market share of US$ 53 billion by 2033.
Innovative flexible technology, fitness trackers, healthcare trackers, and skin-based badges for tracking insulation are becoming more and more popular in the market.
The market is transformed by technology that integrates with Internet of Things-connected gadgets. The market is expanding thanks to the integration of artificial intelligence, machine learning, and sophisticated computing.
The market is expanding thanks to the rollout of 5G and the increasing use of smartphones, and its development trajectory has been characterised by low pricing, adaptable technology, and strong connection.
It is expected that the automotive, defence, and energy sectors would be impacted by the increased use of stretchable electronics in these industries. The defence industry’s use of robotic technology is anticipated to further fuel market expansion.
It is projected that the consumer electronics sector, which is always evolving, will introduce new initiatives to further propel market growth. It is anticipated that the research and advertising-based ventures would succeed.
In terms of market share in North America, the stretchable electronics market is dominated by the United States. The region around the United States is growing at a CAGR of 5.0%. The automobile industry’s technical advancements and the rise of healthcare research are the main drivers of this region’s growth. Furthermore, development in the region is anticipated to come from the developing field of aerospace and defence research. By 2033, the region is projected to generate $8.3 billion in revenue.
The market in the United Kingdom is very significant. From 2023 to 2033, the market expands at a compound annual growth rate of 4.6%. The expansion is ascribed to rising healthcare research, the millennial consumer demographic, and fashion trends. By 2033, the regional market is expected to grow to US$ 1.5 billion.
Stretchable electronics sales in China soar from 2023 to 2033 at a robust CAGR of 7.6%. China’s population pushed by technology, growing production facilities, and low prices are the key market factors. Furthermore, by 2033, the market is probably going to surpass a value of US$ 13.4 billion.
The market is led by the flexible screen sector, which is growing at a compound annual growth rate (CAGR) of 6.1% between 2023 and 2033.
The consumer electronics sector dominates the market based on application type, growing at a compound annual growth rate (CAGR) of 6.0% throughout the forecast period. The market previously saw growth in the range of 6.7% CAGR between 2018 and 2022.
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As of 2022, the worldwide market is expanding at a compound annual growth rate (CAGR) of 8.5%. The new class of bendable, stretchy, and twistable electronics is called flexible electronics, and it makes it possible to manufacture and improve the features and capabilities of new digital devices.