The European flexible electronics market is estimated to grow modestly, at a CAGR of around 14.5%, during the forecast period. Europe contributes a significant share in the flexible electronics market. Flexible electronics have a range of applications across automotive, healthcare, smartphones, defense, and wearable devices, among others. Europe has been significantly contributing to the market, owing to the growing number of start-ups and demand for early and accurate detection and monitoring of diseases. The increasing expenditure in the electronics, automotive, and healthcare sector by the European countries have increased in the past few years.
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Europe is considered as a prominent electronics region, designing and manufacturing leading-edge micro and nanoelectronics solutions for the global electronics market. The electrical and electronics engineering sector of the region provides huge potential for innovative development and attracting a large sales market. Europe’s legislative bodies continuously strive for more fuel and energy efficiency, for propelling growth for the electronics sector in the automotive, lighting, and building sectors. Electronics industries are striving to develop smart and much more automated electronics products for the increasingly aging population in the region. This includes wireless wearable devices for health monitoring, which are substantially increased the demand for electronic innovation in this sector.
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EU Framework Programs aims in providing funding for research and technological development, in order to support research within the EU. Under the EU Framework Programs, the Seventh Framework Program includes the development of OLED technology, which consists of various applications in the field of flexible electronics across numerous applications such as lighting systems and displays. Flex-o-Fab is a small project covered under EU Framework Program, is intended to commercialize OLED lighting systems using roll-to-roll (R2R) manufacturing processes in 2018.
The companies which are contributing to the growth of the European flexible electronics market include PragmatIC, 3M Co., BASF SE, Fujikura Ltd., LG Electronics, Inc., and Samsung Electronics Co., Ltd. The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups and technological advancements to stay competitive in the market. For instance, in November 2018, PragmatIC and Smooth & Sharp Corporation (S&S), an RFID manufacturing tools supplier has announced a strategic collaboration. The company is estimated to gain a competitive edge with increasing adoption of PragmatIC’s flexible integrated circuits (FlexICs). This would support the company’s financial strength which as a result grows the operational facilities.
Market Segmentation
European Flexible Electronics Market by Type of Component
- Flexible Display
- OLED
- E-paper
- LCD
- Flexible Battery
- Flexible Sensors
- Biosensors
- CMOS Hybrid Sensors
- Photo Detectors
- Piezo Resistive
- Flexible Memory
European Flexible Electronics Market by Application
- Consumer Electronics
- Smartphone and Tablets
- Wearable Devices
- Television
- Others (Smart Cards)
- Healthcare
- Automotive
- Energy and Power
- Defense and Aerospace
- Others (Biometrics)
Regional Analysis
- UK
- Germany
- Italy
- France
- Spain
- Rest of Europe
Company Profiles
- 3M Co.
- BASF SE
- Fujikura Ltd.
- General Electric Co.
- LG Electronics, Inc.
- Nippon Mektron, Ltd.
- Plastic Logic GmbH
- PragmatIC
- Samsung Electronics Co., Ltd.
- Thin Film Electronics ASA
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
