The Stretchable Devices Market is assessed to arrive at US$ 1.5 Bn in 2021, and is supposed to develop by over 30% CAGR during the gauge time frame 2021-2031. Stretchable gadgets are essentially known as flexible circuits. They are a blossoming innovation, which can be utilized for creating electronic circuits.
The electronic circuits are created by implanting the stretchable gadgets and circuits on protractible substances in a stretchable synthetic compound material, known as silicone or polyurethane. The stretchable gadgets request has seen a few patterns like development of mechanical plan, material combination, and manufacture procedures.
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What is Driving Demand for Stretchable Devices?
There has been tremendous technological advancements in the past few years in the flexible devices sector. The devices are getting changed day by day from bulky to slim. This is one of the factor contributing to the growth of stretchable devices globally.
High resolution, low power consumption and improved contrast ratio are major features offered by stretchable devices. Traditional display devices based on CRT technology had never provided these features in the past. This need is further propelling stretchable devices sales.
Due to high competition, new products are developed and launched with attractive looks and high-end specifications. Big players in this segment like Samsung and LG have led the display market toward a new era. They are launching products based on technologies such as Q-dot LED and OLED.
An excellent contrast rate and better viewing angle are the features of OLEDs, which are brighter than LCDs. High specifications and attractive looks of display products such as mobile phones, TVs, notebooks and desktop monitors are grabbing the attention of consumers. Thus, the market of stretchable devices is anticipated to grow significantly, during the forecast period.
What are the Key Trends for Stretchable Devices?
Comparing to other variants, OLED flexible screens are energy efficient. Manufacturers are finding easy to construct OLEDs as individual pixels due to small form factor. There has been a considerable demand of curved OLED TVs in consumer electronics industry.
Due to better image quality, simplified design and limited flexibility, OLED display systems are gaining popularity day by day. OLED displays are thinned and molded as they do not involve backlighting. This is one of the factor, augmenting the growth of stretchable devices globally.
Countries like India, South Korea and China have the high operating revenue from mobile devices as compared to other countries. There has been a continuous demand for a device up-gradation in these countries. This is contributing to the growth of stretchable devices.
For instance, sales revenue of LG was high in 2019 as compared to other previous years and amounted to more than 6.4 trillion KRW (South Korean Won). Therefore, the growth of stretchable devices is expected to propel in the upcoming years.
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Europe Demand Outlook for Stretchable Devices
Currently, Europe region is one of the biggest market in international smart watches and wearables consumption. Many key players in the region are aiming for collaboration, acquisition and new product strategies to escalate their business presence.
The growing demand for display solution in the countries like UK, Spain, Italy, France and others, for stretchable devices technology has opened new growth avenue. Flexible display solutions technology has moved far beyond in Europe and this leads the way for growth of stretchable devices.
Who are the Key Stretchable Devices Vendors?
Some of the leading vendors of stretchable devices include
- LG Display Co. Ltd.
- Samsung Electronics
- Innolux Corp.
- AU Optronics
- Japan Display Inc.
- BOE Technology Group Co. Ltd.
- Sharp Corp.
- Visionox Corporation
- E Ink Holdings Inc.
- Corning Incorporated
- FlexEnable Limited
- Kateeva
- Cambrios Technologies Corp.
- Royole Corporation
- Others
These companies are carrying out different expansion strategies to increase their customer base and market shares.
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Key Segments
By Technology
- Stretchable Circuits
- Stretchable Batteries
- Stretchable Displays
- Others
By Substrate Material
- Glass
- Plastic
- Others
By Application
- Smartphone & Tablet
- Smartwatches & Wearables
- Television & Digital Signage Systems
- PC Monitors & Laptops
- E-reader
- Electronic Shelf Labels (ESLS)
- Vehicles & Public Transports
- Others
By Region
- North America
- US
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- UK
- France
- Germany
- Italy
- Spain
- BENELUX
- Russia
- Rest of Europe
- East Asia
- China
- Japan
- South Korea
- South Asia & Pacific
- India
- Thailand
- Indonesia
- Malaysia
- Australia & New Zealand
- Rest of South Asia & Pacific
- Middle East & Africa
- GCC Countries
- Turkey
- South Africa
- Rest of Middle East and Africa
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