Flexible Hybrid Electronics (FHE) Market Size

Flexible Hybrid Electronics Market Analysis

The flexible hybrid electronics market was valued at USD 108.1 million in 2020 and is expected to reach USD 264.39 million by 2026, registering a CAGR of 16.2% over the forecast period (2021-2026). Hybrid electronics combine the flexibility, lightweight nature, thinness, and of large-area electronics with the processing power of semiconductors to open a broad range of new applications across different end-use applications, such as the Internet of Things (IoT), smart buildings, healthcare, product packaging, retail, and consumer electronics.

• FHE (flexible hybrid electronics) offers the power of silicon ICs to products by combining them with new and unique printing processes and materials. The result is a lightweight, low-cost, flexible, conformable, stretchable, and highly efficient smart product. This led to the emergence of a new category of electronics capable of catering to the requirements of a plethora of applications in the industry.
• Flexible hybrid electronics are also helping product designers in a new way to use sensors to collect data and deliver actionable insights that enhance functioning. The growing development and innovations in the studied market are expected to revolutionize the electronics Industry. With the advent of the IoT, flexible hybrid electronics will provide massive opportunities to develop and integrate smart systems and devices for low-cost, everyday use. Like automotive, military, aerospace, healthcare, and displays, industries are utilizing flexible and hybrid sensors and wearables in their products.
• The advancements in the semiconductor industry are also bringing advancement in the development process of FHE. The market is also witnessing MEMS integrated with FHE devices, which will be ideal for the rapid design and deployment of data-gathering sensor nodes that can be utilized for specific applications. A few examples include medical pressure sensors for monitoring blood pressure, on-body health monitoring devices for bio-fluids analysis and peel-and-stick sensors nodes for infrastructure monitoring.
• The government is also playing a significant role in the development of the flexible hybrid electronics market. It is not only generating awareness but also motivating enterprises, through public-private partnerships, investing in the research and development (R&D) and commercialization of the technology.
• However, the market is in its infancy, with a very limited number of manufacturers having commercialized their products. Products from a majority of the players developing this technology are in their R&D phase. Moreover, the market has not seen any significant investment from any of the major players, due to which the progress in developing a mass adoptable product has not materialized. Further, due to the outbreak of COVID-19, there is a disruption in the electronics industry's supply chain- thereby challenging the market growth.