Research Nester published a report titled “Stretchable Devices Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global stretchable devices market in terms of market segmentation by technology, substrate material, application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global stretchable devices market is anticipated to grow with a CAGR of ~28% during the forecast period, i.e., 2022-2031. The market is segmented by technology into stretchable circuits, stretchable batteries, stretchable displays and others. Out of these segments, the stretchable displays segment is anticipated to garner the largest revenue, backed by the rising demand for flexible display screen. Moreover, many industries are focusing on high quality displays and thus resulting in segment growth.
The global stretchable devices market is estimated to garner a moderate revenue by the end of 2031, backed by the continuous demand of stretchable devices in healthcare, defense and automotive industry. Along with this, some other features which include high resolution, lower power consumption and better contrast ratio are anticipated to boost the sales of stretchable devices. In addition, stretchable devices have wide applications in the development of electronic circuits and manufacturing of display screens for laptops, TVs and mobiles. Hence, such factors are expected to drive the growth of the market in the coming years.
Geographically, the global stretchable devices market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in Asia Pacific region is projected to garner the largest revenue by the end of 2031, backed by the increasing growth of electronic consumer durable industry. Apart from this, the market in Europe is anticipated to register a significant growth in the coming years.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Rising Trend of Smartwatches and Wearables to Drive Market Growth
According to statistics, in 2020, the number of connected wearable devices globally has reached nearly 800 million and has crossed 1 billion by mid-2022.
The increasing use of stretchable devices in the manufacturing of smartwatches and wearables is creating growth opportunities for the stretchable devices market. For example, stretchable batteries provide battery support to smart watches. Simultaneously, developments in flexible displays are contributing to the adoption of stretchable displays in the production of smart watches and wearables. In addition, favorable government support in the form of incentive schemes and increased investment are also fueling the growth of the market. On such factors, the stretchable devices market is expected to grow in the coming years.
However, the high cost of research & development of end product and lack of trained professionals for development operations are expected to operate as key restraint to the growth of global stretchable devices market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global stretchable devices market which includes company profiling ofSamsung Electronics, Innolux Corporation, AUO Corporation, Japan Display Inc., Sharp Corporation, BOE Technology Group Co., Ltd., Visionox Technology Inc., E Ink Holdings Inc., Corning Incorporated and LG Display Co., Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global stretchable devices market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
