The Global Flexible Sensors Market is estimated to reach $11.27 billion by 2027. This market is estimated to grow with a CAGR of 7.1%. The Outbreak of Covid-19 has resulted in positive growth in the market, as such sensors are used by many healthcare specialists.
Flexible sensors have a variety of uses, including tracking data from planes, wind turbines, and engines, inventory tracking, and more. Flexible packaging and high-end items are examples of situations where embedded sensors are ineffective; in these cases, flexible equipment is appropriate. Due to advancements in the flexible contraptions business, fully flexible sensors are predicted to gain traction. Others are considerably more complicated and require numerous layers for functioning. Some have a very basic structure with only a few electrodes, while others are much more complex and require multiple layers for operation. Whatever the sort of structure, the ability to produce it on plastic substrates provides significantly more mechanical flexibility and leanness, lowering weight.
Impact of Covid-19 on Flexible Sensors Market
Northwestern University in Evanston, Illinois, is a leader in the development of soft, flexible, skin-like materials with health-monitoring capabilities. One gadget, a wireless, Bluetooth-connected piece of polymer and electronics meant to fit in the hollow at the base of the throat, allows real-time monitoring of talking, breathing, heart rate, and other vital indicators, and might be utilised in people who have had a stroke and need speech therapy. Physicians wanted to know if the gadget might be tweaked to detect signs of the SARS-CoV-2 coronavirus. In Chicago, Illinois, 400 of the devices are currently being used to help front-line health workers recognise early indications of COVID-19, as well as for disease monitoring in patients.
These sensors are now being used as wearable skin products to monitor the development of Covid-19 in our bodies in early stages. These sensors help identify the covid symptoms in early stages as they can be placed both internally and externally in the body. With instances of the new coronavirus COVID-19 remain on the rise, the worldwide electronics industry has seen a minor increase. The worldwide electronics sector has seen two effects as a result of the epidemic. The manufacture of electronics parts has been delayed due to a global logistical slowdown and a lack of labour, which will have an influence on the flexible sensors industry in the long term.
Increasing demand for Mobile Phones and Smart Wearables boosts the flexible sensors market
Owing to an increased need for ultra-thin sensors that can be put to non-flat surfaces and mass-produced over broad regions, flexible fingerprint sensors may be integrated into goods such as mobile phones and wearables, bringing capabilities to biometric applications. Flex Enable Limited, for example, has developed the world's first 500 dpi flexible fingerprint sensor on a plastic substrate, which can be used for both tiny and large-area fingerprint scanning. According to the Consumer Technology Association, smartwatch unit sales climbed from 5 million in 2014 to 141 million in 2018. Furthermore, according to Cisco Systems, the global number of linked wearable devices has more than quadrupled in the last three years, rising from 325 million in 2016 to 722 million in 2019. By 2022, the number of devices is estimated to exceed one billion.
Upliftment of the Internet of Things (IoT) is set to increase the flexible sensor market
The increased use of consumer electronics and specialised robotics, as well as the numerous advantages given by these sensors, such as flexibility of use and excellent dependability over ordinary sensors, are driving market expansion. Furthermore, market growth is poised to be fuelled by the general improvement of the internet of things industry. The quality and dependability of data gathered from the use of such technology is a potential driver in the market's growth. However, issues such as ease of use and cheap conductive ink costs are projected to stymie the growth of the flexible and flexible sensor industry.
Privacy Concerns hold back the flexible sensors market growth
These devices are being used to monitor the health conditions of the patients which are often considered as sensitive data. Leaking of such data can result in catastrophic results and threaten the well-being of the patient.
Flexible piezo resistive sensors have been around for a long time, and they're still utilised in things like automotive occupancy sensors, musical instruments, industrial equipment, and some medical devices. Despite the fact that these markets have become somewhat commoditized, the industry is innovating to get access to new, distinctive, higher-value applications. 3D touch panels, for example, may assess applied force as a function of position, allowing for more complicated HMI gesture recognition than capacitive touch panels. Suppliers are still focusing on phones, computer games, and car interiors.
Flexible and wearable sensors are anticipated to deliver precise and reliable sensing without interfering with the users' natural motions or comfort. As a result, skin-like conformability and stretchability are crucial characteristics of flexible sensors. Due to their remarkable optical transparency, simplicity of manufacture, and superior deformability, flexible thermoplastic polymers such as polyethylene terephthalate and polyurethane have been used for the construction of flexible materials to accomplish these qualities.
Piezoelectric sensors, rather of increasing their resistance, create a voltage in reaction to an applied force. While they can be used for force detection in the same way as piezoresistive sensors can, they are more expensive to make and integrate. As a result, manufacturers are focusing on applications that take advantage of their unique qualities, particularly their sensitivity to high-frequency vibrations. The commercial challenge for flexible piezoelectric sensors is that their capabilities fall somewhere in the between of two well-established technologies: inexpensive piezoresistive pressure sensors and sensitive, stiff ceramic piezoelectric sensors. Thin film piezoelectric sensors are particularly suited to several somewhat specialised application areas, such as structural health and industrial condition monitoring.
Medical Devices And Medicines
The increased use of consumer electronics and specialised robotics, as well as the numerous advantages given by these sensors, such as flexibility of use and excellent dependability over ordinary sensors, are driving market expansion. Furthermore, market growth is expected to be fuelled by the general improvement of the internet of things industry. The quality and dependability of data gathered from the use of such technology is a potential driver in the market's growth. However, issues such as ease of use and cheap conductive ink costs are projected to stymie the growth of the flexible sensor industry.
Medical and Healthcare
Défense and Aerospace
Other End Users
In the flexible sensor by end user, healthcare and medical held the biggest market share. This is due to a high demand for biosensors in a variety of medical equipment, especially diabetes monitoring systems. Furthermore, it is often utilised in the diagnosis of infectious disorders. Apart from that, the rising prevalence of chronic diseases has increased the demand for effective monitoring devices that can diagnose and treat problems at an early stage.
Rest of the World(Middle East, Africa and South America)
The United States defence establishment, which has spawned a slew of profitable high-tech businesses, has expressed interest in flexible sensor technologies for military applications and has pledged to fund the development of the requisite research infrastructure. Several states that are on the front edge of innovation in the United States have designated research centres for flexible sensors. Through numerous institutional channels in the civilian, defence, and dual-use realms, the US federal government is fostering the development of US competencies in flexible electronics. Government procurement exemplifies a potentially useful source of initial demand-pull, having played a key part in the early growth of numerous high-tech businesses in the United States.
In the United States, the market for flexible sensors is estimated to reach $2.5 billion by 2021. In the worldwide market, the country now holds a 29.87% stake.
China, the world's second-biggest economy, is projected to reach a market size of $1.7 billion in 2027, with an annual growth rate of 8.2% throughout the forecast period. Japan and Canada are two more important geographic markets, with growth forecasts of 6% and 6.1%, respectively, for the research period.
Within Europe, Germany is poised to expand at a CAGR of around 6%, while the rest of the European market is estimated to reach $1.8 billion by the conclusion of the analysis period.
Major Key Players in the Market
Fujifilm Holdings Corporation
Interlink Electronics Inc.
Peratech Holdco Limited
Thin Film Electronics ASA
GSI Technologies LLC
Synkera Technologies Inc
Notable Developments in Global Flexible Sensors Market
A group of researchers has invented an acoustic fibre that can be woven into clothes to produce a sensitive microphone, inspired by the ear. The team believes that this fabric microphone, which can detect human speech and heartbeats, might be utilised to construct new wearable sensors for long-term health monitoring.
With the debut of the Origo Steering Wheel idea in April 2020, Canatu Oy co-created a future driving experience. The innovative Origo Steering Wheel design replaces many mechanical controls in various positions with revolutionary, three-dimensional touch sensors incorporated into the steering wheel and easily controlled by thumb, resulting in a natural, smartphone-like interface.
Isorg and Sumitomo Chemical established a collaboration to develop new OPD technologies for smartphone fingerprint sensors and hybrid organic MOS image sensors in July 2019. OEMs will be able to licence Isorg's technological processes. Simultaneously, Sumitomo Chemical will produce the specialised organic semiconductor material and assist Isorg with manufacturing technology and marketing.
Chapter 1. Global Flexible Sensors Market – Scope & Methodology
1.1. Market Segmentation
1.3. Research Methodology
1.4. Primary Sources
1.5. Secondary Sources
Chapter 2. Global Flexible Sensors Market – Executive Summary
2.1. Market Size & Forecast – (2022 – 2027) ($M/$Bn)
2.2. Key Trends & Insights
2.3. COVID-19 Impact Analysis
2.3.1. Impact during 2022 - 2027
2.3.2. Impact on Supply – Demand
Chapter 3. Global Flexible Sensors Market – Competition Scenario
3.1. Market Share Analysis
3.2. Product Benchmarking
3.3. Competitive Strategy & Development Scenario
3.4. Competitive Pricing Analysis
3.5. Supplier - Distributor Analysis
Chapter 4. Global Flexible Sensors Market Entry Scenario
4.1. Case Studies – Start-up/Thriving Companies
4.2. Regulatory Scenario - By Region
4.3 Customer Analysis
4.4. Porter's Five Force Model
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Powers of Customers
4.4.3. Threat of New Entrants
4.4.4. Rivalry among Existing Players
4.4.5. Threat of Substitutes
Chapter 5. Global Flexible Sensors Market - Landscape
5.1. Value Chain Analysis – Key Stakeholders Impact Analysis
5.2. Market Drivers
5.3. Market Restraints/Challenges
5.4. Market Opportunities
Chapter 6. Global Flexible Sensors Market – By Type
6.2. Touch Sensor
6.3. Image Sensor
6.4. Temperature Sensor
6.5. Piezoresistive sensors
6.6. Piezoelectric sensors
Chapter 7. Global Flexible Sensors Market – By Application
7.1. Fitness Products
7.2. Medical Devices And Medicines
7.3. Automotive Controls
7.4. Diagnostic Tools
7.6. Gaming Gloves
7.8. Industrial Controls
7.9. Musical Instrument
7.10. Computer Peripherals
7.11. Bumper Switches
Chapter 8. Global Flexible Sensors Market – By End User
8.2. Consumer Electronics
8.3. Medical and Healthcare
8.4. Défense and Aerospace
8.5. Other End Users
Chapter 9. Global Flexible Sensors Market- By Geography & Region
9.1. North America
9.4. Rest of the World(Middle East, Africa and South America)
Chapter 10. Global Flexible Sensors Market – Company Profiles – (Overview, Product Portfolio, Financials, Developments)
10.1. Company 1
10.2. Company 2
10.3. Company 3
10.4. Company 4
10.5 Company 5
10.6. Company 6
10.7. Company 7
10.8. Company 8
10.9. Company 9
10.10. Company 10
Primary & Secondary Sources to Collect & Validate Data
Utilization of Both Top Down & Bottom Up Approach
Holistic Research Methodology
Scope & Introductory Research
In the initial stage of research, the scope for market is defined. In order to better understanding of the market, secondary focus is on different segmentations of the market. Preliminary research involves identifying key data points related to the market under consideration to estimate the market sizes to the best extent.
Based on the scope of the market and the key data points, a number of secondary sources are considered. This data collection stage consists of a team of analysts who gather data from various secondary resources, accessing proprietary databases and primary research by reaching out to key market participants and opinion leaders.
At this stage, collected data using several sources is arranged in structured format. The sources include industry participants, in-house models, key opinion leaders in the market ecosystem and databases. Historical data trends are established at this point, and compared to the current scenario. Based on the macro- and micro-factor prevailing in various geographies, proprietary data models are used to analyze key market countries. Key players in this market are listed based on their capabilities in revenue, sales, and development. The study also involves the identification of companies in the category of 'new entrants' and their potential effects on the market.
At this stage, the analyst team moves on to understand how the market has changed over the years. The total size of the market is gathered after an study of different business segments and end-users is done. An impact research is also done to see what factors will/may influence the market in the years ahead. The effect of various variables on the industry is often taken into account when forecasting market sizes.
Data verification is conducted at all research levels, however this stage is dedicated to more rigorous checking of the data points. At this stage, the estimated data is triangulated with company revenues and checked with industry experts including several senior executives and key opinion leaders in the market. The data is then summarized, and the findings are derived from the same for the report.
Quality Assurance & Report Preparation
Holistic research methodology is followed with combination of Top Down and Bottom Up approach to undertake the estimation and forecasting task in order to ensure quality of data. At this stage of the research process, a dedicated QA team checks the data and approves after several predefined checks. Each section is checked and questioned to make the report accurate and reliable. In case of discrepancy, a team of analysts reviews the issue, and the whole process is repeated again. That significantly improves the report's quality. After approval, all the parts of the report are brought together and is formatted by highly trained team thus making it ready to dispatch.