LONDON--(BUSINESS WIRE)--The global chip-on-flex (COF) market is expected to grow at a CAGR of more than 4% during the forecast period, according to Technavio’s latest market research.
In this market research report, Technavio covers the market outlook and growth prospects of the global COF market for 2017-2021. The market is further categorized into single-sided COF and others, of which the single-sided COF segment dominated the market with more than 94% of the overall market share in 2016.
“COF technology is used in applications such as flexible displays. Flexible displays are used in devices such as smartphones, e-paper, tablets, and consumer electronics. Several players in the market are working toward the development of flexible displays to enhance attributes such as weight, flexibility, display resolution, and battery life. Another key application area of COF technology is printed batteries which are expected to witness high demand during the forecast period,” says Sunil Kumar Singh, a lead embedded systems research expert from Technavio.
Technavio’s research analysts segment the global COF market into the following regions:
- APAC
- Americas
- EMEA
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APAC: high demand for display devices from China and India to boost growth
APAC is a hub for TV, smartphone, tablet, and wearable device manufacturers. Most of these manufacturers are based in Japan, South Korea, Taiwan, and China. Samsung and LG are the major vendors in the market and have introduced curved panel smartphones. China is emerging as a leading hub for large area display manufacturers. This is mainly attributed to the availability of abundant resources, proximity to customer locations, increased demand in the domestic market, and availability of low-cost labor in the country. With an increase in the demand for display devices from China and India, the demand for flexible displays will increase significantly during the forecast period.
“China is the leading manufacturer of thin flexible batteries, which include printed batteries as well. APAC provides high growth opportunities because of the lack of penetration level in this region. The population of this region is high, the disposable income in this region is increasing, and there is an increasing trend of adoption of latest technologies,” says Sunil.
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Americas: growth of flexible displays in this region to fuel demand
There are a few companies in the Americas that develop flexible display devices. Some of the customers for flexible displays are educational institutions involved in the development of conceptual devices. There are also companies in the region that design and develop flexible smartwatches and e-readers.
The US is the leading place for manufacturing flexible electronics and most of the revenue in the Americas comes from the US. In addition, the Americas, especially the US, is an early adopter of technology. The growth of flexible displays in this region will be driven by the increasing adoption of smartwatches, RFID tags, micro sensors, fitness bands, cosmetic and medical patches, and implants that use flexible displays, thereby leading to the growth of COF market in the Americas.
EMEA: high consumption of LED-based lighting system to sustain the market
The contribution from this region is the least because of the limited presence of electronic device manufacturers in this region. The major growth in EMEA comes from countries like the UK, Germany, France, South Africa and Italy due to the early adoption of electronic devices such as smartwatches and wearable fitness devices and medical implants in these countries.
Many OEMs have been shifting their production facilities from Europe to APAC because of cheaper resources, such as low-cost labor. However, the presence of several leading automobile manufacturers and high consumption of LED-based lighting system will sustain the market. These LEDs provide more brightness in comparison to 2D LEDs at same electricity consumption. However, reducing manufacturing cost in countries in APAC will result in a declining market in EMEA in the forecast period.
The top vendors in the global COF market as highlighted in this market research analysis are:
- FLEXCEED Co., Ltd.
- Finetech
- SHENZHEN DANBOND TECHNOLOGY CO., LTD.
- AKM Industrial
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