January 22, 2020 by Market-NewsFlash
Chip-on-flex denotes the semiconductor assembly technology wherein the flexible circuit is directly mounted with a microchip and connected electrically. This circuit is built on a flexible substrate instead of the conventional circuit board. Shorter interconnection paths on chip on flex aid in simplifying the process of designing and manufacturing while improving the performance of the product. Chip on flex has some vital features such as penalization, shielding, component assembly, over molding, heat sinks and graphic overlay, making it acceptable across various sectors such as the electronic industry, aerospace, as well as, defense.
Significant growth in investments made in the research and development activities for the manufacture of advanced flexible displays is deemed to drive the chip-on-flex market substantially. Small flexible electronics can be used in various devices such as biomedical implants, displays, sensors, lighting, as well as radio frequency identification. In consequence to the wide array of uses, flexible electronics are encountering skyrocketed demand, hence, contributing significantly to the chip-on-flex market growth. Increased accuracy rate and reduced operational costs are some of the factors further attributing to the rapid growth in the chip on flex market. According to the latest report published by Market Research Future, the market is expected to garner a decent CAGR of 4.43% during the review period.
The chip-on-flex market has been segmented on the basis of types, application, and vertical. By type, the report provides detailed analysis on one sided chip on flex. Single sided chip-on-flex held 94% of the market share in 2016 and is expected to do the same throughout the review period. By application, the chip on flex market has been bifurcated into static and dynamic flexing. The segment of dynamic flexing is estimated to hold the largest chip-on-flex market share during the forecast period. On the basis of vertical, the market has been segmented into military, medical implants, aerospace, and electronics.
Detailed Regional Analysis
The chip-on-flex market has been regionally segmented into North America, Asia Pacific (APAC), Europe, and Rest of the World (RoW). Asia Pacific is estimated to register the highest market growth during the forecast period. Such growth is attributable to a large number of chip manufacturers in China such as Danbond Technology, AKM Industrial, and Compass Technology Company. Major contribution is also deemed from Taiwan owing to a strong bureaucratic system and its economic structure. Rapid adoption of new technologies, especially in the automobile sector are contributing to major growth in North America. Furthermore, Europe is expected to project a staggering growth rate due to a rise in demand in the automobile sector and a primary focus on high quality chip-on-flex components by manufacturers in the region.
The chip-on-flex market seems to be in its initial stages of growth and therefore, the vendors in the industry are expected to focus on product innovation and application of other technological advancements for the same, in order to gain higher competitive advantage over their peers. However, there are some factors that are posing as a hinderance in the growth of the global chip-on-flex market. Such factors include changing consumer needs, and the increasing cost of raw materials.
Some of the prominent players in the market of chip on flex market that are profiled by MRFR in their latest report include LGIT corporation (U.S.), Stemko group (Korea), Flexceed(Japan) , Chipbond technology corporation(Taiwan), CWE(Taiwan), Danbond technology Co. Ltd.(China), AKM Industrial Company Ltd.(China), Compass Technology Company Limited(Hong Kong), Compunetics(U.S.), and Stars Microelectronics Public Company Ltd. (Thailand).
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