DEHRADUN, UTTARAKHAND, INDIA -- Sales of flex circuits are expected to increase to $27.6 billion in 2023 from $13.5 billion in 2016, a CAGR of 10.7%.

Driving demand are smartphones and handheld devices, growing popularity of Internet of Things (IoT) devices, and higher flex content in various industries such as consumer electronics, automotive, telecommunications, healthcare, defense and aerospace. Consumer electronics was the largest segment in 2016, although automotive is anticipated to be the fastest-growing over the forecast period.

The findings come from Energias Market Research, an India-based research firm.

Geographically, Asia-Pacific region held the largest share of the global flexible printed circuit board market in 2016. Asia-Pacific region is expected to hold the major share of the flexible printed circuit board market during the forecast period. Latin America and MEA (Middle East and Africa) are the key emerging regions in the global flex market.