The new chip-on-flex (COF) market research from Technavio indicates Negative growth in the short term as the business impact of COVID-19 spreads.
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Technavio has announced its latest market research report titled Global Chip-On-Flex (COF) Market 2020-2024 (Graphic: Business Wire)
Get detailed insights on the COVID-19 pandemic Crisis and Recovery analysis of the chip-on-flex (COF) market.
“One of the primary growth drivers for this market is the increasing R&D investments in the Flexible Displays market,” says a senior analyst for the Industrials industry at Technavio.
The increasing R&D investments in the flexible displays market is a major factor that will drive chip-on-flex market growth. There is rising investment in the R&D of hardware devices to develop screens or displays that are more durable, have better quality, and cost-efficient. With the companies in the flexible device market concentrating on developing advanced flexible display devices and on commercializing them, such investments will increase in the coming years. Additionally, companies are also concentrating on entering into partnerships with universities to develop innovative flexible displays. This rising focus of companies to develop advanced displays will subsequently drive the growth of the COF market.
As the markets recover Technavio expects the chip-on-flex (COF) market size to grow by USD 279.90 million during the period 2020-2024.
Chip-On-Flex (COF) Market Segment Highlights for 2020
- The chip-on-flex (COF) market is expected to post a year-over-year growth rate of 1.59%.
- Single-sided COF technology helps reduce wiring errors, has higher circuit density, stronger signal quality, has immense design flexibility, and has a more robust temperature range.
- The single-sided COF is used in dynamic flexing applications, unusual forming, and folding applications. It is generally used in cases where there is a limitation on thickness or space.
- Market growth in this segment will be faster than the growth of the market in the others segment.
- 72% of the growth will originate from the APAC region.
- The increasing demand for flexible displays will significantly drive COF market growth in this region over the forecast period.
- Taiwan, South Korea (Republic of Korea), Japan, and China are the key markets for chip-on-flex in APAC. Market growth in this region will be faster than the growth of the market in Europe, MEA, and North America.
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- The chip-on-flex (COF) market size is expected to accelerate at a CAGR of over 3% during the forecast period.
- The chip-on-flex (COF) market is segmented by Type (Single-sided COF and Others) and Geography (APAC, North America, Europe, South America, and MEA).
- The market is concentrated due to the presence of few established vendors holding significant market share.
- The research report offers information on several market vendors, including Compass Technology Co. Ltd., Compunetics Inc., Finetech GmbH & Co. KG, Flex Ltd., FLEXCEED Co. Ltd. , Guangdong Xinbang Information Technology Co. Ltd., LG Innotek, Promex Industries Inc., Shenzhen Danbond Technology Co. Ltd., and Stars Microelectronics (Thailand) PCL
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