According to the report, the Chip on Flex (COF) market is expected to grow from USD 1,636 million in 2019 to USD 2,213 million by 2026, growing at a CAGR of 4.41% from 2019 to 2026.
Market Overview
The global Chip on Flex (COF) market is estimated to be USD 1,636 million in 2019 and is expected to reach USD 2,213 million by 2026, with a CAGR of 4.41% during the forecast period.
The major driver factor is the rising need for flexible electronics in different applications such as sensors, displays, radio frequency identification and biomedical implants. Furthermore, increasing investment in research & development sector to progress in displays or screens to have better quality, more durability and cost-efficient are some of the crucial factors that promote the growth of Chip on Flex (COF) market. Besides, some important features of chip-on-flex which include component assembly, heat sinks, penalization, over molding, shielding, and gravity overlay have made the product be more attractive, which would help to drive the Chip on Flex (COF) market.
Chip-on-Flex refers to the semiconductor assembly technology wherein the microchip or die is directly mounted on and electrically connected to a flexible circuit which is a circuit built on a flexible substrate instead of the printed circuit board.
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Competitive Insights
Key players operating in this market include LGIT, Stemco, Flexceed, Chipbond Technology, CWE, Danbond Technology, AKM Industrial, Compass Technology Company, Compunetics, and STARS Microelectronics.
Regional Insights
North America dominates the Chip on Flex (COF) market with a share of 32.07% because of the Americas, especially the US is an early adopter of technology. Furthermore, the growth of flexible displays in this region will be driven by the increasing adoption of smartwatches, RFID tags, microsensors, fitness bands, cosmetic and medical patches, and implants that use flexible displays, thereby leading to the growth of COF market in the Americas. The Asia Pacific is currently leading Europe with a share of 30.12% and 28.97%. 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. The increased adoption of new technologies especially in the automobile sector is another key factor that driving the market growth in the Asia Pacific region.
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Based on the type, the Chip on Flex (COF) market can be segmented into Single sided COF and Others.
Single sided COF segment is the largest segment among type classifications. Single sided chip-on-flex has numerous benefits which include stronger signal quality, reduced wiring errors, design flexibility, and stronger signal quality. The wide use of single-sided COF in various applications including industrial, automotive and aerospace sectors makes the market more demanding.
Application Insights
Based on application, the Chip on Flex (COF) market is bifurcated into Electronics, Aerospace, Medical, Military, and Others.
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Audience
l Chip on Flex (COF) manufacturers
l Distributors and resellers of Chip on Flex (COF)
l Chip on Flex (COF) industry associations
l Product managers, Chip on Flex (COF) industry administrator, C-level executives of the industries
l Market Research and consulting firms
l Small and Medium-sized Enterprises (SMEs)
l Raw material suppliers of Chip on Flex (COF)
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