MAHARASHTRA, India – The chip on flex market is expected to grow at a CAGR of approximately 4.4% from 2016 to 2021, reaching nearly $1.8 billion by the end of the forecast period, says Market Research Future.

The market is driven by a growing range of applications in the industrial, military, computer, telecommunication, consumer electronics, and medical electronics industries, says the research firm.

Geographically, Asia pacific is expected to dominate the market, owing to the presence of China, the biggest market for chip on flex. Europe will experience growth because of its automobile industries and will follow North America in terms of market share.