The Flexible Display Market is reaching USD 121 billion by 2031, With a CAGR of 34.2% and the Value of the market was USD 11.5 Billion in 2023, this Growth Driven by use in wearables, and other innovative applications.
Growing Demand for Flexible Displays Across Industries
The flexible display market is experiencing a boom due to its growing applications in various sectors. The Leading manufacturers are increasingly incorporating flexible displays into their flagship devices, offering consumers improved portability, enhanced viewing angles, and unique functionalities. For instance, Nubia’s recent launch of a smartwatch with a flexible AMOLED screen exemplifies this trend. the market is witnessing growth in the integration of flexible displays with other technologies such as flexible batteries. This convergence is paving the way for advancements in wearable electronics and smart cards. The Increasing use of flexible displays in aerospace, transportation, media, and even medical display systems is fostering market expansion.
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Top Companies Featured in Flexible Display Market Report:
- LG Display Co. Ltd. (South Korea)
- Samsung Electronics (South Korea)
- Innolux Corp. (Taiwan)
- AU Optronics (Taiwan)
- Japan Display Inc. (Japan)
- BOE Technology Group Co. Ltd. (China)
- Sharp Corp. (Japan)
- Visionox Corporation (China)
- E Ink Holdings Inc. (Taiwan)
- Corning Incorporated (US)
- |. du Pont de Nemours and Company (US)
- FlexEnable Limited (UK)
- Kateeva (US)
- Cambrios Technologies Corp. (US)
- Royole Corporation (US)
Recent Developments in the Flexible Display Market
- February 2022: BOE unveiled its novel OLED flexible “N” shaped foldable display technology, capable of internal and external folding.
- January 2022: Royole Corporation, a prominent flexible display manufacturer, formed a strategic partnership with CIOT, a leading robotics company, to integrate flexible display technology into their robotics solutions.
- December 2021: LG Display launched its cutting-edge OLED EX display technology, incorporating deuterium and a personalized algorithm for enhanced performance.
- April 2022: Samsung introduced its stunning Neo QLED 8K and Neo QLED TV range, boasting superior picture quality and immersive soundscapes.
Advantages of Flexible Displays Propelling Market Growth
Flexible displays offer advantages over traditional displays. They are lightweight, bendable, shatter-proof, and offer superior portability. These features are particularly attractive for mobile devices and wearable technology. they boast low energy consumption, making them ideal for battery-powered devices. While curved displays offer improved viewing angles, flexible displays go a step further, allowing for folding and unfolding, creating entirely new form factors for electronic devices.
Perhaps the most significant advantage of flexible displays is their enhanced durability. Their ability to absorb impact better than conventional glass displays makes them ideal for devices prone to accidental drops. Looking ahead, the potential integration of flexible displays into clothing, capable of changing color or pattern based on surroundings, presents a future brimming with exciting possibilities.
Flexible Display Industry Segmentation as Follows:
By Panel Size
- Up to 6″
- 6-20″
- 20-50″
- Above 50″
By Substrate Material
- Glass
- Plastic
- Others
by substrate material, the plastic segment dominates the market, expected to maintain its lead throughout the forecast period. This dominance is attributed to the superior features offered by plastic, including size flexibility, robustness, and lighter weight compared to glass substrates. the growing demand for cost-effective solutions in the electronics industry favors plastic substrates. However, glass substrates offer superior resistance to water vapor and other environmental factors, prompting ongoing research to develop more durable glass substrates for flexible display applications.
By Application
- Smartphone & Tablet
- Smartwatches & Wearables
- Television & Digital Signage Systems
- PC Monitors & Laptops
- E-reader
- Electronic Shelf Labels (ESLS)
- Vehicles & Public Transports
- Smart Home Appliances
by application, the vehicles and public transport segment is poised for the fastest growth during the forecast period. Flexible displays are finding increasing applications in vehicles, ranging from small dashboard displays to large central control units and entertainment systems. These displays enhance the driver experience by providing crucial information and intuitive controls. Public transportation systems are also adopting flexible displays for passenger information and advertising purposes.
By Technology
- OLED Display
- E-paper Display
- Quantum dot LED Display
- LED-Backlit LCD
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Impact of Global Events
The Russia-Ukraine war has cast a shadow on the global economy, with potential implications for the flexible display market. The fluctuations in raw material prices and a slowdown in consumer spending could hinder market growth. the long-term impact remains to be seen, and the market’s inherent growth potential could mitigate these challenges.
Economic slowdowns can also create challenges for the market. Reduced consumer spending power might lead to a decline in demand for high-end electronic devices equipped with flexible displays. the market is expected to adapt by focusing on mid-range devices and exploring cost-effective manufacturing solutions.
Key Regional Developments
North America, a hub for technological advancements, currently leads the global flexible display market. The well-established US economy fosters a large and affluent consumer base willing to adopt cutting-edge technologies like flexible displays. North American companies such as Amazon with its Kindle e-reader were early adopters of flexible display technology, contributing to its growth in the region. North America is a hub for research and development in display technologies, with companies such as Samsung and LG Display investing heavily in this space.
The Asia-Pacific region is rapidly emerging because Countries Such as China, South Korea, and Taiwan house major display manufacturing foundries, giving them a significant advantage in production capacity and cost efficiency. The Asia-Pacific region is a major consumer and producer of consumer electronics, creating a strong domestic market for flexible displays. Governments in several Asian countries are actively supporting the development of the flexible display industry through funding and policy initiatives.
Key takeaways
- The global flexible display market is poised for significant growth fueled by the increasing demand for foldable devices, wearables, and other innovative applications.
- By understanding the key drivers and emerging applications of flexible displays, companies can capitalize on new market segments and product development initiatives.
- The report sheds light on potential disruptions caused by geopolitical and economic factors, allowing businesses to develop proactive strategies to mitigate risks and ensure continuity.
- By analyzing regional trends and the evolving competitive landscape, companies can make informed decisions regarding market entry, strategic partnerships, and resource allocation.
Table of Content – Key Points Analysis
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Flexible Display Market Segmentation, By Panel Size
9. Flexible Display Market Segmentation, By Substrate Material
10. Flexible Display Market Segmentation, By Technology
11. Flexible Display Market Segmentation, By Application
12. Regional Analysis
13. Company Profile
14. Competitive Landscape
15. USE Cases and Best Practices
16. Conclusion
Continued….
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