The high demand for smart watches and advanced smartphones is expected to drive the Global Flexible Display Market in the forecast period of 2024-2028.
According to TechSci Research report, “Flexible Display Market – Global Industry Size, Share, Trends, Opportunity, and Forecast. 2018–2028, the global flexible display market is anticipated to register a robust growth during the forecast period, 2024-2028 The Global Flexible Display market is driving on account of increasing use of smart devices in the industry with increasing adoption of low-cost, flexible and long-lasting displays in their products specifications by various organization. The increasing use of IoT capable smart watches, smartphones, smart cities, and smart electronics proliferated with increasing adoption of affordable and robust solution technologies in the automotive industry through smart displays and touchscreens is further affecting the growth of flexible display market. Furthermore, flexible display assists organizations in enhancing their device due to their connecting capabilities. The growing need for digital signage systems and the growing demand for better large area printed flexible electronic display along with shifting consumer preferences from traditional displays to advance displays are the key driving factors leading to growth of the flexible display market.
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The flexible display market is segmented based on technology, type, substrate material, panel size, application, and region. Based on technology, the market is bifurcated into LED, OLED, E-Paper display (EPD), and Quantum Dots. Based on type, the market is segmented into curved display, bendable and foldable display, and rollable display. Based on substrate material, the market is categorized into glass, plastic and others. Based on panel size, the market is segmented into Up to 6, 6-20, 20-50, above 50. Based on the application, the market is categorized into smartphone display, tablet and notebook, television and wearable display.
Based on Technology, the OLED segment is expected to dominate the flexible display market in the forecast period as the growth is attributed to the gaining popularity of high flexibility and energy efficiency characteristics of OLED displays. The high flexibility properties can bear a great amount of shock which makes it more durable and compatible in many devices which enables the lifespan of the displays and screens. Furthermore, the premium visual experience which is provided by the OLED display with the help of wider color ranges, good contrast, higher brightness, low power consumption, premium image quality, durability, and fuller viewing angle are enabling many enterprises to rapidly rely and shifting their preferences more on OLED flexible displays.
Based on substrate material segment, plastic segment is expected to dominate the Global Flexible Display Market due to the material’s superior flexibility and tendency to resist breakage with low-cost, thin-property, light property, high-durability, and flexibility which has enabled the lifespan of the flexible display-based devices. As glass displays are expensive hence plastic flexible displays are the recent advancement in the display portfolio, that enables more enterprises to shift their consumer preference towards plastic screens and displays. Furthermore, the rising demand for easy to maintain retail display in the retail sectors for advertisement and promotions plays a significant role in the plastic segment services, enabling the adoption of more flexible display solutions in the market.
Based on application, smartphone segment dominates the largest share in the overall flexible display market and is expected to remain dominant in the forecast period as the increasing internet penetration has increased the adoption of smartphone devices as consumers look forward to experiencing the advanced features offered on the phones with seamless data connectivity. The lightweight, thin, durable, and bendable features of flexible displays enabling the enterprises to introduce flexible screens as a new feature in their products such as Samsung Foldable Galaxy, Motorola Razr, Oppo Find N, Xiaomi Mi MIX Fold, Royole Flexpai 2. Moreover, the increasing disposable income of the consumer, combined with the growing number of market players and competition offering smartphones at competitive prices will significantly contribute to the growth of flexible display market during the forecast period.
Key market players in the flexible display market:
- Samsung Electronics Co. Ltd
- Applied Material Inc.
- LG Display Co. Ltd.
- Semiconductor Energy Laboratory Co. Ltd.
- BOE Technology Group Co.
- Royole Corporation
- C3 Nano
- Tianma Microelectronics Co.
- Visionox Technologies, Inc.
- Altenergy Power System, Inc.
Recent Developments:
- On January 03, 2023, Samsung Corporation has unveiled its latest OLED technology, Flex Hybrid at the Consumer Electronics Show (CES) 2023 held in Las Vegas, United States. The Company has aimed to design flex hybrid OLED panels for the use in futuristics devices such as smartphones, laptops and tablets and boasts the capability to fold and slide.
- On December 26, 2022: BOE an industry-leading flexible OLED technical solution for the RedMagic 8 Pro lineup announced the release of released the RedMagic 8 Pro gaming smartphone, the next phase of strategic collaboration which is equipped with a 6.8-inch flexible OLED full-screen display. The product empowers the smartphone to deliver an extraordinary gaming experience, ushering in a new era of all-screen phones and fully demonstrating BOE’s remarkable strengths in leading the future of esports displays.
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“Asia Pacific is estimated to hold the largest market share in the flexible display market owing to the massive demand of consumers regarding the durability of the devices in the region. However, North America has experienced significant growth for the flexible display market throughout the forecast period. This is due to the presence of many established companies as well as the increasing number of smart phone users together with the implementation of advanced technologies like Augmented Reality and 3D Display. Additionally, it is anticipated that the market for smart devices would rise as the technology penetration and use of connected technologies for security, entertainment, lighting and energy management, and HVAC are increasingly adopted. High-speed networks like 5G services and the use of digitization in manufacturing, consumer electronics, automotives, and healthcare are anticipated to fuel market expansion in Asia Pacific.” said, Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Flexible Display Market – Global Industry Size, Share, Trends, Opportunity, and Forecast. 2018–2028 Segmented By Technology (LED, OLED, E-Paper Display (EPD), and Quantum Dots), By Type (Curved Display, Bendable, Foldable Display and Rollable Display), By Substrate Material (Glass, Plastic and Others), By Panel Size (Up to 6, 6-20, 20-50 and Above 50), By Application (Smartphone Display, Tablet and Notebook, Television, Wearable Display), By Region, Competition, Forecast & Opportunities” has evaluated the future growth potential of global flexible display market and provides statistics & information on market size, structure, and future market growth. The report intends to provide innovative market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the flexible display market.
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