Flexible Display Market Growth had led by increasing investment in developing better display technology by 2028.
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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