Newark, June 03, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the flexible display market will grow from USD 14.28 Billion in 2023 to USD 152.34 Billion by 2033. The market for flexible displays will develop in response to consumers' increasing desire for smart appliances with touchscreen capabilities. Flexible display electronics are becoming increasingly popular because of their portability, agility, and aesthetic features.
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Key Insight of the Flexible Display Market
The Asia-Pacific region will account for the largest market size during the forecast period.
The Asia-Pacific region will hold a significant market share due to the growing consumer electronics industry. The growing demand for smart electronic gadgets in Asia has led to the region's present dominance in the flexible display market. Asia Pacific's dominance in the worldwide flexible display market is mostly due to the presence of prominent end-users. The need for flexible and lightweight electronics is growing with the working-class population. Customers' rising willingness to pay for high-end flexible display devices is linked to their increasing disposable income.
The LED segment is expected to augment the market during the forecast period.
The display type segment is divided into LED, LCD, OLED, EPD and others. The LED segment is expected to augment the market during the forecast period. One bendable and extremely flexible LED display screen is the flexible LED display, also known as the soft LED display. To be highly adaptable to different installation conditions, the soft back shell allows better fit into different locations with variable angles. It has exceptional protection qualities, including strong water and dust resistance, and high-quality visual performance, including high contrast and brightness.
The glass segment is expected to augment the market during the forecast period.
The substrate material segment is divided into plastic, glass, and others. The glass segment is expected to augment the market during the forecast period. Glass substrates produce different displays. They are less flat, less prone to pattern distortion, and can tolerate higher temperatures. Furthermore, they possess the dimensional stability required for tight connection overlay between layers.
The bendable & foldable segment is expected to augment the market during the forecast period.
The product type segment is divided into bendable and foldable, curved, and rollable. The bendable and foldable segment is expected to augment the market during the forecast period. In terms of novel applications and human-machine interfaces, bendable and foldable displays are game-changers. Examples of these include curved public information displays and folding smartphones. Furthermore, flexible displays frequently use less energy than traditional displays.
The automotive segment is expected to augment the market during the forecast period.
The end-use segment is divided into smart wearable, smartphone and tablets, digital signage system & television, PCs & laptops, automotive, E-reader, smart home appliances and others. The automotive industry segment is expected to augment the market during the forecast period. For OEMs, technology developers, and producers of display panels, the advent of smart and flexible displays presents a plethora of options. The display industry is seeing a gradual increase in the importance of the automotive sector.
Report Scope and Segmentation –
| Report Coverage | Details |
| Forecast Period | 2024-2033 |
| Forecast CAGR | 26.71% |
| 2023 Value Projection | USD 14.28 Billion |
| Market Size in 2033 | USD 152.34 Billion |
| Historical Data | 2020-2022 |
| No. of Pages | 238 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered | by Display, Product Type, Substrate Material |
| Regions Covered | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Flexible Display Market Growth Drivers | Increasing application of flexible display |
Market Dynamics
Driver: Increasing demand for flexible display in automotive applications
Automakers search for cutting-edge display technologies that complement inside automobile design and provide passengers with a more private and secure space. Displays that can adapt to the non-flat surfaces of an automobile's interior are in high demand. Whether it's a curved digital side view mirror, an S-shaped centre console, or a spherical display mounted on the steering wheel, these screens should complement the overall design rather than overpower it. Flexible display solves several problems by using very low-temperature processing to create displays built of high-performance organic transistors on plastic in place of amorphous silicon on glass. Flexible OLED, incorporated into several high-end smartphones and smartwatches, is being tested by certain automakers.
Restraint: Complexity in the manufacturing process
The manufacturing process of flexible displays is complex and time-consuming. Heat must be introduced to create stress during this demanding production process. Extremely precise and powerful heat is needed to create flexible plastic materials, which can result in thermal and residual stress. This may affect the device's longevity and quality, reducing its long-term durability.
Opportunity: Increasing technological advancements
Due to their flexibility, lightweight nature, ability to be mass-produced, and affordability, flexible electronics have shown significant promise in several industries in recent years, including energy, information technology, healthcare, and the military. Stretchable and flexible display technology is a game-changer in these industries because it provides a special balance of robustness and adaptability. Due to its physical characteristics and potential to accommodate new products that require unique displays, flexible displays are an exciting advance in display technology. In the last ten years, massive research and development efforts have been made to find novel materials and structures for touch sensors in flexible displays, particularly organic light-emitting diode flexible displays.
Challenges: Incompatibility
The possibility of flexible display electronics failing or breaking is increased using organic substrate materials. The device is unusable in extremely cold temperatures because the substrate materials are incompatible. Additionally, the device is subjected to stress from rolling and folding, which could lower its efficiency. In addition, it needs a higher voltage to function than conventional devices. Therefore, market expansion may be hampered by the incompatibility of flexible displays.
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Some of the major players operating in the Flexible Display market are:
• Samsung Electronics Co. Ltd.
• Microtips Technology
• BOE Technology Group Co. Ltd.
• LG Display Co. Ltd.
• AU Optronics Corporation
• ROYOLE Corporation
• Innolux Corporation
• Japan Display Inc.
• Corning Incorporated
• Philips Electronics
Key Segments Cover in the Market:
By Display Type:
• LED
• LCD
• OLED
• EPD
• Others
By Substrate Material:
• Plastic
• Glass
• Others
By Product Type:
• Bendable & Foldable
• Curved
• Rollable
By End-use:
• Smart Wearable
• Smartphone and Tablets
• Digital Signage System & Television
• PCs & Laptops
• Automotive
• E-reader
• Smart Home Appliances
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed on value (USD Billion). All the segments have been analyzed on a global, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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