New York, United States, March 14, 2024 (GLOBE NEWSWIRE) -- The Global Flexible Display Market Size is to Grow from USD 16.11 Billion in 2023 to USD 296.14 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 33.8% during the projected period.
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Flexible displays are a type of electronic display technology that can bend or flex without breaking. They have features such as lightweight, durable, and the ability to be curved or folded, making them suitable for a variety of applications such as smartphones, tablets, wearable devices, automotive displays, and signage. Flexible display manufacturing also focuses on contemporary electronics advancements such as improved matrical, organic electronics, and miniaturization. However, smartphone and tablet screens have greatly improved over the last decade, featuring flexible displays. Flexible displays are one of the most essential innovations, with huge potential to disrupt the industry. Even though several firms have been researching the technology for over a decade, it is still relatively new. Furthermore, increasing consumer demand for larger screens, better resolutions, and immersive multimedia experiences is driving the development of flexible displays in smartphones, tablets, and other portable devices. Flexible displays allow manufacturers to design gadgets with bigger panels that are nonetheless small and foldable for simple transportation. In addition to consumer electronics, the automobile sector is increasingly using flexible displays in car interiors for infotainment systems, instrument clusters, and heads-up displays. The usage of flexible displays in automobile applications improves the driver experience, safety, and appearance. However, the high production costs associated with flexible display technologies are still an important challenge. The complicated production procedures, specialized materials, and poor yield rates all contribute to higher manufacturing costs, restricting the affordability and widespread adoption of flexible display devices. Furthermore, technological restrictions such as less fortunate resolution, lower brightness, and shorter lifespan compared to typical rigid displays impede the widespread use of flexible displays in a variety of applications.
Browse key industry insights spread across 200 pages with 115 Market data tables and figures & charts from the report on the "Global Flexible Display Market Size, Share, And Covid-19 Impact Analysis, By Display Type (OLED, LCD, EPD, Other Display Types), By Substrate Material (Glass, Plastic, Other Substrate Materials), By Application (Smartphones and Tablets, Smart Wearables, Televisions and Digital Signage, Personal Computers and Laptops, Other Applications), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, And Africa), Analysis and Forecast 2023 – 2033."
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The OLED segment is projected to hold the biggest share of the global flexible display market during the forecast period.
Based on the display, the global flexible display market is categorized into OLED, LCD, EPD, and other display types. Among these, the OLED segment is expected to hold the largest share of the flexible display market during the forecast period. In the global flexible display market, the OLED (Organic Light-Emitting Diode) display type holds the largest share due to its superior features such as high contrast ratio, wide viewing angles, and energy efficiency. OLED displays lead the global flexible display market due to their superior image quality, energy efficiency, and flexibility.
The plastic segment stands to hold the biggest share of the global flexible display market during the anticipated period.
Based on the substrate material, the global flexible display market is categorized into glass, plastic, and other substrate materials. Among these, the plastic segment is expected to hold the largest share of the flexible display market during the forecast period. The substrate material segment, particularly plastic, holds the largest share in the global flexible display market due to its inherent advantages such as flexibility, lightweight nature, and cost-effectiveness. Plastic substrates offer superior durability and bendability, making them ideal for various applications including smartphones, wearable devices, and automotive displays. Additionally, advancements in plastic substrate technology have improved display performance, further driving their adoption in the market.
The smartphones and tablets segment dominates the global flexible display market during the forecast period.
Based on the application, the global flexible display market is divided into smartphones and tablets, smart wearables, televisions and digital signage, personal computers and laptops, and other applications. Among these, the smartphones and tablets segment is expected to hold the largest share of the flexible display market during the forecast period. smartphones and tablets sector growth due to the widespread adoption of these devices worldwide. As consumers increasingly demand sleeker, more immersive displays, manufacturers prioritize integrating flexible display technology into smartphones and tablets, driving significant growth in this application segment.
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Asia Pacific dominates the market with the largest market share over the forecast period.
The Asia-Pacific region has experienced the most rapid growth in the globally flexible display market. This expansion may be ascribed to a variety of causes, including the presence of important manufacturers and suppliers of flexible display technology in South Korea, Japan, and China. Furthermore, the region's growing economies are rapidly adopting smartphones, tablets, wearables, and other electronic gadgets with flexible displays, which is fueling market growth. In North America, the flexible display industry is expanding rapidly in the United States. This expansion is being driven by several causes, including the strong presence of major technological businesses, investment in R&D, and rising consumer demand for novel display solutions. Furthermore, the use of flexible displays in a variety of applications, including smartphones, tablets, laptops, automotive displays, and wearable devices, is driving market growth.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global flexible display market are SAMSUNG Display, FlexEnable Limited, LG Display, Panasonic Corporation, Royole Corporation, Sony Corporation, Universal Display, Microchip Technology, Delta Electronics, and Others.
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Recent Market Developments
In July 2023, The Korea Advanced Institute of Science and Technology (KAIST), developed the washable, transparent, and flexible OLED with MXene nanotechnology.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global flexible display market based on the below-mentioned segments:
Global Flexible Display Market, By Display Type
- OLED
- LCD
- EPD
- Other Display Types
Global Flexible Display Market, By Substrate Material
- Glass
- Plastic
- Other Substrate Materials
Global Flexible Display Market, By Application
- Smartphones and Tablets
- Smart Wearables
- Televisions and Digital Signage
- Personal Computers and Laptops
- Other Applications
Global Flexible Display Market, By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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