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 and Foldable Display, Rollable Display), By Substrate Material (Glass, Plastic and Others), By Panel Size (Up to 6, 6-20, 20-50, Above 50), By Application (Smartphone Display, Tablet and Notebook, Television, Wearable Display), By Region, Competition
The Global Flexible Display Market is growing rapidly due to the increasing demand for display-based consumer electronics coupled with consumer inclination towards energy-efficient and flexible devices. Flexible display is becoming the foundational technology model for the new normal in many industries. Many enterprises are adopting flexible display to modernize their manufacturing into smart products. The high usage for flexible display solutions across various industries has become one of the significant factors offering cutting edge services for thinner, lighter, better connectivity, minimizing propensity for breakage.
Additionally, the market growth is on account of the increasing adoption of smart display technologies in automotive, consumer electronics and healthcare sectors across the globe in the forecasting years. Technology has become the key enabler of excellence and businesses are gradually becoming mobile as digitalization emerges there will be a widespread in more smart display solutions which is expected to boost the global flexible display market in the forecast period.
Flexible display refers to the new and innovative spin on electronic visual displays that can be bent, folded, twisted as opposed to the conventional flat screen displays used in the various electronic devices. Flexible technology is rapidly growing due to its lighter, thinner, flexible, and rugged features. The combination allows a variety of methodologies to analyses the ambiguities in human languages including text or speech data recognition, automated summarization, disambiguation, entity and relation extraction and sentiment analysis. This drives the computer programs that translate text from one language to another and summarize vast amounts of text rapidly in real time. Due to the technology's high price tag, low-cost and low-power devices like electronic shelf labels, low-end Internet of Things devices, smart clothing, smart packaging, and other inexpensive consumer and industrial electronics are not candidates for its implementation. For these applications, flexible displays will allow product developers to utilize a display that will seamlessly follow the surface of the device.
High Demand for Smart Watches and Advanced Smartphones
The rising demand of smart watches and advanced smartphones has bolstered the demand for the flexible display market globally. The flexible displays have facilitated the introduction of curved edges which are mostly seen in recent smartwatches and advanced smartphones. Many smart watch manufacturers are seeking to extend their product portfolio by adding smart devices with flexible screens. Smart devices require smart display panels in applications such as watches and wristbands. The growing factors of smart wearables include the innovative applications coming in the market such as Extended Reality (XR) which is offering many opportunities to suppliers of OLED displays. The shock resistance, less damage, low-cost with low-power capabilities are allowing enterprises to rely more on using flexible displays as an alternative of the ordinary displays. For instance, India is the fastest growing market in smart watches with a significant 173% growth in (Jan-Mar) quarter 2022. Thus, this rising adoption has anticipated the demand for flexible display in the market.
Increasing adoption of technologies in the Automotive Sector
The automotive market has always been considered as a lucrative and sensitive in various developed countries. Enterprises in the sector have an edge for cutting-edge technologies as companies are aiming to compete in the market and are adopting many advanced technologies. Automobile companies are focusing on the integration of flexible displays in vehicle interiors enabling the interior aesthetics of the vehicle. A much larger proportion of the car's interior surfaces is expected to become interactive over the next few years, and the surface area devoted to displays in vehicle interiors is rapidly increasing. Curved displays can be used as 'digital' side-view mirrors (in conjunction with cameras), thereby increasing safety by widening the field of view as compared to external side-view mirrors. Moreover, growing autonomous trends in vehicles and rising middle-class income with smart devices integrating in automobiles are increasing the growth of flexible display market.
Growing Innovations in Consumer Electronics in the Industry
The rapid expansion and adoption of connected and innovative solutions across the consumer electronics sector are the growing trends of smart homes, smart infrastructure, smart buildings, and smart devices with increasing demand for connected technologies. The incorporation of smart sensors into residential devices has massively increased the replacement of new consumer electronics. As the use of displays to control and communicate with the device is growing significantly, many enterprises are implementing flexible displays into their research and development for innovative products in the consumer electronics industry. Additionally, applications particularly in popular home assistant devices are increasing getting popular such as smart panels, smart speakers, smart bladeless fans, smart switches, and smart screens allowing enterprises for partnerships to adapt more advanced technologies to boost the capabilities. Thus, the rapid growing innovation in smart consumer electronics products propelling the demand of flexible display market in the forecast period.
Market Segmentation
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, E-Paper Display (EPD), OLED, 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, and above 50. Based on the application, the market is categorized into smartphone display, tablet and notebook, Television and Wearable display.
Market Player
Major market players in the global flexible display market are Samsung Electronics Co. Ltd, Applied Materials, 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.
Report Scope:
In this report, the global flexible display market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- Flexible Display Market, By Technology
- LED
- OLED
- E-Paper Display (EPD)
- Quantum Dots
- Flexible Display Market, By Type
- Curved Display
- Bendable
- Foldable Display
- Rollable Display
- Flexible Display Market, By Substrate Material
- Glass
- Plastic
- Others
- Flexible Display Market, By Panel Size
- Up to 6
- 6 - 20
- 20 - 50
- Above 50
- Flexible Display Market, By Application
- Smartphone
- Tablet and Notebook
- Television
- Wearable Display
- Flexible Display Market, By Region:
- North America
- United States
- Canada
- Mexico
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Singapore
- Europe
- United Kingdom
- Germany
- France
- Italy
- Spain
- South America
- Brazil
- Argentina
- Colombia
- Middle East
- UAE
- Saudi Arabia
- South Africa
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the global flexible display market.
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