Flexible Display Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3875
Flexible Display Market size is expected to grow exponentially from 2019 to 2025 with rise in adoption of OLED technology in several electronic devices such as smartphones, smartwatches, wearables, TVs, digital signages, and electronic shelf labels. The demand for brighter, elastic, and energy-efficient displays is augmenting the flexible display market as it offers features such as being ultra-thin, lightweight, bendable, and shatter-proof. OLED displays are designed with a thin plastic layer, offering them higher flexibility and lightweight compared to LED displays. Several mobile phone companies are integrating these technologies with their design for providing product differentiation and to gain a competitive advantage in the market. For instance, Samsung’s S8, S9, and Note 8 features a flexible display, which allows them to have an infinity screen that is curved from both the sides of the phone.
The increasing adoption of consumer electronics and the flourishing smart wearable devices industry are driving the flexible display market. Device manufacturers are incorporating these displays and lighting panels to offer flexibility, lightweight structure, durability, and bendability in their devices. These are majorly adopted by mobile phone displays, TV panels, wearable electronics, notebook, and tablet displays. For instance, Samsung Display offers a flexible and unbreakable OLED panel with a transparent plastic cover for consumer electronics, offering a boost to the industry. The increasing demand for energy-efficient and low power consuming devices is driving the flexible display market. For instance, Apple’s iPhone X has an integrated OLED display, in which this feature can be seen, increasing the durability and performance of devices.
Technical drawbacks associated with these components are hampering the growth of the flexible display market. The materials used in these devices are found to be sensitive to air or moisture as OLEDs use chemically reactive electrodes, which degrades the layer when they are found to be in contact with moisture. To overcome these challenges, a thin film encapsulation is deposited in the OLED panels, such as OLED, recovering devices from getting damaged and providing better & flexible image quality.
Businesses are making use of LED video walls and digital signages for advertising campaigns and promotional activities by large size banners and hoardings, creating opportunities for the flexible display market. These products are high in demand and requirements by companies are increasing for attracting a large customer base, growing the market share of their offerings. The growth of this industry will increase the need & demand for this technology in the market.
The curved display panel amounts to the high growth of industry share in the flexible display market. The high adoption of this technology in several smart devices is increasing its demand and needs. The integration of this technology has a very wide scope, such as smart wearables, smart TVs, and smartphones, growing the awareness of components and features among customers. Smartphones are predicted to account for the high industry share over the coming years in the market. The launch of smartphones with the foldable feature will be a breakthrough in the smartphone and flexible display market. The advent of the curved technology was introduced in these devices, which predicts that the foldable feature will also be integrated into smartphones. Moreover, Samsung unveiled the stretchable display with OLED technology in 2017. These innovations by major players of the smartphone industry will increase the demand and requirement of these displays in the market.
Asia Pacific is predicted to be the dominant region with a high industry share in the flexible display market. The presence of several consumer electronics manufacturers in the region and the widespread customer base is supposed to be the reason for growth. The countries including China, Japan, South Korea, and India are leading in the development of flexible displays in the region and are bringing innovations in their products. China is the prominent player producing flexible OLED screens, for instance, Chengdu factory in China produces over 70 million sheets of flexible phone screens every year. Likewise, Mianyang is expected to produce double the quantity to develop the region in manufacturing display panels, enhancing the demand for the flexible display market over the forecast period. The competition among players in this sector is increasing rapidly with the growth of integration of these components with electronic devices, fueling the market.
The key players operating in the flexible display market are LG Display Co., Ltd., Sharp Corporation, Japan Display, Inc BOE Technology Group Co., Ltd Samsung Display Co. Ltd, Panasonic Corporation, Samsung Electronics Co. Ltd., Atmel Corporation Universal Display Corporation, Koninklijke Philips N.V., and LG Display. These players are competing based on customer requirements and demand for new trends and technological advancements that will make their life sophisticated and easier. The players are targeting the widespread consumer electronics sector for integrating their offerings into these devices. Several strategies adopted by these players in the market are new product development and product differentiation to cater to the wide customer base.
The flexible display market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2015 to 2025 for the following segments:
Flexible Display Market by Display Technology
- Quantum dots
Flexible Display Market by Application
- Wearable devices
- Digital signage
- Electronic shelf label
The above information has been provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa (MEA)
- Saudi Arabia
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