The enhancement in the product portfolio & technological advancements will provide lucrative market opportunities for the global flexible display market.
Newark, Aug. 08, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global flexible display market is expected to grow from USD 11.54 billion in 2021 to USD 88.04 billion by 2030, at a CAGR of 25.33% during the forecast period 2022-2030.
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With new companies with better smartphones and improved features, each player's market share in the highly segmented smartphone market is dwindling. Because of the accelerated pace of innovation, the product life cycle of smartphones is also shortening, allowing market players to release improved versions of smartphones within months. Industry participants are investing resources in research and development of improved technologies that can improve their products to retain and extend their consumer base in the smartphone market. Flexible display technology is an example of an energy-efficient and attractive technology, as well as lightweight, resilient, bendable, and rugged. Flexible displays allow manufacturers to create a wide range of electronic products previously impossible to achieve with rigid flat-screen technology. The global market will be driven by the growing use of flexible displays in smartphones. The ever-increasing need for wearable smart devices to track a person's health would give market players significant opportunities to adopt flexible display technology in the wearable devices category. Manufacturers have been able to explore new areas for applying flexible displays due to technological improvements. Flexible display technology's thin, foldable, and rollable nature has allowed them to develop new products in various forms and sizes, and expand their product portfolio. Expanding the product range will open up significant market opportunities for the worldwide flexible display industry. The expensive nature of flexible technology will restrict the growth of the market. The increased risk of malfunctioning flexible devices when exposed to moisture and extreme temperatures will challenge the market's growth. Technological advancements and increased production to achieve economies of scale can aid market players in overcoming these challenges.
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To enhance their market position in the global flexible display, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
BOE demonstrated the new display technology in February 2021 with a prototype phone that folds inwards like a clamshell for storage. It may also be used as a tablet compared to the Samsung Galaxy Z Fold and Huawei Mate X series when unfurled. l.
Market Growth & Trends
The increased demand for smart appliances with touchscreen functionalities will drive the flexible display market. Flexible display electronics' portability, agility, and aesthetic characteristics contribute to their growing appeal. Consumers' growing willingness to spend on high-end flexible display devices is due to their increasing disposable income. The global flexible display market is also driven by technological developments using better light-emitting technologies that enable streaming partners to give excellent picture quality while displaying their content on such devices. The integration of augmented reality and rising digitization in the smart connected devices market has increased the energy efficiency of these products and thereby has contributed to their rising demand in the market. Technological advancements have paved the way for using flexible display technology in big television and laptop screens, expanding the market opportunities for the industry players.
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• In 2021, the smartphones segment dominated the market with the largest market share of 44% and market revenue of 5.07 billion.
The application segment is divided into a smartwatch, tv, automotive & transportation, smartphone, e-reader, smart home appliances, laptops, & others. In 2021, the smartphones segment dominated the market with the largest market share of 44% and market revenue of 5.07 billion.
• The OLED display segment is expected to grow at the fastest CAGR of 32.91% over the forecast period.
The technology segment is divided into OLED display, LED display, E-Paper display, LCD display, EPD display, & Others. Over the forecast period, the OLED display segment is expected to grow at the fastest CAGR of 32.91%.
• In 2021, the plastic segment accounted for the largest share of the market, with 65% and market revenue of 7.50 billion.
The substrate material type segment is divided into plastic, glass, and others. In 2021, the plastic segment accounted for the largest share of the market, with 65% and market revenue of 7.50 billion.
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Regional Segment Analysis of the Flexible Display
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, 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)
The Asia Pacific region emerged as the largest market for global flexible display, with a market share of around 36.45% and 4.20 billion of the market revenue in 2021. The Asia Pacific is expected to grow at the fastest CAGR forecast period. The flexible display market in the Asia Pacific has been expanding rapidly. The growing population of India and China are contributing to the increasing consumer demand for lightweight and flexible electronic devices. Also, China, South Korea, Singapore, and Japan are leading innovators in flexible display electronics. The presence of significant private market players in the region contributes to the growing innovation in the flexible display market. It is one of the major reasons for the region's dominance.
Key players operating in the flexible global display are:
• Samsung Electronics Co. Ltd.
• BOE Technology Group Co. Ltd.
• Microtips Technology
• LG Display Co. Ltd.
• ROYOLE Corporation
• AU Optronics Corporation
• Innolux Corporation
• Corning Incorporated
• Japan Display Inc.
• Philips Electronics
This study forecasts global, regional, and country revenue from 2019 to 2030. The Brainy Insights has segmented the global flexible display based on the below-mentioned segments:
Global Flexible Display Market by Application:
• Automotive & Transportation
• Smart Home Appliances
Global Flexible Display Market by Technology:
• OLED Display
• LED Display
• E-Paper Display
• LCD Display
• EPD Display
Global Flexible Display Market by Substrate Material Type:
About the report:
The global flexible display are analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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