Flexible displays are thin, lightweight, and unbreakable displays that can be bent, folded or rolled up without damaging the screen and offer a greater viewing experience for users. They allow devices to be portable and foldable while maintaining high resolution and energy efficiency. Flexible displays provide several advantages over conventional LCD and LED displays such as impact resistance, durability, flexibility, and portability. They find wide applications in smartphones, tablets, notebooks, wearable devices, and others.
The global Flexible Display Market is estimated to be valued at US$ 16.14 Bn in 2023 and is expected to exhibit a CAGR of 34% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends
The key trend propelling the growth of the flexible display market is the rising demand for portable and foldable electronic devices. Foldable and portable devices integrated with flexible displays offer durability, flexibility, and portability. Consumers prefer devices that can be folded or rolled up for easy carriage. Leading electronics manufacturers are focusing on developing innovative devices with flexible displays. For instance, Samsung unveiled its first foldable smartphone Galaxy Fold in 2019 featuring a foldable OLED display. LG also launched a rollable smartphone with a flexible OLED screen. Further, several other companies have unveiled concepts for foldable laptops, tablets, and other electronic gadgets with flexible displays. This increasing adoption of flexible displays in foldable and portable devices is estimated to drive market growth over the forecast period.
SWOT Analysis
Strength: Flexible displays offer advantages like durability, portability and versatility over traditional displays. They can be folded, rolled or bent and are lightweight.
Weakness: Flexible displays currently have low resolution and limited brightness compared to traditional LCD and LED displays. They also have a higher failure rate and production costs.
Opportunity: Growth in wearable devices, foldable smartphones and rollable displays present significant growth opportunities. Rising demand for energy efficient and eco-friendly displays also boost prospects.
Threats: Stiff competition from established display panel manufacturers poses a threat. Technological challenges in overcoming display quality issues and achieving mass production also limit flexible display adoption.
Key Takeaways
The global flexible display market is expected to witness high growth over the forecast period of 2023 to 2030. Asia Pacific currently dominates the flexible display market with over 50% market share and is expected to maintain lead. China, South Korea and Japan are major producers and consumers of flexible displays.
Asia Pacific is the fastest growing as well as the largest market for flexible displays globally. Major display panel manufacturers based in China, South Korea and Japan have driven the regional market growth. China accounts for the major share in APAC flexible display market owing to presence of leading manufacturers like BOE technology and TCL.
Key players related content comprises: Key players operating in the flexible display market are LG Display Co. Ltd, Samsung Electronics Co Ltd, ROYOLE Corporation, e-ink Holdings, BOE Technology Group Co. Ltd, Guangzhou Oed Technologies Co. Ltd, FlexEnable Limited, Chunghwa Picture Tubes Ltd, Huawei Technologies Co. Ltd, Sharp Corporation, Plastic Logic, Innolux Corporation, AU Optronics Corp., TCL Electronics Holdings Limited, Microtips Technology, and Others. Samsung, LG and BOE Technology are currently the top three players in terms of revenue in the global flexible display market.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
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