Flexible Display Global Market Report 2024

A flexible display is an electronic display printed on a foldable plastic membrane that can be easily twisted and bent. It is designed to withstand folding and twisting, providing a higher level of flexibility compared to traditional flat displays. These displays are known for their durability and lightweight nature, making them suitable for use in various devices such as virtual reality (VR) headsets, digital cameras, laptops, and televisions.

The flexible display market encompasses the sales of flexible displays by various entities, including organizations, sole traders, and partnerships. These displays offer enhanced flexibility and durability compared to traditional flat displays, contributing to their growing use in a range of electronic devices.

The flexible display market research report is one of a series of new reports that provides flexible display market statistics, including flexible display industry global market size, regional shares, competitors with a flexible display market share, detailed flexible display market segments, market trends and opportunities, and any further data you may need to thrive in the flexible display industry. This flexible display market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The flexible display market size has grown exponentially in recent years. It will grow from $19.65 billion in 2023 to $26.32 billion in 2024 at a compound annual growth rate (CAGR) of 33.9%. The growth observed in the historical period can be attributed to several factors, including increased adoption of consumer electronics, investments in research and development, growth in the automotive sector, and the rise of the e-commerce industry. These factors collectively contributed to the expansion of the flexible display market during the historic period, reflecting the increasing demand and advancements in technology across various sectors.

The flexible display market size is expected to see exponential growth in the next few years. It will grow to $79.36 billion in 2028 at a compound annual growth rate (CAGR) of 31.8%. The anticipated growth in the forecast period can be attributed to various factors, including the increasing integration of flexible displays in smart homes, the growth of the healthcare sector leveraging such displays, the rising adoption of smartphones with flexible display technology, an increase in disposable income enabling consumer purchases, and the expanding gaming and entertainment sector. Major trends expected in the forecast period include the continued development of wearable technology, the emergence of holographic displays, increased integration with the Internet of Things (IoT), a focus on eco-friendly and sustainable manufacturing processes, and an emphasis on customization and personalization in flexible display technologies. These trends indicate a continued expansion and diversification of the flexible display market across multiple industries.

The rising demand for OLED-based devices is expected to propel the growth of the flexible display market going forward. An OLED refers to an organic electroluminescent (organic EL) diode, which is a light-emitting diode, that contains an emissive electroluminescent layer that gives good quality to the picture. Most flexible displays are made of OLED displays because they give better picture quality even when the screen is bent and twisted. For instance, in March 2022, according to the Retailers Association of India (RAI), an Indian retail trade association consumer electronics and appliance sales climbed by 23.5 percent in the third quarter of 2021.Therefore, the rising use of OLED displays in devices such as smartphones and TV is driving the growth of the flexible display market.

The growing demand for smart phones is expected to propel the growth of the flexible display market going forward. Smartphones are advanced mobile devices that combine the functionality of a traditional cellular phone with various features and capabilities typically associated with computers. Flexible displays are used in smartphone design as they are more durable and less prone to cracking or breaking. For instance, in February 2023, according to Uswitch Limited, a UK-based financial conduct authority, beginning in 2022, there were 71.8 million mobile connections in the UK, a 3.8% (or around 2.6 million) increase over 2021. The UK population is expected to grow to 68.3 million by 2025, of which 95% (or around 65 million individuals) will own a smart phone. Therefore, growing demand for smart phones is driving the growth of the flexible display market.

Technological advancements have emerged as a key trend gaining popularity in the flexible display market. Major companies operating in the flexible display market are focused on technological advancements to strengthen their position in the market. For instance, in January 2022, Samsung Electronics, a South Korea-based developer of smartphones, laptops, and televisions, launched new displays, namely, MicroLed, Neo QLED, in their new Lifestyle Television models. The Neo Quantum Processor allows the TV to control its lighting and enhance the brightness and accuracy of all shapes on the screen. This contains cloud gaming, on-screen multitasking, and a wide range of cutting-edge personalized features.

Prominent companies within the flexible display market are directing their efforts toward product innovation, leveraging cutting-edge technology, exemplified by offerings like the 7-inch Printed OLED Scrolling Display and the 6.7-inch AMOLED Rollable Display, to gain a competitive edge. These flexible displays cater to the portable device segment. For instance, in January 2021, TCL Technology, a leading China-based consumer electronics company, introduced the 7-inch Printed OLED Scrolling Display and the 6.7-inch AMOLED Rollable Display. The 7-inch Printed OLED Scrolling Display is a flexible display designed to be rolled up like a scroll, suitable for applications in tablets and e-readers. Meanwhile, the 6.7-inch AMOLED Rollable Display is a flexible display that can be rolled up like a tube, tailored for use in smartphones.

In a strategic move in July 2022, Samsung, a major South Korea-based electronics manufacturing company with a focus on flexible electronics, including flexible displays, acquired Cynora GmbH for a significant deal valued at $300 million. This strategic acquisition is aimed at bolstering Samsung's product portfolio in the realm of flexible displays and foldable electronics. Cynora GmbH, based in Germany, specializes in flexible electronics, particularly in the development of flexible and transparent displays. The acquisition underscores Samsung's commitment to advancing its capabilities in the flexible display market through strategic partnerships and acquisitions.

Major companies operating in the flexible display market include BOE Technology Group Co. Ltd., LG Display Co.Ltd., Royole Corporation, Samsung Electronics Co. Ltd., Japan Display Inc., AU Optronics Corp., Innolux Corporation, Corning Inc., Sharp Corporation, Visionox Technology Inc., E Ink Holdings Inc., Koninklijke Philips N.V., Microtips Technology, Delta Electronics Inc., DuPont de Nemours Inc., Hewlett Packard Enterprise Development LP, Nokia Corporation, Sony Corporation, Atmel Company, Plastic Logic GmbH, Panasonic Corporation, Japan Display Inc., FlexEnable Limited, Chunghwa Picture Tubes Ltd., Huawei Technologies Co. Ltd., Innolux Corporation, AU Optronics Corp., TCL Electronics Holdings Limited, Microchip Technology Inc., Cambrios Technologies Corp.

North America was the largest region in the flexible display market in 2023. The regions covered in the flexible display market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the flexible display market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The flexible display market consists of sales of flexible LCD, passive-matrix LCD, active-matric-LDC, OLED display, passive-matrix OLED, active-matrix OLED, and electrophoretic displays. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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