Flexible Display Technology Market Size, Share, Growth, and Industry Analysis, By Type (Liquid crystal display (LCD), Organic light emitting diode (OLED), Electronic paper display (EPD)), By Application (Smartphone, Tablet, Laptop, Smartcard, TV, Wearable Display), Regional Forecast By 2031

Updated On: 29 April 2024

Flexible Display Technology Market Report Overview

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The global Flexible Display Technology market size was USD 17000 million in 2022, as per our research, the market is expected to reach USD 244919.73 million in 2031, exhibiting a CAGR of 34.5% during the forecast period. 

The global COVID-19 pandemic has been unprecedented and staggering, with the Flexible Display Technology Market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Flexible display technology refers to the development and manufacturing of displays that are thin, lightweight, and bendable or rollable. Unlike traditional rigid displays, which are made of glass, flexible displays are created using flexible substrates, such as plastic or metal, that allow them to be curved, folded, or flexed without breaking. The technology behind flexible displays involves using innovative materials, such as organic light-emitting diodes (OLEDs) or electronic ink (e-ink), and advanced manufacturing techniques. These displays offer several advantages, including improved durability, portability, and versatility in terms of form factor and design.

Flexible displays have gained significant attention and adoption across various industries, including consumer electronics, automotive, healthcare, and advertising. In consumer electronics, they are used in smartphones, tablets, and wearable devices to provide larger screen sizes, better user experience, and enhanced portability.

COVID-19 Impact: Market to witness plunge due to less demand

The pandemic led to widespread disruptions in global supply chains, including the production and distribution of flexible display components. Manufacturing facilities were temporarily shut down, leading to delays in production and shortages of key components. Due to economic uncertainties and lockdown measures imposed in various countries, consumer demand for electronics, including devices with flexible displays, experienced a decline. Many people prioritized essential purchases, resulting in lower sales and adoption of flexible display technology.

Latest Trends

"Increased demand for Foldable smartphones to fuel market growth."

Foldable smartphones have gained attention in recent years, and major smartphone manufacturers have introduced devices with flexible displays that can fold or unfold to provide a larger screen size when needed. This trend is expected to continue, with advancements in display technology and design, as well as increased competition among manufacturers. Rollable displays are another emerging trend in the flexible display market. These displays can be rolled out to provide a larger screen area and rolled back into a compact form for easy portability. Companies are exploring rollable display technology for various applications, including televisions, smart home devices, and portable monitors.

Flexible Display Technology Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into, Liquid crystal display (LCD), Organic light emitting diode (OLED), Electronic paper display (EPD).

• By Application Analysis

Based on application, the market can be divided into, smartphone, tablet, laptop, smartcard, TV, wearable display.

Driving Factors

"Adoption of wearable devices and automotive displays to stimulate market demand"

Flexible displays are increasingly being integrated into wearable devices such as smartwatches, fitness trackers, and augmented reality (AR) glasses. These displays offer better form factor options, improved comfort, and enhanced user experience in wearable technology. The automotive industry is embracing flexible display technology for in-car displays, including infotainment systems, instrument clusters, and heads-up displays. Flexible displays allow for curved or customized designs, enabling automakers to create more visually appealing and immersive user interfaces. These factors are driving the Flexible Display Technology market growth rapidly.

"Transparent and Stretchable Displays to propel market growth"

Transparent and Stretchable Displays: Research and development efforts are focused on creating transparent and stretchable displays. Transparent displays have potential applications in augmented reality, heads-up displays, and retail signage. Stretchable displays are being explored for use in wearable devices and medical applications, offering flexibility and comfort in conforming to the body.

Restraining Factors

"High manufacturing cost to restrict the market growth"

The manufacturing process for flexible displays is complex and requires specialized equipment and materials. As a result, the production costs of flexible displays are generally higher compared to traditional rigid displays. The higher costs can limit the mass adoption of flexible display technology, particularly in price-sensitive consumer markets. The production of flexible displays requires a well-established supply chain infrastructure that can efficiently manufacture and distribute the necessary components. The development of this infrastructure, including the availability of flexible substrates, transparent conductive materials, and encapsulation technologies, can be a challenge, slowing down the market growth.

Flexible Display Technology Market Regional Insights

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"Increasing demand in Asia-Pacific has boosted the Flexible Display Technology Market share"

The APAC region is a key hub for flexible display technology. Countries such as South Korea, Japan, and China have made significant advancements in the field. South Korea, in particular, is home to several major display manufacturers and has been a leader in the development and production of flexible OLED displays. The region benefits from strong manufacturing capabilities, robust research and development activities, and a large consumer electronics market, which drives the demand for flexible displays. These factors are increasing the Flexible Display Technology market share in the region.

Key Industry Players

"Adoption of Innovative Strategies by Key Players Influencing Market Development"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Samsung Display (Korea)
• LG Display (South Korea)
• Hewlett-Packard Company (US)
• Sony Corporation (Japan)
• Atmel Corporation (US)
• Kent Displays (US)
• Universal Display Corporation (US)
• Novaled AG (Germany)
• DowDuPont
• Corning (US)
• Philips Electronics (Netherlands)
• Materion Corporation (US)
• AU Optronics (Taiwan)
• E Ink Holdings (Taiwan)

Report Coverage

This report examines an understanding of the Flexible Display Technology market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.