Flexible OLED Screen Market Size, Share, Growth, and Industry Analysis, By Type (Glass, Flexible/Rigid Plastic and Others), By Application (Mobile Phone, Computer and Others), Regional Insights, and Forecast From 2024 To 2031

Updated On: 08 April 2024

Flexible Oled Screen Market Report Overview

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The global flexible OLED screen market size is USD 483 million in 2022 and is projected to touch USD 1979.43 million by 2031, exhibiting a CAGR of 17% during the forecasting period.

Many mobile gadgets and TVs currently use OLED display technology, which offers stunning and effective lighting panels. The next-generation technology known as flexible OLED makes it possible to bend and curve these displays for various uses. OLED is a new display technology that makes it possible to create attractive and effective displays and lighting panels. The next generation of OLED screens will be flexible and bendable. OLEDs are now found in numerous mobile devices and TVs. In comparison to earlier LED and LCD displays, OLEDs—the display industry's newest generation technology—offer higher performance and improved optical qualities.

COVID-19 Impact: The Pandemic Dysfunctioned the Market Growth

The global COVID-19 pandemic has been unprecedented, staggering, as the flexible OLED screen market are experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributed to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Starting from December 2019, COVID-19 illness pragmatically spread in 180+ nations around the world and the World Health Organization announced it as a  well-being crisis. Due to the closure of various cities, COVID-19 has had a negative impact on the market by disrupting the supply chain for the manufacture of phones and displays and decreasing smartphone sales globally. The shutdown, which has halted economic activity, is anticipated to have a greater impact in the near future as governments throughout the world adopt more stringent controls. Due to a protracted lockdown, industries had to temporarily close, which impeded the manufacture and shipment of goods.

LATEST TRENDS

"The Product Innovation to Attract the Market Share"

Market innovation is now taking place. A team from the University of Minnesota Twin Cities in the United States created a customised 3D printer in January 2022 for creating a flexible organic light-emitting diode (OLED) display. The innovation, which relies on converting power into light using an organic material layer, could result in low-cost flexible OLED screen for handheld or wearable gadgets created at home using 3D printers. A new 6-Gen flexible OLED plant will be built by Samsung Display in light of recent developments.

Flexible Oled Screen Market Segmentation

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• By Type Analysis

Based on type, the flexible OLED screen market is subdivided into glass, flexible/rigid plastic and others.

• By Application Analysis

Based on the applications, the flexible OLED screen market is subdivided into mobile phone, computer and others.

DRIVING FACTORS

"The Increase in Smart phone Consumption to Amplify the Market Share"

The demand for high-definition ultra-high displays is rising swiftly as smartphone usage increases around the globe. Other businesses are catching on to the trend since several firms, including Apple and Samsung, use AMOLED panels in their flagship models. However, flexible OLED screen have a number of benefits over glass-based ones, particularly for mobile devices. For example, they are more lightweight, thinner, more robust. They offered improved performance, greater durability, and lighter weight, which turned out to be a valuable asset for producers of mobile phones. Additionally, in order to remain ahead of the competition, numerous businesses have been releasing smartwatches with flexible displays.

"The Rising Interest for Bended Display to Uplift the Market Share"

The growing demand for bent displays, which are only possible with flexible OLED screen, has become one of the new generation's top choices, which is boosting the growth of the global market. Ascend in Extra Cash is counted on to play a supporting role in the upward development of the market. Customers with more incomes are purchasing TVs with expanding higher goals. It has been observed that countries like Brazil, India, and China have seen a significant increase in the production of 4K TV sets. The global market for OELD displays is being filled by the transition from the traditional watching experience to a high-level mechanical display. The expansion of television size on a global scale is another aspect promoting the flexible OLED screen market growth.

RESTRAINING FACTORS

"The User Acceptability and Cost factor to Restrain the Market Growth"

Although the use of flexible display technology in smartphones and tablets seems a little hazy at the moment due to external factors like user acceptance, security, and cost-effectiveness being some of the major challenges to be overcome by the smartphone companies, it has a wide range of applications in other industries like transportation and the auto industry. However, there are some factors that are necessary to impede the market's growth, such as section-level barriers for an association coupled with unpredictably high costs of production. Thus, the user acceptability and cost factor to hinder the flexible OLED screen market growth.

Flexible Oled Screen Market Regional Insights

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"Asia Pacific Region to Lead With Presence of Key Players  and Adoption of Electronic Devices"

The economy of important nations like India and China are expanding, which is increasing consumer disposable income. Consequently, we are moving in the direction of embracing high-end technological devices, including curved televisions and expensive cellphones. driving the region's market for flexible OLED. Furthermore, Chinese businesses are working swiftly to establish massive production facilities to produce OLEDs. In the city of Chongqing in southwest China, BOE is building a manufacturing facility for smaller OLEDs. With an annual production rate of 115 million panels, the OLED production line is the biggest in China for a single factory. The demand will therefore fuel the expansion of the flexible OLED screen market share in the area.

KEY INDUSTRY PLAYERS

"The Prominent Players Contributing in the Market Growth"

The report covers the information on the advancement outlooks with new inventions and SWOT analysis.The market elements situation, with the development areas of the market in the upcoming years.

List of Market Players Profiled

• Samsung (South Korea)
• LG Display (South Korea)
• AUO (China)
• Sony (Japan)
• JOLED (Japan)
• BOE (U.S.A)
• CSOT (China)
• EverDisplay (China)
• Tianma (Japan)
• Visionox (China)
• Skyworth (China)
• Royole (U.S.A).

INDUSTRY DEVELOPMENT

• June 2021: Samsung unveiled a flexible OLED display that may be essential for future wearable tech that can adhere to the skin and adapt to its surface. Samsung developed distinct OLED pixels for a flexible display that are ridged and rest on an elastic elastomer surface. A flexible material is used to make connections between the OLEDs and the traces connecting the display to the driver system.
• June 2022: With state-of-the-art OLED technology, LG Display develops new markets. The company released updated G2 and C2 television models. Upgraded OLED technology is used in both models to produce even better pictures. The screens can now give increased brightness together with more clarity and detail thanks to this technology. Along with three more sizes, the G2 series' new sizes are launched (55", 65", and 77"). Six display sizes are available for the C2 series.

REPORT COVERAGE

The report examines elements affecting the demand and supply sides and estimates dynamic market forces for the forecast period. The report offers drivers, restraints, and future trends. After evaluating governmental, financial, and technical market factors, the report provides exhaustive PEST and SWOT analysis for regions. The research is subject to alteration if the key players and probable analysis of market dynamics change. The information is an approximate estimate of the factors mentioned, taken into consideration after thorough research.