Flexible Display Market Expected to Reach a Valuation of USD 242.6 billion by 2031, Showing a Remarkable CAGR of 33.1% – Transparency Market Research, Inc.
Companies in the flexible display industry are focused on high-growth end-use applications like smartphones, laptops, and peripherals to keep their businesses expanding.
Wilmington, Delaware, United States, Jan. 29, 2024 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global flexible display market was projected to attain US$ 14.9 billion in 2021. It is anticipated to garner a 33.1% CAGR from 2022 to 2031 and by 2031, the market is likely to attain US$ 242.6 billion by 2031.
Flexible flat panel displays have a wide range of uses in the media and entertainment industries, including performance art, advertising, and decoration. Some market participants, such as Royole Corporation, provide ‘RoLight’, a smart flexible advertising device which includes a high-definition flexible screen that may be used for display advertising, illumination, or as a decorative element.
The firm also sells the ‘RoFlag’, a flexible desktop display made up of two completely flexible screens that can display dynamic video. Favorable government laws that encourage the use of sophisticated technologies and technical breakthroughs are also propelling the automobile sector, which is driving demand for flexible displays.
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Key Findings of the Market Report
- The curved display segment dominated the market throughout the projected period, owing to increased demand for curved displays from the consumer electronics sector for the development of smartphones and TVs.
- Curved, bending, and foldable displays are occasionally addressed, as they are conceptually similar to flexible displays. Some significant industry participants, such as LG Electronics, supply curved displays and help to expand the market.
Global Flexible Display Market: Key Players
Several companies are making large investments in extensive research and development, as well as innovative product development. Key players have pursued significant efforts such as product portfolio diversification and mergers and acquisitions. The following companies are well-known participants in the global flexible display market:
- Delta Electronics
- FlexEnable Limited
- Japan Display Inc.
- Koninklijke Philips N.V.
- LG Display
- Microchip Technology Inc.
- Panasonic Corporation
- Royole Corporation
- SAMSUNG DISPLAY
- Sharp Corporation
- Sony Corporation
- UNIVERSAL DISPLAY
- Visionox Company
Market Trends for Flexible Display
- Based on technology, global flexible displays are divided into OLED, EPD, LCD, and others. OLED is a fast-growing area of the worldwide flexible electronics industry. Smartphone screens are traditionally stiff due to the glass layer used in their fabrication. However, the newest OLED-based technology has eliminated the need for it, replacing it with a thin layer of flexible glass screen.
- The OLED display is popular nowadays because of its flexibility, and it is constructed of organic components that generate light when power is transmitted between them. The screen of a display is then coated with a thin layer of plastic, which is scratch-prone.
- Flexible OLED display is a novel display technology that produces visually appealing and energy-efficient screens and lighting panels. OLED display technology has evolved over the last few decades due to its advantageous properties, which include advanced image quality, good contrast, higher brightness, blacker blacks, a wider color range, a fuller viewing angle, much faster refresh rates, lower power consumption, and greater durability to operate in a wider temperature range. Several fitness firms have also used flexible PMOLED screens (Passive Matrix OLED) in smart wearables.
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Global Market for Flexible Display: Regional Outlook
- Asia Pacific accounted for 34% of the global flexible display market in 2021. The huge proportion was mostly owing to increasing demand for flexible displays in the consumer electronics industry, which accounted for a large portion of overall consumption in Asia Pacific. China dominated Asia Pacific’s flexible display market.
- North America and Europe are also important markets for flexible displays, with considerable shares of the worldwide market in 2021. The market is driven by increased demand for flexible displays in North America’s automotive and aerospace industries.
- The Middle East and Africa have a larger market for flexible displays than Latin America; nevertheless, the Latin American industry is expected to grow at a faster rate.
Global Flexible Display Market Segmentation
Type
- Curved Display
- Bendable and Foldable Display
- Rollable Display
Technology
- OLED
- EPD
- LCD
- Others
Application
- Smartphone
- Computer and Peripherals
- Wearable Devices
- Television
- In Vehicle Display
- Digital Signage
Industry
- Automotive and Transportation
- Aerospace and Defense
- Media and Entertainment
- Consumer Electronics
- IT and Telecommunication
- Sports and Fashion
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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