Flexible Display Market, Market Overview, Market Key Trends, Key Takeaways

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posted on 11 months ago — updated on 1 second ago

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The global Flexible Display Market is estimated to be valued at US$ 16.14 billion in 2023 and is expected to exhibit a CAGR of 34.7% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Flexible Display Market, Market Overview, Market Key Trends, Key Takeaways

Market Overview:
The key trend driving the growth of the flexible display market is the increasing demand for smartphones and other electronic devices with flexible displays. With technological advancements, flexible displays offer several advantages over traditional rigid displays, including higher durability, better viewing angles, and increased design flexibility.

Market Key Trends:

These displays are highly desired for their ability to be bent, folded, or curved without affecting the performance of the display. This trend is being driven by the growing consumer preference for innovative and immersive display experiences, leading to the development of smartphones, wearables, and other electronic devices with flexible screens. Companies such as LG Display Co. Ltd, Samsung Electronics Co Ltd, and ROYOLE Corporation are at the forefront of developing and manufacturing flexible displays to cater to this increasing market demand.

Segment Analysis:

The flexible display market can be segmented based on technology, application, and region. In terms of technology, the dominant segment in the market is the OLED (Organic Light Emitting Diode) technology. OLED displays offer several advantages such as high contrast ratio, wide viewing angle, and thin and flexible design. These displays are widely used in smartphones, televisions, and wearable devices due to their superior picture quality and energy efficiency. The OLED segment is expected to continue dominating the market during the forecast period.

In terms of application, the consumer electronics segment is the largest and fastest-growing segment in the flexible display market. This can be attributed to the increasing adoption of smartphones, smartwatches, and televisions. The demand for flexible displays in these devices is rising due to the need for sleek and lightweight designs. Additionally, the automotive industry is also witnessing growing demand for flexible displays, especially in the dashboard and infotainment systems.

Key Takeaways:

The Global Flexible Display Market Demand is expected to witness high growth, exhibiting a CAGR of 34.7% over the forecast period, from 2023 to 2030. This growth is driven by various factors, including the increasing demand for smartphones and consumer electronics, technological advancements in display technologies, and the rising focus on creating innovative and flexible designs in various industries.

In terms of regional analysis, Asia Pacific is the fastest-growing and dominating region in the flexible display market. This can be attributed to the presence of major display panel manufacturers, such as LG Display Co. Ltd and Samsung Electronics Co Ltd, in countries like South Korea and China. Moreover, the growing consumer electronics industry and the increasing adoption of smart devices in countries like China, Japan, and India are further driving the market growth in this region.

Key players operating in the flexible display market include 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. These companies are focusing on product innovation, partnerships, and investments in research and development to gain a competitive edge in the market.