Status : Published | Published On : Jan, 2024 | Report Code : VRSME9091 | Industry : Semiconductor & Electronics | Available Format : | Page : 275 |
With an expected compound annual growth rate (CAGR) of 32% during the forecast period of 2025-2030, the Global Flexible Display Market is projected to expand from USD 13.6 billion in 2023 to reach USD 58.3 billion by 2030. Flexible displays, characterized by their rollable and flexible nature, are constructed on a flexible substrate, which can be made of plastic, metal, or flexible glass. The market growth will be driven by several factors, including the increasing adoption of consumer electronics devices, growing demand for smart wearable devices, utilization in advertising campaigns and promotional activities through LED video walls and digital signages, rising popularity of OLED-based devices, surge in demand for displays in connected and automated vehicles for documentation and navigation services, and the upward trend of smart cities. Moreover, the remarkable rise in the adoption of OLED technology is fueling the demand for high-definition content and high-performance applications, thereby bolstering the expansion of the flexible display market.
The COVID-19 outbreak has had an adverse impact on the flexible display market as many companies had to suspend their operations, production of electronics parts was stopped, and lack of skilled labor force. However, there was increasing in online education and remote working access that has led to a surge in the demand for display devices.
Market Segmentation
Insight by Material
On the basis of material, the global flexible display market is divided into plastic, glass, and others. Plastic contributes to the largest share in the flexible display market owing to the shifting trend from glass substrate to a plastic substrate. Moreover, plastic substrate offers benefits including light in weight, robustness, and flexibility in terms of design and size.
Insight by Technology
Based on technology, the global flexible display market is divided into liquid crystal display (LCD), organic light-emitting diode (OLED), EPD, E-Paper, and Quantum Dots. OLED segment dominates the market. OLED -based displays are widely adopted in smartphones owing to their flexibility, better image quality, simple design, and are energy-efficient.
Insight by Application
Based on application, the global flexible display market is divided into smartphones & tablets, smartcards, e-reader, electronic shelf labels (ESLS), smartwatches & wearables, TV & digital signage systems, vehicles & public transport, laptops & PC monitor, smart home appliances, and others. The smartphone segment is anticipated to have a high CAGR during the forecast period owing to the initiatives by the government to set up smart cities, introduction of digital signage with flexible displays will led to wide acceptance for map displays and advertising. Moreover, wearables are growing at a robust pace owing to changing lifestyles and technological development. Wearable devices are using small display panels and have many new applications like AR and VR.
Insight by End-User
The global flexible display market is divided into automotive, aerospace, consumer electronics, transportation, government, utilities, and others, based on end-user. The consumer electronics segment accounted for the largest revenue share in the global market in 2022 owing to the wide acceptance of consumer electronics and rising demand for smart wearables. The device manufacturers are implementing these displays and lighting panels so as to provide flexibility, lightweight, durable, and bendability in the devices.
Report Metric |
Details |
Historical Period |
2018 - 2023 |
Base Year Considered |
2024 |
Forecast Period |
2025 - 2030 |
Market Size in 2023 |
U.S.D. 13.6 Billion |
Revenue Forecast in 2030 |
U.S.D. 58.3 Billion |
Growth Rate |
32% |
Segments Covered in the Report |
By Material, By Technology, By Application and By End User |
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
Regions Covered in the Report |
North America, Europe, Asia-Pacific, Middle East, and Rest of the World |
Industry Dynamics
Industry Trends
The emerging application in military equipment and digital signage are the trends that might led to the growth of the flexible display market.
Growth Drivers
The flexible display market is poised for significant growth, driven by the increasing adoption of smart electronic devices, mobile phones, and tablets, as well as the growing demand for entertainment and gaming experiences. This surge is further fueled by the rising need for thin and flexible displays in the consumer electronics sector, including portable and wearable devices. Notably, both government initiatives and manufacturer investments in research and development activities, alongside advancements in display technology, are contributing to the market's expansion.
Another key factor driving market growth is the growing popularity of OLED-based devices such as VR headsets and digital cameras. These devices, along with others, are leveraging flexible displays, thereby creating additional avenues for market development. The flexibility of these displays offers numerous advantages, including bendability, lightweight design, shatter-proof properties, unbreakable construction, portability, ultra-thin structure, and minimal energy consumption.
In summary, the flexible display market is experiencing significant growth prospects due to the widespread adoption of smart devices, increased demand in the entertainment and gaming sectors, and the rising prominence of OLED-based devices. The unique benefits offered by flexible displays make them highly appealing for various applications, reinforcing the market's expansion.
Challenges
Factors that are hampering the growth of the flexible display market include complex manufacturing processes, huge capital investment, and displays consisting of plastic that have limited color palettes as compared to glass. Also, OLED flexible displays are sensitive to air and moisture owing to their material are one of the challenges faced by the flexible display market.
Opportunities
The increasing demand for flexible displays in healthcare and automotive and product innovation to make eco-friendly and light devices will create opportunities for industry players to operate in the market. Furthermore, technological development has led to the introduction of state-of-art flexible displays and created opportunities for growth.
Geographic Overview
North America contributes to the largest share in the flexible display market owing to its well-established economy and has a large consumer electronics market. The robust adoption of the latest display technologies and their applications will further fuel the growth in the region.
Asia-Pacific is anticipated to be the fastest-growing region in the flexible display market owing to the rising demand for compact and lightweight electronic devices. Moreover, the increased penetration of smartphones and surge in implementation of developed technologies will accelerate the growth of the flexible display market in the region.
Competitive Insight
Large-scale display panel makers like Innolux Corp. and AU Optronics Corp. perceive the expanding market for smart wearables as an opportunity to increase revenue and are investing accordingly. The industry players are shifting towards curved display technology and some companies are launching electronic products with flexible displays. The major industry players like LG and SAMSUNG are evolving flexible OLED display panels in huge numbers to have a strong edge in the market. There is intense competition that has led to product development with appealing aesthetics and high-end consumers. The manufacturers are planning to expand their business by adopting strategies like new product development, partnerships, M&A.
LG is one of the leading suppliers and manufacturers of thin-film transistor liquid crystal displays (TFT LCDs), OLEDs, and flexible displays. LG Display is focusing on expanding its product line by offering novel products, especially flexible displays with huge screen sizes. Also, the company has introduced two new product concepts to the world – “Virtual Ride” and “Media Chair.” The company hopes to emphasize the strong potential and wide versatility of OLED to establish new markets by launching these two revolutionary devices with flexible OLED screens.
Samsung Display Co., Ltd., is one of the market leaders in the flexible display market. To achieve growth in the flexible display industry, Samsung Display places a great emphasis on product innovation and technological advancements. Samsung's flexible OLED has ushered in a new era of full-screen displays with slimmer smartphone bezels, as well as a 'edge display' that bends on both sides.
Sharp Imaging and Information Company of America (SIICA) has introduced a 4K Ultra-HD Sharp 4T-B80CT1U AQUOS BOARD® interactive display in November 2021, allowing for more collaborative and engaging classrooms and meeting rooms.
At Airshow China in September 2021, Royole and Airbus unveiled the first three-cabin flexible display prototypes, building on their relationship that began in 2018. A fully flexible display is cutting-edge technology that effortlessly adapts to any interior surface. It is the human-machine interface of the future in aviation, working as a 'sticker.'
Some of the key players operating in the flexible display market: BOE Technology Group Co., Ltd., SAMSUNG DISPLAY, LG DISPLAY CO., LTD., AU Optronics Corp., Innolux Optoelectronics Co., Ltd., Japan Display Inc., E Ink Holdings Inc., Corning Incorporated, SHARP CORPORATION, Visionox Company, and Royole Corporation
The Flexible Display Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
Segments Covered in the Report
Region Covered in the Report
Source: VynZ Research
Purchase Options
Latest Report
Research Methodology
Connect With Our Sales Team
Flexible Display Market