Flexible Display Market is estimated to Expand at a CAGR of 33.1% during the Forecast Period, Observes TMR Study
Growing use of flexible displays in the consumer electronics industry for smartphones, wearable devices, laptops, and its peripherals is expected to boost the category.
Rise in middle-class income and consumers adopting smart gadgets in automobiles to boost pleasure and safety are significant reasons likely to drive the global market in the near future
ALBANY, N.Y., June 27, 2022 /PRNewswire/ — The value of the global flexible display market stood at US$ 14.9 Bn in 2021. The market is likely to expand at a CAGR of 33.1% during the forecast period, from 2022 to 2031. The global flexible display market is predicted to surpass the valuation of US$ 242.6 Bn by 2031. Flexible displays include characteristics such as plastic-like thinness, lightweight, and durability, as well as the flexibility to be curved accurately and utilized in a variety of smart devices. Flexible display manufacturers & suppliers are also concentrating on modern electronics breakthroughs such as miniaturization, organic electronics, and improved materials. In order to diversify their income sources, they can take advantage of incremental opportunities in flexible display technologies.
Due to their expanding use in flexible displays, wearable electronics, smart cards, and various other applications, flexible batteries are growing in popularity. A flexible display is also a rapidly growing technology, with applications of flexible display in areas such as media, aircraft, and transportation. Research on flexible display predicts increasing usage of this display technology in medical display systems.
The surge in demand for flexible display technology for a variety of applications such as digital signage, smartphones and tablets, and smart wearable devices is likely to drive the global flexible display market. The growing prominence of quantum dot (QD) display technology presents manufacturers with new revenue prospects and is likely to emerge as one of the important types of display technology.
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Key Findings of Market Report
- Over the next few years, the market is expected to be driven by the increasing use of flexible displays in different industries such as consumer electronics, automotive and transportation, media and entertainment, and aviation and military. The future of phone design with flexible display holds promise in the development of mobile devices and smart displays is also expected to propel the flexible display market during the forecast timeline. In addition to that, the global market has been propelled by increasing expenditures on the development of sophisticated displays.
- Due to the surge in usage for curved displays from the consumer electronics sector for the manufacturing of TVs and smartphones, the curved display category is likely to hold a significant proportion of the market during the forecast timeframe. A flexible display is basically the same as any other display, except that it is built on a flexible substrate.
- OLED is a rapidly growing category of the global flexible electronics market in terms of technology. Due to the glass layer utilized in display manufacture, smartphone screens are traditionally inflexible. However, the newest OLED-based technology has eliminated the requirement for it, substituting a thin film of flexible glass with a thin layer of OLED-based technology. The OLED display, which is constructed of organic components that generate light when power is transmitted between them, is now prominent due to its versatility.
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Global Flexible Display Market: Growth Drivers
- Automakers are concentrating on integrating flexible screens into car interiors. Over the next several years, a substantially bigger section of a car’s interior surfaces is likely to become interactive, and the amount of space given to displays in vehicle interiors is already fast expanding.
- Based on value, the Asia Pacific region held 34% of the global flexible display market in 2021. The high usage of flexible displays in consumer electronics, which represented a substantial chunk of overall consumption in Asia Pacific, was largely responsible for the considerable share. In Asia Pacific, China accounted for a sizable portion of the flexible display business.
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Global Flexible Display Market: Key Players
Some of the key market players are
- Microchip Technology Inc.
- Koninklijke Philips N.V.
- Sony Corporation
- Sharp Corporation
- Japan Display Inc.
- Delta Electronics, Inc.
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Global Flexible Display Market: Segmentation
- Curved Display
- Bendable and Foldable Display
- Rollable Display
- Computer and Peripherals
- Wearable Devices
- In Vehicle Display
- Digital Signage
- Automotive and Transportation
- Aerospace and Defense
- Media and Entertainment
- Consumer Electronics
- IT and Telecommunication
- Sports and Fashion
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