28-May-2021 | Facts and Factors
According to a report issued by Facts and Factors, the global flexible displays market was registered at about USD 12.4 billion in 2020 and is expected to reach USD 73 billion by the end of 2026, growing at an approximate CAGR of 34.4% between 2021 and 2026.
Flexible displays are lightweight, indestructible, and adaptable. Active-matrix displays, such as thin-film transistors on a plastic substrate, are used in this technology. Flexible displays provide numerous advantages such as bendable, lightweight, shatter-proof, portable, unbreakable, ultra-thin, and consuming minimal energy.
Top Market Players
Major players in the flexible display market are Atmel Corporation Universal Display Corporation, AU Optronics Corp., BOE Technology Group Co., Ltd., Corning Incorporated, Delta Electronics, Inc., Dupont Display, E Ink Holdings, Inc., FlexEnable Limited, Hewlett-Packard Company, Innolux Corp., Japan Display Inc., Kent Displays, Inc., LG Display Co., Ltd., Koninklijke Philips N.V., Materion Corporation, Nanolumens, Novaled AG, Panasonic Corporation, ROYOLE Corporation, Samsung Electronics Co., Ltd., Sharp Corporation, Tianma, Viewpointec, and OSRAM Automotive among others.
Rapid Technological Advancement Drives the Market Growth
Over the past few years, the flexible display market has seen great technological breakthroughs. Compared to classic CRT-based display technologies, display devices now offer higher resolution, better contrast ratio, and lower power usage. The display market's intense competition has resulted in new product developments and releases with appealing aesthetics and high-end specs. For instance, LG released a wallpaper TV in January 2017. It has a 4 mm deep flexible screen that can be magnetized to the wall. OLED W TVs is the brand name for this TV line. It includes models that are ultra-thin and bendable, with sizes ranging from 65 to 77 inches. In January 2017, Samsung Display had launched curved quantum dot displays that include CH711 and the formerly released CF791 and CFG70 gaming monitors. These gaming monitors offer enhanced design with rich colors to promote an immersive viewing experience. Furthermore, some of the huge smartphone manufacturers have already patented their foldable gadget designs. For example, Apple was awarded a patent in May 2019 for a foldable screen that may be used on iPhones and other devices. LG has also trademarked four new brands: LG Flex, LG Duplex, LG Bendi, and LG Foldi, this indicates the company is getting closer to presenting its foldable display devices at upcoming events. Xiaomi and Huawei had intended to employ Samsung Display's foldable smartphone panels at the start of 2020. Previously, Huawei's Mate X had foldable panels from BOE of China, while Xiaomi's Mi Mix Alpha had a flexible display from Visionox, a Chinese display manufacturer. Xiaomi had a patent for a pull-out phone with a sidebar last year. The patent was authorized and published in December 2019, and it will utilize Samsung Display's foldable smartphone screens. Thereby, certain launches are propelling the market growth.
With the introduction of devices Q-dot LED and OLED, companies like LG Display Co., Ltd, and Samsung Electronics Co., Ltd have led the display market into a new era. OLEDs have a wider viewing angle and a higher contrast ratio than LCDs, and they are also brighter. OLEDs also have high refresh rates, allowing for high-definition video. Consumers are drawn to display products with appealing appearances and excellent features, such as TVs, desktop monitors, notebooks, and mobile phones. The display market has been transformed by items based on OLED technology.
COVID-19 Impact on the Global Flexible Display Market
The worldwide electronics sector has experienced dual impacts as a result of the epidemic. The production of electronics parts has been ceased due to a logistical bottleneck and a lack of manpower availability around the world. On the other side, non-essential items are no longer being delivered by numerous e-commerce sites around the world. Moreover, surge in the online education; remote working has increased the demand for the display devices.
Asia Pacific Region Dominates the Global Flexible Display Market
Asia Pacific is expected to be the leading region in the flexible display market, with a large market share. The presence of multiple consumer electronics manufacturers and a large client base, are thought to be driving expansion. China, India, South Korea, and Japan are leading the way in the development of flexible displays in the region, and their products are cutting-edge. China is a major producer of flexible OLED displays; for example, China's Chengdu facility produces more than 70 million sheets of flexible phone displays each year. Similarly, Mianyang is predicted to increase its output in order to expand the region's display panel manufacturing capabilities, boosting demand for flexible displays over the forecast period. The market is being fueled by the increasing competition among players in this sector, which is fueled by the growing integration of these components with electronic devices.
North America accounted for more than 20% of total revenue. Due to the growing need for energy-efficient gadgets, the regional market is growing steadily. Because of the high demand for flexible displays in the automobile industry, Europe is likely to develop significantly in the future years.
Browse the full report “Flexible Display Market by Type (LCD, OLED, Electronic Paper Display (EPD), and LED), By Material Type (Glass, Plastic, and Others), By Technology (Emissive, and Non-emissive), By Application (Smartphones & Tablets, Smart Wearables, Televisions & Digital Signage Systems, Personal Computers and Laptops, E-reader, Vehicles & Public Transports, and Smart Homes Appliances): Global & Regional Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 – 2026” report at https://www.fnfresearch.com/flexible-display-market
The global flexible display market is segmented as follows:
By Material Type:
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