USD 13.2 billion
Flexible Display Market Size, Share, Growth Analysis, By Technology (OLED Display, E-paper Display), By Panel Size (Up to 6”, 6-20”), By Substrate Material (Glass, Plastic), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45J2155 |
Region:
Global |
Published Date: December, 2024
Pages:
197
|Tables:
64
|Figures:
75
Flexible Display Market Insights
Global Flexible Display Market size was valued at USD 13.2 billion in 2022 and is poised to grow from USD 17.93 billion in 2023 to USD 207.33 billion by 2031, growing at a CAGR of 35.8% during the forecast period (2024-2031).
The global flexible display market is primarily driven by the rise of consumer electronics and the growing demand for higher image quality. A flexible display is a visual output display that can be folded, rotated, bent, and rolled. Compared to traditional displays, foldable displays are more durable. The flexible display market is moderately fragmented, with many regional and global players. Compared to traditional panels, OLEDs in smartphones are thinner, lighter, and more durable. The adoption of flexible displays is still in its early stages, but the technology is seen as the next big thing for the smartphone industry.
Emerging players in Asia-Pacific's flexible display market are filing patents for their technology, which is likely to increase the competition in the market. The leading flexible display manufacturers of the Asia-Pacific region, such as Samsung, LG Display, and others, are investing considerably in enhancing their production facilities to introduce new products.
US Flexible Display Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Glass
Fastest Growth
Plastic
Growth Rate
35.8% CAGR
Global Flexible Display Market ($ Bn)
Country Share for North America Region (%)
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Flexible Display Market Segmental Analysis
Global Flexible Display Market is segmented by Technology, Panel Size, Substrate Material, Application, and Region. Based on Technology, the market is segmented into OLED Display, E-paper Display, Quantum dot LED Display, and LED-Backlit LCD. Based on Panel Size, the market is segmented into Up to 6”, 6-20”, 20-50”, and Above 50”. Based on Substrate Material, the market is segmented into Glass, Plastic, and Others. Based on Application, the market is segmented into Smartphone & Tablet, Smartwatches & Wearables, Television & Digital Signage Systems, PC Monitors & Laptops, E-reader, Electronic Shelf Labels (ESLS), Vehicles & Public Transports, and Smart Home Appliances. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Substrate Material
As per the global flexible display market forecast, glass segment accounted for the largest market revenue share in 2023. Glass offers efficient transparency and clarity, ensuring that displays deliver sharp, vibrant images with high color accuracy and brightness. Glass display does not degrade over time, maintaining its optical properties throughout the lifespan of the device. This ensures a consistently high-quality viewing experience, which is especially important for applications such as smartphones, tablets, and high-end displays. The superior visual quality provided by glass drives demand for its use in flexible displays. The rising demand for foldable smartphones and other innovative form factors is driving the growth of glass-based flexible displays.
The plastic segment is anticipated to register the fastest CAGR over the forecast period. Plastic offers flexibility and durability, making it an ideal material for flexible displays. Plastic substrates are able to bend, fold, and roll without breaking or losing their structural integrity. This flexibility allows for innovative design possibilities in various devices, such as foldable smartphones, rollable televisions, and wearable technology. The durability of plastic enables it to withstand impacts, drops, and other physical stresses better than glass, making it more suitable for everyday use in portable and wearable devices. The demand for plastic-based flexible displays is primarily driven by the growing adoption of smartphones, tablets, and wearable devices that require lightweight and durable screens.
Analysis by Application
As per the global flexible display market analysis, the smartphone segment accounted for the largest market revenue share in 2023. As smartphone users pursue more advanced features and unique experiences, manufacturers constantly innovate to meet these expectations. Flexible displays enable the development of foldable and rollable smartphones, offering new form factors that provide larger screens without increasing the overall device size. For instance, Tecno launched Phantom V Flip, a foldable smartphone in India. The smartphone has an internal 6.9-inch AMOLED display and a circular outer display with an encircled camera unit. These innovations are driving consumer's demand for flexible devices.
The automotive & transportation segment is expected to grow at the highest CAGR during the forecast period. Flexible displays are used in vehicle displays, such as instrument clusters and head-ups. This is due to these displays can be mounted on rigid surfaces, which makes them suitable for use in automobiles. With the help of wider visibility angles to allow a better view of the driver and passengers in the cabin, the safety features of the vehicle will be enhanced. The use of these displays has been greatly increased due to the rapidly growing demand for automatic transmission in the automotive and transportation sectors.
Global Flexible Display Market By Substrate Material (%)
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Flexible Display Market Regional Insights
As per the global flexible display market outlook, the North America region is dominating during the forecast period. The region's consumers are strongly interested in the latest technology, including smartphones, tablets, wearable devices, and televisions with advanced features such as flexible displays. The growing trend towards smart homes and connected devices further fuels this demand. As consumers seek more versatile, portable, and high-performance devices, the demand for flexible displays continues to rise, driving market growth. Strong consumer demand for advanced electronic devices in the U.S. drives the flexible display market. Consumers are highly interested in devices with advanced features, such as flexible displays.
Asia Pacific region in the flexible display market accounted for the largest revenue share of 37.5% in 2023. Flexible displays are used in various smart city applications, such as digital signage, interactive information panels, and smart transportation systems. The development of smart cities involves integrating advanced technologies to improve urban living and efficiency, and flexible displays play an essential role in this transformation. The region's focus on smart city initiatives and infrastructure development creates demand for flexible display solutions that enhance public services and urban environments. As consumers pursue more advanced and versatile wearable technology, smartwatches with flexible displays offer numerous advantages, such as enhanced durability, lightweight design, and the ability to conform to various wrist shapes.
Global Flexible Display Market By Geography
- Largest
- Fastest
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Flexible Display Market Dynamics
Flexible Display Market Drivers
Rising Innovation in Consumer Electronics for Enhanced Display Capabilities
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One of the key factors that led to the adoption of connected and innovative display solutions in the consumer electronics sector is the rising trend for smarter homes and buildings and the increasing demand for connectivity technologies. The speed of the replacement cycle of new consumer electronics has been increased by the integration of intelligent sensors into electronic products. Displays are increasingly used to control and communicate with machines.
Increasing Usage of Technologically Advanced Smartphones and Tablets
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The need for flexible display is increasing exponentially as a result of the rapid adoption of advanced display technologies. Compared to traditional CRT technologies, the technological advancement of these displays provides increased contrast, greater resolution, and lower energy consumption. The creation and introduction of new products with premium features and attractive designs has been driven by an increased level of market competitiveness.
Flexible Display Market Restraints
High R&D Costs and Complex Manufacturing Process
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The development cost for the flexible display is higher as it requires technologically advanced materials. The production of flexible screens is a complex process with multiple stages. Flexible display technology must match the performance of rigid display technologies currently used for this market. Thus, these factors are hindering the global flexible display market growth.
Limited Durability and Longevity
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Flexible displays offer unique advantages, such as bendability and lightweight designs, their durability and longevity compared to traditional rigid displays remained a concern in 2022. Manufacturers and researchers focused on addressing these challenges to enhance the durability and lifespan of flexible displays. The bending and folding mechanisms in devices such as smartphones and wearables can result in mechanical wear, creating vulnerabilities in the display and associated components.
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Flexible Display Market Competitive Landscape
The competitive landscape of the global flexible display industry is shaped by leading companies that prioritize innovation, strategic communication and high R&D investments. Samsung Display Co., Ltd., LG Display Co., Ltd. Companies like these dominate the market with their advanced OLED and AMOLED technologies, and catering to applications in smartphones, car displays and wearables.
Flexible Display Market Top Player’s Company Profiles
- LG Display Co., Ltd.
- Samsung Electronics
- Innolux Corp.
- AU Optronics Corp.
- Japan Display Inc.
- BOE Technology Group Co., Ltd.
- Sharp Corp.
- Visionox Corporation
- Corning Incorporated
- FlexEnable Limited
- Kateeva
- Cambrios Technologies Corp.
- Royole Corporation
Flexible Display Market Recent Developments
- In September 2023, LG announced that it will enter the foldable laptop market with the launch of the LG Gram Fold Laptop. The wiper has a touchscreen display that can be used as a tablet or computer when fully unlocked.
- In February 2022, BOE announced the development of OLED flexible 'N' shaped folding display technology support that can accommodate internal and external fibers.
- In January 2021, TCL CSOT introduced two simple displays: a 17-inch Printed OLED Display and a 6.7-inch AMOLED Rollable Display. These products are part of TCL CSOT’s range of touch modules and display panels, which are used in a variety of applications, such as interactive whiteboards, sports monitors, vehicle displays and video walls.
Flexible Display Key Market Trends
- Increasing Demand for Smartphones: One of the major factors driving the market is the increasing demand for smartphones globally. The rising proliferation of smartphones as an essential in the daily life of humans has led to extensive investments by key players to launch better flexible displays with the intent of catering to the changing demands of consumers.
- Rising Product Adoption in Wearable Devices: The rapidly expanding wearable devices are propelling the market growth. These devices including augmented reality (AR), fitness trackers, and smartwatches are widely integrated with display technology so as to offer consumers more appealing and comfortable experiences. Flexible displays enhance ergonomics, complies with the human body, and upholds innovative designs, this factor is further resulting in improved flexible display market statistics.
Flexible Display Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to SkyQuest analysis, the growing demand for flexible and portable electronic devices is the main driver of growth. The global flexible display market is primarily driven by the rise of consumer electronics and the growing demand for higher image quality. Despite the challenges posed by the pandemic, the flexible display market demonstrated resilience and adaptability. Companies in the industry swiftly adjusted their production and supply chain strategies to meet the changing market demands and address new requirements arising from the pandemic. Asia Pacific is emerging as a key region for flexible display development, especially in the consumer electronics industry.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 13.2 billion |
| Market size value in 2031 | USD 207.33 billion |
| Growth Rate | 35.8% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Flexible Display Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Flexible Display Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Flexible Display Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Flexible Display Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Flexible Display Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Flexible Display Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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