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Flexible Display Technology Market Overview
The Flexible Display Technology Market is projected to grow at 21% of CAGR and is expected to reach at USD 36 billion by the end of forecast period. Display technology has come a long way from conventional cathode ray tubes (CRT) to flexible displays. As compared to the traditional flexible display, these are lighter in weight. Also, they are a little rugged, and thin, plus easily foldable with no need of alteration while rolling. This seems to be a great opportunity for the display manufacturer to showcase the new display features in multiple applications like a laptop, cellphones, display panels of vehicles, and display signage. Liquid crystal display (LCD), organic light-emitting diode (OLED), and electronic paper display are the technology used for the flexible display. The advancement in electronic technology and the increasing demands for products have driven the growth of this sector. Today’s generation is dependent on electronic gadgets leading to an increase in the demand for electronic products. The producers are consistently trying to manufacture flexible displays for smartphones and the manufacturers are trying their level best to reach the customer satisfaction level
Covid 19 has hit the industrial sector rapidly and this is the new normal we have to face the recession by adopting strong strategic measures. The new normal is a mix of uncertainty complexities. The reports which we have provided will help us to give the market insights into various industrial vehicles. Cost-cutting measures can be the effective remedy to these pandemic disruptions Various analysts talked with experts who are working upon multiple strategies to deal with the covid crises. The study will help the key industry players with the best insights into their market.
The demand for connected and automated vehicles is increasing which needs a display for infotainment and navigation services. Moreover, the digital signage system is being adopted with the advent of the smart city concept. All this will lead to an increase in the demand for the flexible market display. Nevertheless, the complex manufacturing process is still hampering the market. Restraints The world of digital advertising is more personalized, as well as, sophisticated these days. There is a rise in the number of consumers that spend most of their time online now. Taking this as advantaging digital advertising is offering great ideas and is emerging as an excellent way to reach potential customers through multiple channels. People are more dependent on online shopping due to the ease and convenience offered by it. This is one of the main reasons due to which the demand for displays is reducing by a considerable percentage. The market is undergoing strategic product developments and alliances that are likely to help emerge from this restraint in the path of market growth.
Value Chain Analysis
With the advancement in electronic products, the demands of the products are increasing relatively leading to the growth of the manufactured and suppliers. Product differentiation is allowing people to try foldable, as well as, flexible displays. Major market players like LG, along with Samsung, are developing flexible OLED display panels in a mass number. Various new inventions of electronic products will add to the growth of the industry. Segment Overview:The globalized only technology is bifurcated into various segments. It is divided based on technology, display type, material, and end-user. The performance of the market segments in various regions, as well as, countries helps in analyzing the scope of the market and estimate a figure related to its market valuation by the end of the global forecast in 2023.
- Based on technology, the market is divided into liquid crystal display (LCD), organic light-emitting diode (OLED), electronic paper display, and quantum dot.
- Based on material, the market is based on polymer, glass, and glass-reinforced plastic (GRP).
- Based on this, the market is divided into bendable, rollable, and foldable.
- Based on display size, the market is segmented into up to 6’’, 6 – 30’’, and above 30’’.
- Based on application, the market is segmented into smartphones, tablets, laptops, smartcards, TV, wearable displays, digital signage, e-reader, electronic shelf label, and others.
- Based on end-user, the market is segmented into automotive, aerospace, retail, transportation, government, utilities, and others.
The regional analysis of flexible display technology has been given for North America, Europe, Asia Pacific, and the rest of the world. The Asian Pacific nations are expected to register the maximum growth by the end of the forecast period in 2023. The APAC market is witnessing a hike in the demand for display panel manufacturing plants. Also, there is wide-scale adoption of the OLED displays that are likely to help the market register maximum growth. There is a rise in the disposable income of people belonging to different countries in the APAC region. People are ready to spend their incomes on valuable and trending consumer goods. The cost of using labor in this region is quite low and plays a major role in reducing the manufacturing costs that are related to the display panels. Also, the growing availability of infrastructure and fluent resources in this region is inviting various small, medium, and large-sized manufacturers of the OLED, as well as, the LCD panels, to establish their manufacturing plants in this region. North America is expected to take off the flexible display market. Well-developed nations like US America, Canada, and Mexico are highly concentrating upon the research and development of flexible display technology for various customer electronic devices and autonomous vehicles, however, the region is also considered as the earlier adopter of technology. Furthermore, the region is also considered the major hub for the semiconductor industries.
The eminent players in the market for flexible display of technology are helping the market reach the expected market valuation by the end of the future forecast period in 2023. Also, this report analyzes the performance of the key market players to predict the CAGR growth, as well as, draw a competitive market landscape in the forecast period ending in 2023. Some of the prominent players based on both regions, as well as, the international market are- Samsung (South Korea), Sony Corporation (Japan), Atmel Corporation (US), Universal Display Corporation (US), LG Display Co., Ltd (South Korea), Novaled AG (Germany), Dupont Display (US), Corning Inc. (US), Kent Displays Inc. (US), and Philips Electronics (Netherlands). There are various other players like Materion Corporation (US), E Ink Holdings Inc. (Taiwan), Innolux Corporation (Taiwan), AU Optronics Corporation (Taiwan), and Visionox Company (China) among others.
- Flexible Display Market size is estimated to grow sharply from 2019 to 2025 with the rising adoption of OLED technology in several electronic devices such as smartphones, smartwatches, wearables, TVs, digital signages, and electronic shelf labels.
- The increasing acceptance of consumer electronics and the increasing demand for the smart wearable devices industry are laying off the flexible display market. Device manufacturers are inculpating these displays and lighting panels to give flexibility, lightweight structure, durability, and bendability to their devices
- A flexible display market also helps in advertising campaigns and promotional activities by using LED video walls and digital signages.
- The most valuable share in the flexible display market is held by the curved display panels that are witnessing major growth in various geographical regions.
The old traditional method of flexible display market has been shredded away and the new flexible displays have been adopted. With the advancement in technology, the use of electronic devices has been increased leading to an increase in demand and the supply of these gadgets. Although corona has imposed some disruptions if the issues have been wisely dealt with, the industry will again hit the boom in the market, as the young generation is dependent on these devices. If we see this regionally North America is dominating the market, however, the Asia Pacific region is not behind. Owing to the drivers and opportunities available, the market is forecasted to grow to a market valuation of USD 15 billion by the end of the forecast year in 2023. The market is expected to be growing at a CAGR of ~ 35 %. Surely, the market will increase to its double rate with the intended audience approach Associations, Organizations, Forums, And Alliances Government Bodies and Departments Original Equipment Manufacturers, Display Material Providers, Original Device Manufacturer, etc.
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Frequently Asked Questions (FAQ) :
The growth strategies being implemented in the market are – mergers & acquisitions, product launches, technology innovations, etc.
The different technologies used are Organic light emitting diode (OLED), Liquid crystal display (LCD), and Electronic paper display (EPD). The revenue impact of these technologies has been studied in the segmental assessment offered.
By material, the segments of the market are as follows – glass, polymer, and glass-reinforced plastic (GRP).
Some of the end-user industries assessed to contribute to market growth are automotive, transportation, government, aerospace, retail, utilities, and others.
Samsung (South Korea), Sony Corporation (Japan), Corning Inc. (US), Atmel Corporation (US), LG Display Co., Ltd (South Korea), Kent Displays Inc. (US), Novaled AG (Germany), Universal Display Corporation (US), Dupont Display (US), and Philips Electronics (Netherlands).