Jun 29, 2020: The global flexible display market size is estimated to reach USD 39.19 billion by 2025, expanding at a CAGR of 28.1% over the forecast period, according to a study conducted by Grand View Research, Inc. Rising adoption of portable electronic devices is the major factor driving the growth. Flexible displays are lightweight, energy-efficient, and shatter-proof, which, in turn is driving their adoption for smartphone manufacturing.
Rising sales of consumer electronics, such as wearable devices, bendable TVs, and foldable laptops are expected to proliferate the demand for flexible displays during the forecast period. Furthermore, technological advancements in the manufacturing process of flexible Organic Light Emitting Diodes (OLED) has boosted the demand over the past few years.
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Rising demand from industries, such as healthcare and automotive has opened new growth avenues for the flexible display market. Automotive manufacturers are focusing on integrating flexible displays in automotive interiors. For instance, in May 2019, Samsung Corporation and Audi AG formed a strategic partnership to push Audi's concept car, Audi Prologue A9 Prototype. The proposed car is expected to house a flexible, high-resolution Samsung OLED display near the gear stick helping driver control vehicle settings.
Flexible display manufacturers are investing huge amounts in R&D in a bid to develop energy efficient products. In 2018, a total of 20,590 individual patents/applications were filed by the companies such as Sony Corp., Philips, Samsung Corporation and others. In October 2018, Royole Corporation, a flexible display and smart devices manufacturer, launched FlexPai, a foldable device which can be bent, rolled, and operated as a smartphone as well as tablet.
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Thus, technological advancements in the field of displays are anticipated to provide sound growth opportunities to manufacturers and offer customers high-quality touch screen displays. However, huge capital investment requisite to manufacturing flexible substrate is expected to hamper the market growth during the forecast period.
Further key findings from the study suggest:
- The OLED display segment is expected to register significant CAGR of more than 20.0% by 2025. The significant rise in adoption of OLED technology on account of its ability to reproduce full range picture without a stacked structure, keeping the picture quality intact, is expected to bode well for the segment growth
- The plastic material segment accounted for over two-third of the total market share in terms of value in 2018 and is expected to expand at a CAGR exceeding 22.0% from 2019 to 2025. The dominance is majorly driven by the properties, such as durability and flexibility offered with respect to size and shape
- The smartphone application segment is expected to expand at a noteworthy CAGR of 25% over the forecast period. Flexible displays are lightweight and shatter-proof, which is anticipated to drive the demand
- Asia Pacific is expected to witness substantial growth in the forthcoming years, owing to the huge base of consumer electronics manufacturers along with the escalating demand for compact and light-weight electronic devices
- The flexible display market is characterized by high competition with the presence of established players, such as BOE Technology Group Co., Ltd.; Corning Incorporated; Innolux Corp.; AU Optronics Corp.; E Ink Holdings, Inc.; Japan Display Inc.; LG Display Co., Ltd.; Royole; Samsung Electronics Co., Ltd.; and Sharp Corp. (Foxconn) among others
- These players are making huge R&D investments in R&D to develop cost-effective material substrates for use in flexible displays. Companies are aggressively patenting technologies to get competitive advantage
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Rising sales of consumer electronics, such as wearable devices, bendable TVs, and foldable laptops are expected to proliferate the demand for flexible displays.
Furthermore, technological advancements in the manufacturing process of flexible Organic Light Emitting Diodes (OLED) has boosted the demand over the past few years.Rising demand from industries, such as healthcare and automotive has opened new growth avenues for the flexible display market.
For instance, in May 2019, Samsung Corporation and Audi AG formed a strategic partnership to push Audi’s concept car, Audi Prologue A9 Prototype.
The proposed car is expected to house a flexible, high-resolution Samsung OLED display near the gear stick helping driver control vehicle settings.Flexible display manufacturers are investing huge amounts in R in a bid to develop energy efficient products.
In 2018, a total of 20,590 individual patents/applications were filed by the companies such as Sony Corp., Philips, Samsung Corporation and others.
In October 2018, Royole Corporation, a flexible display and smart devices manufacturer, launched FlexPai, a foldable device which can be bent, rolled, and operated as a smartphone as well as tablet.Thus, technological advancements in the field of displays are anticipated to provide sound growth opportunities to manufacturers and offer customers high-quality touch screen displays.
Global Flexible Display Market 2018-2023:Flexible Display market size will grow from in 2017 to by 2023, at an estimated CAGR of .
This also makes the market highly dynamic in nature.
Get Sample Copy of Global Flexible Display Market @ http://orbisresearch.com/contacts/request-sample/2200749 By Market Players: Samsung Electronics Co. Ltd. , Japan Display Inc. , Universal Display Corporation , Atmel Corporation , Panasonic Corporation , Koninklijke Philips N.V. , Sharp Corporation , LG Display , Sony Corporation , Delta Electronics Inc. By Form Factor Curved Display, Bendable and Foldable Display, Rollable Display By Technology OLED, EPD, LCD, Others By Application Military Equipment, Smartphone, Computer and Peripherals, Wearable Devices, Television, Others The prime objective of this report is to help the user understand the market in terms of its definition, segmentation, market potential, influential trends, and the challenges that the market is facing.
Points Covered in The Report: The points that are discussed within the report are the major market players that are involved in the market such as manufacturers, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
Finally, the report contains the conclusion part where the opinions of the industrial experts are included.
Assess the production processes, major issues, and solutions to mitigate the development risk.
