Flexible Display Technology Market Analysis

Global Flexible Display Technology Market Overview:

Flexible Display Technology Market Size was valued at USD 19 Billion in 2022. The Flexible Display Technology market industry is projected to grow from USD 35 Billion in 2023 to USD 250 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 35.00% during the forecast period (2024 - 2032). The advancement in electronic technology and the increasing demand for products have driven the growth are the key market drivers enhancing market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Flexible Display Technology Market Trends

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  Increasing demand for connected and automated vehicles to boost market growth

  
  

The increasing demand for connected and automated vehicles is expected to drive the flexible display technology market. Flexible displays are thin, lightweight, and can be bent or curved, making them an ideal solution for use in automotive displays, including instrument clusters, center consoles, and infotainment systems. As the automotive industry moves towards connected and automated vehicles, the demand for advanced display technologies is increasing. These vehicles require displays that can provide real-time information and interact with the driver and passengers. Flexible displays provide a cost-effective solution, as they can be produced in large volumes and customized to fit a variety of shapes and sizes.

In addition to the automotive industry, flexible display technology is also being used in other industries, such as consumer electronics and healthcare. The demand for wearables and other portable devices is driving the demand for flexible displays. Flexible displays are also being used in healthcare applications, such as smart patches and medical sensors. The growing adoption of OLED (organic light-emitting diode) technology is also driving the flexible display technology market. OLEDs are thin, lightweight, and flexible, making them an ideal solution for use in flexible displays. OLED displays offer high resolution, color accuracy, and low power consumption, making them well-suited for use in portable and mobile devices. Overall, the increasing demand for connected and automated vehicles, wearables, and other portable devices, coupled with the growing adoption of OLED technology, is expected to drive the flexible display technology market in the coming years. Therefore, such factors related to Flexible Display Technology have enhanced the Flexible Display Technology market CAGR across the globe in recent years.

Flexible Display Technology Market Segment Insights:

Flexible Display Technology Type Insights

The Flexible Display Technology Market segmentation, based on type, includes Bendable, and Rollable. The bendable segment held the majority share in 2022 of the Flexible Display Technology Market revenue. Bendable displays are thin and flexible, allowing them to be bent and curved to fit a variety of form factors, making them ideal for use in wearable devices, smartphones, and other portable electronic devices. The rollable segment is also expected to grow in the coming years, as rollable displays offer similar advantages as bendable displays and can be rolled up or down to adjust the display size, which makes them well-suited for use in various applications such as signage, automotive displays, and consumer electronics.

Flexible Display Technology Application Insights

The Flexible Display Technology Market segmentation, based on application, includes Smartphones, tablets, laptops, smartcards, TV, wearable displays, digital signage, e-reader, electronic shelf label, and others. The smartphone segment held the majority share in 2022. In recent years, smartphones have been one of the primary drivers of the flexible display technology market due to their widespread adoption and the potential for innovative designs, such as foldable and rollable displays.

Flexible Display Technology End User Insights

Based on end users, the Flexible Display Technology Market segmentation includes Retail, Automotive. The retail segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2023-2030. Flexible display technology has significant potential in the retail industry, as it can be used to create innovative and engaging displays that capture customers' attention and enhance their shopping experience. For example, retailers can use flexible displays to create interactive signage, promotional displays, and digital shelf labels that can be easily updated and customized in real time. Flexible displays can also be used in various retail settings, such as stores, malls, and exhibitions. They can be used to create unique and dynamic visual displays that can be easily customized to showcase different products, promotions, or messages. Furthermore, they can be used to create immersive and interactive experiences that engage customers and encourage them to explore and interact with the products. These all factors for Flexible Display Technology positively impact the market growth.

Figure 2: Flexible Display Technology Market, by Type, 2022 & 2030 (USD Billion)

Flexible Display Technology Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia Pacific region will experience significant growth in the flexible display technology market in the coming years. Asia Pacific is home to some of the world's largest electronics manufacturers and consumers. As companies continue to innovate and develop new products using flexible display technology, they will likely drive the adoption and growth of the technology in the region. Additionally, the region has seen significant investments in research and development, particularly in countries like China, Japan, and South Korea. These investments are aimed at developing new technologies and products, including flexible display technology, that can support the region's growing consumer electronics and manufacturing industries. Finally, the large consumer base in Asia Pacific provides significant opportunities for companies to introduce and market new products and technologies. With a growing middle class and increasing consumer spending, there is significant demand for innovative and cutting-edge.

Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil

Figure 3: Flexible Display Technology Market SHARE BY REGION 2022 (%)

Europe’s Flexible Display Technology market accounts for the third-largest market share. Europe is a region with a well-established electronics industry, and it is also home to many prominent companies in the consumer electronics space. The European market for flexible display technology is driven by factors such as the region's growing demand for advanced consumer electronics, including smartphones, tablets, and wearables, as well as the increasing adoption of flexible displays in the automotive and aerospace industries. Additionally, the region has a strong focus on research and development, which has led to the development of new technologies and products in the flexible display space. Further, the Germany Flexible Display Technology market held the largest market share, and the UK Flexible Display Technology market was the fastest-growing market in the European region.

North America is a technologically advanced region with a large electronics industry, and it has traditionally been a significant market for consumer electronics. Additionally, the region has a strong and growing healthcare industry that is increasingly adopting innovative technologies. These factors could contribute to the growth of the flexible display technology market in the region. Furthermore, the demand for flexible displays is expected to increase as manufacturers introduce new and innovative products, such as foldable smartphones and tablets, flexible wearables, and other flexible electronic devices. Finally, the region has a significant number of research and development initiatives focused on flexible display technology, which could lead to the development of new and more advanced products. Moreover, the U.S. Flexible Display Technology market held the largest market share, and the Canada Flexible Display Technology market was the fastest-growing market in the North American region.

Flexible Display Technology Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Flexible Display Technology market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Flexible Display Technology industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Flexible Display Technology. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their global presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Flexible Display Technology industry must offer affordable products.

Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Flexible Display Technology industry to benefit customers and expand the market sector. Major Flexible Display Technology market players, including Samsung, Sony Corporation, Atmel Corporation, Universal Display Corporation, LG Display Co., Ltd, TCL, Dupont Display, Corning Inc., Kent Displays Inc., and Philips Electronics, and others, are attempting to increase market demand by funding R&D initiatives.

Samsung is a South Korean multinational conglomerate headquartered in Seoul. It is one of the world's largest technology companies, with businesses spanning a wide range of industries, including consumer electronics, semiconductors, home appliances, and telecommunications equipment. Samsung is the world's largest producer of smartphones and is best known for its Galaxy line of devices. The company also produces a range of other consumer electronics, including televisions, home theater systems, and smart home devices. In addition, Samsung is a major player in the semiconductor industry, producing a range of products, including memory chips and processors.

Sony Corporation is a Japanese multinational conglomerate corporation. The company has since grown to become one of the largest technology companies in the world, with businesses spanning a range of industries, including consumer electronics, gaming, music, film, and financial services. Sony is perhaps best known for its consumer electronics division, which produces a range of products, including televisions, cameras, home theater systems, and gaming consoles. In addition to consumer electronics, Sony also has a significant presence in the entertainment industry. The company's music division is one of the largest in the world, with a diverse portfolio of artists and music labels.

Key Companies in the Flexible Display Technology market includes

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  Samsung

  
  


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  Sony Corporation

  
  


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  Atmel Corporation

  
  


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  Universal Display Corporation

  
  


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  LG Display Co., Ltd

  
  


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  TCL

  
  


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  Dupont Display

  
  


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  Corning Inc.

  
  


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  Kent Displays Inc.

  
  


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  Philips Electronics among others

  
  

Flexible Display Technology Industry Developments

October 2023- On October 19, OnePlus introduced its first foldable smartphone, the OnePlus Open. The Chinese electronics company describes the OnePlus Open as a contemporary flagship smartphone, with flagship-grade features, a slim design, and a lightweight form factor. The smartphone, priced at Rs 139,999, will be available for pre-order in India on October 19, with open sales beginning October 27.

The folding gadget measures 5.9mm at its narrowest point and weighs 239g. It's a book-shaped foldable, similar to the Samsung Galaxy Z Fold 5, with a flexible primary display and a secondary display on the cover. The primary foldable display is a 7.82-inch 2K AMOLED device with a variable refresh rate of 1 to 120Hz (LTPO 3.0). The display on the cover measures 6.31 inches. It also has a 2K AMOLED display with a customizable refresh rate of 10Hz to 120Hz. Both displays offer 10-bit colour depth and support the full DCI-P3 color gamut.

The OnePlus Open is powered by Qualcomm's Snapdragon 8 Gen 2 system-on-chip and comes with 16GB RAM and 512GB of on-board storage. It boots the Android 13 operating system-based OxygenOS 13.2 interface, which is filled with tools and features designed exclusively for the foldable form factor. These features include a desktop-style taskbar on the main display, as well as a recent folder for easy access to pictures, stored images, and other files. In addition, the Open Canvas functionality allows for multi-window splitting on the primary display. The OnePlus Open is powered by a 4,805 mAh battery with a 67W rapid wired charger.

The OnePlus Open boasts five cameras: three on the back, one on the main display, and one on the cover display. The rear camera system consists of a 48-megapixel primary sensor (Sony Lytia-808) with optical image stabilisation, a 64MP 3x telephoto with autofocus and OIS, and a 48MP ultra-wide-angle sensor with autofocus.

April 2023- Researchers at the University of Chicago's Pritzker School of Molecular Engineering created a material that can be bent in half or stretched to more than twice its original length while generating a fluorescent pattern. Wearable electronics and health sensors, as well as foldable computer screens, can all benefit from the material. The researchers created numerous prototypes using computational predictions for novel flexible electroluminescent polymers. The materials were flexible, stretchy, brilliant, resilient, and energy efficient, just as the model anticipated. The utilization of "thermally activated delayed fluorescence," which allowed the materials to transform electrical energy into light in a very efficient manner, was a significant aspect in their design. This third-generation organic emitter mechanism can deliver materials with performance comparable to commercial OLED technology.

November 2022- LG Display has developed a new prototype display that can fold, twist, and expand from 12 to 14 inches. The stretchy display has a resolution of 100ppi and can display full-color RGB images. The prototype was constructed by embedding tiny LEDs with pixel pitches of less than 40m into a silicon substrate often used in contact lenses. This, according to LG Display, gives it a consistency "similar to that of a rubber band" and allows it to be stretched by up to 20% in any direction.

Flexible Display Technology Market Segmentation

Flexible Display Technology Type Outlook

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  Bendable

  
  


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  Rollable

  
  

Flexible Display Technology Application Outlook

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  Smartphones, Tablets, Laptops & Smartcards

  
  


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  TV ,Wearable Displays, Digital signage & E-reader

  
  


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  Electronic shelf label

  
  


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  Others

  
  

Flexible Display Technology End-User Outlook

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  Retail

  
  


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  Automotive

  
  

Flexible Display Technology Regional Outlook

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  North America

  
  
  
  
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    US

    
    
  
  
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    Canada

    
    
  
  
  
  


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  Europe

  
  
  
  
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    Germany

    
    
  
  
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    France

    
    
  
  
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    UK

    
    
  
  
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    Italy

    
    
  
  
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    Spain

    
    
  
  
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    Rest of Europe

    
    
  
  
  
  


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  Asia-Pacific

  
  
  
  
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    China

    
    
  
  
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    Japan

    
    
  
  
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    India

    
    
  
  
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    Australia

    
    
  
  
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    South Korea

    
    
  
  
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    Australia

    
    
  
  
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    Rest of Asia-Pacific

    
    
  
  
  
  


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  Rest of the World

  
  
  
  
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    Middle East

    
    
  
  
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    Africa

    
    
  
  
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    Latin America