Global Flexible Displays Market Overview
Flexible Displays Market Size was estimated at 3.66 (USD Billion) in 2022. The Flexible Displays Market Industry is expected to grow from 4.34(USD Billion) in 2023 to 20.0 (USD Billion) by 2032. The Flexible Displays Market CAGR (growth rate) is expected to be around 18.51% during the forecast period (2024 - 2032).
Key Flexible Displays Market Trends Highlighted
Market Trends of Flexible Displays Market:
The Flexible Displays Market is driven by the increasing demand for lightweight, durable, and portable electronic devices. The market is also benefiting from the advancements in manufacturing technologies, which are enabling the production of flexible displays with higher resolution and improved flexibility. Key market drivers include the rising popularity of foldable smartphones, the emergence of wearable technologies, and the increasing adoption of flexible displays in various applications, such as automotive, healthcare, and advertising.
Recent trends in the market include the development of self-healing flexible displays, the integration of flexible displays into new product categories, and the increasing use of artificial intelligence (AI) in the design and manufacturing of flexible displays. Opportunities to be explored or captured in the flexible displays market include the development of new flexible display technologies, the expansion into new application areas, and the development of new business models.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Flexible Displays Market Drivers
Rise of Foldable and Rollable Devices
The flexible displays market is driven by the increases in the use of foldable and rollable devices, such as smartphones, tablets, and laptops. They require displays that can bend and fold without losing performance. As this trend is likely to gain momentum, the demand for flexible displays is likely to grow in the future.
Advancements in OLED Technology
The Flexible Displays Market Industry is driven by the advancements in OLED technology. OLED displays are better in terms of image quality, flexibility, and energy efficiency than traditional LCD displays. It is through the advancement of new materials and OLED manufacturing processes that OLED displays are now flexible, and they can be used across various devices.
Growing Demand for Wearable Devices
Another factor contributing to the flexible displays market is the rising popularity of wearable devices, including smartwatches and fitness trackers. They need flexible, lightweight, and low-power displays, and flexible displays are an ideal solution since they can be incorporated into wearable devices’ curved surfaces with ease.
Flexible Displays Market Segment Insights
Flexible Displays Market Panel Type Insights
The Panel Type segment of the Flexible Displays Market comprises Active-Matrix Organic Light-Emitting Diodes, Liquid crystal displays and Electrophoretic displays. The first type, AMOLED, is regarded as delivering superior display quality, the highest flexibility, and the widest color gamut; therefore, it currently dominates the market. It is based on the application of OLEDs, organic light-emitting diodes, to create the display. This adds to the contrast ratios, permits the widest viewing angles, and provides vibrant colors.
The beneficial property of AMOLED displays is the flexibility that permits their utilization in smartphones, tablets, or other devices. Their distinguishing advantage is the flexibility, which allows their utilization in smartphones and tablets, as well as wearable devices. Another type of display, LCDs, is comprised of liquid crystals for transmitting light, and they can also be divided into categories. They have provided reasonable image quality, low cost, and reduced flexibility.
Finally, EPDs use charged particles that are suspended in the liquid to produce the images.The low power consumption and high readability but only in the specific light are its beneficial properties. Analyzing the three types of panels, it should be noted that the highest market share belongs to AMOLED, as they are extremely flexible and provide the best display characteristics. A decent market perspective is predicted for EPD, as this type is convenient for some exclusive applications, such as e-readers or smartwatches, and its technology would continuously improve. The increasing market tendency is the demand for immersive visual experiences and the application of foldable devices.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Flexible Displays Market Application Insights
The application is a critical part of the Flexible Displays Market. It divides the market by the specific application of the flexible display devices. Such application segments include:
Smartphones and Tablets: flexible displays are widely used in the smartphones and tablets market and have gained a significant share of the market due to their versatile application. Bending smartphones and folding tablets are more long-lasting and thin devices with bigger touch screens. In 2023, the smartphones and tablets segment of the Flexible Displays Market garnered around 45% of the market’s revenue. However, it is expected that the segment’s growth rate will continue to decline.
Televisions and Monitors: flexible displays that allow for the creation of home screens with a contour or the ability to fold monitors to facilitate their transportation have been recognized by the television and monitor industries. The segment is expected to perform well in the future, driven by the growing interest in expensive home cinemas.
Wearable Devices: an example of an application for this segment are smartwatches and fitness bracelets, where the flexible screen allows for increasing their functionality and making the interaction of a user with a device more user-friendly. It is the segment that is expected to deliver the highest growth and to make the highest input into the global market by 2023.
Automotive displays: flexible displays are increasingly being used in cars to improve the interior of the cars and to equip them with advanced driver assistance systems. The factors contributing to the growth of the segment include improved visibility, absence of glare, and customization of the system for the driver.
Flexible Displays Market Transparency Insights
The Flexible Displays Market is segmented by Transparency into Transparent, Semi-Transparent, and Opaque. Transparent displays offer high visibility and are commonly used in augmented reality (AR) and virtual reality (VR) applications. Semi-transparent displays provide a balance between visibility and opacity, making them suitable for wearable devices and automotive dashboards. Opaque displays offer privacy and are often used in smartphones and tablets.
In 2023, the transparent display segment accounted for the largest share of the Flexible Displays Market revenue due to its high demand for AR and VR applications. The semi-transparent display segment is expected to experience significant growth over the forecast period, driven by the increasing popularity of wearable devices. The growth of the market is attributed to the increasing adoption of flexible displays in various applications, including smartphones, tablets, wearable devices, and automotive dashboards.
Flexible Displays Market Regional Insights
Regionally, the market is segmented into North America, Europe, APAC, South America, and MEA. North America is expected to dominate the market in 2023, accounting for a 35.4% share of the global revenue. APAC is projected to be the fastest-growing region, with a CAGR of 19.5% over the forecast period. The growth in APAC is attributed to the increasing demand for flexible displays in consumer electronics, such as smartphones and tablets. Europe is expected to account for a significant share of the market, with a CAGR of 17.8%. South America and MEA are expected to witness steady growth in the flexible displays market, with CAGRs of 16.3% and 15.7%, respectively.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Flexible Displays Market Key Players And Competitive Insights
Leading participants in the Flexible Displays Market industry are engaged in R&D activities, such as mergers, collaborations, and acquisition activities to enhance the innovation of a product. Key companies lead the way in developing the Flexible Displays Market. They develop various unique products that have improved features, including high resolution, flexibility, and durability. As they are the first to launch such products in the market, they have a higher level of demand as people are attracted to new, more advanced products.
Therefore, conclusions can be drawn that the Flexible Displays Market is highly competitive and has a huge demand for innovative products. The strategies used by the major players and minor players to grow and expand their business are causing rapid changes in the development of the Flexible Displays Market. This study and analysis help to build and shape an innovative product based on future trends to benefit the Flexible Displays Market's future growth. It helps existing companies to evolve and keep an edge over their competitors.
Samsung Electronics is the leading giant in the Flexible Displays Market. The company with huge profits is widely profitable in R. They have heavily invested in the business of OLED and have been one of the major suppliers of these flexible displays, whether they are for use in smartphones or other devices. Their continued investments in innovations will help them gain a greater share of the market. LG Display is also a leading company and a big competitor in this business.
They are densely involved both in the LCD and OLED segments. They are actively supplying flexible displays to manufacturers through their developed products, whether TVs, monitors, or automotive displays. They are also working on developing future OLEDs and increasing their product range to sell on a larger scale. BOE Technology is one of the leading Chinese display manufacturers in the Flexible Displays business.
They also invest in various advanced display products, such as OLED, flexible displays, etc. Their product production capacity is developing rapidly over the years. Japan Display is also one of the key players in this business. They are involved in huge demands of high-resolution flexible displays. They have heavily invested in OLED as well as LTPS LCD technologies. They have been supplying flexible displays for Samsung and other companies for their smartphones. They work in a customer-centric approach and in increased innovation.
Key Companies in the Flexible Displays Market Include
- Innolux
- Dalian Display Technology
- AU Optronic
- BOE
- JDI
- Tianma Microelectronics
- Visionox
- Sharp
- Royole
- Universal Display
- Toray Industries
- Mitsubishi Electric
- E INK
- LG
- Samsung
Flexible Displays Market Industry Developments
The Flexible Displays Market is expected to witness significant growth in the coming years, driven by increasing demand for flexible and foldable devices such as smartphones, tablets, and laptops. The market is expected to reach a valuation of USD 20.0 billion by 2032, expanding at a CAGR of 18.51% from 2024 to 2032. Recent developments in the market include the launch of new flexible display products by major players such as Samsung and LG. Additionally, the increasing adoption of flexible displays in various applications, including automotive, healthcare, and retail, is driving market growth. For instance, Samsung recently announced a new line of foldable smartphones with improved durability and functionality. Furthermore, BOE Technology Group Co., Ltd. invested over USD 1 billion in a new production line for flexible OLED displays, indicating growing confidence in the market's potential.
Flexible Displays Market Segmentation Insights
-
Flexible Displays Market Panel Type Outlook
- Active-Matrix Organic Light-Emitting Diodes (AMOLED)
- Liquid Crystal Displays (LCD)
- Electrophoretic Displays (EPD)
-
Flexible Displays Market Application Outlook
- Smartphones and Tablets
- Televisions and Monitors
- Wearable Devices
- Automotive Displays
-
Flexible Displays Market Transparency Outlook
- Transparent
- Semi-Transparent
- Opaque
-
Flexible Displays Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
3.66(USD Billion) |
| Market Size 2023 |
4.34(USD Billion) |
| Market Size 2032 |
20.0(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
18.51% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Innolux, Dalian Display Technology, AU Optronic, BOE, JDI, Tianma Microelectronics, Visionox, Sharp, Royole, Universal Display, Toray Industries, Mitsubishi Electric, E INK, LG, Samsung |
| Segments Covered |
Panel Type, Application, Transparency, Regional |
| Key Market Opportunities |
Foldable smartphones, tablets and laptops.Wearable devices such as smartwatches and fitness trackers.Automotive displays such as dashboards and rearseat entertainment systems.Healthcare applications such as medical imaging and patient monitoring.Commercial applications such as digital signage and interactive displays |
| Key Market Dynamics |
Growing adoption in consumer electronics.Technological advancements in materials and production processes.Increasing demand for curved and foldable devices.Expanding applications in the healthcare and automotive sectors.Rising investment in research and development |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Flexible Displays Market was valued at 4.34 billion USD in 2023 and is expected to reach 20 billion USD by 2032, exhibiting a CAGR of 18.51% during the forecast period.
Asia Pacific is expected to dominate the Flexible Displays Market throughout the forecast period, owing to the increasing demand for smartphones, tablets, and other portable electronic devices in the region.
Flexible displays find applications in various sectors, including consumer electronics (smartphones, tablets, laptops), automotive (dashboard displays, rearseat entertainment systems), healthcare (medical imaging, wearable devices), and military (heads-up displays, ruggedized devices).
Major players in the Flexible Displays Market include LG Display, Samsung Display, BOE Technology, AU Optronics, and Japan Display. These companies are continuously investing in research and development to enhance their product offerings and maintain their competitive edge.
Key growth drivers of the Flexible Displays Market include the rising demand for foldable and rollable electronic devices, advancements in display technologies (such as OLED and MicroLED), and the increasing adoption of flexible displays in various applications.
Challenges faced by the Flexible Displays Market include high production costs, technical limitations (such as durability and reliability issues), and the need for specialized manufacturing processes.
The Flexible Displays Market is expected to exhibit a CAGR of 18.51% during the forecast period from 2024 to 2032.
Key trends shaping the Flexible Displays Market include the integration of flexible displays with sensors and other electronic components, the development of transparent and stretchable displays, and the increasing use of flexible displays in wearable and implantable devices.
Flexible displays in the healthcare industry have potential applications in medical imaging, wearable health monitoring devices, surgical displays, and point-of-care diagnostics.
The Flexible Displays Market is expected to witness significant growth in the coming years, driven by the increasing adoption of flexible displays in emerging applications, such as foldable smartphones, wearable devices, and automotive displays.
