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The global flexible display market is estimated to be valued at US$ 16.14 billion in 2023 and is expected to exhibit a CAGR of 34.7% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Flexible displays are thin, lightweight, and bendable screens that are widely used in various electronic devices such as smartphones, tablets, smartwatches, and televisions. These displays offer several advantages such as portability, durability, and enhanced user experience. The increasing demand for flexible electronics is driving the growth of the flexible display market. The need for flexible displays is associated with the growing consumer preference for portable and bendable devices that offer convenience and better visual experience.
Market key trends:
One key trend driving the flexible display market is the increasing adoption of smartphones and wearable devices. The demand for smartphones with large, curved, and flexible screens is growing as consumers seek enhanced visual experiences and innovative designs. Similarly, the demand for wearable devices such as smartwatches with flexible displays is also increasing. These devices provide seamless integration with the user’s lifestyle and offer improved functionality.
The Global Flexible Display Market is also witnessing a trend of technological advancements in flexible display technology. Manufacturers are continuously investing in research and development to develop advanced and high-performance flexible displays. This includes the development of foldable displays, rollable displays, and transparent displays, among others. These technological advancements are expected to further drive the growth of the flexible display market.
PEST Analysis:
Political: The political factors impacting the flexible display market include government regulations and policies related to the manufacturing and usage of display technologies. For example, governments may impose import/export restrictions and tariffs on display products, which can affect market dynamics.
Economic: Economic factors that influence the flexible display market include GDP growth, disposable income levels, and consumer spending patterns. The market is expected to witness high growth due to increasing consumer demand for smartphones, tablets, and other portable electronic devices.
Social: Social factors such as changing consumer preferences towards lightweight and flexible devices are driving the demand for flexible display technology. The market is also influenced by consumer lifestyle trends and preferences for innovative and visually appealing products.
Technological: Technological factors play a crucial role in the flexible display market. Advancements in display technologies, such as organic light-emitting diode (OLED) and electronic paper (E-paper), are driving the market growth. Technological developments also impact the manufacturing processes and cost-efficiency of flexible displays.
Key Takeaways:
The global flexible display market is expected to witness high growth, exhibiting a CAGR of 34.7% over the forecast period of 2023-2030. This growth is primarily driven by the increasing demand for smartphones, tablets, and wearable devices. The market size for 2023 is estimated to be US$ 16.14 billion.
In terms of regional analysis, Asia Pacific is expected to be the fastest-growing and dominating region in the flexible display market. This can be attributed to the presence of major consumer electronics manufacturers, such as LG Display Co. Ltd, Samsung Electronics Co Ltd, and BOE Technology Group Co. Ltd, in countries like South Korea and China.
Key players operating in the flexible display market include LG Display Co. Ltd, Samsung Electronics Co Ltd, ROYOLE Corporation, e-ink Holdings, BOE Technology Group Co. Ltd, Guangzhou Oed Technologies Co. Ltd, FlexEnable Limited, Chunghwa Picture Tubes Ltd, Huawei Technologies Co. Ltd, Sharp Corporation, Plastic Logic, Innolux Corporation, AU Optronics Corp., TCL Electronics Holdings Limited, Microtips Technology, and others. These companies are focusing on technological advancements and new product launches to gain a competitive edge in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
