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The global flexible display market includes displays that can be bent, rolled or folded without damaging the image quality. Flexible displays enable the development of next-generation electronic devices with advanced functionality. These displays provide enhanced optical performance, higher resolution images, wider viewing angles and more versatility in design compared to conventional displays. They allow manufacturers to develop thin, lightweight and portable devices. The growing demand for innovative display solutions from consumer electronics, automotive and healthcare industries is fueling investment in flexible display technology. Flexible displays can be integrated into curved surfaces, wearables and other unconventional form factors.
The global Flexible Display Market is estimated to be valued at US$ 16.14 Bn in 2023 and is expected to exhibit a CAGR of 34.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The adoption of flexible displays is expected to grow considerably over the forecast period owing to ongoing technological advancements. Major players are investing heavily in R&D to develop innovative and cost-effective flexible display manufacturing processes. For instance, LG Display has developed plastic OLED panels that can be folded and curved without damaging the display. Samsung has commercialized its foldable and rollable display products. Additionally, companies like Royole and BOE are expanding their flexible display production capacity. The automotive industry is increasingly adopting flexible displays for applications like center stack displays, digital instrument clusters and heads-up displays. Wearables manufacturers are also integrating flexible displays into smartwatches, augmented reality devices and smart glasses. Rising demand from these end-use industries will continue to drive the flexible display market forward in the coming years.
Key players: Key players operating in the flexible display market are LG Display Co. Ltd, Samsung Electronics Co Ltd, ROYOLE Corporation, 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. Key players are focusing on technological advancements, new product launches, partnerships and expansions to gain competitive edge in the market.
Regional analysis: Asia Pacific is dominating as well as the fastest growing regional market for flexible displays. Countries like China, South Korea, Japan and Taiwan are major manufacturing hubs for consumer electronics equipped with flexible displays. High investments in R&D of novel display technologies along with supportive government policies are driving the Asia Pacific market growth.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the flexible display market is moderate. Significant investments are required to establish manufacturing facilities for flexible displays. However, advancements in technologies have lowered the entry barriers.
Bargaining power of buyers: The bargaining power of buyers in the flexible display market is high. Buyers have several product alternatives from various established players operating in the market.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. The flexible display manufacturing requires diverse range of raw materials and components. However, established players work with multiple suppliers to avoid dependency on a single supplier.
Threat of new substitutes: Threat of substitutes is moderate. Advancements have led to the emergence of alternative display technologies. However, flexible displays offer unique features like flexibility and portability providing an edge over substitutes.
Competitive rivalry: The competitive rivalry in the market is high owing to presence of numerous international and regional players competing on the basis of product portfolio, quality, pricing and innovation.
Key Takeaways
The global Flexible Display Market is expected to witness high growth over the forecast period.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
