. The market has seen a significant increase in the recent past and is predicted to grow significantly during the forecasted period as well.
Unlike the conventional flat-screen displays found in most of the devices, flexible displays are rollable & bendable displays. These displays are built on a flexible substrate, which consists of materials like flexible plastic, flexible glass, or some other flexible material.
The Global Flexible Display Market is experiencing rapid growth due to advances in consumer electronics such as smartphones, wearables and televisions. New technological innovations are creating thinner displays with enhanced durability for an improved user experience - Samsung and LG continue leading this market with their cutting-edge flexible display solutions.
Demand for foldable smartphones and OLED displays has been one of the key contributors to market expansion. Consumer interest in portable and adaptable technology is pushing manufacturers to provide more flexible display options; this trend has also extended itself into automotive and wearable devices, further expanding market reach.
Opportunities in the global flexible display market are abundant, with applications across augmented reality (AR), virtual reality (VR), and smart textiles all increasing demand for flexible displays. Furthermore, as research and development increase performance and cost-efficiency of flexible displays new markets and applications will emerge providing substantial growth potential to industry participants.
The Flexible Display Market continues to grow with innovations in OLED and AMOLED technology. Companies like Samsung and LG are leading the way in developing foldable screens for smartphones and TVs. The demand for lightweight, durable displays in wearables and automotive sectors is also rising, further expanding the market’s potential.
As per electroiq LCD technology continues to dominate the display market, holding nearly 50% of the total market share in 2023. The revenue generated from LCDs reached approximately $65 billion USD, driven by their widespread use in various devices. Despite this, the rise of more advanced display technologies is beginning to slightly reduce LCD’s dominance.
The demand for high-resolution displays, such as 4K and 8K, is expected to peak at $24 billion USD in the coming years. Companies like Samsung lead the market in display technologies, including OLED and LED, which have grown in popularity for their improved visual quality and energy efficiency. Sustainability is also becoming a key concern for manufacturers.
The Asia Pacific region remains the largest market for display technologies, accounting for 30.5% of the global market share in 2023. By 2024, LCD’s market share is predicted to decline slightly to 48%, generating $69.6 billion USD in revenue. This shift is attributed to the growing adoption of OLED and micro-LED displays in various applications.
Market Dynamic
The global demand for flexible screens is primarily driven by the smartphone market, allowing various vendors to concentrate on this segment. Additionally, vendors are actively working on enhancing their presence in the TV & computer (laptops and desktop screens) sector, customizing their product offerings accordingly.
The initial market demand is expected to grow from emerging economies in the APAC, North America, & Europe, mainly within the consumer electronics sector, driven by the adoption of flexible
OLED displays. Also, flexible OLED is being recognized as a leading solution for the next-generation smartphone market, gaining traction even in markets with lower demand.
However, challenges like high initial costs, affordability concerns, intricate manufacturing procedures, fluctuating demand across seasons, & economic uncertainties could potentially hinder the market's growth during the forecasted period.
Research Scope and Analysis
By Type
The flexible display market is divided into various
display types, including LCD, OLED, EPD, and others, where the OLED segment holds a significant market share in 2023 & is projected to experience significant growth in the forecasted period. OLED-based flexible displays are becoming highly popular, particularly in smartphones, owing to their high flexibility, sleek design, energy efficiency, and lightweight nature, as they don't need backlighting or filters.
Also, the
Electronic Paper Display (EPD) type flexible displays are also expected to grow, supported by the growth adoption of flexible display-based e-readers, contributing to its future expansion.
By Material
Various materials are used as substrates in the production of flexible displays, like glass, plastics, and more. In 2023, plastic materials hold the largest market share, & it is expected to further expand during the forecast period, which is mainly attributed to a switch in trend from glass to plastic substrates because of the advantages plastic offers in terms of size, durability, & weight. Also, the increasing preference for plastic substrates is driven by the rising demand for affordable flexible materials, particularly in the electronics industry.
Moreover, glass substrates showcase excellent resistance to water vapor & other gases, making them highly durable. In response to plastic's vulnerability to scratching, creasing, & color degradation over time, players in the flexible display market are actively working on developing durable glass substrates.
By Application
Flexible displays find applications in a variety of products, like smartphones, smart wearables, TV & Digital Signage, automotive & transportation, and others. Among all, smartphones are anticipated for significant growth in the forecasted period, which is driven by the ongoing advancements in smartphone technology & the growth in adoption of flexible displays to improve user experience.
Moreover, the introduction of smart city initiatives is expected to lead to extensive use of flexible displays in digital signage systems for purposes like map displays & advertising in the coming years.
Also, in addition to smartphones, the automotive & transportation sector is experiencing growth in the utilization of flexible displays, which is driven by the increase in focus of automotive manufacturers on integrating innovative, state-of-the-art display technologies into infotainment & navigation systems. These advancements are focused on enhancing the overall user experience in vehicles, making the use of flexible displays highly adaptive in this industry.
The Flexible Display Market Report is segmented on the basis of the following
By Type
By Material
By Application
- Smartphones
- Smart Wearables
- Tv & Digital Signage
- Automotive & Transportation
- Others
Regional Analysis
The Asia Pacific region holds
the largest market share at 35.0% of the global flexible display market in 2023, & it's also anticipated significant growth in the forecasted period, which is attributed to the growth in demand for compact & lightweight electronic devices. Moreover, the increase in popularity of smartphones & the adaptation of advanced technologies like 3D displays & AR (augmented reality) are expected to drive growth in the region.
In addition, the presence of various consumer electronics manufacturers & a substantial customer base also fuels the demand for flexible displays in the region, as leading countries in flexible display development include China, Japan, South Korea, and India, with China being the top global producer of flexible OLED screens.
Also, North America made a significant contribution to the market in 2023, driven by growing demand for energy-efficient devices, while Europe is anticipated to experience notable growth in the coming years, mainly due to the automotive industry's substantial need for flexible displays.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
The flexible display market consists of several regional & global players and is moderately fragmented. Opportunities for growth come from the utilization of flexible screens in automobiles, along with the growth in popularity of smartphones & televisions. To strengthen their presence in the market, these companies are investing more in their R&D to enhance the reliability & affordability of the technology.
For instance, in February 2022, BOE introduced its innovative OLED flexible display technology capable of attaining both inward & outward folding, creating an "N" shaped foldable screen. The display prototype comes as a 12.3-inch flexible AMOLED display, which can be externally folded to an 8.6-inch size, & further folded inward to a compact, portable 5.6-inch form.
Some of the prominent players in the global Flexible Display Market are
- BOE Technology
- Microtips Technology
- LG Display
- Samsung Electronics
- AU Optronics
- Sharp Corp
- ROYOLE Corp
- TCL Electronics
- Innolux Corp
- Plastic Logic
- Other Key Players
COVID-19 Pandemic & Recession: Impact on the Global Flexible Display Market
The COVID-19 pandemic & the following economic recession had a huge impact on the global flexible display market. With people staying home & consumers spending less, there was a short-term halt in the production & adoption of flexible displays, mainly in industries like smartphones & automotive, as the need reduced, which led to a temporary setback in the market's growth, although the long-term potential remains promising as flexible displays continue to explore applications across different technologies & devices.
Report Details
| Report Characteristics |
| Market Size (2023) |
USD 27.2 Bn |
| Forecast Value (2032) |
USD 385.8 Bn |
| CAGR (2023-2032) |
34.3% |
| Historical Data |
2017 - 2022 |
| Forecast Data |
2023 - 2032 |
| Base Year |
2022 |
| Estimate Year |
2023 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Type (OLED, LCD, EPD, and Others), By Material
(Plastic, Glass, and Others), By Application
(Smartphones, Smart Wearables, TV & Digital
Signage, Automotive & Transportation, and Others) |
| Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
| Prominent Players |
RBOE Technology, Microtips Technology, LG Display,
Samsung Electronics, AU Optronics, Sharp Corp,
ROYOLE Corp, TCL Electronics, Innolux Corp, Plastic
Logic, and Other Key Players |
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