by The 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 electronic displays that are flexible and bendable, offering advantages such as lightweight, thinness, and durability. These displays are widely used in consumer electronics and automotive industries. They are integrated into smartphones, tablets, laptops, TVs, wearables, and automotive dashboards. The increasing demand for flexible, lighter, and portable displays with better functionalities is driving the market growth. Additionally, the trend of miniaturization in consumer electronics and the growing adoption of electric vehicles are further propelling the market expansion.
Market Dynamics:
The market dynamics of the flexible display market are driven by two main factors. Firstly, the increasing demand for smartphones and other consumer electronic devices is fueling the growth of the flexible display market. With advancements in technology, consumers are looking for innovative and visually appealing displays. Secondly, the rising adoption of flexible displays in the automotive industry is driving market growth. These displays are integrated into dashboards, offering enhanced features such as touch-screen controls and infotainment systems. The automotive industry’s focus on advanced technologies and the growing demand for electric vehicles are boosting the demand for flexible displays. Overall, the market for flexible displays is expected to witness high growth in the coming years.
SWOT Analysis:
Strength: The Global Flexible Display Market has experienced significant growth due to its numerous advantages, such as light weight, thinness, and improved visual quality. Additionally, the increasing demand for portable electronic devices further drives the growth of the market.
Weakness: One of the weaknesses of the flexible display market is the high cost of production. Manufacturing flexible displays involves complex processes and requires advanced technologies, contributing to higher production costs. Another weakness is the limited durability of some flexible displays, which may lead to shorter product lifecycles.
Opportunity: The growing demand for flexible displays in the automotive industry presents a significant opportunity for market growth. With the increased adoption of electric vehicles and the integration of advanced infotainment systems, flexible displays are being utilized to enhance the user experience. Furthermore, the rising popularity of wearable devices provides another opportunity for the flexible display market.
Threats: One of the threats to the flexible display market is the presence of alternative display technologies, such as organic light-emitting diodes (OLEDs), which offer similar benefits. The competition from these technologies could potentially hinder the growth of the flexible display market. Additionally, the impact of the COVID-19 pandemic on global supply chains poses a threat, as disruptions in production and distribution can affect the market.
Key Takeaways:
The global flexible display market is expected to witness high growth, exhibiting a CAGR of 34.7% over the forecast period (2023-2030) due to increasing demand for portable electronic devices and advancements in display technologies.
In terms of regional analysis, Asia Pacific is projected to be the fastest-growing and dominating region in the flexible display market. The region’s economic growth, high population, and strong presence of electronic device manufacturers contribute to its market dominance.
Key players operating in the flexible display market include LG Display Co. Ltd, Samsung Electronics Co Ltd, ROYOLE Corporation, BOE Technology Group Co. Ltd, and Huawei Technologies Co. Ltd. These players are investing in research and development to innovate and improve their flexible display technology, gaining a competitive advantage 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
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
