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Flexible displays refer to displays that can be bent, folded, or rolled up without damage and are finding use in a wide range of applications like smartphones, tablets, laptops, e-readers, monitors, automotive displays, and wearable devices. Flexible displays provide various advantages like lightweight, thin and durable design, shatter resistance, improved portability and ergonomics, and ability to be seamlessly integrated into various form factors and devices. Specifically, the growing demand for wearable devices like flexible smartwatches, smart glasses, wearable monitors, and others is driving the flexible display market.
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.
Flexible AMOLED displays are widely used in premium smartphones due to their thin design, vivid colors, and high contrast. Major smartphone manufacturers are integrating flexible AMOLED displays to offer advanced functionality and novel form factors to attract consumers. In addition, flexible displays are increasingly finding uses in notebooks, laptops, automotive displays, industrial IoT devices, retail signage, and increasingly in wearable devices like smartwatches, fitness trackers, virtual/augmented reality head mounted displays.
Market Dynamics:
Growing Applications in Wearable Devices: As mentioned in the heading, the growing demand for wearable devices like smartwatches, fitness trackers, VR/AR headsets is a major driver for the flexible display market. Flexible displays enable thinner, lightweight and wearable form factors for these devices without compromising on functionality. Manufacturers are launching innovative smartwatch and VR/AR headset models integrated with flexible AMOLED displays.
Advantages over Conventional Displays: Flexible displays deliver compelling advantages over traditional rigid displays like lower power consumption, shatter resistance, durability, and portability. They enable slimmer and more versatile device designs. Manufacturers are leveraging these benefits to launch premium and novel electronic product lineups integrated with flexible displays. This increasing replacement of conventional displays with flexible alternatives is propelling market growth.
Segment Analysis
The global flexible display market is dominated by the curved display segment accounting for around 37% of the total market share in 2024. This is because curved displays provide an improved viewing experience by wrapping the screen around the viewer. The bezel-less display segment is expected to witness the fastest growth during the forecast period due to the rising demand for smartphones and televisions with minimal bezels from consumers.
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. LG Display and Samsung Electronics captured over 60% of the market share in 2024 owing to their early investments and strong brand recognition.
PEST Analysis
Political: There are supportive regulations in various countries for the adoption of flexible displays in applications such as healthcare, transportation, and consumer electronics. This is encouraging investments and innovations in the flexible display industry.
Economic: The rising disposable incomes and decreasing panel prices are increasing the demand for portable consumer electronics with flexible displays. This is positively impacting the economic growth of the flexible display market.
Social: The growing popularity of wearable devices and foldable smartphones among the young population is a major driver of social change. This social trend is benefiting companies producing flexible AMOLED panels.
Technological: Advancements in flexible materials such as plastic substrates, plastic transistors and bendable glass are enabling the mass production of flexible displays at competitive prices. New production technologies are also driving the development of innovative applications.
Key Takeaways
The global Flexible Display Market is expected to witness high growth during the forecast period due to the rising applications of flexible displays in smartphones, tablets, notebooks, monitors, and television screens.
The Asia Pacific region dominated the global market in 2024 with a share of over 40% owing to strong manufacturing base of major players such as LG Display, Samsung, and BOE in countries such as South Korea and China.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- 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.
