Flexible Display Market Size to Grow USD 28130 Million by 2030 at a CAGR of 27.9% | Valuates Reports
BANGALORE, India, July 8, 2024 /PRNewswire/ -- Flexible Display Market is Segmented by Type (Liquid Crystal Display (LCD), Organic Light Emitting Diode (OLED), Electronic Paper Display (EPD)), by Application (Smartphone, Tablet, Laptop, Smartcard, TV, Wearable Display): Global Opportunity Analysis and Industry Forecast, 2024-2030.
The Global Flexible Display Market was valued at USD 4882 million in 2023 and is anticipated to reach USD 28130 million by 2030, witnessing a CAGR of 27.9% during the forecast period 2024-2030.
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Major Factors Driving the Growth of Flexible Display Market:
The market for flexible displays is expanding quickly as a result of developments in display technology and rising consumer desire for creative and adaptable electronics. Compared to conventional rigid displays, flexible displays—which can be twisted, rolled, or folded—offer a number of benefits, such as increased durability and new design options. Their use in smartphones, wearable technology, televisions, and other consumer electronics has increased as a result. The market is further driven by consumers' increasing inclination for small, stylish gadgets and by major industry players' ongoing expenditures in R&D to enhance the functionality and productivity of flexible displays.
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TRENDS INFLUENCING THE GROWTH OF THE FLEXIBLE DISPLAY MARKET
The market for flexible displays is expanding at a substantial rate because of Organic Light Emitting Diode (OLED) technology, especially in the smartphone and tablet segments. When compared to typical LCD displays, OLED displays are preferred due to its greater image quality, which includes higher contrast ratios, faster reaction times, and better color accuracy. Their small, light weight, and flexibility enable the creation of cutting-edge gadget designs, such curved and folding screens, which are becoming more and more well-liked by users. Since OLED technology satisfies customer desire for svelte, highly functional, and aesthetically beautiful gadgets, its adoption by top manufacturers in flagship smartphones and high-end tablets is driving market expansion.
The flexible display industry is expanding at a substantial rate thanks to the usage of flexible screens in wearable technology. The development of lightweight, robust, and flexible screens that can follow the curves of the human body has been made possible by flexible OLED and e-paper technologies, which improves the wearable devices' use and comfort. These displays may be easily integrated into a variety of form factors, such as smartwatches, fitness trackers, and medical monitors. They also have excellent image quality and low battery consumption. Flexible display usage is speeding up and the market is developing as a result of customer desire for wearable technology that is both innovative and visually beautiful, as well as the increased emphasis on health and fitness monitoring.
Another important element propelling market expansion is the deployment of flexible displays by the automobile industry. Advanced infotainment, dashboard, and head-up display systems are becoming more and more common in modern cars. Flexible screens provide automakers the chance to create creative, curved, and ergonomic interfaces that improve the look and feel of their vehicles. Flexible displays are in high demand as a result of the rising trend towards connected and autonomous vehicles. These displays offer adaptable and aesthetically pleasing ways to integrate cutting-edge technologies into the interior of automobiles.
The market for flexible displays is being greatly impacted by the growing popularity of foldable smartphones. Leading smartphone makers are introducing foldable versions that provide bigger screens in smaller form factors by utilizing flexible display technology. Customers looking for rich viewing experiences and multitasking capabilities may find these devices appealing. Flexible display demand is being driven by the creative design and improved functionality of foldable smartphones, which are generating consumer attention and acceptance. The rivalry grows as more companies join the foldable smartphone space, which accelerates the development of flexible display technology.
The rising demand for foldable smartphones is having a significant effect on the flexible display business. Prominent manufacturers of smartphones are releasing foldable models that use flexible display technology to give larger screens in smaller form factors. These gadgets may be intriguing to customers who are searching for multitasking capabilities and rich viewing experiences. The need for flexible displays is being fueled by foldable smartphones' innovative designs and enhanced functionality, which are drawing interest and acceptance from consumers. The competition intensifies as more businesses enter the foldable smartphone market, hastening the advancement of flexible display technology.
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FLEXIBLE DISPLAY MARKET SHARE ANALYSIS
Because of the strong consumer electronics industry and the presence of large electronics manufacturers, the flexible display market in Asia-Pacific is expanding significantly. Leading nations in the creation and manufacturing of flexible display technology include China, Japan, and South Korea.
The fast commercialization of flexible displays is facilitated by the region's robust manufacturing base and significant expenditures in research and development. The use of cutting-edge display technology in products like smartphones, wearables, and televisions, together with the strong demand for cutting-edge consumer electronics, are further factors propelling market expansion in this area.
Key Players:
- Samsung Display (Korea)
- LG Display(South Korea)
- Hewlett-Packard Company (US)
- Atmel Corporation (US)
- Kent Displays (US)
- Universal Display Corporation (US)
- Novaled AG (Germany)
- DuPont
- Corning (US)
- Philips Electronics (Netherlands)
- Materion Corporation (US)
- AU Optronics (Taiwan)
- E Ink Holdings (Taiwan)
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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!
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- The global TFT-LCD market is projected to reach USD 90020 million by 2030 from an estimated USD 102250 million in 2024, at a CAGR of -2.1% during 2024 and 2030.
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