Flexible Displays Market to See Astounding 34.8% Annual Growth Through 2023

WELLESLEY, Mass., Jan. 31, 2019 /PRNewswire/ -- Remarkable technological advancements and strong demand from smartphone manufacturers are helping to push strong growth in the flexible display industry, according to a report by BCC Research.

The industry expects to see a compound annual growth rate (CAGR) of 34.8% through 2023, when it is forecast to reach $18.1 billion, according to the report "Global Markets, Technologies and Applications for Flexible Displays."

Major industry leaders mentioned in this report include LG, Samsung, Alphabet, Apple, NanoLumens and Sony.

Research Highlights

• Organic light-emitting diodes (OLEDs) will be the principal display technology for flexible displays. At their core, OLEDs are organic in the choice of substrates and open doors for full flexibility across all display layers.
• The emergence of curved screens has increased the market potential for manufacturers of smartphones, computer monitors and televisions.
• Developments in flexible display technology can not only provide new possibilities for traditional display products but also enable the creation of completely new product applications in the Internet of Things (IoT), smartwatch or wearable space.

"The display industry is an offshoot of the larger semiconductor device industry," the report notes. "It is characterized by major manufacturers making intense investments in their display lines and amortizing these investments over a number of years. The outlay runs into billions of dollars and no display manufacturer would risk setting up a unit unless there is a definitive assurance of significant financial yield. This dilemma is about to be addressed with major display makers and original equipment manufacturers alike committing to investing in flexible displays in the next 24 months."

Market Restraints Include Low Yields, High Costs
While the market for flexible displays is strong, several factors are conspiring to restrain growth. Chief among those are the market's low yields. While the theories supporting the technology and process have been proven to be sound, imperfections in the fabrication process persist. Meanwhile, the high costs of displays are offsetting consumer perceptions of the technology's value. So far, the benefits of these displays are not sufficient for mass adoption, and high prices only serve to deter purchasing.

Editors/reporters requesting analyst interviews should contact Eric Surber at [email protected].

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