May 21, 2024

Flexible Display Market Propelled by Increasing Popularity of Foldable smartphones

Flexible displays are ultra-thin and lightweight displays that can be bent, folded or rolled up without damaging the screen. They offer enhanced portability and durability. With technological advancement, flexible displays are increasingly being used in smartphones, smart watches, TVs and other consumer electronics.

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.

Market key trends: The key trend propelling the growth of the flexible display market is the increasing popularity of foldable smartphones. Major smartphone manufacturers are launching highly innovative foldable smartphones integrated with flexible OLED displays. For instance, in 2019, Samsung launched Galaxy Fold and Huawei launched Mate X foldable smartphones. Other smartphone manufacturers are also expected to launch affordable foldable smartphones integrated with flexible displays in the coming years. This is expected to significantly drive the demand for flexible displays during the forecast period.

SWOT Analysis
Strength: Flexible display technology offers benefits like portability, durability and energy efficiency. It allows devices to be folded, rolled up and physically manipulated without damage.
Weakness: High production costs and manufacturing challenges related to flexible displays. Limited lifespan of flexible OLEDs compared to regular LCD/LED displays.
Opportunity: Growing demand for flexible smartphones, wearables and other consumer electronics will drive growth. Flexible displays can enable innovative form factors and interactive interfaces.
Threats: Stiff competition from established display technology manufacturers. Slow commercialization of truly flexible products may dampen consumer interest.

Key players operating in the flexible display market are 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. Samsung and LG Display are the major players in the flexible display market, accounting for the largest market share currently.

Regional analysis: Asia Pacific currently dominates the flexible display market and is expected to continue its dominance during the forecast period. Increasing demand for flexible displays from consumer electronics and automotive industry in China and South Korea is driving the growth of flexible display market in Asia Pacific.

Key Takeaways
The global Flexible Display Market is expected to witness high growth.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it