According to the report by Expert Market Research (EMR), the global flexible display market size is projected to grow at a CAGR of 33.5% between 2024 and 2032. Aided by the burgeoning demand for innovative display technologies in consumer electronics and other industries, the market is expected to grow significantly by 2032.
Flexible displays represent a revolutionary leap in display technology, characterised by their ability to bend, fold, and roll. These displays are made using organic light-emitting diode (OLED) technology or other flexible substrates, allowing for more versatile and durable screen designs. The flexibility opens up a plethora of possibilities for consumer electronics, including foldable smartphones, wearable devices, flexible TVs, and digital signage.
The primary driver of the flexible display market growth is the rapid advancement in OLED technology and the growing demand for lightweight, durable, and energy-efficient displays. The consumer electronics sector, especially the smartphone industry, is a significant contributor to this growth, with leading manufacturers continually innovating to incorporate flexible displays into their devices.
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Another significant factor is the increasing application of flexible displays in various industries, including automotive, where they are used for dashboard displays, and in advertising, for digital signage. The wearables market is also witnessing a surge in the adoption of flexible displays for smartwatches and fitness bands.
Geographically, the flexible display market is experiencing significant growth across various regions. Asia-Pacific, led by countries like South Korea, China, and Japan, is accounting for a significant portion of the flexible display market share due to its strong presence in the consumer electronics manufacturing sector. North America and Europe also hold substantial market shares, driven by technological advancements and high consumer spending on electronics.
Looking forward, the market is poised for exponential growth. According to the flexible display market analysis, the continued innovation in OLED technology and the exploration of new materials like graphene for display applications are expected to be key drivers of this market. The trend towards more interactive and immersive display experiences will further fuel the demand for flexible displays.
Flexible Display Market Segmentation
The market can be divided based on display type, substrate material, application, and region.
Market Breakup by Display Type
- OLED
- LCD
- EPD (Electronic Paper Display)
- Others
Market Breakup by Substrate Material
- Glass
- Plastic
- Others
Market Breakup by Application
- Smartphones and Tablets
- Smart Wearables
- Televisions and Digital Signage Systems
- Personal Computers and Laptops
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Flexible Display Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global flexible display market. Some of the major players explored in the report by Expert Market Research are as follows:
- LG Display Co., Ltd.
- Samsung Electronics Co. Ltd
- Huawei Technologies Co. Ltd.
- Innolux Corporation
- Royole Corporation
- Others
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