The Global Flexible Display Market size was estimated to be USD 6.8 billion in 2019 and is projected to reach USD 84.4 Billion by 2028 with a CAGR of 32.3% during the forecast period from 2020-2028. Increasing demand for smart electronic devices, mobile phones, and tablets is the contributing factor for the growth of the flexible display market.
Flexible displays are flexible in nature, contrary to the traditional displays used in most electronic devices. These displays are replacing flat pieces of glass or plastics in computer monitors, televisions, and mobile phones. They are durable as compared to traditional displays. They have better impact resistance and can also be bent. Currently, most companies are working on curved display technology, while several companies have already launched electronic products with flexible displays.
Some of the advantages of flexible display to that of flat display are:
Global Flexible Display Market, by Type:
Based on type, the flexible display market has been segmented into OLED, LCD, LED, and EPD. OLED is the dominant flexible display type used in the market due to its higher energy efficiency. OLEDs have very small form factor and hence, are easy to manufacture as individual pixel. OLED is gaining popularity due to its better image quality, simple design, and flexibility.
Global Flexible Display Market, by Substrate Material:
Based on the substrate material, the flexible display market has been segmented into glass, plastic, and others. Plastic accounted for the largest share and is expected to register the highest growth due to the paradigm shift from glass substrate to plastic substrate. Plastic substrate offers lighter weight, robustness, and flexibility in terms of size and design.
Global Flexible Display Market, by Application:
Based on application, the flexible display market has been segmented into smartphones & tablets, smart wearables, televisions & digital signage systems, personal computers & laptops, monitors, vehicle & public transport, smart home appliances, and others. The smartphones & tablets segment is anticipated to capture the largest market share in 2020 and is anticipated remain the largest till the forecast period.
Global Flexible Display Market, by Region:
Based on region, the global flexible display market has been segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Asia-Pacific dominated the global flexible display market in 2019 and is expected to grow at the fastest rate. Key display manufacturers such as Samsung, LG, Sony, AUO, and E Ink Holdings have manufacturing bases in the region. It is the largest market for smartphone, tablet, television, and other electronic products. Moreover, China, Japan, South Korea, and Taiwan are the leading flexible and traditional display manufacturing countries globally.
COVID-19 Impact on Global Flexible Display Market:
The QMI research team has been constantly monitoring the COVID-19 impact on the flexible display market across regions and countries. The imposition of lockdowns in major countries across the globe has caused huge economic loss in terms of spending powers, job loss, closing down of many manufacturing segments, and weak market demand for various products and services across different flexible display applications.
Weak electronic equipment demand and poor vehicle demand have impacted the flexible display demand, mainly in Asia Pacific and Europe regions. But it is anticipated that the demand for mobile phones, consumer electronics, and vehicles will surge in the coming years. All the recent and future developments associated with COVID-19 are considered while analysing market trends and making forecast in this study.
Global Flexible Display Market, By Type:
Global Flexible Display Market, By Substrate:
Global Flexible Display Market, By Application:
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