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Flexible Display Global Market Report 2022
October 4, 2022 | Globe NewswireEstimated reading time: 3 minutes
The global flexible display market is expected to grow from $10.58 billion in 2021 to $14.34 billion in 2022 at a compound annual growth rate (CAGR) of 35.6%. The flexible display market is expected to grow to $44.72 billion in 2026 at a CAGR of 32.9%.
The flexible display market consists of sales of flexible displays by entities (organizations, sole traders, and partnerships) that are used in virtual reality (VR) headsets, digital cameras, laptops, and televisions.A flexible display refers to an electronic display printed on a foldable plastic membrane that can easily be twisted.
These displays can withstand being folded, bent, and twisted, and they are more flexible as compared to a flat display. These have better durability and are lightweight in nature.
The main types of flexible display are OLED (organic light-emitting diodes), LCD (liquid-crystal display), EPD (electronic paper display), and others.The OLED-based flexible displays are used in televisions, computer systems, laptops, and smartphones owing to their better image quality, high degree of flexibility, and consumption of less energy.
OLED refers to a light-emitting technology designed by placing organic films between two conductors.The different form factors include curved display, bendable and foldable display, and rollable display.
The various substrate materials used are glass, plastic, and others that are used in smartphones and tablets, vehicles, public transport, and other applications.
North America was the largest region in the flexible display market in 2021. The regions covered in the flexible display market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The flexible display market research report is one of a series of new reports that provides flexible display market statistics, including flexible display industry global market size, regional shares, competitors with a flexible display market share, detailed flexible display market segments, market trends and opportunities, and any further data you may need to thrive in the flexible display industry. This flexible display market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The rising demand for OLED-based devices is expected to propel the growth of the flexible display market going forward.An OLED refers to an organic electroluminescent (organic EL) diode, which is a light-emitting diode, that contains an emissive electroluminescent layer that gives good quality to the picture.
Most flexible displays are made of OLED displays because they give better picture quality even when the screen is bent and twisted. For instance, according to Displaydaily, a US-based technology news publisher, in 2019, there were 3.4 million OLED display TV units sold, and this number is expected to grow by 19% to $6.4 billion units by 2024. Also in 2019, 466 million units of OLED display phones were sold. Therefore, the rising use of OLED displays in devices such as smartphones and TV is driving the growth of the flexible display market.
Technological advancements have emerged as a key trend gaining popularity in the flexible display market.Major companies operating in the flexible display market are focused on technological advancements to strengthen their position in the market.
For instance, in January 2022, Samsung Electronics, a South Korea-based developer of smartphones, laptops, and televisions, launched new displays, namely, MicroLed, Neo QLED, in their new Lifestyle Television models.The Neo Quantum Processor allows the TV to control its lighting and enhance the brightness and accuracy of all shapes on the screen.
This contains cloud gaming, on-screen multitasking, and a wide range of cutting-edge personalized features.
In April 2019, LG Corporation, a South Korea-based electronics company acquired DuPont’s OLED technology for a deal amount of US $175 million.This acquisition helps LG Corporation to increase its product portfolio and improve technology that can reduce manufacturing costs and improve the quality of the picture.
DuPont de Nemours, Inc. is a US-based chemical and electronics manufacturing company including flexible displays.
The countries covered in the flexible display market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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