Market Size of Flexible Display Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 15.22 Billion |
Market Size (2029) | USD 67.76 Billion |
CAGR (2024 - 2029) | 34.80 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Flexible Display Market Analysis
The Flexible Display Market size is estimated at USD 15.22 billion in 2024, and is expected to reach USD 67.76 billion by 2029, growing at a CAGR of 34.80% during the forecast period (2024-2029).
The growing demand for smartphones and wearable devices, and the increasing demand for connected technologies and other smart home products, are major factors driving the demand for flexible display technology.
- Flexible displays offer various advantages over conventional display technologies. They are lightweight, bendable, ultra-thin, shatter-proof, unbreakable, portable, and have low energy consumption. Although curved displays offer notable improvements over flat displays regarding viewing angle and depth of picture quality, they differ from flexible and foldable ones.
- The most significant advantage of flexible displays is their durability. Since this screen can be bent and manipulated, it tends to absorb fall and collision impact better than solid glass structures currently in application. Other potential applications of flexible displays in the future include the integration in clothing that changes color or pattern instantly as per the surroundings. The realization of this potential is expected to boost the demand for flexible displays significantly.
- The smartphone market drives the global demand for flexible screens. As a result, various vendors are increasing their focus on the smartphone segment. Apart from this, vendors are also focusing on enhancing their presence in the TV and computer (Laptops and Desktop screens) segment and innovating their product offerings accordingly. For instance, in January 2021, TCL CSOT launched two innovative products, a 6.7-inch AMOLED Rollable Display and a 17-inch Printed OLED Scrolling Display, at CES 2021.
- OLED display type has recently gained popularity due to its simplified design, better image quality, and limited flexibility. OLED screens do not involve backlighting and can be thinned and molded into specific shapes. OLED display types are currently expensive for large screens, such as televisions and computer monitors. However, they still gain benefits for economies of scale in this segment.
- Initial market demand is expected from emerging economies in the consumer electronics segment of APAC, North America and Europe, thereby driving the market due to the adoption of flexible OLED displays. As the flexible OLED is considered one of the best solutions for the next-generation smartphone market, this display technology is gaining shares even in a market with lesser demand.
- However, higher cost and affordability issues in the initial stage of availability, complex manufacturing processes, seasonal demand patterns, and uncertain economic outlook might hinder the market growth during the forecast period.
- COVID-19 had a detrimental influence on the market, especially during the initial phase of the pandemic as lockdown measures imposed across various countries disrupted the supply chain for phone and display production. However, with the consumer electronics market recovering quickly, driven by high demand for products such as smartphones, laptops, and so on, the flexible display market is expected to grow further during the forecast period.
Flexible Display Industry Segmentation
Flexible displays are rollable and flexible, unlike the traditional flat-screen displays used in most devices. These displays are built upon a flexible substrate which can be either plastic, metal, or flexible glass.
The scope of the study covers market dynamics and trends in Display Type (OLED, LCD, EPD (Electronic Paper Display), Other Display Types (LED)), Substrate Material (Glass, Plastic, Other Substrate Materials), Application (Smartphones and Tablets, Smart Wearables, Televisions, and Digital Signage, Personal Computers and Laptops, Other Applications), and Geography. The study also tracks the trends, opportunities, and COVID-19 impact on the flexible display market. The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.
By Display Type | |
OLED | |
LCD | |
EPD (Electronic Paper Display) | |
Other Display Types (LED) |
By Substrate Material | |
Glass | |
Plastic | |
Other Substrate Materials |
By Application | |
Smartphones and Tablets | |
Smart Wearables | |
Televisions and Digital Signage Systems | |
Personal Computers and Laptops | |
Other Applications (Vehicle, Public Transport, and Smart Home Appliances) |
By Geography | |
North America | |
Europe | |
Asia-Pacific | |
Rest of the World |
Flexible Display Market Size Summary
The Flexible Display Market is poised for significant growth, driven by the increasing demand for smartphones, wearable devices, and smart home products. This technology offers numerous advantages over traditional displays, such as being lightweight, bendable, ultra-thin, and energy-efficient, with enhanced durability due to its ability to absorb impacts better than solid glass. The market is witnessing a surge in interest from various sectors, including consumer electronics, where flexible OLED displays are gaining traction as a preferred solution for next-generation smartphones. Despite challenges like high costs and complex manufacturing processes, the market is expected to expand as researchers and manufacturers work towards making flexible displays more reliable and cost-effective.
The Asia-Pacific region is emerging as a key player in the flexible display market, with countries like China, Japan, and South Korea leading in development and adoption. The region's dominance is supported by advancements in material technologies and a strong presence of display manufacturing foundries. Major players such as Samsung and LG Display are investing heavily in R&D to enhance production facilities and introduce innovative products. The market is moderately fragmented, with opportunities in automotive applications and the growing adoption of flexible displays in smartphones and televisions. Strategic partnerships and technological advancements, such as BOE's foldable display technology, are further propelling market growth, with emerging trends in wearables also contributing to demand.
Flexible Display Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Attractiveness - Porter's Five Forces Analysis
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1.2.1 Bargaining Power of Suppliers
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1.2.2 Bargaining Power of Consumers
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1.2.3 Threat of New Entrants
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1.2.4 Intensity of Competitive Rivalry
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1.2.5 Threat of Substitute Products
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1.3 Industry Value Chain Analysis
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1.4 Technology Snapshot
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1.5 Impact of COVID -19 on the Market Ecosystem
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2. MARKET SEGMENTATION
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2.1 By Display Type
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2.1.1 OLED
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2.1.2 LCD
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2.1.3 EPD (Electronic Paper Display)
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2.1.4 Other Display Types (LED)
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2.2 By Substrate Material
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2.2.1 Glass
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2.2.2 Plastic
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2.2.3 Other Substrate Materials
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2.3 By Application
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2.3.1 Smartphones and Tablets
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2.3.2 Smart Wearables
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2.3.3 Televisions and Digital Signage Systems
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2.3.4 Personal Computers and Laptops
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2.3.5 Other Applications (Vehicle, Public Transport, and Smart Home Appliances)
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2.4 By Geography
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2.4.1 North America
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2.4.2 Europe
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2.4.3 Asia-Pacific
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2.4.4 Rest of the World
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Flexible Display Market Size FAQs
How big is the Flexible Display Market?
The Flexible Display Market size is expected to reach USD 15.22 billion in 2024 and grow at a CAGR of 34.80% to reach USD 67.76 billion by 2029.
What is the current Flexible Display Market size?
In 2024, the Flexible Display Market size is expected to reach USD 15.22 billion.