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The flexible display market size is forecast to increase by USD 18.5 billion and is estimated to grow at a CAGR of 10.08% between 2023 and 2028. The market is experiencing significant growth, driven by increased Research and Development (R&D) investments from key players and the advent of conceptual flexible display products. The trend towards lighter, thinner, and more flexible devices is fueling the demand for flexible displays, which offer enhanced durability and improved aesthetics. However, challenges remain, including the reduced shelf life of flexible displays due to their fragile nature and the high production costs associated with the complex manufacturing processes. Despite these challenges, the market is expected to continue its growth trajectory, with a compound annual growth rate (CAGR) of 25.6% from 2021 to 2028, according to a recent market analysis report. The report also highlights the potential applications of flexible displays in various industries, including consumer electronics, automotive, healthcare, and advertising, further expanding the market's growth opportunities.
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The Market is witnessing significant growth due to the increasing demand for flexible and adaptable displays in various industries. Flexible displays are finding extensive applications in smartphones, wearable devices, and connected technologies, including smart home products. The OLED display type is currently leading the market, with companies like TCL CSOT and Samsung leading the production. The AMOLED Rollable Display is a new innovation in the market, offering the potential for flexible screens that can be rolled up when not in use. The supply chain for flexible displays includes companies involved in the production of OLED screens, LCD screens, EPD, and the manufacturing of glass, metal, and plastic components. The smartphone market is the largest consumer of flexible displays, with laptops and desktop screens also adopting the technology. Televisions are also expected to join the trend, with companies like Stanford Research Institute exploring the possibilities of flexible OLED screens. The market is also seeing an increase in demand for curved and rollable displays, which offer a more immersive viewing experience. LCD and EPD displays are expected to face stiff competition from OLED screens in the market. The market is expected to continue its growth trajectory, driven by the increasing demand for flexible and adaptable displays in various industries. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increased R and D investments is notably driving market growth. The market is currently in its developmental phase, with the majority of revenue being generated from the research and development (R&D) divisions of end-users. With the surge in technological advancements in the smart devices sector since 2014, corporations have been investing heavily in R&D to create more durable, high-quality, and cost-effective displays.
Moreover, key players, such as LG and Samsung, have made significant investments in South Korea and Taiwan to expedite the production of innovative flexible displays, catering to the growing demand for advanced features in new hardware devices. Additionally, the aging population demographic is expected to fuel market growth, as there is a rising demand for flexible displays in healthcare and medical devices. Thus, such factors are driving the growth of the market during the forecast period.
The advent of conceptual flexible display products is the key trend in the market. Flexible displays are gaining traction in the market as technology companies continue to innovate and conceptualize new products. Samsung, Microsoft, and Apple are at the forefront of this trend, developing wearable devices and more integrated products using this technology. In the gaming industry, Sony and Microsoft are prototyping flexible screen consoles to enhance the user experience.
Additionally, television manufacturers such as Samsung and Sony have introduced curved screens and are now exploring the possibility of incorporating flexibility into these designs. The wearables industry is particularly driving the growth of the market as manufacturers conceptualize various applications for this technology. Temperature control is a crucial consideration in the production of flexible displays, as the raw material used must be kept at specific temperatures to maintain its flexibility. Thus, such trends will shape the growth of the market during the forecast period.
Reduced shelf life of products is the major challenge that affects the growth of the market. Flexible displays offer numerous advantages over traditional displays, including improved durability and flexibility. However, they also present challenges for manufacturers due to the rapid advancements in technology. Older versions of flexible displays may become obsolete as new, more advanced products enter the market. This competition can make it difficult for vendors to keep up with the latest technology, as users seek the newest innovations.
Additionally, factors such as temperature sensitivity and the need for advanced raw materials and transportation facilities can add complexity to the production process. The growing geriatric population, with its increased demand for portable devices, further emphasizes the importance of flexible displays. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AUO Corp: The company offers flexible micro LED display that satisfies the demand of fitting Central Information Display to interior shape with its dual panel, dual curvature stitching into an S shaped CID.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The smartphones segment is estimated to witness significant growth during the forecast period. The Market is witnessing significant growth due to the increasing demand for flexible displays in various consumer electronics, including smartphones, wearable devices, and connected technologies.
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The smartphones segment was the largest segment and was valued at USD 20.50 billion in 2018. OLED display type, such as AMOLED Rollable Displays, is gaining popularity in this market. TCL CSOT, a leading player, has recently announced the mass production of flexible OLED panels. In the smartphone market, laptops, desktop screens, televisions, and consumer electronics are the major applications for flexible displays. Wearables, such as smartwatches and E-readers, are also adopting this technology. The automotive and transportation industry is another potential market for flexible displays, particularly for curved and rollable displays. Hence, such factors are fuelling the growth of this segment during the forecast period.
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APAC is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The Market is experiencing significant growth due to the increasing demand for flexible and wearable devices in the consumer electronics industry. Smartphones and wearable devices, such as smartwatches and fitness bands, are leading the adoption of flexible displays. These displays offer advantages like lightweight, durability, and flexibility, making them ideal for portable devices. Connected technologies, including the Internet of Things (CIOT), are driving the demand for flexible displays in various applications, including smart home products and automotive & transportation. The market is witnessing innovation in flexible display technologies, such as OLED rollable displays, which are expected to revolutionize the market. Hence, such factors are driving the market in APAC during the forecast period.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
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The Market is witnessing significant growth, driven by the increasing demand for flexible displays in various applications such as smartphones, wearable devices, connected technologies, smart home products, and more. TCL CSOT, a leading player in the market, is making strides with its AMOLED Rollable Display. The market is segmented based on display type (OLED, LCD, EPD), technology (glass, metal, plastic), application (smartphones, laptops, desktop screens, televisions, consumer electronics, wearables, smartwatches, e-readers, automotive & transportation), and panel size. OLED displays, particularly, are gaining popularity due to their superior image quality, thin profile, and flexibility. The smartphone market and laptops are major consumers of OLED screens.
Moreover, televisions are also adopting OLED technology for curved and rollable displays. The market's growth is influenced by the supply chain's ability to meet the increasing demand for these displays. The market is expected to grow at a steady pace, driven by the demand for flexible displays in the smartphone market and the emergence of new applications in wearables, smart home products, and automotive & transportation. The market's growth is also fueled by the development of new technologies, such as polymer compounds, and the availability of a skilled labor force to manufacture these displays. The market landscape depends on curved Display, TV, Bendable and Foldable Display, Smartwatch, E-reader, Polymer compound, and Rigid display. The future of the market lies in the continuous innovation and improvement of these displays' size, share, and touch capabilities. The latest advancements in display technology include innovations like the Printed OLED Scrolling Display and curved displays, which enhance user experience across various devices, including TVs, smartwatches, and e-readers. A global industry analysis reveals the growing demand for flexible displays, driven by their applications in consumer electronics. Rigid displays remain popular, but the rise of polymer compounds is revolutionizing the market, enabling lighter and more versatile designs. Technology insights suggest that as manufacturers continue to invest in research and development, we can expect even more groundbreaking advancements in display technologies that cater to diverse consumer needs.
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Market Scope |
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Report Coverage |
Details |
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Page number |
154 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 10.08% |
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Market growth 2024-2028 |
USD 18.5 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
9.0 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 44% |
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Key countries |
US, South Korea, Japan, UK, and China |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AUO Corp., BOE Technology Group Co. Ltd., Corning Inc., E Ink Holdings Inc., Hannstar Display Corp., HP Inc., Innolux Corp., Kent Displays Inc., KLA Corp., LG Corp., Microtips Technology Inc., Panasonic Holdings Corp., Pioneer Corp., Plastic Logic HK Ltd., Royole Corp., Samsung Electronics Co. Ltd., Sony Group Corp., TDK Corp., Tianma Microelectronics Co. Ltd., and Visionox Co. |
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Market dynamics |
Parent market analysis, market report , market forecast , Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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