The global flexible display market has made gigantic strides on account of the presence of many global giants constantly investing in research and development to come up with more cutting-edge products. This also makes the market highly dynamic in nature. Such keen companies have not just invested in product development and launches, but also resorted to strategic collaborations, partnerships, and mergers and acquisitions to bolster their positions further.
Flexible displays, which have technologically superior display structure that are conformal and flexible, have majorly dented the market share of traditional displays, which are heavy and rigid. Besides this basic property, further leading to their swift uptake is the constant innovation that has resulted in more sophisticated products. Increasing sales of consumer electronics like wearable devices, smartphones, and television and computer peripherals is also serving to drive demand in the global flexible display market. This is because flexible displays are used in portable electronics on account of their durability and bendable nature.
Owing to so many factors pushing up demand, the global flexible display market is slated to see a turbo-charged growth in the upcoming years. A report by Transparency Market Research, estimates the market will register a phenomenal CAGR of 33.5% from 2017 to 2025. Rising at this pace the market will likely become worth US$47.892 bn by 2025 from US$4.5 bn in 2016.
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Curved Display Segment Leads Market due to Immersive Viewing Experience Accorded by It
The global flexible display market can be divided into curved display, bendable and foldable display, and rollable display depending upon the form factor. Currently, the curved display accounts for most of the share in the market as the curved design of the display appeals most to the human eyes on account of a wider viewing angle. The near panoramic images make viewers feel like they are a part of it. The concave screen of flexible display adopts optimal visual design so that the free viewing angle provides undistorted and vivid images.
Asia Pacific to Clock 39.3% CAGR due to Investment in Research and Development
North America, which is home to many prominent manufacturers, is a leading region in the global flexible display market. Another factor that is majorly fuelling growth in its market is the Army’s Flexible Display Centre (FDC) at Arizona State University (ASU) which is designing flexible display technologies for soldiers so that they can better their operational field capabilities. The soldiers are also being supplied with large lightweight displays and more rugged systems for portable and vehicle applications. The market is slated to be worth US$18.2 bn by 2025 by clocking a CAGR of 35.9% from 2017 to 2025.
Europe trails North America in the global flexible display market vis-à-vis market share. This is because Europe is one of the main markets for semiconductors in the world. Additionally, increasing concerns about sustainability and eco-friendliness and green initiatives adopted by different sectors as a part of their social responsibility has led to the surging popularity of flexible displays which have reduced impact on the environment.
Asia Pacific, powered primarily by China, India, and Japan, is however expected to outpace all others in terms of growth. The TMR report predicts the market in the region to rise at a 39.3% CAGR between 2017 and 2025. This is because of a strong focus on research and development in the area and the solid presence of a consumer electronic devices manufacturing sector.
Key participants in the global flexible display market are Panasonic Corporation, Samsung Electronics Co. Ltd., Universal Display Corporation, Atmel Corporation, Koninklijke Philips N.V., Sharp Corporation, and LG Display.
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Global Flexible Displays Market to Expand with Innovations in Electronic Manufacturing
The electronics industry has become increasingly focused on tapping into the design sensitivities of the masses. The growing inclination of the people towards adopting new and innovative technologies has brought flexible displays under the spotlight of attention. Moreover, the use of flexible displays in nascent models of cell phones and iPads shall also fetch fresh revenues for the vendors existing in the global flexible displays market. Although a major share of the electronic display domain continues to be dominated by traditional, static displays, the use of flexible displays is also gathering momentum at a palpable pace. Henceforth, the global flexible displays market is projected to expand at a tremendous pace in the years to follow.
- The COVID-19 pandemic has had a negative effect on the spending and paying capacity of the masses. Therefore, the sale of electronic devices has become slower as against its previous rate of sales. This could also mean lowered manufacturing and sale of flexible displays over the forthcoming phases. However, the vendors operating in the global flexible displays market are leaving no stone unturned in mitigating the shocks of the pandemic. Their efforts include rigorous marketing, price alterations, and other strategic moves. In light of these factors, it is safe to assert that the global flexible displays market would expand at a sturdy pace in the times to follow.
The use of flexible displays in electronic watches and other personal accessories is redefining the dynamics of growth within the global market. It is worthwhile to note that TV and LCD screens with flexible displays are on the minds of several consumers in the contemporary age. This trend shall invariably prompt electronic manufacturers to work towards tapping into these requirements or aspirations of the consumers. Therefore, the global flexible displays market is at a sound juncture towards acquiring market expansion.
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