Press release
Flexible OLED Market size is Anticipated to Grow $117.7 Billion by 2031 | Registering a CAGR of 40.4%
Flexible OLED Market
The global flexible OLED market was valued at $4.1 billion in 2021, and is projected to reach $117.7 billion by 2031, growing at a CAGR of 40.4% from 2022 to 2031.
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OLED devices are electronic devices that use light-emitting thin films of hydrocarbon chains, rather than semiconductors loaded with heavy metals such as gallium arsenide phosphide, as in current LED technology. Those organic groups between two conductors with different work functions produce bright light using less energy. The structure of OLEDs started as a single layer and gradually evolved into two- and three-layers and their current multilayer anatomy.
Organic light-emitting diodes (OLEDs) have rapidly grown to become one of the leading technologies for full-color display panels and environmentally friendly light sources, due to their outstanding features such as excellent color quality, wide viewing angles, mercury-free manufacturing, exciting flexibility, etc. Various materials, device architectures, and processing techniques have been investigated to optimize device performance to meet the demands of lighting and display applications.
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Increase in demand for wider viewing angles is expected to significantly drive the revenue growth of the global flexible OLED market in the future. The popularity of smartphones has increased the demand for beautiful and efficient lighting panels. Rapid advances in technology have brought about positive cultural changes in developing countries.
Surge in need for social connectivity and entertainment is expected to boost demand for smartphones, which is expected to boost revenue growth of the flexible organic light emitting diode (FOLED) market during the forecast period. In addition, rise in disposable income drives increased adoption of new sleek display smartphones with curved and foldable screens. This is also expected to drive revenue growth in the FOLED market.
For example, Samsung Electronics Co. Ltd. launched the Samsung Z Flip 3 smartphones in 2019 and the Samsung Z Fold 3 smartphones with foldable screens in 2021. In addition, the growing need for high-quality images and brighter displays compared to other displays is expected to increase the demand for flexible OLED displays. Moreover, the growing need for a better viewing experience and lower energy consumption are expected to drive the revenue of the market in the near future.
Competitive Analysis:
The flexible OLED industry key players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.
Some of the major key players of the global flexible OLED industry include:
⦁ OSRAM GmbH
⦁ Ritdisplay Corporation
⦁ Corning Inc.
⦁ LG Display Co. Ltd.
⦁ AU Optronics Corp.
⦁ BOE Technology UK Limited
⦁ Visionox Company
⦁ Universal Display Corporation
⦁ Sony Group Corporation
⦁ Samsung Electronics Co. Ltd.
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Top Impacting Factors:
The most important factors that are projected to drive the flexible OLED display market growth during the forecast period are the growing use of smartphones and new, innovative products. An increase in smartphone penetration along with innovative product launches and numerous advantages provided by OLED technology are the major factors driving the market growth. The flexible OLED display market will encounter growth restrictions during the anticipated period due to the high manufacturing costs of OLED displays. Furthermore, the growing rivalry between OLED and LCD technology is anticipated to provide profitable opportunities in the flexible OLED market growth.
Key Benefits for Stakeholders:
⦁ This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the flexible OLED market analysis from 2021 to 2031 to identify the prevailing flexible OLED market opportunities.
⦁ The market research is offered along with information related to key drivers, restraints, and opportunities.
⦁ Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
⦁ In-depth analysis of the flexible OLED market segmentation assists to determine the prevailing market opportunities.
⦁ Major countries in each region are mapped according to their revenue contribution to the global market.
⦁ Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
⦁ The report includes the analysis of the regional as well as global flexible OLED market trends, key players, market segments, application areas, and market growth strategies.
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