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2025-2034 Flexible Display Market Evolution: Disruptions, Innovations, and Untapped Opportunities
Flexible Display
What Is the Expected CAGR for the Flexible Display Market Through 2025?
In recent years, the flexible display market has witnessed exponential growth. The market is expected to expand from a size of $25.97 billion in 2024 to $34.12 billion in 2025, maintaining a compound annual growth rate (CAGR) of 31.4%. The growth observed during the historic period is associated with factors like the increased adoption of consumer electronics, investment in research and development, growth in the automotive sector, and the surge in the e-commerce industry.
What's the Projected Size of the Global Flexible Display Market by 2029?
The size of the flexible display market is projected to experience a significant surge in the coming years, expanding to $97.56 billion by 2029, with a compound annual growth rate (CAGR) of 30.0%. The predicted increase in this timeframe is due to factors such as the growing integration of smart homes, the expansion of the healthcare sector, the increased usage of smartphones, a rise in disposable income, and the upsurge of the gaming and entertainment sector. The key trends for the forecast period are wearable technology, holographic displays, IoT integration, environmentally friendly and sustainable manufacturing methods, as well as customization and personalization.
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Top Growth Drivers in the Flexible Display Industry: What's Accelerating the Market?
The swelling demand for devices that utilize OLED is predicted to propel the advancement of the flexible display market. OLED, or organic electroluminescent diode, is a type of LED that houses an emissive electroluminescent layer, enhancing the quality of the image. Most flexible displays utilize OLED as it ensures superior image quality even when the screen is bent or twisted. For example, LG, a South Korean consumer electronics firm, reported its highest annual revenue ever in its 2022 financial report published in January 2023. Sales exceeded $60 billion for the first time in its history, indicating a rise of 12.9% compared to 2021 when sales first surpassed roughly $52.70 billion. The reported revenue was $22.5 billion in 2022, a 10.3% increase from the prior year. Consequently, the escalating application of OLED displays in devices like smartphones and televisions is facilitating the growth of the flexible display market.
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What Are the Key Trends Driving Flexible Display Market Growth?
The rise of technological advancements is a notable trend observed in the flexible display market. Firms functioning within this domain are honing their technological capabilities to solidify their market position. Samsung Electronics, a developer of smartphones, laptops, and televisions based in South Korea, exemplified this trend in January 2022. They introduced new additions to their display offerings - MicroLed and Neo QLED - featured in their latest Lifestyle Television models. The new Neo Quantum Processor enables the television to manage its lighting and enhance the brightness and accuracy of all screen forms. Furthermore, it supports cloud gaming, on-screen multitasking, and an extensive array of advanced personalized features.
What Are the Main Segments in the Flexible Display Market?
The flexible display market covered in this report is segmented -
1) By Display Type: OLED (Organic Light-Emitting Diodes), LCD (Liquid-Crystal Display), EPD (Electronic Paper Display), Other Display Types
2) By Substrate Material: Glass, Plastic, Others Substrate Types
3) By Form Factor: Curved Display, Bendable and Foldable Display, Rollable Display
4) By Application: Smartphone and Tablet, Smartwatches and Wearables, Television and Digital Signage Systems, PC Monitors and Laptops, E-reader, Electronic Shelf Labels (ESLS), Vehicles and Public Transports, Other Applications
Subsegments:
1) By OLED (Organic Light-Emitting Diodes): Flexible OLED Displays, Foldable OLED Displays
2) By LCD (Liquid-Crystal Display): Flexible LCD Displays, Transparent LCD Displays
3) By EPD (Electronic Paper Display): Monochrome EPD, Color EPD
4) By Other Display Types: MicroLED Displays, Quantum Dot Displays
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Which Top Companies are Driving Growth in the Flexible Display Market?
Major companies operating in the flexible display market include BOE Technology Group Co. Ltd., LG Display Co.Ltd., Royole Corporation, Samsung Electronics Co. Ltd., Japan Display Inc., AU Optronics Corp., Innolux Corporation, Corning Inc., Sharp Corporation, Visionox Technology Inc., E Ink Holdings Inc., Koninklijke Philips N.V., Microtips Technology, Delta Electronics Inc., DuPont de Nemours Inc., Hewlett Packard Enterprise Development LP, Nokia Corporation, Sony Corporation, Atmel Company, Plastic Logic GmbH, Panasonic Corporation, Japan Display Inc., FlexEnable Limited, Chunghwa Picture Tubes Ltd., Huawei Technologies Co. Ltd., Innolux Corporation, AU Optronics Corp., TCL Electronics Holdings Limited, Microchip Technology Inc., Cambrios Technologies Corp.
Which Regions Will Dominate the Flexible Display Market Through 2029?
North America was the largest region in the flexible display market in 2024. The regions covered in the flexible display market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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