• US: +1-408-610-2300
  • Toll Free: +1-866-831-4085
  • Login / Register
Global Flexible Display Market Size, Forecast, 2025 | Industry Report

Flexible Display Market Analysis Report By Type, By Material Type, By Application, By Region And Segment Forecasts From 2019 To 2025

Report ID: MN17616396  |  Published: August 2020  |  No of Pages: 80
Format: Electronic (PDF)  |  Industry: Consumer Electronics  |  Publisher: Grand View Research

Industry Insights

The global flexible display market size was accounted for USD 6.98 billion in 2018 and expected to grow with a CAGR of 28.1% over the forecast period, from 2019 to 2025.  Factors such as growing adoption of display-based consumer electronic devices and increasing demand for light-weight, flexible, and energy-efficient gadgets are driving the market growth. Further, advancement in technology has led to introduction of state-of-the-art flexible displays, which is expected to open new business growth opportunities for industry players operating in this industry.

China flexible display marketConsumer electronics manufacturers are widely using flexible displays due to several advantages like lightweight, non-fragility, and durability. Further, the demand for Organic Light Emitting Diode- (OLED) based flexible displays is expected to witness exponential growth due to its advanced features. Moreover, growing adoption of smart wearable devices is expected to fuel the market growth during the forecast period. Therefore manufacturers are engaged in increasing their production capacities to meet the growing demand.  In addition, rising adoption of OLED-based gadgets such as VR headsets, mobile phones, digital cameras, tablets, laptops,and televisions among others is expected to contribute positively on market growth. However, a complex manufacturing process and high investment for OLED based flexible display can be a barrier for new entrants.

Growing adoption of flexible displays in automotive, healthcare and other industries is expected to open new avenues for market growth. Further, automakers are concentrating on integrating this display in vehicle interiors. For instance, in 2019, Samsung Corporation and Audi AG partnered to promote the Audi Prologue A9 Prototype car. This car includes high-resolution and flexible Samsung OLED displaynearby its gear stick to control the vehicle settings.

Type Insights

On the basis of type, the market is segmented into OLED, EPD, LCD, and others. In 2018, OLED accounted for more than 60% market share and projected to grow with a significant CAGR over the forecast period. OLED-based displays have high flexibility, energy-efficient, and therefore widely used in smartphones. In addition, they are lightweight and sleek in design as compared to LCD flexible displays. However, growing adoption of flexible display based e-readers is expected to boost the demand for Electronic Paper Display (EPD) in the next few years.

Application Insights

Based on the application, the market is fragmented into wearable, televisions, smartphones, E-readers, automotive, and others. The smartphone application segment is projected to grow with a significant CAGR of more than 12% during the forecast period. Government initiatives for smart city projects, introduction of digital signage with flexible displays is projected to widely used for advertising and map displays in the next few years.

In 2018, smart watches, wearable(excluding smartwatches), and the automotive segment collectively held 17% market share in terms of revenue. Flexible display market is expected to gain traction in the transportation and automotive sectors due to the increasing demand for navigation and infotainment systems to enhance user experience.

Material Type Insights

Based on material type, the market is segmented into plastic, glass, and metal. In 2018, the plastic segment accounted for the largest market share and further, expected to grow with a CAGR of 25% during the forecast period, from 2019 to 2025. This growth can be attributed to increasing shift from glass to plastic substrates, as it provides added advantage like lightweight, robustness, and size.     

Global flexible display market Flexible display manufacturers prefer plastic material owing to the growing demand for flexible and low-cost substrates, especially in the consumer electronics industry. However, glass material resists to gases and water vapor along with high durability. Therefore, key players are focusing on developing durable glass material, as plastic can be prone to creasing, scratching, and lose color over time. 

Regional Insights

Asia Pacific is expected to lead the global flexible display market and is projected to grow with CAGR of more than 25% over the forecast period. This high revenue share can be attributed to the growing demand for light-weight and compact electronic devices. In Further.growing number of smartphone users coupled with adoption of advanced technologies such as augmented reality and 3D display is expected to witness a positive impact on market growth in this region. Countries like India, Japan, China, and South Korea are leaders in manufacturing flexible displays. China is one of the leading manufacturers of flexible OLED screens across the globe. For example, China-based Chengdu factory manufacturers over 70 million flexible sheets for phone screens each year.

In 2018, North America held a market share of over 20% and expected to witness robust growth during the forecast period due to the growing demand for durable and lightweight electronic devices. Europe market for flexible display is projected to witness significant growth over the forecast period due to increasing demand for flexible display from the automotive industry.

Impact of COVID-19

The outbreak of COVID-19 is adversely impacting flexible display market growth. This pandemic has forced many companies to halt their business operations for reducing the effect of virus infection. This halt in business operations has directly decreased the sales of consumer electronics devices as well as affected consumer demand and availability of supply chain. Furthermore, COVID-19 is also adversely impacting the automotive sector. Thus the demand for flexible displays is expected to decrease to some extent during a pandemic situation.

However, smartphone manufacturers are expected to expand their product line which contains OLED flexible displays. Further, Chinese smartphone manufacturers are focusing to resume their flexible display production integrated with OLED panels, which is expected to surge the market growth during pandemic situation.

Flexible Display Market Share Insights

Key players are adopting strategies such as partnerships, collaborations, mergers, and acquisitions to strengthen their position in the competitive market. For example, in 2018, Royole Corporation introduced a foldable device FlexPai integrated with a flexible display. This device can be rolled, bent, and operated as both tablets and smartphones.

Leading players are investing in R&D to develop advanced designs in flexible displays for different consumer electronic devices. To sustain in competitive edge, they are also registering their patents. The major players include in this market are as follows:

  • BOE Technology Group Co., Ltd.
  • Corning Incorporated
  • Innolux Corp.
  • AU Optronics Corp.
  • E Ink Holdings, Inc.
  • Japan Display Inc.
  • LG Display Co., Ltd.
  • Royole
  • Samsung Electronics Co., Ltd.

Report Scope

Attribute

Details

The market size value in 2020

USD 11.3 billion

The revenue forecast in 2025

USD 39.2 billion

Growth Rate

CAGR of 28.1% from 2019 to 2025

The base year for estimation

2018

Historical data

2014-2017

Forecast period

2019-2025

Quantitative units

Revenue in USD million and CAGR from 2019 to 2025

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Type, material type, application, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; U.K.; Germany; France; China; India; Japan; Brazil; Mexico

Key companies profiled

BOE Technology Group Co., Ltd.; Corning Incorporated; Innolux Corp.; AU Optronics Corp.; E Ink Holdings, Inc.; Japan Display Inc.; LG Display Co., Ltd.; Royole; Samsung Electronics Co., Ltd.

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs.


Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Million Insights has segmented the global flexible displaymarket report on the basis of type, material type, application, and region:

• Type Outlook (Revenue, USD Million, 2014 - 2025)
    • LCD
    • OLED
    • EPD
    • Others

• Material Type Outlook (Revenue, USD Million, 2014 - 2025)
    • Glass
    • Plastic
    • Others

• Application Outlook (Revenue, USD Million, 2014 - 2025)
    • Smartphone
    • Smartwatch
    • Wearable (Excluding Smartwatches)
    • Television
    • E-reader
    • Automotive & Transportation
    • Others

• Regional Outlook (Revenue, USD Million, 2014 - 2025)
    • North America
        • The U.S.
        • Canada
    • Europe
        • U.K.
        • France
        • Germany
    • Asia Pacific
        • China
        • India
        • Japan
    • Latin America
        • Brazil
        • Mexico
    • Middle East & Africa

What questions do you have? Get quick response from our industry experts. Request More information
Key questions answered in the report include
key questions
We also offers customization on reports based on specific client requirement.
Request for Customization

Choose License Type

Research Assistance

Ryan Manuel
Ryan Manuel

Research Support Specialist, USA

  1. Phone: +1-408-610-2300
  2. Toll Free: +1-866-831-4085
  3. Email: [email protected]
  • World's largest premium report database
  • Transparent pre & post sale customer engagement model
  • Unparalleled flexibility in terms of rendering services
  • Safe & secure web experience
  • 24*5 Research support service
  • 100% Secure Payments
  • Our Promise
  • 100% Service Assurance
  • Market Monitoring
  • Service Flexibility
  • 24X5 Care available