Flexible Display Market is projected to expand at a CAGR of 31.69% to reach a total market size of US$11.323 billion by 2022, from US$2.859 billion in 2017. This technology is being increasingly used on account of advantages it offers like ruggedness, lightweight, non-brittle nature, portability, and durability. Technological advancement and increasing application of flexible displays in smartphones, tablets, laptops and other consumer electronic devices are some of the key factors driving the market growth. Easy availability of raw material due to growth in the polymer industry and extensive research and development in this field are some of the additional factors boosting the demand for flexible displays over the forecast period.
By application, smartphone segment is expected to grow at a high rate. The penetration of mobile internet coupled with declining prices of smartphones has led to its increasing adoption across the globe. Moreover, increasing number of rural population using smartphones owing to increasing disposable income and developing ICT infrastructure, especially in developing countries, is significantly contributing to the smartphone segment growth. In addition, most importantly high speed innovation and launch of flexible display phone commercially is expected to augment the segment growth in years ahead.
Geographically, North America accounted for a large market share in 2016 owing to the presence of many key players in the United States. Moreover, North America is a large market for consumer electronics due to high disposable income of citizens coupled with urbanized society. However, Asia Pacific is expected to grow at the highest rate owing to rapid urbanization, especially in emerging economies of China and India. The large population base coupled with growing middle class income level and rising disposable income augments the adoption of devices like smartphones, tablets, and TV among others, and is expected to propel the flexible display market over the projected period.
Although the market is fragmented owing to the presence of various players, key players dominate the market share owing to their capability to invest in R&D and launching new products. Key vendors discussed in the report are Samsung, E Ink Holding, LG, Sony Corporation, Philips, Visionox, DuPont, and Japan Display Inc. Product innovation and extension is a key strategy being adopted by vendors to gain a competitive edge.
Flexible display market has been segmented by display type, application, and geography as below:
By Display Type
Notebook and Tablet
Europe Middle East and Africa
Middle East and Africa