According to the market research report “Flexible Display Market by Application (Smartphone, Smartwatch, Wearable, TV, Digital Signage, PC Monitor, E-reader, Electronic Shelf Label, and Automotive), Technology (OLED, Quantum Dots, LED, E-Paper), Panel Size, and Geography-Global Forecast to 2022” , the market is expected to grow from USD 2.67 Billion in 2016 to USD 15.14 Billion by 2022, at a CAGR of 34.42% between 2017 and 2022.
The growth of this market is majorly driven by a technological shift to and development of energy-efficient, attractive, and high-specification products and the rising demand for smartphones, smartwatches, wearables, televisions, PC monitors, and laptops.
The smartphones and tablets segment were the largest market segment in 2016. The use of flexible displays in smartphones and tablets makes these more durable, as they offer stylish designs and better ergonomics to operate the devices.
The Organic Light-emitting Diode (OLED) technology segment is expected to witness the highest growth between 2017 and 2022. OLED is a display technology and can be used in various devices, including smartphones, tablets, laptops, smart watches, and wearables. For example, OLEDs are used in mobile phones, digital cameras, VR headsets, tablets, laptops, and televisions.
North America was the largest market in 2016, followed by the Asia Pacific and Europe. The US accounted for the largest share of the market in North America. Flexible displays are majorly used in smartphones, tablets, smart watches, and wearables. Leading companies offering devices and components include Apple, Inc. (U.S.) and Corning Incorporated (U.S.) are based in North America, which has helped the growth of the flexible display market in the region.
Major players operating in the flexible display market include Samsung Display Co. Ltd. (South Korea), LG Display Co., Ltd. (South Korea), Japan Display, Inc. (Japan), and BOE Technology Group Co., Ltd. (China), among others.
Submitted by: Mauli of marketsandmarkets