The flexible displays are the sleekest form of displays. This are lighter than any other form of displays, the flexible display offers various features such as its sleek and foldable nature which h increases its scope in the various end-user application. Flexible display market is driven by factors such as the rising growth in consumer electronic market, high adoption in entertainment and gaming. However the complex manufacturing process is major restraint hampering the growth of flexible display market
The global flexible display market is estimated to hit $4.5 billion by 2022 with a CAGR of 105% in the forecasted period of 2016-2022. The complex interference has made the flexible display manufacturing process complicated which is hindering growth of flexible displays in the global market. The increasing application in the various end-user segments such as television industry, smartphone and laptop industry etc. are creating huge opportunities for the flexible display market. OLED display technology is finding huge application in television industry, the 4K, 3D and curved OLED TVs are witnessing high demand due to their unique features such as ingenious curved screen, infinite contrast and richer colors.
The flexible display is segmented on the basis of type, component, technology, application and geography. By Type, it is further segmented in polymer, A-silicon, glass, glass reinforced plastics and others. Components are further segmented into organic material, substrate, conductive layer, backlight panel and others, on the basis of application the flexible display is sub segmented into flexible display application, transparent display application, photographic technology, 3D display. The flexible display market is also segmented on technology which is further segmented in E-ink, OLED, LED, LED-LCD, TFT-LCD, LCOS and many others. The increasing demand of 3D displays is giving robust growth in the flexible display market. Technological innovations and investment by the market players in various technologies are expected to boost the market to a new level, major companies like Apple and Samsung are coming with new mobile phones with OLED technologies which are expected to be brighter and intense than before.
Some of the major players of the market include Hewlett Packard co, SONY Corporation, Nokia, LG display Co. Ltd. and Samsung display these key players dominate the world market with 50% share of global flexible display market etc. mergers, acquisition, Innovation and expansion are some of the key strategies being adopted by the market players.
On the basis of geography North America, Europe, Asia Pacific and RoW are the major segments. North America has the largest market share among all geographies. APAC is the fastest growing region for the flexible display market which is expected to grow further in the forecasted period. Some of the reasons leading to the high growth of the flexible display market are high user of consumer electronics such as cell phones and laptops, APAC has approx. 7 billion users of smartphone, also APAC region is the native region of the leading companies such as Samsung and LG who dominates the world flexible display market.