Flexible Display Market to Reach USD 192 Billion by 2030, Driven by Technological Advancements and Rising Consumer Demand

Flexible Display Market to Reach USD 192 Billion by 2030, Driven by Technological Advancements and Rising Consumer Demand

 

According to Next Move Strategy Consulting, the global flexible display market is poised for significant growth, with its value projected to surge to an estimated USD 192 billion by 2030, reflecting a robust compound annual growth rate (CAGR) of 32% by 2030. This rapid expansion is driven by the increasing adoption of flexible displays in consumer electronics, including smartphones, laptops, smartwatches, and televisions, as well as advancements in display technologies such as OLED and AMOLED.

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Market Definition and Key Drivers

A flexible display, also known as a rollable display, is a cutting-edge display technology that offers the unique ability to bend, roll, or fold without compromising functionality or durability. Made from flexible materials like plastic or organic light-emitting diodes (OLED), these displays unlock new possibilities in form factors and device portability, enabling innovations in devices such as foldable smartphones, wearable tech, and rollable screens.

The market is witnessing heightened demand, primarily due to the surging global use of smartphones and other electronic devices. As reported by Gartner, over 1 billion smartphones were sold in 2021 alone, contributing to the growing need for advanced display solutions. This increased demand is bolstered by the advantages of flexible displays, which offer improved user experience, durability, and unique design capabilities.

Recent advancements in OLED technology, particularly those involving stretchable and bendable OLEDs, are paving the way for new applications, including medical devices, bendable smartphones, and wearable gadgets. A notable example is the 2023 development by the University of Chicago of a stretchable OLED display embedded in a flexible polymer matrix, a breakthrough poised to expand the market's potential.

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Technological Innovations and Emerging Applications

Flexible displays are also gaining momentum due to the growing demand for cutting-edge technologies such as quantum dot light-emitting diodes (QLED), which promise better image quality and flexibility. For instance, Sony launched its first QD-OLED smart TV at CES 2022, combining the benefits of OLED with the accurate color rendering of quantum dots.

Additionally, the automotive sector is seeing a surge in demand for flexible displays. In April 2023, Hyundai Mobis unveiled the world’s first rollable vehicle display made from flexible OLED technology, highlighting the potential for flexible screens in vehicle dashboards, infotainment systems, and heads-up displays.

Market Challenges and Future Growth Opportunities

Despite the promising market outlook, high manufacturing costs and the complexities of production remain barriers to widespread adoption. However, the introduction of new applications such as automotive displays and bendable smartphones is expected to present substantial growth opportunities in the coming years.

As the industry progresses, leading players in the flexible display market are intensifying their research and development efforts to overcome existing challenges while exploring novel applications across various sectors.

Market Segmentation and Regional Insights

The flexible display market is categorized based on material, type, component, technology, and application. Key material types include glass, plastic, and other substrate materials, while display types range from OLED and LCD to LED and EPD displays. Major applications span across smartphones, tablets, smart wearables, digital signage, and automotive displays.

Geographically, Asia-Pacific is expected to maintain dominance in the flexible display market, attributed to the strong consumer electronics industry in countries like China, Japan, and South Korea. China, in particular, leads global electronics production, with its large manufacturing base and government support for the sector. In addition, prominent companies such as LG Display, Samsung, and Panasonic continue to drive innovation in the region.

North America is also witnessing steady growth, particularly in the automotive sector, where companies like Harman are launching innovative display products such as Neo QLED Auto displays for enhanced in-cabin experiences.

Competitive Landscape

The flexible display market is highly competitive, with key players such as BOE Technology, LG Display, Samsung Electronics, Royole Corporation, E Ink Holdings, and many others leading the charge. Companies are increasingly focusing on strategic partnerships, joint ventures, and regional expansions to strengthen their market positions.

Recent notable innovations include Samsung’s development of a rollable display for laptops (revealed in May 2023), and FlexEnable’s launch of Flexible OLCD technology—an organic, glass-free display ideal for appliances, automobiles, and other commercial applications.

Conclusion

The flexible display market is set to undergo a transformative shift over the next decade, with rapid technological advancements and an expanding range of applications propelling its growth. As the demand for flexible display solutions continues to rise across various industries, key players in the market are well-positioned to capitalize on emerging trends and maintain their competitive edge.

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Next Move Strategy Consulting is a premier market research and management consulting firm that has been committed to provide strategically analysed well documented latest research reports to its clients. The research industry is flooded with many firms to choose from, what makes Next Move different from the rest is its top-quality research and the obsession of turning data into knowledge by dissecting every bit of it and providing fact-based research recommendation that is supported by information collected from over 500 million websites, paid databases, industry journals and one on one consultations with industry experts across a diverse range of industry sectors. The high-quality customized research reports with actionable insights and excellent end-to-end customer service help our clients to take critical business decisions that enables them to move beyond time and have competitive edge in the industry.

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