According to a new market research report published by Credence Research “Flexible Displays Market (By Applications – Smartphones, Wearables, Television Sets, Automotive Displays and Others; By Substrate: Glass, Plastic and Metal) – Growth, Future Prospects, Competitive Analysis and Forecast 2017 – 2025”, the global flexible displays market was valued at US$ 4,965.3 Mn in 2016 and is expected to grow at a CAGR of 26.5% during the forecast period from 2017 to 2025.
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Factors such as successful demonstrations of flexible display technology by some of the leading display manufacturers including Samsung Display and LG display have led to the growing demand for flexible electronics. Consumers all across the world have shown huge interest in smartphones and wearables which can be easily bended or folded as per their convenience. Thereby, display manufacturers have been working rigorously towards incorporating flexible display technologies into regular consumer electronics. Another key application expected to drive the demand for flexible displays in the near future is automotive displays. Auto-makers have been consistently investing in innovative display technologies to be used in various infotainment and navigation systems to ensure enhanced user experience. Flexible displays have offered exciting opportunities for design and development of convenient and intuitive automotive displays. With the ongoing production design of commercially viable electronics, the flexible displays market is expected to witness significant growth in the following years.
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The global flexible displays market is fairly niche with leading manufacturers of flexible displays experiencing limited demand from the mainstream consumer electronics industry. Major developers of the flexible display technology have been working towards increasing their production capacity in order to meet future demands. However, one of the major challenges faced by such companies is the lack of commercially viable designs for electronics. The consumer electronics industry has not been successful in completely embracing the flexible display technology and thereby, has lacked in incorporating the same into their products. Some of the key manufactures of flexible displays include Samsung Display, LG Display, TianMa Microelectronics Co., Ltd., Royole Corporation, E Ink Holdings, Inc., Futaba Corporation, UniPixel, Inc. and Plastic Logic Germany.
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- Market expected to be primarily driven by the demand from smartphones and wearables segment
- Manufacturers have been investing heavily to increase production capacity and to offer flexible displays at affordable prices
- Innovative applications especially in the automotive displays segment are expected to offer immense growth opportunities in the future
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