The flexible display 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 driven by a technological shift to and development of energy-efficient, attractive, and high-specification flexible display products.
Based on application, the PC monitors and laptops segment is expected to witness the highest growth during the forecast period. PC monitors are widely used for gaming, business, and personal or office work applications. The smartphones and tablets segment was the largest segment of the flexible display market in 2016.
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Based on technology, the OLED technology segment is expected to witness the highest growth during the forecast period. Samsung is a global leader in the manufacturing of Organic Light-emitting Diodes (OLEDs) for mobile devices.
Based on panel size, the up to 6″ segment is expected to witness the highest growth during the forecast period. Flexible displays with a panel size of up to 6″ are extensively used in portable devices, such as smartphones, tablets, smartwatches, and wearables applications.
The Asia Pacific (APAC) flexible display market is estimated to witness the highest growth during the forecast period. China, Japan, and South Korea, among others, are expected to be major markets in APAC. The presence of some of the major display manufacturers and technology providers and the rising demand for consumer electronics are some of the key factors expected to drive the growth of the flexible display market in the region.
Flexible Display Market By application, the vehicles and public transport segment is expected to grow at the highest growth rate during the forecast period
Vehicles such as cars and motorbikes, among many others, are the leading applications in the automotive domain. Displays utilized in cars range from small- to medium- and medium- to large-sized display panels. These displays can be used in dashboard displays, central control units, entertainment systems, navigation systems, security systems, and many other systems that help drivers in displaying the information. Public transport vehicles such as trains, planes, and ships also use panels for displaying the information for the advertising purpose. These display panels are usually large in size.
Flexible Display Market By technology, the LED-Backlit LCD segment holds the largest share of the market
The main display technology in the flexible display market is LED, or LED-backlit LCDs. LED-based display devices utilize LEDs for white backlighting the LCD panel. In conventional LCD devices, cold cathode fluorescent lamps (CCFLs) were used for backlighting; however, the display market has adopted LEDs for backlighting the LCD panel owing to its favorable features. Although cheap, CCFLs are not as energy-efficient as LEDs. Owing to the features offered and falling prices of LEDs, CCFL-backlit LCD TVs disappeared entirely.
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