July 23, 2024

Flexible Display Market Growing Demand for Bendable Screens Drives Market Growth

Market Overview:

Flexible displays are thin, lightweight, and highly durable screens that can be bent or rolled without breaking. These displays offer numerous advantages such as enhanced visibility, reduced weight, and improved portability. The need for flexible displays is associated with the growing demand for smartphones, wearables, and other electronic devices with curved or foldable screens. The market is driven by the increasing adoption of flexible displays in consumer electronics and the rising demand for flexible electronic products in automotive and healthcare industries.

Market Key Trends:

In the flexible display market, one key trend is the growing integration of flexible displays in automobiles. Automakers are incorporating flexible OLED (Organic Light Emitting Diode) displays in dashboards, infotainment systems, and rear-view mirrors to enhance the appearance and functionality of vehicles. These displays provide better visibility, reduced glare, and improved durability. They also enable seamless integration with various vehicle components and advanced driver-assistance systems. The integration of flexible displays in automobiles is expected to revolutionize the automotive industry by enhancing the user experience and enabling the development of futuristic smart vehicles.
PORTER’S ANALYSIS

Threat of new entrants: The threat of new entrants in the flexible display market is low. The market is highly capital-intensive, requiring significant investments in research and development, production facilities, and distribution networks. Additionally, established players in the industry benefit from economies of scale and strong brand recognition, making it difficult for new entrants to compete effectively.

Bargaining power of buyers: The bargaining power of buyers in the flexible display market is moderate. While buyers have a wide range of options to choose from, the market is dominated by a few key players who have significant market share. However, buyers still have the ability to negotiate on price and quality, especially for large orders.

Bargaining power of suppliers: The bargaining power of suppliers in the flexible display market is moderate. Suppliers of essential raw materials and components, such as flexible substrates and OLED panels, have some leverage due to their limited number and the specialized nature of their products. However, as the market continues to grow, suppliers face increased competition, which may reduce their bargaining power.

Threat of new substitutes: The threat of new substitutes in the flexible display market is low. Flexible displays provide unique advantages, such as bendable and foldable form factors, which cannot be easily replicated by traditional rigid displays. As a result, the demand for flexible displays is expected to remain strong, reducing the likelihood of substitution by alternative display technologies.

Competitive rivalry: The competitive rivalry in the flexible display market is high. The market is characterized by intense competition among major players, including LG Display, Samsung Electronics, and Royole Corporation. These companies engage in continuous research and development activities to innovate and gain a competitive edge. Additionally, the market is witnessing the emergence of new players, further intensifying the competition.

KEY TAKEAWAYS:

The Global Flexible Display Market Demand is expected to witness high growth, exhibiting a CAGR of 34.7% over the forecast period of 2023-2030. This growth can be attributed to the increasing demand for smartphones, tablets, and wearable devices, which require flexible displays to enable advanced features such as curved screens and touch-sensitive surfaces. The market is also driven by technological advancements in OLED and AMOLED display technologies, leading to improved performance and energy efficiency.

In terms of regional analysis, Asia Pacific is the fastest-growing and dominating region in the flexible display market. This can be attributed to the presence of major display manufacturers in countries like South Korea, China, and Japan. These countries have a strong manufacturing base, technological expertise, and a rapidly growing consumer electronics market, driving the demand for flexible displays.

Key players operating in the flexible display market include LG Display Co. Ltd, Samsung Electronics Co. Ltd, ROYOLE Corporation, e-ink Holdings, BOE Technology Group Co. Ltd, Guangzhou Oed Technologies Co. Ltd, FlexEnable Limited, Chunghwa Picture Tubes Ltd, Huawei Technologies Co. Ltd, Sharp Corporation, Plastic Logic, Innolux Corporation, AU Optronics Corp., TCL Electronics Holdings Limited, Microtips Technology, and others. These players dominate the market with their established brand presence, extensive product portfolios, and strong distribution networks. They are investing in research and development activities to introduce innovative products and gain a competitive advantage in the market.

Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it