The flexible display market features an increasingly competitive landscape and several globally prominent players in the market are seeking new growth avenues. Transparency Market Research (TMR) observes that one of the foremost strategies key companies have been adopting over past several years is making sizeable investments in mergers and acquisitions. In addition, they are focusing on consolidating their geographic reach, in order to strengthen their shares in the global flexible display market. Top players in the global flexible display market are also engaged in unveiling new technologies in order to expand their product lines. Furthermore, a growing number of players are focusing on bringing technological improvements and advancements in flexible displays, in the hope of substantial competitive gains, notes TMR.
Top players operating in the market include Panasonic Corporation, Universal Display Corporation, Atmel Corporation, Samsung Electronics Co. Ltd., and Koninklijke Philips N.V.
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Given the enormous prospects in various end-use industries, the global flexible display market is expected to garner a phenomenal CAGR of 33.5% during 2017–2025. The market stood at US$4.5 bn in 2016 and the opportunities are projected to reach a valuation of US$47.892 bn by 2025 end.
Among the various categories of form factor, the curved display segment accounts for the leading share in the global flexible display market. The prominent demand it serves is attributed to its capability for offering optimal visual design, especially suited to consumers attracted by panoramic images. Regionally, North America presently holds the sway on account of presence of several players of global standing. The regional market for flexible display is expected to rise at robust growth rate and by 2025 end is forecast to attain worth of US$18.2 billion.
Technological advances in End Products’ Design and Functionalities to bolster Growth
Key evolutionary dynamics in the global flexible display market are largely influenced by the pace of technological advances in end products’ design and functionalities. The constant pace of advances is leading to high-end displays with applications in consumer devices such as tablets, smartphones, television, and a wide range of various electronic gadgets. Efforts by players from varied industries to develop cutting-edge flexible display technologies are driving developments in the flexible display market.
The advent of flexible OLED displays has underpinned many a design innovation in the market. Moreover, manufacturers of devices with flexible displays are trying to adopt various types of flexibility which are likely to attract more consumers in the global flexible display market.
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Rising Demand in Military Applications open New Frontier
Constant thrust on design innovations is also widening the horizon of product development initiatives of technology players and phone makers. The trend is likely to unlock several prospects in the flexible display market.
However, the steady growth of the flexible display market is hindered by a few factors. For instance, flexible displays in various consumer devices may not be gathering steam owing to their redundancy or high pricing or both. Smartphones with flexible displays are a case in point. Nevertheless, prominent phone makers with the likes of Samsung and Apple will keep on improving the design and functionalities of devices by incorporating innovative display technologies.
The global flexible display will also witness a new avenue in its rapidly rising use case in militaries. This is attributed to rising demand for flexible displays in military operations. These operations need lightweight display technology in military vehicles.