Global Flexible Display Market Outlook, 2029

The history of the flexible display market is a captivating journey of technological innovation and futuristic visions. It began with early research in organic light-emitting diodes (OLEDs) in the late 20th century, leading to the first prototypes of bendable screens in the early 2000s. Over the years, advancements in materials science, particularly in the development of flexible substrates like plastic and metal foil, have propelled the industry forward. Major players such as Samsung, LG, and Royole have dominated the competitive landscape, constantly pushing the boundaries with ground-breaking products like foldable smartphones; roll able TVs, and wearable devices. Additionally, the competitive landscape is marked by a race to innovate, with companies investing heavily in research and development to achieve greater durability, higher resolution, and better energy efficiency. Start-ups and tech giants alike vie for market share, leading to a dynamic environment where collaboration and competition coexist.

According to the research report, “Global Flexible Display Market Outlook, 2029” published by Bonafide Research, the market is anticipated to cross 21% CAGR by 2024-29.Unlike the traditional flat screen displays seen in many electronic gadgets, a flexible display is a visual output display that can be bent, folded, and twisted. Over the past ten years, there have been a number of advancements in tablet and smartphone screens, including flexible displays. Without a question, one of the most important ideas that has the most potential to revolutionize the market is flexible screens. Even while various companies have been investigating the technology for more than ten years, it is still relatively new. Because they are being used more often in wearable technology, smart cards, flexible displays, etc., flexible batteries are also becoming more well-known. Another quickly developing technology is the flexible display, which is currently gaining popularity in a number of sectors including media, transportation, and aerospace. It can be used in medical display systems as well. The growing need for flexible display technology across a range of applications, including digital signs, smartphones, tablets, and smart wearables, is propelling the global flexible display market. The growing demand for quantum dot (QD) display technology presents manufacturers with additional revenue prospects.

Market Drivers

Novelties in Consumer Electronics- The expanding trend of smart homes and buildings and the growing demand for linked technologies are some of the main forces behind the adoption of connected and creative solutions across the consumer electronics market. The frequency of replacing new consumer electronics has increased due to the integration of smart sensors into household equipment. There is a noticeable increase in the use of screens for device control and communication. Apart from that, home appliances like televisions are going through radical transformations. For instance, it is anticipated that the only type of new TVs sold worldwide will be smart models. As more people have access to high-speed internet, there is a growing need for smart models with improved picture quality. With so many people getting their material via over-the-top (OTT) platforms like Netflix, Amazon, and others, efficient data storage is increasingly essential. Bitmovin claims that a new generation of video codecs, which provide 30 to 70% better compression than H.264, is starting to take market share.
More businesses were selling 8K TVs in 2021, especially in North America and Europe. Compared to 65-inch models last year, 75- to 85-inch versions are anticipated to be more popular this year. Improvements in HDR, LED, and other technologies are also anticipated to increase demand.
The number of 4K televisions sold has grown exponentially in recent years. JEITA reports that 3.05 million 4K TVs were shipped into Japan in 2020, an increase from 2.58 million the year before. It is anticipated that the shift in content quality and resolution would fuel demand.
The amount of pixels per inch in 8K is declining as screen sizes increase. Furthermore, research indicates that viewers are unable to differentiate between 4K and 8K videos. However, the demand for 8K screens is anticipated to increase dramatically in the upcoming years due to cost decreases.
Millennial players are increasingly choosing to play PC games. Increased internet speed, the availability of top-tier hardware and software, and better gameplay quality are the main causes of this change. More advanced and demanding technology is now available, like virtual reality and 4K monitors. Sales of gaming-specific PCs and related accessories, such as gaming screens, are fueled in part by the expectation that PC gamers will upgrade their hardware correspondingly. Thus, there is a greater need for flexible displays due to the growing demand for visual quality.

Market Challenges



Vendors are investing more in product innovation as a result of the growing demand for better picture quality and resolution. Large vendors with a bigger market share may invest a larger share of revenues in innovation, something other vendors in this field are unable to achieve. LG Display, for example, invested KRW 1,740 billion in 2020.
Aside from that, in terms of technological pricing, the market share of flexible displays is very dynamic. For instance, the market prices for TFT-LCD and OLED panels have been steadily declining recently, which has had an impact on the earnings of market vendors and presented a hurdle to their expansion within the product category.
Due to intense competition, suppliers in this market must contend with pressure on prices and margins as many increase production capacity in an effort to undercut one another on price. The capacity of global vendors to stay profitable and sustainable in the market is being greatly impacted by investments made by vendors from Taiwan, China, Korea, and Japan in expanding their manufacturing capacities.
Furthermore, from their present average selling price of about USD 4,500, it is anticipated that the new 8K screens will sell for between USD 3,500 and USD 4,000 by 2022. It is anticipated that this will negatively affect the profit margins of vendors in this market.

Market Trends

OLED Technology Will Increase Significantly- OLED is a new display technology that makes lighting panels and displays more energy-efficient. Televisions and other mobile gadgets already make use of OLEDs. The newest generation of display technology, OLEDs, outperform earlier LED and LCD technologies in terms of performance and optical qualities. In addition, manufacturers of smartphones like the LG G8X and Samsung Z fold have incorporated bendable second-generation OLED panels. The primary purpose of OLEDs was to present foldable smartphones to the market. Conversely, rolled OLEDs are currently finding their way into the TV and smartphone industries. OLED-based flexible screens use less energy than alternative solutions. OLEDs can be built as individual pixels by manufacturers because of their extremely small factor. These are in great demand and are already found in many consumer devices, including curved OLED TVs.

Based on the report, the Technology segment is segmented into Display Technology, OLED, E- paper, LCD, LCOS, Display Manufacturing Technology, Flat Panel Display Technology, Plasma Display Technology. OLED segment is leading in the flexible display market due to its convenience, consistent quality, and ability to simplify the brewing process for both commercial brewers and home brewers.

In the dynamic world of the flexible display market, the OLED (Organic Light Emitting Diode) sub-segment shines brightly as the frontrunner, captivating consumers and manufacturers alike. OLED technology has revolutionized flexible displays with its remarkable ability to emit light directly from organic compounds, eliminating the need for backlighting and allowing for ultra-thin, lightweight, and highly bendable screens. This unique characteristic makes OLEDs the ideal choice for innovative devices like foldable smartphones; roll able TVs, and wearable gadgets, where flexibility and sleek design are paramount. The allure of OLEDs lies in their superior visual performance. They deliver vibrant colours, deep blacks, and unparalleled contrast ratios, providing a viewing experience that is both stunning and immersive. Unlike traditional display technologies, OLEDs can achieve true black by turning off individual pixels, resulting in exceptional picture quality and energy efficiency. This efficiency not only enhances battery life in portable devices but also aligns with the growing consumer demand for eco-friendly technology. In essence, the OLED sub-segment leads the flexible display market due to its blend of aesthetic appeal, performance excellence, and versatility.

Based on the report, the Application segment is segmented into E- reader, smartphones, tablet, laptop, television. The smartphones segment is estimated to grow at a higher growth rate in the flexible display market due to increasing consumer demand for innovative, compact, and multifunctional devices that offer enhanced portability and user experience.

In the flexible display market, the smartphones sub-segment is experiencing remarkable growth, captivating consumers and tech enthusiasts with its promise of futuristic functionality and sleek design. The allure of flexible displays in smartphones lies in their ability to combine advanced technology with practical benefits. Foldable screens, for instance, offer the convenience of a compact device that can expand into a larger display when needed, enhancing user experience for activities like gaming, streaming, and multitasking. This adaptability meets the modern demand for versatile gadgets that can seamlessly transition between different uses. Moreover, flexible displays are not just about aesthetics; they also provide tangible benefits in durability and performance. Flexible OLED screens are less prone to shattering compared to traditional glass displays, adding an element of robustness that appeals to consumers seeking long-lasting devices. Additionally, the thin, lightweight nature of flexible displays contributes to sleeker, more portable smartphone designs without compromising on screen size or resolution. In essence, the growth of the smartphones sub-segment in the flexible display market is driven by a blend of technological advancement, enhanced user experience, and the undeniable cool factor of owning a device that feels like it belongs in the future. As more consumers embrace these innovations, the flexible display smartphone is set to become a staple in the tech landscape, redefining the boundaries of what our handheld devices can achieve.

North America is leading in the flexible display market due to its strong R&D capabilities and presence of major technology companies, while APAC is the fastest-growing region due to its large consumer electronics manufacturing base and rising demand for advanced display technologies.

Because of its robust technological base, significant investments in research and development, and a firmly established consumer electronics sector, North America is the market leader for flexible displays. Many of the top technology businesses and research institutes that propel innovation in display technologies are based in the region. Businesses like Apple, Google, and several startups are always looking for new uses and developments for flexible displays, which leads to a constant supply of innovative goods. The development of sophisticated manufacturing facilities and a strong supply chain network facilitate the manufacturing and marketing of flexible displays. Furthermore, North American customers are among the first to adopt new technologies, which creates a strong demand for cutting-edge goods like wearable technology, flexible cellphones, and next-generation televisions.North America will continue to lead the flexible display market thanks to this consumer readiness and the area's ability to quickly commercialize breakthrough technology. On the other hand, due to substantial technological expenditures, quick industrialization, and economic expansion, the Asia-Pacific (APAC) region is turning into the flexible display market with the fastest rate of growth. Leading the way in the global electronics and display industries are nations like South Korea, China, and Japan, home to firms like Samsung, LG, and BOE Technology. These businesses have made significant investments in flexible display technology, which has led to significant improvements and cost savings. APAC also gains from a sizable and expanding customer base with rising disposable incomes, which fuels the market for cutting-edge and reasonably priced electronics.Furthermore, the governments in the area encourage technical progress by offering financial support and incentives for study and development in the display industry. APAC is seeing an acceleration in the use of flexible displays in a variety of applications, ranging from automobile displays and smart home devices to smartphones and tablets, which is driving additional market expansion. Because of the highly competitive manufacturing environment and robust local and international demand, the flexible display market is expanding at the quickest rate in Asia Pacific (APAC).

Considered in this report
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Flexible Display Market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Technology
Display Technology
• OLED
• E-paper
• LCD
• LCOS

Display Manufacturing Technology
• Flat panel display technology
• Plasma display technology

By Application
• E-reader
• Smart phones
• Tablet
• Laptop
• Television

By Region
• North America
• Europe
• Asia Pacific
• Rest of the world

The approach of the report:
This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Flexible Display industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.