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| Flexible Display Market |
The global flexible display market is estimated to be valued at US$ 16.14 billion in 2023 and is
expected to exhibit a CAGR of 34.7%
over the forecast period (2023-2030), as highlighted in a new report published
by Coherent Market Insights.
Market Overview:
Flexible displays are thin, lightweight screens that can be bent, rolled, and
twisted without compromising on picture quality and performance. These displays
offer several advantages over traditional displays, including improved
durability, enhanced portability, and flexibility in design. The growing demand
for smartphones, tablets, wearables, and other electronic devices that require
flexible screens is driving the market growth. Flexible displays have the
potential to revolutionize various industries such as consumer electronics,
automotive, healthcare, and aerospace, creating new opportunities for market
players.
Market Key Trends:
One key trend in the flexible display market is the increasing adoption of
flexible OLED (Organic Light-Emitting Diode) displays. OLED technology offers
several advantages over LCD (Liquid Crystal Display) technology, including
higher contrast ratio, wider viewing angles, and faster response times. The use
of OLED displays in smartphones and televisions is gaining traction due to
their slim form factor, energy efficiency, and superior picture quality. OLED
displays also enable curved and foldable designs, providing a unique and
immersive viewing experience for consumers. This trend is expected to continue
driving the growth of the flexible display market in the coming years.
Porter’s Analysis:
Threat of new entrants: The threat of new entrants in the Global
Flexible Display Market is moderate. Although there are entry barriers
such as high capital requirements and technological expertise, the market is
still attractive due to its high growth potential. Established players have
already invested in research and development and have strong customer
relationships, which act as barriers to new entrants.
Bargaining power of buyers: The bargaining power of buyers in the flexible
display market is high. Customers have access to a wide range of options and
can easily switch between suppliers. Additionally, the high competition among
key players puts pressure on prices and gives buyers more negotiation power.
Bargaining power of suppliers: The bargaining power of suppliers in the
flexible display market is moderate. The market is highly dependent on raw
materials such as flexible substrates and organic materials, which may lead to
a certain level of supplier power. However, the increasing number of suppliers
and the availability of substitute materials reduce the overall supplier power.
Threat of new substitutes: The threat of new substitutes in the flexible
display market is low. Flexible displays offer unique advantages such as
lightweight, thinness, and portability, which are difficult to replicate with
traditional rigid displays. Additionally, the increasing demand for flexible
displays across various industries further strengthens their market position.
Competitive rivalry: The competitive rivalry in the flexible display market is
intense. Key players are constantly innovating and investing in research and
development to gain a competitive edge. The market is characterized by
continuous product launches, collaborations, and mergers and acquisitions. This
intense competition drives companies to differentiate their products and offer
competitive pricing.
Key Takeaways:
Market Size: The global flexible display market is expected to witness high
growth, exhibiting a CAGR of 34.7%
over the forecast period, due to increasing demand for smartphones, wearables,
and flexible TVs. The market size is projected to reach US$ 16.14 billion by 2023.
Regional Analysis: Asia Pacific is the fastest-growing and dominating region in
the flexible display market. This growth can be attributed to the presence of
major consumer electronics manufacturers in countries like China, South Korea,
and Japan. Additionally, the increasing adoption of smartphones and the rising
disposable income of consumers in the region contribute to its market
dominance.
Key Players: 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
are focused on product innovation, research and development, and strategic
partnerships to gain a competitive advantage in the market.
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More: https://www.ukwebwire.com/flexible-display-market-size-share-and-trends/