Flexible Display Market Size

Flexible Display Market Analysis

The Flexible Display Market size is estimated at USD 15.22 billion in 2024, and is expected to reach USD 67.76 billion by 2029, growing at a CAGR of 34.80% during the forecast period (2024-2029).

The growing demand for smartphones and wearable devices, and the increasing demand for connected technologies and other smart home products, are major factors driving the demand for flexible display technology.

• Flexible displays offer various advantages over conventional display technologies. They are lightweight, bendable, ultra-thin, shatter-proof, unbreakable, portable, and have low energy consumption. Although curved displays offer notable improvements over flat displays regarding viewing angle and depth of picture quality, they differ from flexible and foldable ones.
• The most significant advantage of flexible displays is their durability. Since this screen can be bent and manipulated, it tends to absorb fall and collision impact better than solid glass structures currently in application. Other potential applications of flexible displays in the future include the integration in clothing that changes color or pattern instantly as per the surroundings. The realization of this potential is expected to boost the demand for flexible displays significantly.
• The smartphone market drives the global demand for flexible screens. As a result, various vendors are increasing their focus on the smartphone segment. Apart from this, vendors are also focusing on enhancing their presence in the TV and computer (Laptops and Desktop screens) segment and innovating their product offerings accordingly. For instance, in January 2021, TCL CSOT launched two innovative products, a 6.7-inch AMOLED Rollable Display and a 17-inch Printed OLED Scrolling Display, at CES 2021.
• OLED display type has recently gained popularity due to its simplified design, better image quality, and limited flexibility. OLED screens do not involve backlighting and can be thinned and molded into specific shapes. OLED display types are currently expensive for large screens, such as televisions and computer monitors. However, they still gain benefits for economies of scale in this segment.
• Initial market demand is expected from emerging economies in the consumer electronics segment of APAC, North America and Europe, thereby driving the market due to the adoption of flexible OLED displays. As the flexible OLED is considered one of the best solutions for the next-generation smartphone market, this display technology is gaining shares even in a market with lesser demand.
• However, higher cost and affordability issues in the initial stage of availability, complex manufacturing processes, seasonal demand patterns, and uncertain economic outlook might hinder the market growth during the forecast period.
• COVID-19 had a detrimental influence on the market, especially during the initial phase of the pandemic as lockdown measures imposed across various countries disrupted the supply chain for phone and display production. However, with the consumer electronics market recovering quickly, driven by high demand for products such as smartphones, laptops, and so on, the flexible display market is expected to grow further during the forecast period.