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Global flexible display market expects strong growth

Global flexible display market expects strong growth

Transparency Market Research (TMR) has published a fresh forecast for the global flexible display market: various types of panels are taken into consideration – folding, bending, curling, etc.

According to estimates, last year the volume of this industry in monetary terms amounted to $14.9 billion. In the coming years – up to 2031 – a CAGR (compound annual growth rate) of about 33.1% should take place. As a result, by the end of the period under review; the volume of the global market for flexible displays will reach $242.6 billion.

“Over the next few years, the market will rise due to the increasing use of flexible displays in different industries such as consumer electronics, automotive and transportation, media and entertainment, and aviation and military. The future of phone design with foldable display holds promise in the development of mobile devices and smart displays will also propel the flexible display market during the forecast timeline. In addition to that, the global market has saw an increasing expenditures on the development of sophisticated displays”.

The market for flexible displays will grow by 33.1%.

The Asia-Pacific region is now one of the top consumers of flexible displays; accounting for about 34% of all sales last year, according to the study.

“Due to the surge in usage for curved displays from the consumer electronics sector for the manufacturing of TVs and smartphones; the curved display category is likely to hold a significant proportion of the market during the forecast timeframe. A flexible display is basically the same as any other display, except that it is on a flexible substrate”.

Smartphones, various wearable devices, next-generation TVs, automotive electronics, computers, billboards and signs are among the key applications for such screens.

Analysts note that there is currently a rapid development in the segment of foldable displays; made on organic light emitting diodes (OLED). In the coming years, the automotive industry will remain one of the main market drivers.

Source: GizChina.

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