Flexible Display Market Size, Share & Trends Analysis growing at a CAGR of 35.3% from 2024 to 2030
The global flexible display market size was valued at USD 15.46 billion in 2023 and is projected to grow at a CAGR of 35.3% from 2024 to 2030. This market is experiencing significant growth due to increasing consumer demand for innovative electronic devices and expanding application areas. It includes a variety of display technologies, such as OLED, LCD, EPD, and others, which are being integrated into products ranging from smartphones and wearables to automotive displays.
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The versatility of flexible displays has led to utilization applications across different sectors, further driving market growth. In healthcare, flexible displays are integrated into medical devices and wearable health monitors, providing better patient outcomes and enhanced monitoring capabilities. The retail sector also adopts flexible displays for dynamic advertising and information displays, which attract more customers and enhance their shopping experience. This broad range of applications of flexible display technology contributes significantly to market expansion.
Consumers are looking for sleek, lightweight, and multifunctional gadgets. Flexible displays offer the unique advantage of being bendable and foldable, creating new form factors and enhancing user experiences. Additionally, the growing popularity of wearable technology, such as smartwatches and fitness bands, relies heavily on flexible display technology to provide comfort and durability.
Companies increasingly enter into strategic alliances to leverage each other’s technological expertise and market reach. For instance, in April 2022, Asus ordered 10,000 foldable OLED displays and cover films from SKC, BOE, and Kolon Industries for its ZenBook 17 Fold OLED laptop with a flexible screen. These partnerships facilitate sharing research and development costs, speeding up the innovation cycle. Moreover, joint ventures and acquisitions are aiding companies in expanding their product portfolios and entering new market segments, thereby driving overall market growth.
Type Insights
The OLED segment dominated the market and accounted for a revenue share of 46.3% in 2023. Due to its superior image quality and flexibility, OLED displays are increasingly used in smartphones, tablets, laptops, and televisions in the consumer electronics sector. The automotive industry also adopts OLED displays for digital dashboards, infotainment systems, and head-up displays, offering enhanced functionality. This expanding range of applications is significantly contributing to the growth of the OLED flexible display market.
The EPD (Electronic Paper Display) segment is expected to register the fastest CAGR during the forecast period. EPDs have low power consumption and are ideal for battery-powered devices. Due to their reflective display technology, they are readable in direct sunlight and suitable for e-readers, outdoor signage, and other applications where readability in bright light conditions is essential. Improved EPD materials enable the creation of high-resolution, full-color displays that are bent, rolled, or folded without compromising image quality. These advancements are expanding the use of EPD and driving its demand in the market.
