Growth opportunities in the Flexible OLED Market look promising over the next six years. This is mainly due to the surge in their application in tablets and smartwatches and ongoing technological enhancement in automotive devices.
Flexible OLED Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
Swift technological expansion in electronic devices and augmenting demand for consumer electronics engrossing less energy are some prominent drivers stimulating the growth of the global flexible OLED market. Also, the rise in the implementation of these devices across various end-user mechanized devices such as smartphones, television displays, tablets, and watches led by their adaptability of color and design, thin and better displays, and high strength compared to the LCD display is strengthening the flexible OLED market size. Moreover, the modernization in mechanized and unmanned automotive and accelerating penetration of smartphones with larger displays and flexible design features are the other factors promoting the market growth. In accordance with the OLED panel, shipments are forecasted to touch 1.07 billion units with about 84% share of smartphones in 2023. This will bring enormous growth opportunities for the market. However, excessive production cost decreased rate of return, and less resistance to temperature provided by these panels hinder the market growth. In addition, as per the flexible OLED market report, the widespread outbreak of the coronavirus pandemic has negatively impacted the electronic sector due to the disturbance in the supply chain and manufacturing process.
Application Segment Drivers
Based on the application, mobiles and tablets are predicted to witness a higher CAGR during the forecast period. This is mainly attributed to their rapid adoption in displays of mobiles and tablets led by their several advantages, including enhanced image quality with very high contrast ratio; broader color gamut; faster refresh rates; wide viewing angles; lighter, thinner, more strength than glass-based displays; and foldable display factor of flexible OLED. Moreover, several exclusive smartphones such as iPhone X, iPhone Xs, Samsung Galaxy S8+, Samsung Galaxy S8, and Samsung Galaxy Note 3 have endorsed the flexible OLED, which is driving the market share.
Regional Drivers
Based on regional coverage, Asia Pacific is expected to expand at a faster CAGR during the forecast period. This is mainly because of the blossoming of the electric and electronic industry, the rising disposable income of consumers, and the increasing demand for luxury products like curved OLED televisions, visual display units, premium smartphones, smartwatches, and high-end electronic products. Furthermore, the prevalence of leading companies will propel market growth.
Flexible OLED Market’s leading Manufacturers:
- TCL Technology Group Corporation
- Visionox Company
- Sony Corporation
- OSRAM GmbH
- Apple, Inc.
- SKYWORTH Group Limited
- JOLED Inc.
- BOE Technology Group Co., Ltd.
- LG Electronics
- Samsung Electronics Co., Ltd.
Flexible OLED Market Segmentation:
Segmentation by Technology
- PMOLED
- AMOLED
Segmentation by Application
- Mobiles and Tablets
- Monitors and Televisions
- Wearables
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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