OLED or Organic Light Emitting Diode is one of the most advanced technologies that permits the display to be bent, rolled, and folded. An OLED display attains this sort of flexibility by including a flexible substrate below the organic one. OLED displays are preferred over their LCD counterparts as they have lower energy consumption as they operate without a backlight.
The global flexible OLED display market is projected to grow at a staggering CAGR of 35% during the assessment period 2017-2026, according to a new research report added to the repository of Market Research Reports Search Engine (MRRSE). The report titled “Flexible OLED Display Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2026” is a comprehensive source of analysis on the future of OLED display market.
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According to the report, demand for flexible OLED displays will grow at a robust pace, owing to broader developments in the consumer electronics industry. Although OLED displays are used in a range of end use industries, it is the consumer electronics industry that accounts for bulk of demand for flexible OLEDs.
Consumer preference for curved and titled displays is a key factor that is driving the growth of the market. Preference for wide viewing angles and growing adoption of high-quality displays is also promoting the growth of the market.
The report projects that these factors will continue to create opportunities for manufacturers during the assessment period.
According to the report, demand for AMOLED is higher than PMOLED, and the status quo is likely to remain unchanged during the assessment period. The AMOLED segment is projected to reach a valuation of nearly US$ 3 billion by the end of 2026.
Manufacturers are expected to focus on AMOLED segment, as the avenues of growth are higher in this segment.
Curved displays continue to be sought-after over foldable displays and the trend is likely to remain unchanged during the assessment period. The curved display segment was estimated to be worth US$ 180 million in 2017.
The lighting and smartphone segment continue to remain prominent in terms of application. The proliferation of smartphones, especially in Asia Pacific is likely to create growth opportunities for manufacturers.
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According to the report, Asia Pacific excluding Japan (APEJ) is likely to remain the largest market for flexible OLED displays during the assessment period. Years of economic growth has led to the emergence of a strong middle class in China, India, ASEAN, and Southeast Asia.
A significant section of consumers in these countries have high disposable income, and demand for consumer electronics such as TVs and smartphones has witnessed a spike in the recent years. The report projects surging demand from APEJ to be a critical factor in the flexible OLED displays market.
The report also profiles some of the leading players in the market. The key players include LG Display, Visionox, Samsung Display, Universal Display, CSOT, AU Optronics, Japan Display, EverDisplay Optronics (EDO), JRiTdisplay, and BOE Technology.
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