June 17, 2024
Ict

Flexible Displays Accelerate E-Commerce Growth In Developing Nations

Flexible displays are thin, lightweight and pliable electronic visual displays that can be bent, folded or rolled up without damage. They provide a more portable viewing experience compared to traditional rigid screens and offer unique form factors for mobile devices, wearables and other consumer electronics. Advancements in materials science have enabled high resolution flexible AMOLED and OLED displays with vivid colors and wide viewing angles. Their lightweight, paper-thin profiles allow for compact yet immersive viewing across a range of curvy form factors well-suited for mobile applications.

The global Flexible Display Market is estimated to be valued at US$ 16.14 Bn in 2023 and is expected to exhibit a CAGR of 34.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The adoption of flexible displays has been accelerated by rising e-commerce activities in developing countries. Online shopping has surged in popularity across emerging markets in Asia Pacific and Latin America driven by rising internet penetration, growing middle class and preference for contactless transactions amid the pandemic. Flexible displays are playing a vital role by enabling compact yet high-performance screens on smartphones and tablets utilized for mobile commerce. Their lightweight designs with foldable/rollable formats allow for more portable online shopping experiences. This is supporting the expansion of the digital retail sector in developing economies by making e-commerce more accessible remotely even on-the-go via bendable device formats suited for m-commerce applications. Flexible displays are thus poised to remain a driving factor underpinning the continued growth of e-commerce activities across developing parts of the world.

Key players operating in the flexible display market are LG Display Co. Ltd, Samsung Electronics Co Ltd, ROYOLE Corporation, e-ink Holdings, BOE Technology Group Co. Ltd, Guangzhou Oed Technologies Co. Ltd, FlexEnable Limited, Chunghwa Picture Tubes Ltd, Huawei Technologies Co. Ltd, Sharp Corporation, Plastic Logic, Innolux Corporation, AU Optronics Corp., TCL Electronics Holdings Limited, Microtips Technology, and Others.

Regional Analysis: Asia Pacific currently dominates the global flexible display market. China, South Korea, Japan are major countries contributing to the growth of the regional market. Growing demand for flexible displays from consumer electronics like smartphones and Televisions along with emergence of innovative applications like foldable smartphones are fueling market growth in Asia Pacific.

Segment Analysis
The global flexible display market is dominated by the OLED segment. OLED displays are becoming increasingly popular due to their ultra-thin and lightweight nature along with rich color reproduction. OLED displays are already being used in popular devices like smartphones and tablets, and their use in other consumer electronics like wearables and laptops is growing rapidly. OLED displays are expected to garner the largest market share owing to high demand for power-efficient and thin displays.

Key Takeaways

The global Flexible Display Market is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach US$ 16.14 billion by 2024, exhibiting a CAGR of around 34%.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it