Flexible Display Market to grow to $15,139 million by 2022 from $3,449 billion in 2017, at a CAGR of 34.4% during the forecast period.

Northrook, IL -- (SBWire) -- 03/19/2020 --The flexible display market to grow from USD 3,449 billion in 2017 to USD 15,139 million by 2022, at a compound annual growth rate (CAGR) of 34.4% during the forecast period. The major factors that are expected to be driving the market are rising demand for OLED-based devices and high growth of consumer goods. The objective of the report is to define, describe, and forecast the flexible displays market size based on application, technology, panel size, substrate material and region.

Flexible Display Market By application, the vehicles and public transport segment is expected to grow at the highest growth rate during the forecast period

Vehicles such as cars and motorbikes, among many others, are the leading applications in the automotive domain. Displays utilized in cars range from small- to medium- and medium- to large-sized display panels. These displays can be used in dashboard displays, central control units, entertainment systems, navigation systems, security systems, and many other systems that help drivers in displaying the information. Public transport vehicles such as trains, planes, and ships also use panels for displaying the information for the advertising purpose. These display panels are usually large in size.

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Flexible Display Market By technology, the LED-Backlit LCD segment holds the largest share of the market

The main display technology in the flexible display market is LED, or LED-backlit LCDs. LED-based display devices utilize LEDs for white backlighting the LCD panel. In conventional LCD devices, cold cathode fluorescent lamps (CCFLs) were used for backlighting; however, the display market has adopted LEDs for backlighting the LCD panel owing to its favorable features. Although cheap, CCFLs are not as energy-efficient as LEDs. Owing to the features offered and falling prices of LEDs, CCFL-backlit LCD TVs disappeared entirely.

Flexible Display Market in North America to account for the largest market size during the forecast period.

The flexible display market in North America, being technologically advanced and developed, is a leading market for the cutting-edge technology used in flexible display devices.The region accounted for the largest share of the global market in 2016. The US dominated the North American market owing to its well-established economy, which allows for a large consumer electronics market. The rapid adoption of the latest display technologies and increasing applications are some of the reasons for the large market share of the US in the North American market. Leading e-reader brands, such as Kindle, were first available in the US, and hence North America plays an important role in the flexible display market.

Key Market Players
LG Display Co., Ltd. (South Korea), Samsung Electronics (South Korea), Innolux Corp. (Taiwan), AU Optronics (Taiwan), Japan Display Inc. (Japan), BOE Technology Group Co., Ltd. (China), Sharp Corp. (Japan), Visionox Corporation (China), E Ink Holdings, Inc. (Taiwan), Corning Incorporated (US), E. I. du Pont de Nemours and Company (US), FlexEnable Limited (UK), Kateeva (US), Cambrios Technologies Corp. (US), Royole Corporation (US) are the key market players in the Flexible display market.

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