Flexible Display Market Analysis
According to SDKI Analytics, more than 50% of smartphone users in the US have damaged their devices, with screen cracks being the most common damage. While traditional glass-based displays are prone to cracking or breaking when subjected to impact, flexible displays are less likely to break and can withstand impacts when the phone is accidentally dropped, making the electronic devices more durable, which has immediately driven demand. The flexible display market offers significant opportunities for Japanese market players, supported by favorable export data and supportive government policies. Japan is considered a leader in display technology, and Japanese companies are well-positioned to capitalize on the growing global demand for flexible displays.
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Regional Overview of Flexible Display Market
The market in this region is expected to expand significantly due to the increasing smartphone users in the region. Countries such as China, South Korea, Taiwan, and India have high demand for smartphone manufacturing, which is expected to drive the growth of the flexible display market in the region. According to a study, the South Korean smartphone market generated a revenue of $8.5 billion, which is a significant figure that highlights the increasing demand for smartphones related to the integration of flexible displays, including OLED. Electronic devices such as tablets and smart TVs are also driving the production of flexible displays in Japan, owing to their high demand.
Flexible Display Market Segmentation
The global flexible display market is segmented based on display type into OLED, LCD, EPD, and others. According to market forecasts, the OLED market is expected to hold the largest share with a market share of around 40% during the forecast period due to the superior flexibility of OLED panels. OLED displays do not require a backlight as each pixel emits light on its own. This generally makes OLED panels thinner and more flexible than conventional LCDs. According to Insights, various devices such as the Samsung Galaxy Z Fold 3 use flexible OLED displays, which have demonstrated the potential of OLED technology and are receiving favorable reviews from consumers. Also, the shipments of the Samsung Galaxy Fold 3 have crossed 100 million units for this reason.
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Competitive Landscape
According to researchers at SDKI Analytics, the flexible display market is fragmented due to market competition among companies of various sizes, including large and small. Market players are leveraging all opportunities, such as product and technology launches, strategic partnerships, collaborations, acquisitions, and expansions, to gain a competitive edge in the market.