The Flexible Display Market is being driven by Increased R and D investments
The Flexible Display Market is expected to grow at a CAGR of 10.08% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 18.5 billion. In the business realm, the adoption of flexible displays is gaining momentum, leading to the prototyping of innovative and wearable products by tech giants such as Samsung, Microsoft, and Apple. Microsoft and Sony are pioneering flexible screen consoles for their gaming devices, aiming to enhance the user experience. Meanwhile, Samsung and Sony have introduced curved screen TVs and are now exploring their flexible counterparts to cater to evolving consumer preferences. The wearables sector is spearheading the growth of the flexible display market with its diverse product conceptualizations.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Application (Smartphones, Wearables, TVs, Others) Geography (APAC, North America, Europe, Middle East and Africa, South America).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Flexible Display Market Research Report
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The Flexible Display Market is experiencing significant growth due to its application in various sectors, including Smartphones, Wearable devices, and Smart Home Products. Technologies like OLED display type, TCL CSOT's AMOLED Rollable Display, and connected technologies are driving this trend. The supply chain is being disrupted by innovations like OLED screens in Smartphones, Laptops, Desktops, Televisions, and even Curved and Rollable Displays made of Glass, Metal, Plastic, and EPD. Stanford University and LCD are also contributing to the advancements in Flexible Displays, with Panel Sizes ranging from small wearables to large televisions.
The Flexible Display Market is a significant segment of the global electronic equipment and instruments industry, which encompasses manufacturers of communication equipment, technology hardware and peripherals, electronic components, consumer electronics, and industrial electronics. According to Technavio's market analysis, the global electronic equipment and instruments market size is determined by the revenue generated from the sales of associated ICT and electronics products, equipment, and components. The market's growth will be driven by the escalating demand for electronic test and measurement equipment. This demand is fueled by technological advancements and digital transformation in various sectors, including semiconductors, automotive, IT, consumer electronics, industrial, energy, and healthcare. Notable applications of flexible displays include smartphones, wearable devices, connected technologies, and smart home products. Leading manufacturers, such as TCL CSOT, are pioneering innovations in flexible display technology, with offerings like the AMOLED Rollable Display, poised to revolutionize the market.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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