November 1, 2019
— The flexible display market is projected to grow from USD 2.7 billion in 2016 to USD 15.1 billion by 2022, at a CAGR of 34.4% between 2017 and 2022.
Technological shift and development of energy-efficient, attractive, and high-specification flexible display products
The flexible display market has witnessed tremendous technological advancements in the past few years. Display devices have changed from being bulky and space-consuming to slim and bezel-less. They now offer high resolution, improved contrast ratio, and low power consumption compared with traditional display devices based on CRT technology. High competition in the display market has led to new product developments and launches with attractive looks and high-end specifications. Companies such as Samsung Electronics Co., Ltd. (South Korea) and LG Display Co., Ltd. (South Korea) have led the display market toward a new era with the launch of products based on technologies such as OLED and Q-dot LED. OLEDs offer a better viewing angle and an excellent contrast rate, and are brighter than LCDs. OLEDs also exhibit refresh rates, thereby facilitating a high-definition video. Attractive looks and high specifications of display products such as TVs, desktop monitors, notebooks, and mobile phones grab the attention of consumers. Display products based on the OLED technology have revolutionized the display market.
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Complex manufacturing process
The manufacturing process of flexible displays is complex, and it involves several stages. At present, the designing part of other competing display technologies is superior and involves less number of manufacturing stages. A major challenge with respect to the flexible display technology is to match the performance of the rigid display and electronics technology currently available in the market. Many organic materials used for flexible displays and electronics are susceptible to moisture and oxygen. Exposure to oxygen and moisture reduces the life of a material. Thus, they provide less protection. Additionally, these materials tend to operate at slow speeds and high voltages. They are also sensitive to extreme temperatures. As the technology and the market progress, companies would focus on these issues to gain a competitive edge.
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