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According to a new report by EMR titled, ‘Global Flexible Display Market Report and Forecast 2022-2027’, the market attained a value of over USD 10.5 billion in 2021. The industry is further expected to grow at a CAGR of 33.5% in the forecast period of 2022-2027 to reach a value of more than USD 59.40 billion by 2027.
The growing technological breakthroughs and increasing innovations are driving the flexible display industry growth globally. Nowadays, flexible display is widely used in smartphones, tablets, smart wearables, televisions, PCs, and laptops. This is because it offers brighter, thinner, and flexible displays. In addition, OLEDs are expected to drive the market growth, as they provide transparent display. This is because the light-emitting layers of OLED are lighter and the OLED substrate is flexible instead of rigid . Furthermore, high competition in the flexible display industry and the rise in research and development activities are leading to new product development, which is predicted to aid the industry growth in the forecast period.
Flexible display allows users to interact with phone while twisting, bending, or folding the same across both the vertical and horizontal planes in different manners. The growing use of smartphones by the youth and their easy availability through online platforms such as Amazon (NASDAQ: AMZN) and Alibaba (OTCMKTS: BABAF) is driving the market growth. Great offers and discounts on products available on these platforms have led to an increased purchase of digital devices, especially in emerging nations like India, which, in turn, is expected to enhance the demand for flexible display in the forecast period.
Market Analysis by Type, Substrate Material, Application, and Region:
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The major players in the global flexible display market are LG Display Co., Ltd., Samsung Electronics Co. Ltd, Huawei Technologies Co. Ltd., Innolux Corporation, and Royole Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.
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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
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