Flexible displays market on 27% CAGR

July 11, 2016 // By Peter Clarke
Flexible display shipment revenues are set to be $3.7 billion in 2016 and are on a compound annual growth rate of 27 percent over the period to 2021, according to IHS Technology.

The growth will be driven by the increased deployment of wearable and mobile devices, the market analysis firm said. Flexible displays will comprise 13 percent of total display market revenue in 2020, the firm said.

South Korean equipment companies Samsing and LG Electronics adopted gently flexible active-matrix organic light-emitting diode (AMOLED) displays in 2013 for use in their smartphones and have continued to use flexible AMOLED displays for smartphones, smartwatches and fitness trackers partly because they enable more curvilinear physical design. Other equipment companies are now seeking to also use flexible displays.

Forecast of flexible display market. Source: IHS Technology.

At present there are few manufacturers of flexible displays, the notable ones being Samsung Display, LG Display, E-ink and Futaba, according to IHS. And the displays are primarily used in smartphones and smartwatches. Other manufacturers are striving to develop the capability and use is expected to penetrate other applications such as tablet PCs, near-eye virtual reality devices, automotive monitors and OLED TVs by 2022.

"Consumer device manufacturers will eventually need to innovate their conventionally designed flat, rectangular form-factors to make way for the latest curved, foldable and rollable screens," said Jerry Kang, prinicipal display research analyst at IHS Technology, in a statement.

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