The Flexible OLED market was valued at USD 3.12 billion in 2020 and is predicted to grow at a CAGR of 39.46 percent to USD 63.35 billion by 2026. (2021 – 2026). Many mobile gadgets and televisions currently use OLED display technology, which produces stunning and efficient lighting panels. Flexible OLED is a next-generation display technology that allows for the folding and curving of these panels on applications.
Analysis of the COVID-19 Scenario
● The COVID-19 outbreak has had a substantial influence on the global flexible OLED business. New projects have been halted all across the world, resulting in a decrease in market growth.
● As a result of workers staying at home, multinational manufacturers have failed to incorporate new flexible OLED technologies, disrupting global supply chains.
● COVID-19 has a transitory impact on this market because only production and supply chain are halted. Production, supply chains, and demand for these products are likely to steadily improve as the situation improves.
● Companies should be able to think of ways to enhance output, study new technologies, and improve present items as a result of the current situation.
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● One of the world’s fastest-growing markets is the smartphone market. In order to have a competitive advantage over other companies, it also requires rapid technological developments in the services. The flexible OLED market is being driven by the demand for OLED displays for smartphones, which is reaching new highs every year.
The market for LED displays has also been pushed by low energy consumption, and flexible OLED displays have opened up new application possibilities in the sector. Furthermore, market growth will be fueled by innovative applications in the automotive and lighting industries.
● Countries’ economy are expanding all across the world. As a result, the populace now has a bigger disposable income than previously, encouraging customers to purchase luxury items such as curved OLED televisions.
On the other hand, OLED technology’s weaker acceptability compared to LED displays is limiting the market’s growth.
The flexible OLED market is divided into three categories: type, application, and geography. The market is divided into two types: AMOLED and PMOLED. The market is divided into televisions, cellphones, wearables, computers and monitors, and other applications. The market is divided into many regions, including North America, Europe, Asia-Pacific, and Latin America, the Middle East, and Africa (LAMEA).
Key players operating in the global flexible OLED industry include Sony Corporation, Atmel Corporation, Delta Electronics, DuPont Display, Philips Electronics, Panasonic Corporation, Samsung Electronics Co. Ltd., Pioneer OLED, Optronics, BOE Technology, Japan Display, and Others. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global flexible OLED market.
Top Influencing Factors
Flexible OLED display technology in consumer electronic gadgets allows for a better viewing experience while also consuming less power, boosting industry growth. Furthermore, rising disposable income and desire for high-end technology-based products are projected to boost demand for flexible OLEDs. When pressure or stress is applied to the thin layer of the display, however, it reduces its efficiency or brightness, and can even cause gadgets to break down, impeding market expansion. However, research and testing are underway to remove these roadblocks and boost the flexible OLED market’s growth.
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