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Albany, New York, Sept. 16, 2019 (GLOBE NEWSWIRE) -- Geographies play a huge role in expanding any market or product. A similar factor is linked to the growth of the flexible OLED display market, especially in Asian countries. Most of the countries in Asia Pacific are lies in the bracket of middle-class families, where the demand for TV sets is extremely high. India, Vietnam, Brazil, and China are considered to be the leading regions having a high demand for advanced TV sets. Moreover, rising per capita income in these countries have inspired people to buy a television with high definition and other benefits including curved screen and light adjustment. In addition, a significant shift is seen from traditional watching experience to advanced technological display that has boosted growth in the global flexible OLED display market.
In a report by Transparency Market Research (TMR), Asia Pacific is considered to hold a leading position in the global flexible OLED display market in the coming years. Huge customer presence with a larger number of youth population having a high demand for laptops and smartphones having flexible OLED display further augmented growth in Asia Pacific flexible OLED display market. In terms of growth across the globe, the demand for flexible OLED display has also increased substantially.
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With reference to revenue generation, globally the flexible OLED display market is projected to generate nearly US$ 3 billion by the end of 2026. TMR estimates states that over the forecast period starting from 2017 to 2026, this market may experience astounding growth at 35%. Based on these estimates, the global flexible OLED display market is expected to rise stupendously in the coming years. It will also benefit stakeholders and players in the market significantly and also bring in huge growth opportunities for them.
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Smartphones and Laptops Diversified Growth Prospects in the Flexible OLED Display Market
Technology being at the epicenter of every industry and rising dependency towards it has boosted demand for smartphones, desktops, and laptops. Flexible OLED display is required in making these electronic devices, which is considered to be a key factor behind the growth of this market. Players manufacturing laptops and smartphones are investing heavily in research and development activities to enhance the product quality and improve various features available in these devices to their customers. With a special focus of the leading players in innovation, there are high chances that the competition among these players will increase in the coming years.
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One of the recent initiatives taken by the leading player includes LG Display’s joint venture in Guangzhou for OLED production that was approved by the Chinese government. In this plant, the company will mainly produce large-size OLED panels for television. For the company, it is regional expansion and it will also significantly benefit the growth in the flexible OLED display market.
High Preference for Curved Display made it a Leading Segment
In the global flexible OLED display market, the demand for curved display is comparatively high than foldable display. Though currently, this segment might hold maximum share in the market, there are high chances that in coming years this segment might losses its dominance. Estimates presented in the report shows that over the projected tenure, the revenue share of this segment may cross US 180 million that was earned in 2017. Regionally, Asia Pacific excluding Japan is the most preferred region for the growth curved display. However, the chances of Japan holding a high share in this curved display segment are considered to be more during the forecast period. This factor will be considered by the players before making their strategies and establishing themselves in Asia Pacific region.
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The study presented here is based on a report by Transparency Market Research (TMR) titled “Flexible OLED Display Market (Control Scheme - PMOLED, and AMOLED; Flexibility Type - Curved Display, and Foldable Display; Application - Lighting, Smartphones, Television, Monitor, Wearables, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2026”.
The global flexible OLED display market has been segmented as below:
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