- The smartphone market is one of the fastest-growing markets in the world. Also, it needs rapid technological advancements in the offerings for achieving a competitive edge over other players. As smartphone penetration is reaching new highs every year, the demand for OLED display for this segment is driving the flexible OLED market.

- The low consumption of energy has also driven the market for LED displays, and the flexible OLED displays opened new opportunities of application in the industry. The innovative applications in the automotive and lighting industry will moreover fuel market growth.

- The economies of countries across the world are growing. Hence, the population is now equipped with higher disposable cost than before, insisting consumers for adopting luxury products like curved OLED Televisions.

- On the other side, the lower acceptance of the OLED technology compare to the LED displays is restricting the market growth.



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Key Market Trends

Mobiles and Tablets to Witness Significant Growth

- With increased smartphone adoption globally, the demand for high definition ultra-high displays is growing at a fast rate. With many companies, such as Apple and Samsung employing AMOLED displays in their flagship models, other companies are following the trend.

- LG displays, one of the leading OEM for displays signifies that the smartphone segment is the second largest segment for its revenue generation. Generally, the shipment of display panels is 10% to 12% higher than mobile phone units shipments. According to the OLED Association, 1.4 billion smartphones were shipped in 2018, and with innovations in AMOLED displays, the demand for OLED technology is growing is expected to follow the trend in the forecast period.

- Many smartphone companies have already launched their foldable smartphones earlier in 2019. For instance, Samsung launched Galaxy Fold smartphone, which can be folded to half and expands the 7.3-inch screen on unfolding. The use of a flexible OLED panel for the foldable phone has already gained popularity in the market, and other companies are expected to launch their foldable series in recent future.

Asia-Pacific to Witness the Fastest Growth Rate

- The economies of major countries in the region like India and China are growing, leading to an increase in the disposable incomes of the consumers. Hence, moving toward the adoption of high-end electronic products, such as curved televisions and premium smartphones. Thus, driving the flexible OLED market in the region.

- Even though the production cost of LED panels is toward the declining trend, production of OLED displays is still costly. The production cost will be reduced with heavy mass production. Leading OEMs like LG displays for flexible OLED are investing in production expansion in Guangzhou, China, and is expected to produce 3.8 million OLED panels in 2019.

- Tech giant, Apple Inc. is investing in developing its foldable phone and has planned to start the assembly plant in India for premium iPhones. The commencement of this plant will make its phones available at cheaper rates than it is in the country. Hence, the demand will drive the growth for the flexible OLED market in the region.

Competitive Landscape

The flexible OLED is a next-generation technology of LED displays. Few players in the market dominate the flexible OLED market in terms of OEMs. Hence, the market trend is toward consolidation. Because of the low-moderate barrier for entry in the market, new players will increase for offering flexible OLED displays in the recent future.

- May 2019 - TCL Corporation commenced its pilot production line for its 6-Gen LTPS flexible AMOLED at Wuhan, China, and full-fledged production will begin in the fourth quarter of 2019. TCL's production line in Wuhan will have a production capacity of 45,000 6-Gen substrates.
- Nov 2018 - Samsung Electronics introduced its new Infinity Flex Display with a flexible OLED panel. The company has launched this with a new foldable phone called Galaxy Fold earlier in 2019.

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