Market Challenges And Opportunities

Global Flexible Display Market Drivers:

Innovation in Consumer Electronics

The rising trend towards smart homes and construction and the growing demand for connected technologies are some of the key factors driving the adoption of connected and innovative solutions across the consumer electronics sector. The integration of smart sensors into consumer electronics has accelerated the replacement cycle for new consumer electronics. Displays are increasingly being used to control and communicate with devices.

For instance, in January 2023, Samsung Display unveiled a host of new technologies at CES 2023 including a foldable and slidable display, a "digital cockpit" for self-driving car and its latest QD-OLED devices.

Increase in demand for greater picture quality

In 2022, more companies are advertising 8K TVs, particularly within the North America and European districts. Amid the year, 75- to 85-inch models are anticipated to be prevalent compared to 65-inch amid the past year; In addition to this, development within the HDR, Driven, and different other innovations are anticipated to encourage an increase in the request.

With the multiplication of screen sizes the number of pixels per inch diminishes to 8K; Additionally, users reportedly can't tell 8K recordings from 4K ones. The demand for 8K displays is expected to grow significantly over the next several years, though, since costs are expected to decline.

Major content producers throughout the world are currently producing and marketing their material in 4K format; as an example, Netflix has one of the most comprehensive collections of 4K content, which contributes to their success in attracting more customers globally.

Global Flexible Display Market Opportunities:

Offer a wider range of Smartphones

Smartphone behemoths like LG, Samsung, and Huawei are looking into flexible displays, which are widely regarded as a potentially problematic breakthrough for future handheld and other devices. The goal is to put cutting-edge plans in the hands of customers.

However, the increase in fetched, the decreased wrapped-up item rate, the cost increase, the requirement for item separation, the standard request design, and the uncertainty of financial prospects all pose extremely difficult problems for request creation. In 2020, there will be additional opportunities for flexible OLED displays due to the focus on lowering prices, increasing current capabilities, performing item separation, new look, and industry demands for 5G models.

The rise of 5G

Telecom firms guarantee that the advantages of 5G frameworks will eventually satisfy all of their customers, demonstrating that equipment manufacturers can fully produce 5G-compatible smartphones and computer components. The innovation is anticipated to deliver impressive internet speeds to homes and devices, with tests suggesting the frameworks are over 100 times faster than 4G. Given the advancements in capabilities of modern smartphones and accessible workstations, it seems sense that the introduction of 5G will enable users to execute more tasks on a single device than was before possible.

Global Flexible Display Market Restraints:

Higher R&D cost and a highly dynamic market

Merchants are increasingly contributing to item enhancements due to the growing need for improved image quality and determination in the market. For instance, LG, an electronics company Show donated KRW 1,740 billion in 2020. Large sellers that control a larger market share typically can contribute large shares of income in development, which is constrained for smaller merchants operating in this field.

Aside from this, the estimation of advancements is a very active market segment. As an example, the selling prices of TFT-LCD and OLED boards have been steadily declining in recent years, which has an effect on the income of retailers operating in the market and hinders their growth within the product category.

Despite the challenges posed by higher R&D costs and a highly dynamic market, the global flexible display market benefits from several counterbalancing factors. Economies of scale come into play as production volumes increase, helping to offset initial R&D investments and drive down costs. Moreover, ongoing technological advancements lead to more efficient manufacturing processes and materials, contributing to cost reductions over time. Collaborative efforts and strategic partnerships enable companies to share resources and accelerate innovation while mitigating the burden of R&D costs. Diversification and vertical integration strategies help mitigate market uncertainties by expanding product portfolios and enhancing supply chain control.

The reduced shelf life of products

During the projection period, a significant challenge for the flexible display market will be the items' shorter shelf lives. Although flexible displays address many issues with conventional displays, they also offer a number of drawbacks. Because of market competitiveness, manufacturers continuously develop cutting-edge items that support cutting-edge technology. While a result, while consumers are drawn to new items on the market, older versions suffer in the market. These updated versions of already available goods keep the market competitive while rendering earlier iterations outdated in some way. The items using this technology are pricy since it is still in its infancy. The growth of vendors will be severely impacted by more spending on technological improvements.

Despite the challenge of reduced shelf life in the flexible display market, there are several counterbalancing factors that can help mitigate this constraint. Continuous technological advancements drive research and development efforts to enhance the durability and lifespan of flexible displays. Quality assurance and testing procedures ensure that products meet stringent standards and can withstand environmental and mechanical stresses. Improved product design and engineering techniques optimize the structural integrity of products, reducing the risk of premature failure. Educating consumers about proper usage and care of flexible displays promotes responsible handling and maintenance, thus extending their shelf life.