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Flexible display market to approach $23B by 2024

Posted: 10 Jul 2015 ?? ?Print Version ?Bookmark and Share

Keywords:IHS? OLED? smartphone? flexible display? Apple?

Flexible displays have been gaining popularity as of late. In addition to spawning innovative applications, they are also transforming the display market. In fact, IHS Inc. revealed that they are becoming an important segment of overall display market revenues.

According to the market research firm, flexible displays are expected to comprise 15 per cent of the total display market revenue in 2024. As flexible organic light-emitting diode (OLED) production continues to improve, revenue from flexible display production will expand at a CAGR of 44 per cent from 2014, to reach $23 billion in 2024, the IHS report added.

"Flexible OLED production yield has improved dramatically over the last few years, which could prompt panel manufacturers to ramp up flexible OLED production lines," said Jerry Kang, principal analyst at IHS. "Market growth could also accelerate when flexible displays debut in foldable, rollable and stretchable forms."

Flexible display market revenue forecast

Rugged, light, thin, non-brittle and portable flexible displays are feeding the market for various applications. For example, LG Electronics and Samsung Electronics have both applied flexible OLEDs to their flagship smartphones, to bolster sales in the slowing premium-smartphone market. The Apple Watch, which uses flexible display technology, has also added to the momentum of OLED in wearable devices. "Flexible display technology is not only gathering heated attention from electronics giants, but it is also stimulating startups to experiment with novel applications and innovations," Kang said.

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