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The Future of Flexible Displays - Rising Demand from Healthcare and Automotive

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susan hill
The Future of Flexible Displays - Rising Demand from Healthcare and Automotive

Flexible displays are lightweight, energy-efficient, and shatter-proof, which, in turn is driving their adoption for smartphone manufacturing. Rising sales of consumer electronics, such as wearable devices, bendable TVs, and foldable laptops are expected to proliferate the demand for flexible displays. Furthermore, technological advancements in the manufacturing process of flexible Organic Light Emitting Diodes (OLED) has boosted the demand over the past few years.

Rising demand from industries, such as healthcare and automotive has opened new growth avenues for the flexible display market. Automotive manufacturers are focusing on integrating flexible displays in automotive interiors. For instance, in May 2019, Samsung Corporation and Audi AG formed a strategic partnership to push Audi’s concept car, Audi Prologue A9 Prototype. The proposed car is expected to house a flexible, high-resolution Samsung OLED display near the gear stick helping driver control vehicle settings.

Flexible display manufacturers are investing huge amounts in R&D in a bid to develop energy efficient products. In 2018, a total of 20,590 individual patents/applications were filed by the companies such as Sony Corp., Philips, Samsung Corporation and others. In October 2018, Royole Corporation, a flexible display and smart devices manufacturer, launched FlexPai, a foldable device which can be bent, rolled, and operated as a smartphone as well as tablet.

Thus, technological advancements in the field of displays are anticipated to provide sound growth opportunities to manufacturers and offer customers high-quality touch screen displays. However, huge capital investment requisite to manufacturing flexible substrate is expected to hamper the market growth.

Key market players include BOE Technology Group Co., Ltd.; Corning Incorporated; Innolux Corp.; AU Optronics Corp.; E Ink Holdings, Inc.; Japan Display Inc.; LG Display Co., Ltd.; Royole; and Samsung Electronics Co., Ltd. In view of optimistic outlook of the industry, major manufacturers are emphasizing on increasing their production capacity to meet the demand.

Business expansion through new product development, strategic partnerships, and mergers and acquisitions are the go-to strategies adopted by the leading manufacturers. For instance, in October 2018, Royole Corporation launched FlexPai, a foldable device integrating flexible display. The device can be bent, rolled and operated as both smartphone and tablet. Companies are investing huge amounts for developing commercially viable designs of flexible displays for different consumer electronics applications. They are also registering patents to gain competitive advantage.

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