Global Flexible Electronics Market Research and Forecast 2018-2023

Posted by Orion Market Research on July 17th, 2018

Research and development activities in the arena of flexible electronic began in the first decade of 21^st century. Various companies such as Xerox, HP, Nokia, LG, Sony, Samsung started their research activities for flexible displays. The companies collaborated with different universities in order to accelerate their research program. In initial phase, HP collaborated with Arizona State University after the funding of US Army Research Laboratory. Nokia collaborated with University of Cambridge whereas Sony with RIKEN (the Institute of Physical and Chemical Research). At initial stage number of concept models were developed and introduced by various companies and research center however, first concept prototype of an e-Reader Radius rollable display was introduced by Netherland based company Philips in 2005. The first wireless flexible smartphone was developed by Human Media Lab at Queen's University, Canada in 2011. In 2013, LG and Samsung started manufacturing flexible OLED displays for mobile phones, television and wearables. From then to now, more companies are getting involved in the flexible electronics market as it is that new technology which will provide a step ahead of other companies at global consumer electronics market.

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First bendable smartphone at mass level was introduced by a Chinese Startup MOXI in 2016. The company planned to roll-out 100,000 bendable smartphones in their first year. In 2015, Samsung presented their prototype for foldable phone in 2011. After that, the company presented various prototype and videos regarding their progress in foldable phone. Currently, Samsung is working in developing foldable Galaxy S phone and it is expected that the screen for the same will be ready by Nov, 2018. The phone is anticipated to launch by Feb, 2019. The smartphone will be made up of three 3.5-inch screens, which can be opened out to tablet size or folded like a book. LG, another major consumer electronics company is working toward foldable phones. The company is working on two foldable smartphones designs simultaneously. The company filed a patent in Jul, 2017 and it was published in Jan, 2018. As per some reports, the company is also working with Apple to introduce iPhone with flexible display by 2020-21. It can be expected that in the coming years, a new range of smartphone will be available in the market which will create an enormous demand in the flexible electronics market.

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Compared to smartphones, the television has obtained a significant growth in foldable devices. LG, which is utilizing OLED technology in their products have recently showcased their new rollable televisions. In Jan, 2018 at Consumer Electronics Show, the company has showcased 65-inch rollable OLED prototype, having 4K UHD resolution. In the same show, couple of years ago in 2016 the company had showcased 18-inch rollable OLED display of only 1 mm thick. In 2018, Samsung has also revealed first rollable display with fingerprint scanner support in Jan, 2018.

Wearable devices, one of the most emerging market in consumer electronics is also witnessing involvement of flexible displays and devices. Flexible wearable is finding their application in different domains such as aircraft pilots, athletes, healthcare and for common people. These devices are used to monitor heart rate, respiration, and blood pressure.  Wove Band is one of the earliest product in flexible wearables introduced in the market by Uncrate LLC in 2015. It had a flexible display with its own operating system and the display doesn’t have to turn off. A bendable battery was introduced before the Wove Band by Samsung in 2014. The battery can be fixed around a cup or a wrist. As per Samsung expectations, the Samsung wearable batteries will cover about 25% of the total wearable market. Researchers at Brunel University, London are working toward developing flexible wearable battery using 3D printer. The researchers have developed battery using supercapacitor in 2017 which stores energy similar to battery. Hence, it is expected that in upcoming time more flexible battery-operated wearables will launch globally which will provide a substantial growth to the flexible device market in the near future.