Flexible and Foldable OLED Displays Market size was valued at USD 12.34 Billion in 2024 and is projected to reach USD 38.56 Billion by 2033, exhibiting a CAGR of 14.85% from 2026 to 2033.
South Korea's Flexible and Foldable OLED Displays Market: Industry Demands and Innovations
South Korea has emerged as a global leader in the development and production of flexible and foldable OLED (Organic Light Emitting Diode) displays. These advanced technologies are revolutionizing various industries by offering unparalleled design versatility and superior visual performance.
Rapid Market Growth and Investment
The South Korean OLED market was valued at approximately USD 14.87 billion in 2023 and is projected to reach nearly USD 27.01 billion by 2030, growing at a compound annual growth rate (CAGR) of 8.9% from 2024 to 2030. This growth is driven by substantial investments in next-generation technologies, including Micro-LED and QD-OLED. The South Korean government has allocated KRW 65 trillion (approximately USD 49 billion) between 2023 and 2027 to expand OLED production for applications in IT, automotive, and mobile sectors.
Innovations by Leading Companies
At K-Display 2024, Samsung Display showcased various foldable displays, such as the Flex In & Out, capable of 360-degree folding, and the Flex Hybrid, which combines foldable and slidable technologies. These innovations highlight the company's commitment to advancing flexible OLED technology.
LG Display introduced an 18-inch slidable OLED panel for vehicles, designed to be concealed in the ceiling and roll down when needed, offering passengers a large screen experience for entertainment or video conferencing. Additionally, LG unveiled an 83-inch OLED TV panel with peak brightness reaching 3,000 nits, representing a 42% improvement over previous models.
Industry Requirements and Applications
The demand for flexible and foldable OLED displays spans multiple industries:
Consumer Electronics: Smartphones and tablets benefit from the slim form factor and vibrant displays. Samsung's Galaxy Z series and Xiaomi's Mix Fold 4 exemplify the integration of foldable OLED screens in mobile devices.
Automotive: Vehicles incorporate OLED displays for dashboards and entertainment systems, enhancing user experience with high-quality visuals and flexible design options.
Healthcare: Medical devices utilize OLED screens for clear imaging and flexible configurations, improving diagnostic capabilities.
Retail and Advertising: Transparent and flexible OLED displays are employed in digital signage, offering engaging and dynamic content presentation.
Competitive Landscape
Despite South Korea's leadership, Chinese manufacturers are rapidly advancing in the flexible OLED market. In Q2 2023, Chinese companies surpassed South Korea for the first time, achieving a 50.2% market share in flexible OLED panels for smartphones. This shift underscores the intensifying competition and the need for continuous innovation among South Korean firms.
Challenges and Future Outlook
The foldable display market faces challenges related to production costs and reliability. High manufacturing expenses and durability concerns have limited widespread adoption. However, ongoing research aims to address these issues by developing ultra-thin glass covers and advanced encapsulation techniques to enhance durability and reduce costs.
As industries increasingly demand versatile and high-performance display solutions, South Korea's focus on innovation and strategic investments positions it to meet these evolving requirements and maintain its competitive edge in the global flexible and foldable OLED displays market.
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Samsung
LG Display
AUO
Sony
JOLED
BOE
CSOT
EverDisplay
Tianma
Visionox
Skyworth
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Flexible and Foldable OLED Displays Market
Rigid OLED Displays
Flexible OLED Displays
Foldable OLED Displays
Consumer Electronics
Automotive
Healthcare
Smart Packaging
Wearable Devices
Others
Small Panel Displays
Medium Panel Displays
Large Panel Displays
AMOLED (Active Matrix Organic Light Emitting Diode)
PMOLED (Passive Matrix Organic Light Emitting Diode)
Smartphones
Tablets
Laptops
Television
Smartwatches
Virtual Reality (VR) Devices
Others
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Flexible and Foldable OLED Displays Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Flexible and Foldable OLED Displays Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Flexible and Foldable OLED Displays Market, By Type
6. South Korea Flexible and Foldable OLED Displays Market, By Application
7. South Korea Flexible and Foldable OLED Displays Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Flexible and Foldable OLED Displays Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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