Global Flexible Glass Market 2019-2023 | Introduction of Connected Basketball Apparel to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Apr 22, 2019--The global flexible glass market is expected to post a CAGR of almost 47% during the period 2019-2023, according to the latest market research report by Technavio.
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The global flexible glass market will post a CAGR of almost 47% during the period 2019-2023 (Graphic: Business Wire)
Flat panel displays used in televisions, monitors, and other display devices comprise thin panels instead of the traditional cathode ray tube (CRT). Flat panel display screens are lightweight, portable, and offer high resolution. Globally, the increasing demand for flat panel displays is driving the consumption of flexible glass as they provide dimensional stability, structural component cost reduction, high resolution and brightness, low color shift, and an exceptional couple efficiency. Moreover, the automotive sector also widely uses flat panel displays for large central information displays (CIDs). Flexible glass is used in advanced driver assistance systems (ADAS) of smart cars. Therefore, the demand for flexible glass is expected to rise due to the high adoption of flat panel displays and the growth of other end-user industries.
As per Technavio, the growing popularity of wearable technology will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global flexible glass market research report also analyzes other important trends and market drivers that will affect market growth during 2019-2023.
Global flexible glass market: Growing popularity of wearable technology
Wearable technologies are increasing in popularity across the world. The demand for wearable electronics is primarily driven by their ability to connect with the internet and exchange data between networks and devices. Wearable devices are popularly used for gaming, entertainment, sports, and health and fitness. Flexible glass is extremely durable and is used in displays, sensors, and other electronic systems in wearable technologies. Flexible displays and sensors are used to produce lightweight, thin, robust, and portable wearable electronics. Technological advances and improved user experience of these devices will, therefore, increase the consumption of flexible glass during the forecast period.
“Apart from the popularity of wearable technology, the rising global demand for smartphones is a key contributor to the global flexible glass market. The increase in smartphone usage can be attributed to improved internet connectivity as mobile devices account for more than three-fourths of the total internet usage. Factors such as portability and affordability will drive the demand for smartphones, thereby driv ing the market for flexible glass,” says a senior analyst at Technavio.
Global flexible glass market: Segmentation analysis
This market research report segments the global flexible glass market by application (displays, OLED, photovoltaic, and others) and geographical regions (APAC, North America, Europe, South America, and MEA).
The APAC region led the market in 2018, followed by North America, Europe, South America, and MEA, respectively. During the forecast period, the APAC region is expected to continue dominating as well as register the highest incremental growth due to the rising number of photovoltaic installations at airports, buildings, and open areas.
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SOURCE: Technavio Research
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