Emphasis on Type (OLED, AMOLED, and Others); Application (Smartphone Display, Tablets and notebook, Television, Wearable display, and Others); Region/Country.
The Foldable Display market was valued at USD 4,817.2 Million in 2023 and is expected to grow at a strong CAGR of around 27.4% during the forecast period (2024-2032) owing to rising usage in Consumer Electronics.
The foldable display market has shown increased growth recently thanks to major developments in foldable display technologies such as OLED and AMOLED. A foldable display is a screen innovation in technology that enables mobile phones, tablets, and laptops to fold in a way whereby customers get a large screen size within a small portable device. The major drivers of the market are the rising demand for new devices, the need for bigger displays on mobile devices, and the need for better experiences. Further, the adoption of 5G technology has also benefited the market over time, as the foldable device has the potential to enhance the efficiency of 5G’s high-speed feature.
Driven by the significant market for foldable displays, Asia-Pacific, primarily China, South Korea, and Japan, is booming due to both robust demand for premium smartphones and rich manufacturing skills that are accelerating adoption. To aid companies producing next-generation displays, the Chinese government has launched different initiatives of subsidies and tax cuts. In addition, the U.S. and European markets are undergoing accelerated growth, supported by government grants and R&D tax credits that support local technology companies to produce flexible displays. The investments of these countries in tech and infrastructure are probably going to lead to strong expansion in the foldable display market in the foreseeable future.
This section discusses the key market trends that are influencing the various segments of the Foldable Display market as identified by our team of research experts.
Growing Consumer Demand for Multi-functional Devices
Customers are looking for more portable solutions while, at the same time, expecting higher screen sizes. Each of the foldable displays provides the convenience of holding a smartphone while enabling the ‘magic’ of switching to a larger screen like in the case of a tablet or a small notebook. This demand is especially felt in the smartphone sector where consumers look for devices capable of running other activities such as video streaming, gaming, and working remotely.
Example: One of such drivers is the Samsung Galaxy Z Fold series. Huawei also employs a foldable section that works like a mini phone when closed, and a larger tablet-sized viewing screen when opened – useful for anyone who needs a small easy-to-carry handset but also a large screen for work, gaming or simply to watch videos on.
Advancements in OLED and AMOLED Technologies
OLED as well as AMOLED technologies form the basis for flexible and thin folding displays because of the added advantage of excellent resolution and image quality. These technologies enable the screen to flex, fold, and even roll and yet not diminish the picture quality or lifespan of screens. Also, AMOLED displays give better contrast, high refresh rates, and power efficiency which is fit for foldable phones.
Example: The firm has invested greatly in flexible OLED panels making LG Display come up with new foldable solutions beyond smartphones including laptops and auto-mobility concepts. For instance, the LG Rollable TV employs this technology by rolling into a pedestal as a demonstration of the versatility and creativity OLED brings to the table.
Increased Investment from OEMs
Original Equipment Manufacturers (OEMs) are investing heavily in the research and development of foldable display technology. Companies like Samsung, Huawei, Xiaomi, and others are leading the market by constantly pushing the boundaries of what foldable displays can achieve. This intense investment is driving innovation, reducing costs over time, and increasing the availability of foldable devices in the consumer market.
Example: Huawei’s Mate X series represents a significant investment in foldable technology, where the company has focused on improving hinge design and display durability to compete with other foldable smartphone offerings. This investment allows them to offer premium foldable smartphones with competitive features and performance.
APAC is Expected to Grow with Significant CAGR During Forecast Period
In terms of geographical split, the largest proportion of the foldable display is dominated by the Asia-Pacific (APAC) region, mainly on account of its status as a global electronics manufacturing hub and innovation center. Flexibilities of a foldable display are further diversified based on its screen curvature, e.g., in terms of convex and concave types. Thus, to cater to the demand for such flexibilities, players of strong manufacturing infrastructures, such as South Korea, China, and Japan, are positioned closely in the APAC region, while major players, including Samsung Display, LG Display, and BOE Technology Group, are headquartered in this region, with the former having been the key developers of flexible OLED and AMOLED technology. This generates strong demand for premium, high-end devices in the countries and has further accelerated due to the widespread adoption of 5G technology. Besides this, the region has developed a strong supply chain and has been working on significant R&D initiatives, making foldable displays a fast-growing area among applications such as smartphones, laptops, and automotive.
The Foldable Display market is competitive and fragmented, with the presence of several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market include Samsung Display, LG Display, BOE Technology Group, Royole Corporation, Visionox Company, TCL Corporation, Tianma Micro-electronics, Sharp Corporation, Everdisplay Optronics (Shanghai) Co., Ltd., and AUO Corporation.
In January 2023, Samsung Display Co. in South Korea will invest about $1.8 billion in a factory in northern Vietnam to create OLED displays for vehicles and tech products.
In March 2024, LG Display announced its intention to secure 1.2925 trillion won ($971 million) through a paid-in capital increase, which it will then invest in its OLED business to satisfy the expanding demand for leading display products.
The global Foldable Display market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to contact us to get a report that completely suits your requirements.
1. Market Introduction
2. Research Methodology or Assumption
3. Executive Summary
4. Market Dynamics
5. Pricing Analysis
6. Global Foldable Display Market Revenue (USD MN), 2022-2032F
7. Market Insights by Type
8. Market Insights by Application
9. Market Insights by Region
10. Value Chain Analysis
11. Competitive Landscape
12. Company Profiled
13. Acronyms & Assumption
14. Annexure
Analyzing the historical market, estimating the current market, and forecasting the future market of global Foldable Display were the three major steps undertaken to create and explore the adoption of Foldable Display in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, numerous findings and assumptions were taken into consideration to validate these insights. Moreover, exhaustive primary interviews were also conducted with industry experts across the value chain of the global Foldable Display market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry. Detailed methodology is explained below:
Step 1: In-Depth Study of Secondary Sources:
A detailed secondary study was conducted to obtain the historical market size of Foldable Display through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of Foldable Display, we conducted a detailed secondary analysis to gather historical market insights and share for different segments and sub-segments for major regions. Major segments are included in the report, such as Type and Application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Foldable Display. Further, we conducted factor analysis using dependent and independent variables such as Type and Application of Foldable Display market. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Foldable Display sector across the globe.
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Foldable Display market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
The industry’s market size, in terms of revenue (USD) and the adoption rate of the Foldable Display across the major markets domestically
All percentage shares, splits, and breakdowns of market segments and sub-segments
Key players in the global Foldable Display market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Foldable Display market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of Type and Application in the global Foldable Display market.
The current & future market trends of the global Foldable Display market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
Q1: What is the current market size and growth potential of the Foldable Display market?
Q2: What are the driving factors for the growth of the Foldable Display market?
Q3: Which segment has the largest share in the Foldable Display market by Type?
Q4: What are the emerging technologies and trends in the Foldable Display market?
Q5: Which region will dominate in the Foldable Display market?
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