Home > Electronics & Media > Foldable Display Market
Foldable Display Market size was valued at over USD 65 million in 2018 and is expected to grow at a CAGR of more than 75% from 2019 to 2025. The global industry shipments are predicted to exceed 155 million units by 2025.
To get more details on this report: Request Free Sample PDF
Rapid transformations and changing display technology in upcoming smartphones are creating several opportunities for the market growth. The demand for such products is attributed to increased customer awareness about the latest technologies in large economies and manufacturers’ strategies of providing innovative offerings. Several smartphone and tablet manufacturers across the globe are working on the market offerings by integrating them into the newly developed products.
Technological advancements in OLED display technology is one of the major drivers for the foldable display market. The benefits of OLED technology in integration with foldable displays & screens are gaining high popularity among electronic device manufacturers led by the flexibility, better picture quality, and efficient lighting benefits. The utilization of OLEDs in smartphones provides thinner, lighter, and highly durable features compared to the conventional screens.
The foldable display market expansion is hindered mainly due to high-cost factors associated with the technology owing to high cost, device manufacturers are unable to deploy them in the new products driven by less customer buying capacity. Commercialization of technology globally over the forecast timespan can overcome such challenges. Moreover, the hardware & software incompatibility issues and technical defects occurring in the existing offerings are also hindering the market development. Enhancement in the manufacturing capabilities and better integration of the hardware & software components by manufacturers will eliminate the compatibility issues.
Report Coverage | Details |
---|---|
Base Year: | 2018 |
Market Size in 2018: | 65 Million (USD) |
Forecast Period: | 2019 to 2025 |
Forecast Period 2019 to 2025 CAGR: | 75% |
2025 Value Projection: | 18 Billion (USD) |
Historical Data for: | 2014 to 2018 |
No. of Pages: | 150 |
Tables, Charts & Figures: | 85 |
Segments covered: | Application and Region |
Growth Drivers: |
|
Pitfalls & Challenges: |
|
To get more details on this report: Request Free Sample PDF
The global foldable display market demand was impacted by the spread of COVID-19 pandemic during the first two quarters of 2020. The decline can be primarily attributed to the shifting consumer preferences from investing in premium electronics products to purchasing essential items and medical supplies. A recession in the global economy coupled with huge loss of jobs and other income sources encouraged consumers toward saving for future in contingencies. In April 2020, Samsung Electronics reported a 7.6% decline in revenues in the first quarter of 2020 as compared to the previous quarter. However, with the economic revival in North American and European countries, the market experienced a steady growth. The growing adoption of technologically advanced gadgets by consumers with high disposable income is poised to fuel the market during the forecast period.
Smartphones and tablets in the foldable display market are projected to witness 63.2% growth rate through 2025 impelled by increasing technological innovation and deployment activities by the leading smartphone manufacturers globally. Device producers, such as Samsung, LG, and Huawei, are working to successfully integrate this technology into their new phones, which is a major factor accounting for the market progression. Several phones are set to launch in 2019 including Samsung Galaxy X, Motorola Razr, LG folding smartphone, Apple foldable iPhone, and Huawei folding phone. Owing to the high investments and rapid technical developments, the folding phones are slated to gain commercialization in the coming years.
In the foldable display market, notebooks are predicted to observe exponential growth propelled by the product development plans adopted by few manufacturers such as Samsung and Lenovo. Compared to the smartphone industry, notebooks and laptops are growing at a slow pace and are expected to gain high speed after the foldable smartphone commercialization. Folding notebooks will provide several typing and convenience benefits compared to the traditional laptops in the market.
To get more details on this report: Request Free Sample PDF
The Asia Pacific foldable display market is showcasing rapid expansion compared to the other markets owing to the continuous launching plans and technical activities carried out by the Asian manufacturers such as Huawei, Samsung, and others. Also, the presence of several leading display manufacturers in the Asian countries is creating several the industry growth opportunities. Additionally, the launch of the first smartphone, FlexPai, by Royole Corporation is also a key factor that adds up to the industry expansion in the APAC region. The penetration of manufacturing companies in this region is In addition the low operational costs and easy & cheap availability of raw material & components required to develop the industry products.
North America region is anticipated to register a high growth in the foldable display market on account of the early adoption of all digitized and technically-advanced products in the U.S. High disposable income & spending capacity of the American citizens to consume costly electronic devices is also a reason for the industry progression prospects. Moreover, the technology development initiatives by the U.S.-based companies including Apple and Microsoft is a major driver for the market.
The foldable display market comprises several component suppliers and product developers including the key players such as Samsung, LG Display, Royole Corporation, BOE, Semiconductor Energy Laboratory, and Tianma. Prominent companies are working on developing new smartphones & laptops integrated with this technology and are competing in the run to launch their products earlier than their competitors. This is due to the presence of only a few companies and chances of becoming the industry leader. Manufacturers are heavily investing in R&D capabilities related to the technology to gain a competitive edge globally. In addition, device producers are collaborating with the display component providers to develop technically equipped smartphones & laptops.
Smartphones and display manufacturers including LG Display, Samsung, and BOE are innovating flexible OLEDs to develop efficient products, supporting the industry demand.
The market consists of a few players mainly from the APAC region and is highly competitive as manufacturers compete to gain early product commercialization benefits over the competitors. The industry is experiencing steady growth attributed to high technology & component costs and high initial investments required for product development. However, the leading manufacturers are expected to launch their products over the forecast years and revolutionize the global smartphone industry. Additionally, the increasing focus on R&D activities and technology development trends is supporting the market revenue.
Market, By Application (Revenue, Shipments)
The above information has been provided for the following regions and countries: