Foldable Display Market Size

Foldable Display Market Size

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.

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.
 

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.