CHICAGO, Aug. 9, 2024 /PRNewswire/ -- The
Foldable Display Market is expected to reach
USD 13.2 billion by 2029 from
USD 4.6 billion in 2024, at a CAGR of
23.6% during the 2024–2029 period according to a new report by
MarketsandMarkets™. The major factors driving the market growth
of the Foldable Display market include rising adoption of
smartphones application. Additionally, the ongoing technological
advancements, and rising consumer demand for portable devices with
compact designs provide growth opportunities to the foldable
display market players.
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Browse in-depth TOC on "Foldable Display
Market"
125 – Tables
50 – Figures
240 – Pages
Foldable Display Market Report Scope:
Report
Coverage
|
Details
|
Market Revenue in
2024
|
$ 4.6
billion
|
Estimated Value by
2029
|
$ 13.2
billion
|
Growth Rate
|
Poised to grow at a
CAGR of 23.6%
|
Market Size Available
for
|
2020–2029
|
Forecast
Period
|
2024–2029
|
Forecast
Units
|
Value (USD
Million/Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
By Technology, Panel
Size, Application, Material, Resolution, Type and Region
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, and Rest of World
|
Key Market
Challenge
|
Limited use of foldable
displays
|
Key Market
Opportunities
|
Advancements in
technology
|
Key Market
Drivers
|
Expansion of
application areas
|
Smartphones are projected to account for the largest market
share in the foldable display market during the forecast
period.
Smartphones dominated the market, capturing a major share among
foldable applications, underscoring their advanced technological
features and ease to use as one of the most used applications of
foldable display solutions. The segment of laptops and tablets
is projected to experience significant growth making them a
versatile and productive solution for remote working. The reason
for foldable display adoption by laptops and tablets lies mainly in
the changing consumer demand for a device that could act as both a
laptop and a tablet. As the acceptance of foldable technology
increases with continuous improvement and integrations that enable
new innovative features to better user experience and usability, so
will the market for foldable displays in laptops and tablets.
Panels sized up to 20 inches sized panels accounts for the
largest market share of the foldable displays market during the
forecast period.
Foldable displays up to 8 inches, is a very dynamic market
segment, driven by innovations that increase both portability and
usability. Foldability in these sized foldable displays provided
single-handed operation when folded, enhancing convenience in the
case of a phone call or quick interaction. Displays within the 8-20
inches range are mainly foldable displays in tablets and laptops.
Advances in flexible OLED technology and hybrid substrates
make sure that foldable devices could keep up with their durability
and performance in continuous use. A major driver of the market for
foldable displays above 20 inches comes from the need for
space-saving solutions in sectors such as home entertainment,
corporate environments, and commercial display applications. With
the arrival of technology, markets for foldable displays would gain
importance across all sectors, aided by innovations in flexible
materials, manufacturing techniques, and consumer demand for
versatile, high-performance devices.
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Asia Pacific is forecasted
to achieve the highest CAGR in the foldable display market
throughout the forecast period.
Asia Pacific is accounted for
the largest share of the foldable display industry. The presence of
established several foldable display manufacturing companies such
as Samsung Electronics Co., Ltd. (South
Korea), BOE Technology Group Co., Ltd. (China), and Visionox Company (China), is increasing integration in sectors
like consumer electronics and commercial displays. Advanced
consumer electronics devices, such as smartphones, tablets, and
laptops, present huge demand in the Asia
Pacific region. North
America provides a strong market for foldable display
devices since North American consumers are inclined to be early
adopters of new technologies. Meanwhile, component manufacturers
and suppliers, like specialty chemicals by SCHOTT Group
(Germany), significantly drive
growth for the European foldable display market.
Key Players
The report profiles key players in foldable display
companies such Samsung Electronics Co., Ltd. (South Korea), BOE Technology Group Co., Ltd.
(China), Visionox Company
(China), Royole Corporation
(China), TCL China Star
Optoelectronics Co., Ltd. (China),
AUO Corporation (Taiwan), Tianma
(China), Huawei Technologies Co.
Ltd. (China), Motorola Mobility
LLC (US), and Honor Device Co., Ltd. (China).
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