Market Perspective

The global Foldable Display Market was valued at USD 16.32 billion in 2022 and is projected to reach USD 28.33 billion by 2030, growing at a CAGR of 8.00% from 2023 to 2030.

The market for foldable displays is expanding due to developments in display material including organic light-emitting diodes (OLED) and quantum dots (QD). The increase in demand for connected and autonomous vehicles, along with the use of digital signage systems, further boosts the growth of the foldable display industry. In the electronics sector, there is a rising need for flexible and intelligent displays. Foldable screen material allows larger screens to be folded or rolled into smaller ones, making them even more portable and convenient for users. Advances in other areas, such as battery material, have also made it possible to create foldable display devices with long battery lives. The ongoing development of foldable screens is the focus on larger and smaller format screens, innovations, costs, and technological advances.

However, complicated manufacturing processes and reduced demand from mobile phone manufacturers are limiting the market growth at the global level. Rapid changes in newer smartphones and changing display material would create favorable opportunities for key players in the foldable display market during the forecast period. High costs, complex supply chains, and production processes associated with products based on new display technologies are the major challenges impeding market expansion.

Analyst’s Review on Foldable Display Market

In recent years, there have been significant innovations and advances in foldable displays such as the development of nano-material screen films, which made it possible to create foldable tablets, electronic cards, and bridge screens. In addition, the development of flexible plastic substrates has enabled the creation of thin and light displays that can be folded or rolled up without damage. This allowed the creation of devices with larger screens in smaller form factors, making them more portable and more convenient for users. The development of advanced controllers has made it possible to create more durable and reliable foldable screens. In addition to these technical advances, there have also been significant developments in the commercialization of foldable displays. Moreover, innovations and advances in foldable screen materials have made it possible to create devices with larger screens in a smaller form factor, making them even more portable and convenient for users.

Market Definition

Foldable displays are often used in mobile devices, including smartphones, tablets, and laptops, as they allow for larger screens to be folded or rolled up into a smaller form factor, making them more portable and convenient to carry. The screens are printed on a flexible plastic substrate, which allows them to be thin and lightweight, as well as resistant to damage from bending or folding. Foldable displays use flexible display material, which differs from traditional flat-surface displays.

As the demand for larger screens on mobile devices increases, foldable screens offer a solution that allows for larger screens without compromising portability. As the mobile device market becomes increasingly saturated, manufacturers are focusing on ways to differentiate their products from their competitors. Foldable displays offer a unique and innovative feature that helps manufacturers stand out in a crowded market.

Market Dynamics

The growing trend of smart homes and the demand for networking materials are among the significant factors driving the adoption of innovative and connected solutions in the consumer electronics sector and creating huge opportunities for market growth. The high demand for smartwatches and high-end smartphones has increased the demand for flexible displays in the market. Flexible screens have facilitated the adoption of curved edges on the latest smartwatches and smartphones. The growing demand for smart wear has proven to be a great opportunity for market growth. The increased impact and damage resistance of the flexible screen is proving to be a major growth factor in the market. The demand and supply of smart devices have increased due to the rapid uptake of research and development work by the major players in the market to achieve considerable profits.

The high cost of a foldable display is hindering the adoption of foldable phones among customers, which is likely to slow down the global revenue of foldable displays. In addition, the incompatibility of software and hardware is a challenge that is restraining the growth of the market. The manufacturing costs of foldable screens are significantly higher than traditional screens due to several factors such as material costs, manufacturing processes, and supply chain management. The increase in costs was also caused by the technical shortcomings of some prototypes of the foldable device. As material continues to advance, it is expected that the production costs of foldable displays will decrease, making them more accessible to consumers.

Segmentation Analysis

The global foldable display market is segmented based on type, material, application, and geography.

Based on type, the market is segmented into LED, OLED, and AMOLED. OLED is the dominating segment owing to the increased demand in smartphones, which are rigid in structure due to the glass layer used in the production of the screen. This material is very flexible and can withstand a lot of impact, making it more durable and suitable for everyday use.

Based on material, the market is classified into glass, metal, and plastic. The plastic segment has dominated the foldable display market due to its high durability and flexibility, which helps extend the life of devices. Plastic is used widely to reduce the production costs of devices which propels the segment growth.

Based on application, the market is segmented into automotive & transportation, aerospace & defense, media & entertainment, consumer electronics, IT & telecommunication, sports & fashion, and others. The automotive & transportation segment dominated the market in 2022 owing to the emerging use of flexible displays due to their widespread use in vehicle interiors. The interiors of vehicles are developed to make them even more interactive with consumers and to provide a high-quality and personalized user experience. These surfaces are transformed into touch screens to make the vehicle more interactive.

Geographical Analysis

Based on regional analysis, the global foldable display market is classified into North America, Europe, Asia Pacific, MEA, and Latin America.

Asia Pacific is the fastest-growing region due to the huge demand among consumers for greater durability of devices and the proliferating use of smartphones and smartwatches observed in countries across the region has proven to be a major driving factor for market growth. The region is expected to remain the fastest growing market for foldable displays due to the growing consumer electronics industry in the region.

In addition to smartphones, foldable steering systems for future mobility vehicles are another area of development in foldable material. The expansion of the foldable display market is aided by the growing production of a large number of displays in the area, the rising number of shipments, and the vibrant Asia-Pacific consumer electronics market. The regional market growth is accelerated by increased investments in R&D projects for the introduction of cutting-edge smartphone displays.

Competitive Landscape

The global foldable display industry study will provide valuable insights with an emphasis on the fragmented nature of the global market. Prominent players are focusing on several key business strategies, such as partnerships, mergers & acquisitions, product innovations, and joint ventures to expand their product portfolio and increase their respective market shares across different regions. The major players in the foldable display market are:

• Google
• Huawei Technologies Co., Ltd.
• LG Electronics
• Microsoft
• vivo Mobile Communication Co., Ltd.
• Xiaomi Corporation
• ZTE Corporation
• ASUSTeK Computer Inc.
• OPPO
• SAMSUNG

Key Developments

• April 2023 (Launch): Google introduced its first foldable Pixel smartphone that focused on building a foldable smartphone with a strong hinge, and the device is expected to have a 7.6-inch display when open.
• December 2022 (Launch): Samsung launched a massive laptop with foldable screen OLED panels. The electronics behemoth produces such panels for devices as small as smartwatches and TVs up to 65 inches.
• April 2022 (Launch): vivo launched the first foldable smartphone vivo X Fold with a dual 3D ultrasonic fingerprint sensor that supports fingerprint unlocking on both screens. The manufacturer also debuted two new devices in its portfolio, the X Note and the vivo Pad.

The global Foldable Display Market is segmented as:

By Type

• LED
• OLED
• AMOLED

By Material

• Glass
• Metal
• Plastic

By Application

• Automotive & Transportation
• Aerospace & Defence
• Media & Entertainment
• Consumer Electronics
• IT & Telecommunication
• Sports & Fashion
• Others

By Region

• North America
• U.S.
• Canada
• Mexico
• Europe
• France
• UK
• Spain
• Germany
• Italy
• Russia
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Rest of Asia Pacific
• Middle East & Africa
• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America