Global foldable display market to value over USD 3.8 billion by 2029 end and register a CAGR of over 61% from 2019 to 2029.
The increasing need for advancement and better and new technology in all electronic devices is creating several opportunities for the growth of the global foldable display market. The requirement for such merchandise is associated with heightened consumer consciousness about the most advanced technologies in developed economies. Numerous technological manufacturers across the globe are working on market contributions by integrating them into the newly developed products. For instance, in 2018, Royole Corporation announced the launch of its new smartphone plus tablet offering, FLexPai, with a display supporting both folded and unfolded usability. The new product addresses several applications including office work, gaming, and entertainment. This gained popularity and accelerated the growth of the global foldable display market.
Technological improvements in OLED display technology is one of the significant drivers for the foldable display market. The integration of OLED technology with foldable displays & screens is becoming increasingly popular among electronic device manufacturers due to the versatility and improved image quality. Therefore, the growth of OLED promotes the foldable display technology and thus propels the global market.
The foldable display market growth is hampered majorly due to high-cost determinants associated with the technology. Due to increased expenses, device manufacturers are unable to deploy new technology in the latest products owing to limited customer buying capacity. Commercialization of technology globally over the forecast timespan can surmount such hurdles. Augmentation in the production capacities and more extensive incorporation of the hardware & software components by manufacturers will eliminate the compatibility issues.
There are various foldable display technologies in the market developed by businesses such as LG Display, Samsung Electronics, Huawei, and Visionox with different specifications and unique features.
In 2019, Lenovo filed a patent for foldable designs, that accommodates two screens on one device. The company aims at competing with Samsung and LG to use this design in their upcoming smartphones.
In 2019, Universal Display Corporation produced a phosphorescent organic LED to be employed in premium smartphones. The phosphorescent organic LED can be utilized for smartphones having versatile features.
In 2017, ZTE corporation launched Axon M smartphone. The device includes two separate screens which act as individual displays on both sides of the smartphone yet can merge to make a single screen using software modifications. The company focuses on the continuous development of its smartphone business segment to compete with the market leaders.
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By Display Type
- Smartphone Display
- Tablets And Notebook
- Wearable Display
- North America
- Latin America
- Rest of World
Among the regions, Asia-Pacific accounts for the highest market share owing to a high number of displays manufactured in the region, unit shipments, and the thriving consumer electronics market. The Asian market witnesses a significant presence of display manufacturers such as LG Displays, and Samsung Electronics. Moreover, the increased smartphone ownership and high demand for new and advanced smartphone displays help boost the foldable display market in Asia. China, South Korea, and Taiwan are amongst the leading countries with the highest manufacturing and export of display units. On the other hand, North America accounts for the second spot in the market due to the rising applications of flexible displays in smartphones and television displays.
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- Tier 1 players- established companies in the market with a major market share
- Tier 2 players
- Emerging players which are growing rapidly
- New Entrants
- Growth prospects
- SWOT analysis
- Key trends
- Key data points affecting market growth
Objectives of the Study:
- To provide an exhaustive analysis on the global foldable display market by display type, by application and by region
- To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
- To evaluate and forecast micro-markets and the overall market
- To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and rest of the world
- To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
- Profiling of companies to evaluate their market shares, strategies, financials and core competencies
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