Foldable Display Market Size Will Reach USD 8,772.3 Million By 2028 With CAGR of 53.20% | Reports and Data
The growing demand for consumer electronics, especially smartphones is one of the significant factors contributing to the growth of the market.
Market Size – USD 268.9 Million in 2020, Market Growth – CAGR of 53.20%, Market Trends – The popularity of OLED technology.
The global foldable display market is forecast to reach USD 8,772.3 Million by 2028, according to a new report by Reports and Data. The growing demand for consumer electronics, especially smartphones and tablets will influence the growth of the market. The increasing investments and developments in the electronics and semiconductors industries have led to the innovation of some of the most trending technologies, such as OLED, AMOLED, and E-Papers, which are being used in the manufacturing of these devices.
Foldable devices afford a large display in a smaller form factor than a tablet, which can be ideal for a more immersive experience while playing games, watching videos, and reading books & articles. The demand for these devices is attributed to its portability. A prominent display also allows for more flexible multi-tasking. For instance, Samsung demonstrated how to use WhatsApp, watch a YouTube video, and look up flight tickets in three separate windows. Android has supported this technology for a while now. It comes in a lot handier on a wide tablet-sized screen than a standard smartphone. As these devices are bigger and thicker than traditional devices, the manufacturers can use more hardware components into them.
Key participants include LG Display Co., Ltd, Samsung Electronics Co., Ltd, Royole Corporation, Semiconductor Energy Laboratory Co., Ltd, Applied Materials, Inc., C3Nano, Inc., Altenergy Power System, Inc., Tianma Microelectronics Co., Ltd, Xiaomi Corporation, BOE Technology Group Co., and Visionox Technology Inc, among others.
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Further key findings from the report suggest
- Among the end-users, smartphones accounted for the largest market share of ~24% in the year 2018, closely followed by tablets. The biggest potential advantage of foldable smartphones is its thin, light, unbreakable larger display. Foldable smartphones feature a larger screen, which can enhance productivity by allowing the users to multitask. Royole Technology was the first organization to launch a foldable smartphone named FlexPai in October 2018 in Beijing.
- Television is forecast to witness the highest CAGR of 61.8% during the forecast period, owing to the rapid investments and developments in the consumer electronics market. LG Signature OLED TV R is the first rollable OLED TV in the world, announced in the year 2019. The TV can roll up into its base and has three viewing choices – full view, line view, and zero views, in which the display is entirely in the base.
- The Asia Pacific region held the largest market share of ~30% in the year 2018 and is expected to dominate the market throughout the forecast period. Technological advancements and continuous developments in OLED technology are creating numerous opportunities for the growth of the market in the region. Rapid developments in the consumer electronics industry in the region, especially in China and Japan, will be a major driver. The presence of some of the major players such as Samsung, Xiomi Corporation, LG, and others, and their innovations will also influence the market growth in the coming years.
- The companies have adopted various strategies, including mergers, acquisitions, and partnerships to hold ongoing trails and come up with new developments in the market.
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For this report, Reports and Data have segmented into the global Foldable Display market on the basis of technology, End Use, industry vertical, and region:
Technology Outlook (Volume, Thousand Units and Revenue, USD Billion; 2018-2028)
- Electronic Paper Display (EPD)
End Use Outlook (Volume, Thousand Units and Revenue, USD Billion; 2018-2028)
- Wearable Display
Industry Vertical Outlook (Volume, Thousand Units and Revenue, USD Billion; 2018-2028)
- Consumer Electronics
- Military & Defense
Regional Outlook (Volume, Thousand Units and Revenue, USD Billion; 2018-2028)
- North America
- Asia Pacific
- Latin America
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Key Advantages of Foldable Display Report:
- Identification and analysis of the market size and competition
- Qualitative and quantitative analysis of the market data
- Data validated by industry experts after extensive primary and secondary research
- Extensive regional analysis of the Foldable Display industry
- Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
- SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
- Feasibility analysis and investment analysis to enable strategic investment decisions
- Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of the Foldable Display market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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