Foldable Display Market: Technological advancement to boost Market growth

The Foldable Display Market size was valued at USD 3.05 Billion in 2023 and the total Foldable Display Market revenue is expected to grow at a CAGR of 56.24 % from 2024 to 2030, reaching nearly USD 69.32 Billion by 2030.
Foldable Display Market Overview
The foldable display market is driving the growth of OLED technology, introduces a transformative approach to device construction. OLEDs, composed of organic compounds, emit their own light, eliminating the need for bulky backlights, resulting in thinner and more flexible screens. This innovation offers enhanced color accuracy and a broader color gamut compared to traditional LCDs. With LED displays printed on pliable plastic, their adaptability to bend and fold expands design possibilities.

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According to MMR report the 1Q22 Small OLED Display Market Track published quarterly by UBI Research, shipments of Small OLED Displays (Watches, Smartphones, Foldable phones, etc. under 10 inches) in 2021 amounted to 746 million units, up 34.4% from last year’s 555 million units. The reason for the increase in shipments compared to last year is Apple's iPhone 12. This can be seen as the impact of increased sales of the iPhone 13 and unexpectedly strong sales of the Galaxy Z Fold 3 and Flip 3 phones. Small OLED sales in 2022 are $38.1 billion, up 47.6% from last year’s $29.5 billion.

The working principle involves OLED panels on a flexible plastic membrane, often protected by plastic-based materials instead of tempered glass, preserving their foldable nature. Samsung's Galaxy Z Flip pioneers real foldable glass, achieved through extreme thinness. However, drawbacks persist, including high costs, susceptibility to screen wear from folding, and potential image retention issues. The market's future seems promising, driven by the advantages of space efficiency, mobility, and durability that foldable displays offer. Experts foresee wider adoption in various gadgets, despite the current challenges. As technology advances, innovations like QLED displays with nearly imperceptible pixels hint at further evolution within this dynamic market segment.

In the foldable display market, key players like Samsung, Huawei, and Motorola continually push boundaries. Samsung's Galaxy Z series showcases advancements, like the Z Flip's foldable glass. Huawei's Mate X series emphasizes sleek design and enhanced functionality. Motorola's Razr series merges nostalgia with modern foldable technology. These leaders drive innovation amid challenges such as durability and cost. Among segments, smartphones dominate due to their high consumer demand and potential for design innovation. Smartphones remain pivotal in the foldable display market, offering versatility and driving market growth due to their widespread consumer appeal and constant demand for technological advancements.

The high number of displays manufactured in the region and unit shipments, and the booming consumer electronics market in Asia-Pacific will boost the foldable display market growth. Also, the increased smartphone ownership and high demand for novel and innovative smartphone displays are likely to fuel the foldable display industry in the Asia Pacific. China, South Korea, and Taiwan are leading contributors to the regional market due to the highest Foldable Display manufacturing and exports of display units. The rising investments in research and development activities for the introduction of advanced smartphone displays are predicted to accelerate the growth of this region rapidly. North America held the second-largest market share of xx% in 2022 and is expected to grow at the CAGR of xx% in the coming years owing to the rising applications of flexible displays in smartphones and television displays.
Foldable Display Market Dynamics
Unfolding the Future: The Impact of R&D Investment on Evolutionary Trajectories in Foldable Display Technologies

In the bustling realm of foldable displays, the surge in R&D investment emerges as a pivotal force propelling the market's evolution. Leading Foldable display manufacturers, particularly in tech powerhouse nations like South Korea and China, are channelling substantial resources into pioneering foldable display technologies. A prime example is Samsung, the South Korean electronics giant, which stands at the forefront of this technological frontier. Their substantial investment in R&D has borne fruit in the form of ground-breaking innovations like the Infinity Flex display, a cutting-edge technology showcased in their revolutionary Galaxy Fold smartphone. This continuous influx of R&D investment serves as the lifeblood fueling advancements in foldable displays.

The strategic focus lies in overcoming persistent technical challenges that have lingered in the domain. These challenges encompass various aspects crucial to user acceptance and satisfaction, such as enhancing durability to withstand constant folding, minimizing the visibility of creases that may appear over time, and innovating materials that strike the perfect balance between flexibility, scratch resistance, and energy efficiency.

The journey toward perfecting foldable displays is a tale of persistent innovation fueled by R&D endeavors. These investments are not merely financial but are also infused with a spirit of exploration and a quest for excellence. By pushing the boundaries of technological innovation, these R&D initiatives strive to unlock the full potential of foldable displays. Their ultimate goal is to revolutionize diverse industries and elevate user experiences to unprecedented levels. This collective pursuit of innovation, driven by continuous R&D investment, promises to reshape the landscape of displays, opening doors to next-generation technologies that will undoubtedly redefine how we interact with and perceive our devices.

Rising Demand for Premium Smartphones to boost the folding display market growth

The surge in demand for premium smartphones acts as a potent catalyst propelling the foldable display market into a realm of exponential growth. The burgeoning demand for premium smartphones stands as a pivotal catalyst driving the foldable display market's meteoric rise, substantiated by compelling data. Forecasts predict the global foldable display market to skyrocket to USD 53,892.24 million by 2030, propelled by an astounding 69.90% CAGR from 2023 to 2030. This soaring trajectory underscores the escalating preference for premium smartphones boasting distinctive features like foldable displays.

Smartphones currently dominate this Foldable Display Industry, securing over 80% of its share, emphasizing their substantial role in driving the demand for foldable display technology. Regions such as China and India, steeped in booming economies and a massive smartphone user base, exhibit robust appetites for premium smartphones, especially those integrating foldable displays. The resounding success of Apple's iPhone 14 Pro Max in the United States, with over 40 million units sold in its inaugural year, vividly illustrates consumers' inclination toward high-end smartphones featuring innovative attributes. Consequently, major players like Samsung, Huawei, and Xiaomi are substantially investing in foldable display R&D, triggering escalated production of foldable smartphones and intensifying market growth.



While smartphones currently dominate, future prospects hint at diversification into tablets, laptops, and wearables, promising significant growth in these segments. This escalating demand for premium smartphones with foldable displays reverberates across the entire smartphone ecosystem, fostering adaptation and innovation among app developers, accessory manufacturers, and beyond. The surging demand for premium smartphones underscores the allure of unique features and sophisticated designs sought by consumers, notably in regions like China and India. The advent of foldable displays provides a distinguishing element, exemplified by the triumph of Apple's iPhone 14 Pro Max in the US market due to its advanced attributes and sleek aesthetics. The popularity of premium smartphones fuels the pursuit of foldable displays, offering larger screen sizes and immersive experiences within compact form factors. This consumer-driven trend fuels substantial investments by smartphone manufacturers, propelling the evolution and growth of foldable display technology.

Trends Shaping the Foldable Display Market

Recent advancements in screen technology have honed in on three crucial aspects: form factor, energy efficiency, and environmental sustainability. Among these, flexible displays stand out, offering solutions that are lightweight, slim, and foldable. Simultaneously, e-paper-based bistable displays are gaining traction for their energy-saving capabilities and prolonged operational durations without recharging. Notably, Roll-to-Roll (R2R) technology emerges as a pivotal core technology for cost-effective and eco-friendly printed electronics in the future market landscape. Significant strides have been made in display technology development. Thin-film transistor liquid crystal display (TFT-LCD) applications have become commonplace, with Samsung Display Co. Ltd. leading the production of active-matrix organic light-emitting diode displays (AMOLEDs) using glass substrates. These displays are already integrated into smart handheld devices like smartphones and tablets, efforts are underway to develop AMOLED production technology using plastic substrates, with Samsung Electronics Co. and LG Electronics gearing up to introduce flexible AMOLED products by leveraging advanced technology.

The Foldable Display market value of flexible AMOLED display applications is forecasted to surge, primarily driven by their lightweight and durable nature. Initial demand stems from personal mobile devices, prompting a need for increased battery capacity and lighter weight. Moving into the next phase, the emphasis is on individualization and crafting a framework for foldable products. This stage is propelled by trendy designs and the rise of wearable applications such as health monitoring devices, foldable tablets, and smartphones. Projections suggest that by 2020, the output value of flexible AMOLED panels could soar to an impressive US$37 billion. The evolution from unbreakable, curved, wearable to foldable displays is anticipated to herald a design revolution in the realm of display products, promising a transformative shift in user experiences and device functionalities.

Substantial production costs to restrain Foldable Display Market growth

The soaring promise of foldable displays encounters significant impediments hindering their widespread integration. Foremost among these hurdles is the substantial production costs translating into steep price tags for foldable devices. A striking example lies in the Samsung Galaxy Z Fold4, commanding a hefty starting price of $1,799 in the United States, surpassing even the most premium non-foldable smartphones. This financial barrier restricts access, particularly for budget-conscious consumers. Moreover, intricate manufacturing processes and reliance on sophisticated materials contribute to supply chain complexities, leading to production delays and amplifying the pricing challenges.

Another substantial obstacle is the persisting apprehension surrounding durability. Early iterations of foldable displays were susceptible to scratches, creases, and hinge issues, casting doubt on their long-term reliability. Though strides have been made, these concerns linger, deterring potential buyers. In a recent Chinese consumer survey, over 50% expressed apprehensions regarding foldable display durability. Further complicating adoption is the software adaptation conundrum. Seamlessly optimizing apps and interfaces for both folded and unfolded states poses a multifaceted challenge. The absence of a robust and streamlined software ecosystem curtail device functionality and user experience. Tackling these constraints demands collaborative efforts from Foldable Display manufacturers, software developers, and industry stakeholders. Addressing these challenges through technological innovations, cost-cutting measures, and comprehensive market education stands pivotal to unleash the full potential of foldable displays and propel their widespread embrace in the coming years.
Foldable Display Market Segment Analysis
Based on type, the market is segmented into LED, OLED, and AMOLED. OLED segment dominated the market in 2023 and is expected to hold the largest Foldable Display Market share over the forecast period. Flexible displays constructed from OLED are energy efficient than other alternatives. OLEDs are accessible in an exceedingly small form factor, therefore it possible for the Foldable Display manufacturers to construct them as individual pixels. They are already inducted into numerous consumer electronics like curved OLED TVs etc., generating significant demand. The benefits of OLED technology in integration with foldable displays & screens are gaining high popularity among electronic device manufacturers due to the flexibility, and better picture quality. The use of OLEDs in smartphones offers thinner, lighter, and exceptionally durable features than conventional screens.
Foldable Display Market Regional Insight
Asia Pacific stands as the leading force in the foldable display market, held the largest Foldable Display Market share of over 56.21%. This dominance is propelled by several contributing factors. The region boasts the highest smartphone penetration globally, fostering an expansive consumer base eagerly embracing foldable devices. Early adoption tendencies among Asian consumers signify a receptiveness to novel technologies, spurring considerable interest in foldable displays. Proactive governmental backing, notably from countries like China and South Korea, accelerates technological advancements, particularly in foldable display innovations. The presence of industry giants such as Samsung and LG further bolsters the region's stronghold. Competitive pricing strategies stemming from lower production costs render foldable devices more accessible, amplifying Foldable Display market penetration.

North America accounts for a substantial 31.8 % share in the foldable display market, driven by distinct factors that shape its landscape. The region's consumer base, characterized by high disposable income, enables the adoption of premium devices like foldable smartphones. The robust brand recognition of established players such as Samsung and Apple fuels greater acceptance and adoption of foldable devices among North American consumers. Early market entry initiatives in North America, witnessing the introduction of commercially available foldable devices, have generated a cohort of early adopters, stimulating market growth. Growing consumer awareness and interest in foldable technology further catalyze market demand, positioning North America as a pivotal region in the foldable display market.

Asia Pacific is anticipated to sustain its market dominance, propelled by its vast population, robust smartphone penetration, and supportive governmental initiatives. Meanwhile, North America is poised for consistent market expansion due to increasing consumer awareness, rising interest, and potential product launches from major industry players like Apple. Other regions, including Europe, Latin America, and the Middle East and Africa, are projected to experience gradual yet steady growth as foldable technology becomes more commonplace and economically feasible. This regional analysis underscores the pivotal roles played by Asia Pacific and North America, driven by their expansive consumer bases, supportive policies, and industry leadership, collectively steering the trajectory of the foldable display market.
A report covers the recent development in the market for the global Foldable Display market e.g., Royole Corporation declared the introduction of its new smartphone plus tablet offering, FLexPai, with a display supporting both folded and unfolded usability. The new product addresses several applications containing office, gaming, and entertainment.



Foldable Display Market Competitive Landscape

The foldable display market showcases a dynamic landscape characterized by key market leaders, emerging players, component suppliers, niche participants, and notable absentees. Samsung Electronics currently dominates with a significant market share, leveraging its robust R&D and early adoption advantage. LG Display, while prominent in OLED manufacturing, faces catch-up challenges in the foldable technology sphere. Emerging Chinese entities like BOE Technology exhibit cost-effective solutions, while Royole Corporation struggles with limited market share despite its pioneering role. Meanwhile, component suppliers like Applied Materials play a crucial role in the manufacturing ecosystem. Niche players focus on specialized OLED technology, and companies like Apple, Google, and Microsoft hint at future entries, influencing the software and device landscape. Competitive trends revolve around larger, sturdier displays, cost-efficient solutions, diversification in applications, collaborative partnerships, and innovation in materials and technology. The market anticipates substantial growth, driven by technological advancements, rising consumer demand for unique features, and the extension of foldable displays beyond smartphones.

In this landscape, Samsung leads as a foldable display pioneer, facing pricing and durability challenges, while emerging Chinese players like BOE present competitive pricing. LG Display, Royole, and niche players navigate unique strengths and weaknesses. The market anticipates growth driven by evolving technology, expanding applications, and increased consumer demand. The competitive landscape is poised for intensification, emphasizing innovation, cost-effectiveness, partnerships, and brand reputation as pivotal factors shaping the future of foldable display technology. The dynamics evolve rapidly with the emergence of new players and the potential entry of major absentees, reshaping competitive strategies and industry benchmarks in this transformative sector.

Samsung's Unbreakable Display: The unveiling of the Galaxy Z Fold5 with an unbreakable display on October 26, 2023, marks a significant leap in durability for foldable phones. LG's Multi-Window Tablet: LG showcased the LG Fold Tab on Novembe, 2023 introducing a unique multi-window feature in a foldable tablet, enhancing user multitasking capabilities. BOE's Mass Production Milestone: On December, 2023, BOE's announcement of mass-produced foldable OLED panels signifies increased availability and affordability in the market.

Xiaomi-Google Collaboration: Xiaomi and Google's partnership, revealed on December, 2023, to develop a foldable Chrome book indicates potential advancements in mobile computing.
Foldable Display Market: Inquire before buying



Global Foldable Display Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 3.05 Bn.


Forecast Period 2024 to 2030 CAGR:
56.24%
Market Size in 2030:
US $ 69.32 Bn.


 Segments Covered:
by Type
LED
OLED
AMOLED


by Component
Glass
Metal
Plastic


by Application
Smartphone display
Tablets and notebook
Television
Wearable display
Others



Foldable Display Market, by Region:
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Foldable Display Manufactures include
1. Samsung Electronics Co., Ltd (South Korea)
2. LG Display Co., Ltd (South Korea)
3. Applied Materials, Inc. (United States)
4. Royole Corporation (United States)
5. Tianma Microelectronics Co., Ltd (China)
6. Visionox Technology Inc. (China)
7. Huawei Technologies (Guangdong, China)
8. Xiaomi (Beijing)
9. Apple Inc. (Cupertino, California)
10. Sony Corporation (Minato, Tokyo)
11. Sharp Corporation (Japan)
12. Innolux Corporation(Taiwan)
13. Panasonic Corporation (Kadoma, Osaka, Japan)
14. BOE (China)

Frequently asked Questions:

1: What is driving the growth of OLED technology in the foldable display market?
Ans: The growth is driven by OLED's thin and flexible nature, eliminating the need for bulky backlights and offering enhanced color accuracy and a broader color gamut compared to traditional LCDs.

2. What are the main challenges faced by foldable displays?
Ans: Key challenges include high costs, durability issues like screen wear from folding, and potential image retention problems.

3. How does the Asia-Pacific region influence the foldable display market?
Ans: The Asia-Pacific region leads due to high smartphone penetration, early adoption of new technologies, and significant manufacturing and export activities, especially in China, South Korea, and Taiwan.

4. What role does R&D investment play in the foldable display market?
Ans: R&D investment is crucial for overcoming technical challenges such as durability and flexibility, with companies like Samsung leading with innovations like the Infinity Flex display.

5. What trends are shaping the foldable display market?
Ans: Key trends include advancements in form factor, energy efficiency, and environmental sustainability, with technologies like flexible AMOLED and Roll-to-Roll (R2R) manufacturing gaining traction.