Market Definition
The global Foldable Display Market size was valued at USD 0.66 billion in 2022 and is predicted to reach USD 30.33 billion by 2030 with a CAGR of 61.22% from 2023-2030.
Foldable displays are the type of displays that are highly flexible in nature as compared to traditional flat surface displays. Metal foldable displays leverage flexible display technology to revolutionize the electronics industry. They offer unprecedented versatility, enabling devices to be bent and folded, providing enhanced user experiences and opening new possibilities. These displays are reshaping the concept of traditional flat displays, driving innovation and transforming the future of electronic devices. This market encompasses various industries such as smartphones, tablets, wearable devices, and other consumer electronics, where the demand for innovative and space-efficient displays is growing.
Market Dynamics and Trends
The foldable display market is driven by the growing demand for advanced smartphone displays, the proliferation of smartphones in developing economies, and the expanding use of foldable displays in various applications such as tablets, notebooks, televisions, and wearables. For instance, in August 2022, Samsung launched its latest foldable smartphones called Fold 4 and Flip 4 in India, which received around 50000 pre-bookings within the first 12 hours of the announcement. Such popularity of foldable smartphones among consumers has led manufactures to constantly develop and launch new and advance foldable displays, which in turn is expected to further boost the growth of the market.
Moreover, increased adoption of foldable or flexible displays in automotive industry to enhance the quality of infotainment systems in cars and reduce weight of these components is fueling the growth of the market. For instance, in May 2022, Hyundai Mobis unveiled an innovative automotive display designed specifically for autonomous vehicles.
This cutting-edge technology features an adjustable and movable ultra-large curved screen, commonly referred to as a swivel display. The screen can be moved both up and down, offering enhanced flexibility and adaptability in the vehicle's interior. However, high cost of foldable displays and associated disadvantage such as minimum scratch resistance, low reliability are the factors restraining the growth of the market. On the contrary, introduction of foldable displays for laptops which significantly increases the versatility of these devices and offers features such as large touch screens which can be folded for better mobility is expected to create ample opportunities for the market in the coming years.
Market Segmentations and Scope of the Study
The foldable display market report is segmented on the basis of technology, material, type and application. On the basis of technology, the market is divided into electronic ink, gyricon, organic LCD, and OLED. On the basis of material, the market is classified into glass and plastic. On the basis of type, the market is divided into curved display, bendable and foldable display, rollable display. Based on application, the market is segmented into wearable, tv, smartphone, e-reader, and automotive. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis
Asia Pacific holds the dominant share of foldable display market, and is expected to continue its dominance throughout the forecast period. This is attributed to factors such as presence of large young consumer base that are constantly attracted towards new technology in smart phones in countries such as China, Japan and India. Also, proliferation of high-speed internet services in these countries have further increased the awareness and popularity of new smartphone technology such as foldable smartphones. This has led to an increase in sales of smartphone devices with foldable displays in this region, which in turn is driving the growth of the market.
Moreover, presence of key market players such as Samsung display, TCL, and LG display in the region is further fueling the growth of foldable display market. These manufactures are constantly developing new foldable displays and creating new trends in the market. For instance, in February 2022, TCL showcased two new foldable device concepts with rollable and bendable screens called 360-degree Ultra Flex and Fold N' Roll. Ultra-Flex prototype has a display that can fold inwards and outwards, while Fold N' Roll can fold and expand the size of its screen.
On the other hand, North America is expected to show a steady rise in the foldable display market due to the rise in disposable income along with the presence of large automotive industry in countries such as US and Canada. Automotive industry in this region is one the largest and constantly adopting advance technologies such as foldable or flexible displays to attract new customers and stay competitive in the market. Moreover, consumers' preferences and lifestyle patterns have shifted towards adopting more flexible and versatile devices. The ability to have a compact device for everyday use that can transform into a larger display for immersive experiences aligns with these evolving consumer trends.
Furthermore, Collaborations between display manufacturers, smartphone makers, and other technology companies have contributed to the growth of the foldable display industry. For instance, in July 2023, report says that Apple is actively planning to introduce a foldable MacBook within the next few years. The company is engaging in discussions with suppliers such as Samsung and LG to source foldable displays for the upcoming laptop.
Competitive Landscape
Various market players operating in the foldable display industry includes Samsung Display Co. Ltd., BOE Display, TCL, Royole, LG Display Co. Ltd, Japan Display Inc., Applied Materials Inc, C3Nano Inc., Semiconductor Energy Laboratory Co. Ltd., and Visionox Technology Inc. These market players are adopting verious strategies such as product launch to maintain their dominance in the global market.
For instance, in November 2022, LG Display reveals world's first stretchable display with micro-LEDs. The company claims that it will offer 20% stretchability and a 100 PPI and could be used in fashion, gaming, wearables and vehicles.
Moreover, in May 2022, Samsung Display demonstrated two-way mobile slidable display and new foldable displays for gaming at Display Week 2022 in California USA.
Furthermore, in March 2022, TCL unveiled new phones and tablets at MWC 2022, along with foldable concept phones featuring TCL’s foldable display. These concept smartphones were named TCL Fold n Roll and TCL 360-degree Ultra Flex.
Key Benefits
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The report provides quantitative analysis and estimations of the foldable display market from 2023 to 2030, which assists in identifying the prevailing market opportunities.
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The study comprises a deep dive analysis of the foldable display market including the current and future trends to depict prevalent investment pockets in the market.
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Information related to key drivers, restraints, and opportunities and their impact on the global market is provided in the report.
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Competitive analysis of the players, along with their market share is provided in the report.
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SWOT analysis and Porters Five Forces model is elaborated in the study.
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Value chain analysis in the market study provides a clear picture of roles of stakeholders.
Key Market Segments
By Technology
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Electronic Ink
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Gyricon
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Organic LCD
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OLED
By Material
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Glass
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Plastic
By Type
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Curved Display
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Bendable and Foldable Display
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Rollable Display
By Application
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Wearable
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TV
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Smartphone
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E-reader
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Automotive
By Region
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North America
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U.S
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Canada
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Mexico
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Europe
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UK
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Germany
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France
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Italy
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Spain
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Denmark
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Netherlands
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Finland
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Sweden
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Norway
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Russia
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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South Korea
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Australia
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Indonesia
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Singapore
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Taiwan
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Thailand
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Rest of Asia-Pacific
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RoW
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Latin America
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Middle East
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Africa
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