Foldable Display Market Forecasts to 2030 - Global Analysis By Display Type, Substrate Material, Fold Mechanism, Application, End User and By Geography

According to Stratistics MRC, the Global Foldable Display Market is accounted for $11.29 billion in 2023 and is expected to reach $91.31 billion by 2030 growing at a CAGR of 34.8% during the forecast period. Foldable displays are innovative screen technologies that can be bent or folded without compromising functionality. They enable the creation of flexible devices, such as smart phones and tablets, offering users the convenience of a larger screen that can be easily folded for portability. These displays use advanced materials and engineering to maintain durability and image quality while allowing for a compact form factor.

According to Cisco Systems, the number of connected wearable devices in Asia is expected to reach 311 million in 2022, from 258.2 million in 2021.

Market Dynamics:

Driver:

Escalating demand for innovative technologies

Consumers are increasingly drawn to foldable displays, which offer enhanced portability and versatility in electronic devices such as smartphones and tablets. This surge in demand is fuelled by the desire for cutting-edge features and the seamless integration of flexible display technology into everyday gadgets. As a result, the market is experiencing a significant boost as manufacturers strive to meet the rising consumer expectations for advanced and futuristic display solutions.

Restraint:

Limited application ecosystem

The unique form factor of foldable devices necessitates tailored applications to fully exploit their capabilities. However, the slow adoption and adaptation of existing apps to suit these displays hinder user experience and diminish the appeal of foldable devices. This restraint poses a challenge for manufacturers in delivering seamless functionality and could impede widespread consumer acceptance of foldable displays in the current market landscape.

Opportunity:

Increasing investments in R&D

The increasing investments in R&D drive innovation, leading to the development of advanced technologies and improved manufacturing processes for foldable displays. As R&D efforts continue to address challenges and enhance product features, the market is poised for growth. Companies that prioritize and invest in R&D activities gain a competitive edge by delivering cutting-edge foldable display solutions, meeting evolving consumer demands, and expanding market share in this dynamic and promising industry.

Threat:

High manufacturing costs

Foldable displays have high manufacturing costs due to the complex engineering required for flexible materials, precise hinges, and durable screens. The intricacies of ensuring flexibility without compromising display quality contribute to expensive production processes. Also, the premium pricing makes foldable devices less accessible to a broader market. These high costs limit mass production and result in expensive end products, hindering widespread consumer adoption.

Covid-19 Impact

The covid-19 pandemic initially disrupted the market, causing production delays and supply chain challenges. However, as the world adapted to remote work and increased digital engagement, there was a subsequent surge in demand for innovative devices with foldable displays. This trend led to a rebound in the market, with manufacturers introducing new foldable smart phones and tablets. The pandemic highlighted the importance of flexible and versatile technology, contributing to the resilience and growth of the foldable display market amid global uncertainties.

The inward fold segment is expected to be the largest during the forecast period

The inward fold segment is estimated to have a lucrative growth. The Inward Fold display technology enables a device to fold inwards, protecting the screen when not in use and providing a compact form factor. The flexible display seamlessly bends inward, enhancing portability and durability. This mechanism caters to the growing demand for versatile and space-efficient devices, offering users a unique and practical solution. The inward fold display represents a cutting-edge approach to foldable technology, revolutionizing the way users interact with and carry their devices.

The wearable devices segment is expected to have the highest CAGR during the forecast period

The wearable devices segment is anticipated to witness the highest CAGR growth during the forecast period. Wearable devices with foldable displays represent a cutting-edge evolution in technology, seamlessly merging portability and functionality. These devices feature flexible screens that can be folded, offering a compact form factor when not in use. The foldable display technology allows for innovative designs, enhanced user experiences, and increased versatility in wearables. This advancement opens new possibilities, providing users with a unique blend of convenience and style in the rapidly evolving world of wearable technology.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the increasing demand for innovative and flexible electronic devices. With advancements in technology and rising consumer preferences for compact and versatile gadgets, key players in countries like South Korea, China, and Japan are actively contributing to the market expansion. The region's flourishing smartphone and electronics industry, coupled with a tech-savvy consumer base, fuels the adoption of foldable displays in various applications, propelling the Asia Pacific foldable display market forward.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period. The leading flexible display manufacturers of the region, such as Samsung, LG Display, and others, are investing considerably in enhancing their production facilities to introduce new products. Moreover, American countries are the base for display manufacturing foundries, which positions them in a dominating market position. The region's tech-savvy population and a competitive market landscape further contribute to the rapid adoption of foldable displays, making North America a key player in the market.

Key players in the market

Some of the key players profiled in the Foldable Display Market include Royole Corporation, Samsung, LG Display, Tianma, BOE Technology, Ube Industries, Kaneka Corporation, Sumitomo Chemical, Semiconductor Energy Laboratory (SEL), Asahi Glass, OnePlus, C3 Nano, The 3M Company, Fuji Film, Huawei Technologies Limited and Innolux Corporation.

Key Developments:

In January 2024, Samsung Display unveiled groundbreaking products at CES 2024 that will shape the future of the display industry. The company launched new generation monitor-sized OLEDs with both foldable and slidable technologies. This also includes QD-OLEDs designed for monitors with the highest level of pixel density and refresh rates for self-illuminating technology.

In October 2023, OnePlus, the Chinese smartphone brand, known for its premium headsets, has launched its very first foldable phone called the OnePlus Open. The foldable phone runs on OxygenOS 13.2 operating system, which is based on Android 13.

Display Types Covered:

• Organic Light Emitting Diode (OLED)
• Polymer Light Emitting Diode (PLED) Displays
• Thin-Film Transistor (TFT) Displays
• Active-Matrix Organic Light Emitting Diode (AMOLED)
• Passive-Matrix Organic Light Emitting Diode (PMOLED)
• Other Display Types

Substrate Materials Covered:

• Glass
• Plastic
• Other Substrate Materials

Fold Mechanisms Covered:

• Inward Fold
• Outward Fold
• Rollable
• Fold & Slide

Applications Covered:

• Smart Phones
• Tablets
• Laptops
• Televisions
• Wearable Devices
• Other Applications

End Users Covered:

• Consumer Electronics
• Healthcare
• Automotive
• Aerospace & Defense
• Industrial
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances