According to a recent report by Reports and Data, the global Foldable Display Market is predicted to reach USD 8,772.3 Million by 2028. The market growth will be fueled by the increasing demand for consumer electronics, particularly smartphones and tablets. The electronics and semiconductors industries have been investing heavily in research and development, leading to the creation of cutting-edge technologies such as OLED, AMOLED, and E-Papers. These technologies are being utilized in the production of foldable devices.
Foldable devices provide a larger display in a compact form factor compared to tablets, making them ideal for immersive experiences like playing games, watching videos, and reading books and articles. The demand for these devices is due to their portability, and a prominent display enables more flexible multi-tasking. Samsung demonstrated how to use WhatsApp, watch a YouTube video, and look up flight tickets in three separate windows on a foldable device. Among the end-users, smartphones accounted for the largest market share of ~24% in 2018, closely followed by tablets.
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The report forecasts that television will experience the highest CAGR of 61.8% during the forecast period. This is because of rapid investments and developments in the consumer electronics market. The Asia Pacific region held the largest market share of ~30% in 2018 and is predicted to continue dominating the market throughout the forecast period. Technological advancements and continuous developments in OLED technology will create numerous opportunities for market growth in the region.
Driving factors of Foldable Display Market
- Growing demand for consumer electronics, especially smartphones and tablets.
- Increasing investments and developments in the electronics and semiconductors industries.
- Technological advancements and continuous developments in OLED technology.
- Portability and a larger display in a compact form factor compared to tablets.
- Flexible multi-tasking and enhanced productivity by allowing users to multitask.
- Innovations in cutting-edge technologies such as OLED, AMOLED, and E-Papers.
- Rapid investments and developments in the consumer electronics market.
- Presence of major players in the industry and their continuous innovations.
- Rising demand for immersive experiences like playing games, watching videos, and reading books and articles.
- Television industry’s interest in foldable displays as an emerging technology.
Some of the notable innovations in the Foldable Display Market
- Royole FlexPai – The world’s first foldable smartphone launched by Royole Corporation in October 2018.
- Samsung Galaxy Fold – A foldable smartphone launched by Samsung in 2019 with a 7.3-inch Infinity Flex Display.
- LG Signature OLED TV R – The world’s first rollable OLED TV announced in 2019. The TV can roll up into its base and has three viewing choices.
- Huawei Mate X – A foldable smartphone with a larger display than Samsung Galaxy Fold, launched by Huawei in 2019.
- Xiaomi Mi Mix Fold – A foldable smartphone with liquid lens technology, launched by Xiaomi in 2021.
- Microsoft Surface Duo – A dual-screen smartphone with a hinge design launched by Microsoft in 2020.
- TCL Trifold – A foldable smartphone with a trifold design, showcased by TCL in 2021.
Major players in the market 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.
To know more about the report @ https://www.reportsanddata.com/report-detail/foldable-display-market
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