CHICAGO, Aug. 9, 2024 /PRNewswire/ -- The Foldable Display Market is expected to reach USD 13.2 billion by 2029 from USD 4.6 billion in 2024, at a CAGR of 23.6% during the 2024–2029 period according to a new report by MarketsandMarkets™. The major factors driving the market growth of the Foldable Display market include rising adoption of smartphones application. Additionally, the ongoing technological advancements, and rising consumer demand for portable devices with compact designs provide growth opportunities to the foldable display market players.

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Foldable Display Market Report Scope:

Smartphones are projected to account for the largest market share in the foldable display market during the forecast period.

Smartphones dominated the market, capturing a major share among foldable applications, underscoring their advanced technological features and ease to use as one of the most used applications of foldable display solutions. The segment of laptops and tablets is projected to experience significant growth making them a versatile and productive solution for remote working. The reason for foldable display adoption by laptops and tablets lies mainly in the changing consumer demand for a device that could act as both a laptop and a tablet. As the acceptance of foldable technology increases with continuous improvement and integrations that enable new innovative features to better user experience and usability, so will the market for foldable displays in laptops and tablets.

Panels sized up to 20 inches sized panels accounts for the largest market share of the foldable displays market during the forecast period.

Foldable displays up to 8 inches, is a very dynamic market segment, driven by innovations that increase both portability and usability. Foldability in these sized foldable displays provided single-handed operation when folded, enhancing convenience in the case of a phone call or quick interaction. Displays within the 8-20 inches range are mainly foldable displays in tablets and laptops. Advances in flexible OLED technology and hybrid substrates make sure that foldable devices could keep up with their durability and performance in continuous use. A major driver of the market for foldable displays above 20 inches comes from the need for space-saving solutions in sectors such as home entertainment, corporate environments, and commercial display applications. With the arrival of technology, markets for foldable displays would gain importance across all sectors, aided by innovations in flexible materials, manufacturing techniques, and consumer demand for versatile, high-performance devices.

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Asia Pacific is forecasted to achieve the highest CAGR in the foldable display market throughout the forecast period.

Asia Pacific is accounted for the largest share of the foldable display industry. The presence of established several foldable display manufacturing companies such as Samsung Electronics Co., Ltd. (South Korea), BOE Technology Group Co., Ltd. (China), and Visionox Company (China), is increasing integration in sectors like consumer electronics and commercial displays. Advanced consumer electronics devices, such as smartphones, tablets, and laptops, present huge demand in the Asia Pacific region. North America provides a strong market for foldable display devices since North American consumers are inclined to be early adopters of new technologies. Meanwhile, component manufacturers and suppliers, like specialty chemicals by SCHOTT Group (Germany), significantly drive growth for the European foldable display market.

Key Players

The report profiles key players in foldable display companies such Samsung Electronics Co., Ltd. (South Korea), BOE Technology Group Co., Ltd. (China), Visionox Company (China), Royole Corporation (China), TCL China Star Optoelectronics Co., Ltd. (China), AUO Corporation (Taiwan), Tianma (China), Huawei Technologies Co. Ltd. (China), Motorola Mobility LLC (US), and Honor Device Co., Ltd. (China).

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