Foldable Display Market Size, Share & Industry Growth Analysis Report by Technology (OLED, Direct-view LED), Panel Size (Up to 20”, Above 20”), Application (Smartphones, Laptops and Tablets, Large Format Displays and Digital Signage), Material, Resolution, Type and Region - Global Forecast to 2029
Updated on : September 16, 2024
Foldable Display Market Size & Growth
[212 Pages Report] The foldable display market size is estimated to be worth USD 4.6 billion in 2024 and is projected to reach USD 13.2 billion by 2029, at a CAGR of 23.6% during the forecast period.
The surging adoption of OLED foldable displays, including AMOLED and POLED, in a number of applications, along with an increasing demand for foldable displays in consumer electronics, is expected to strongly support regional market growth. Durable, reliable, and portable, with highly efficient foldable displays endorsed by advanced technologies, further propelled the market by introducing innovative foldable devices to meet modern consumer needs. Another key factor is the presence of major companies that play a crucial role in the Asian Pacific foldable display market include the following: Samsung Electronics Co., Ltd. (South Korea), BOE Technology Group Co., Ltd. (China), Visionox Company (China), Royole Corporation (China), and TCL China Star Optoelectronics Co., Ltd. (China). Factors such as the improving economic backdrop, rising disposable incomes, and demand for high-end electronics devices in the region, are expected to drive the market for foldable display panels. Consumers in China, India, and Japan drives interest, while innovations in flexible OLED technology improve durability and performance, raising appeal to both consumers and businesses.
Foldable Display Market Trends:
Imapct of AI/Gen AI on Foldable Display Market
Artificial intelligence (AI) is expected to significantly transform the foldable display ecosystem. The integration of AI with displays and related software offers a wide range of capabilities ranging from the enhancement of videos and images in real-time to facilitating personalized content being displayed in commercial and retail settings. Furthermore, the integration of AI also facilitates the enhancement of smart display features, integration of displays with other smart home devices such as intelligent voice assistants, and development of advanced features tailor-made for augmented and virtual reality (AR and VR) solutions and wearable devices. Furthermore, in the industrial setting, the integration of AI enables predictive maintenance of display hardware, thereby significantly reducing downtime and maintenance costs.
Attractive Opportunities in Foldable Display Market Size
Foldable Display Market Forecast to 2029
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Foldable Display Market Dynamics
Driver: Expansion of application areas
Foldable displays take a lot of industries to a whole new level, which started with just smartphones, but now includes laptops, wearables, and the automotive industry. Laptops bring together the mobility of tablets and the productivity of classic laptops into a compact design with larger screens. Wearables, such as smartwatches, have foldable displays that make them sleeker with enhanced informational visibility. They improve user interfaces in in-car entertainment, dashboards, and infotainment systems. This growth in new applications that fuels the market and satisfies the consumer's demand for flexible, high-performance display solutions.
Restraint: High production costs of foldable displays
High costs are inherent in the manufacturing process of foldable displays, largely due to advanced manufacturing techniques and specialized materials. The most important among them are complicated technology, low yield rates, and high R&D expenses. Advanced technology used in foldable substrates, cutting-edge OLED and Micro-LED panels, and robust hinge mechanisms provide the foundation for the lowering of production costs and increasing defect rates, thereby generating more wastage. It is also the investments in R&D, continuous and necessary for improving technologies and overcoming challenges, that have to a large extent increased these costs, which have been passed down to consumers. In this regard, high production costs would limit market growth due to the lower accessibility and adoption, while continuous innovation and process optimization could result in cost reduction and wider market acceptance.
Opportunity: Advancements in technology
An abundance of applications accompanied by enhanced performance and durability makes foldable display markets resonate due to technological advancement. Some important developments in OLED technology and micro-LED have come with flexibility, brightness, and energy efficiency enhancements, while flexible electronics and advanced materials like graphene will continue to ensure more durable and thinner screens. Manufacturing techniques like precision laser cutting and advanced lamination, are innovating, raising production efficiency, and cutting down on costs. Improvements of this sort should provide a significant impetus to market expansion and consumer adoption, keeping foldable displays at the very frontier of technology.
Challenge: Limited use of foldable displays
Due to the narrow range of applications and the high costs involved, testing foldable displays has remained narrow in scope. Furthermore, there is skepticism by consumers about durability and practicality. Foldable display technology's main application area remains in high-end smartphones and some niche areas. Perceived problems of screen longevity, hinge durability, and overall robustness are some of the perceptions coupled with the higher cost compared to traditional displays that restrict their broader use. It requires advanced technology to bring in durability aspects and cost reductions for wider acceptance and use in laptops, tablets, and automotive displays, besides wearables.
Foldable Display Ecosystem
The prominent players in the foldable display market are Samsung Electronics Co., Ltd. (South Korea), BOE Technology Group Co., Ltd. (China), Visionox Company (China), Royole Corporation (China), and TCL China Star Optoelectronics Co., Ltd. (China). These companies perform organic and inorganic growth strategies to expand themselves globally by providing advanced foldable display solutions.
Foldable Display Market Segmentation
Large Format Displays and Digital Signage segment is projected at the highest CAGR in the foldable display market during the forecast period.
Foldable display technology is set to make a major impact in large format displays and digital signage by providing more dynamic and flexible installation options. Of all the major reasons for foldable technology adoption in large-format displays is the potential for delivery of immersive, very interactive experiences. Moreover, there is an increasing market demand for modern display solutions within commercial and public spaces. Large format displays and digital signage in foldable displays bring in an important development aiming to elevate adaptability and impact of visual communications in various settings. Growth drivers for foldable large format displays and digital signage include technological improvements in the materials and manufacturing processes of displays.
Micro-LED and Direct-view LED based foldable displays accounts for the highest CAGR of the foldable market during the forecast period.
Micro-LED technology is surging in the foldable display market. Micro-LEDs offer several distinct advantages over traditional OLEDs such as higher brightness levels, superior energy efficiency, longer lifespan, excellent color accuracy, and contrast ratios. The market for Micro-LED technology in foldable displays is driven by several key factors such as advancements in technology, demand for high-end consumer electronics and professional applications. The direct-view LED technology is primarily used in larger formats, such as digital signage, outdoor displays, and large-format screens. The increasing demand from several industries in the future for high-performance and large-format displays will further drive innovation and investment in this technology. Companies are heavily investing in R&D to develop flexible LED solutions that might find niche applications in the foldable display industry in the future. As market dynamics change and the dissolving of technological barriers, Micro-LED and Direct-view LED displays will change what consumers come to expect from foldable and high-performance display solutions.
Foldable Display Industry Regional Analysis
Asia Pacific is expected to account for the largest market share during the forecast period
The surging adoption of OLED foldable displays, including AMOLED and POLED, in a number of applications, along with an increasing demand for foldable displays in consumer electronics, is expected to strongly support regional market growth. Durable, reliable, and portable, with highly efficient foldable displays endorsed by advanced technologies, further propelled the market by introducing innovative foldable devices to meet modern consumer needs.
Foldable Display Market by Region
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Top Foldable Display Companies - Key Market Players
The major players in the foldable display companies are
- 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).
These companies have used both organic and inorganic growth strategies such as product launches, partnerships, collaborations, and expansions to strengthen their position in the market.
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Report Metric |
Details |
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Estimated Market Size |
USD 4.6 billion |
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Expected Market Size |
USD 13.2 billion |
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Growth Rate |
CAGR of 23.6% |
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Market size available for years |
2020–2029 |
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Base year considered |
2023 |
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Forecast period |
2024–2029 |
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Forecast units |
Value (USD Million or Billion), Volume (Million Units) |
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Segments covered |
By Technology, Panel Size, Application, Material, Resolution, Type, and Region |
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Geographies covered |
North America, Europe, Asia Pacific, and Rest of the World (RoW) |
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Companies covered |
The major players in the foldable display market are are Samsung Electronics Co., Ltd. (South Korea), BOE Technology Group Co., Ltd. (China), Visionox Company (China), Royole Corporation (China), and 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). |
Foldable Display Market Highlights
The study segments the foldable display market share based on technology, panel size, application, material, resolution, type, and region at the regional and global level.
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Segment |
Subsegment |
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By Technology |
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By Panel Size |
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By Application |
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By Material |
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By Resolution |
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By Type |
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By Region |
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Recent Developments
- In January 2023, the Samsung Electronics Co., Ltd. (South Korea) launched the Flex Hybrid model, with a foldable and slidable display for foldable smartphones in order to bring the small tablet experience that expands.
- In August 2021, the BOE Technology Group Co., Ltd. (China) partnered with Honor Device Co., Ltd. (China) to supply flexible full-screens for the newly launched Honor Magic 3 series of smartphones.
- In July 2023, Visionox Company (China) partnered with Honor Device Co., Ltd. of China to provide it with screens for foldable smartphones—Honor Magic V2 and Honor V Purse.
- In March 2020, Royole Corporation (China) launched a foldable smartphone with 5G network access, FlexPai 2.
- In May 2023, TCL China Star Optoelectronics Technology Co., Ltd. (China) unveiled a 65-inch 8K inkjet printing flexible OLED display. It realizes an excellent picture quality, flexibility, and durability, based on inkjet printing and IGZO TFT backplane technology.
Frequently Asked Questions (FAQs):
What is the current size of the global foldable display market?
The foldable display market is estimated to be worth USD 4.6 billion in 2024 and is projected to reach USD 13.2 billion by 2029, at a CAGR of 23.6% during the forecast period. The worldwide foldable display market is primarily driven by the growing need for foldable display panels in smartphone applications. Other key drivers include the rise in demand for multifunctional devices across various applications, such as laptops, tablets, large format displays, and digital signage, coupled with technological advancement.
Who are the winners in the global foldable display market size?
Companies such as are Samsung Electronics Co., Ltd. (South Korea), BOE Technology Group Co., Ltd. (China), Visionox Company (China), Royole Corporation (China), and TCL China Star Optoelectronics Co., Ltd. (China), fall under the winners category.
Which region is expected to hold the highest market share?
Asia Pacific is expected to dominate the foldable display market during forecast period. The presence of established several foldable display panels manufacturing companies such as Samsung Electronics Co., Ltd. (South Korea), BOE Technology Group Co., Ltd. (China), Visionox Company (China), Royole Corporation (China), and TCL China Star Optoelectronics Co., Ltd. (China), increasing integration of foldable displays in various applications, technological advancements, and huge consumer base are the major factors driving the market growth in Asia Pacific.
What are the major drivers and opportunities related to foldable display market size?
Rising demand for large screen in smartphones, impact of 5G rollout, increasing consumer interest in innovations and multifunctional devices, expansion of applications areas, emerging applications in foldable displays, and advancements in technology are some of the major drivers and opportunities for foldable display market.
What are the major strategies adopted by market players?
The key players have adopted product launches, partnerships, collaborations, and expansions to strengthen their position in the foldable display market.
We believe that gen AI/AI will impact the “Foldable Display Market” in the following use-cases. Can you please rate the level of impact on a scale of 1-10 (1 - least impacted, 10 - most impactful) ?
- AR and VR Capabilities
- Image Processing and Quality
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
The research study involved 4 major activities in estimating the size of the foldable display market. Exhaustive secondary research has been done to collect important information about the market and peer markets. The validation of these findings, assumptions, and sizing with the help of primary research with industry experts across the value chain has been the next step. Both top-down and bottom-up approaches have been used to estimate the market size. Post which the market breakdown and data triangulation have been adopted to estimate the market sizes of segments and sub-segments.
Secondary Research
In the secondary research process, various secondary sources have been referred to for identifying and collecting information required for this study. The secondary sources include annual reports, press releases, and investor presentations of companies, white papers, and articles from recognized authors. Secondary research has been mainly done to obtain key information about the market’s value chain, the pool of key market players, market segmentation according to industry trends, regional outlook, and developments from both market and technology perspectives.
Primary Research
In primary research, various primary sources from both supply and demand sides have been interviewed to obtain the qualitative and quantitative insights required for this report. Primary sources from the supply side include experts such as CEOs, vice presidents, marketing directors, manufacturers, technology and innovation directors, end users, and related executives from multiple key companies and organizations operating in the foldable display ecosystem.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
In the market engineering process, both top-down and bottom-up approaches have been used, along with data triangulation methods, to estimate and validate the size of the foldable display market and other dependent submarkets. The research methodology used to estimate the market sizes includes the following:
- Identifying stakeholders in the foldable display market that influence the entire market, along with participants across the value chain.
- Analyzing major manufacturers of foldable display panels and studying their product portfolios
- Analyzing trends related to the adoption of foldable displays
- Tracking the recent and upcoming developments in the market that include investments, R&D activities, product launches, partnerships, collaborations, and expansions as well as forecasting the market size based on these developments and other critical parameters
- Carrying out multiple discussions with key opinion leaders to identify the adoption trends of foldable display market
- Segmenting the overall market into various other market segments
- Validating the estimates at every level through discussions with key opinion leaders, such as chief executives (CXOs), directors, and operation managers, and finally with the domain experts at MarketsandMarkets
Market Size Estimation Methodology-Bottom-up Approach
Market Size Estimation Methodology-Top-Down Approach
Data Triangulation
After arriving at the overall market size by the market size estimation process explained in the earlier section, the overall foldable display market has been divided into several segments and subsegments. The data triangulation and market breakdown procedures have been used to complete the overall market engineering process and arrive at the exact statistics for all segments, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides. Along with data triangulation and market breakdown, the market has been validated by top-down and bottom-up approaches.
Market Definition
The foldable display market designs, manufactures, and distributes foldable display panels that can be folded or bent without losing their display capabilities. A foldable display principally comprises high-end materials like flexible AMOLED or pOLED panels with a thin substrate and protective layers. These are engineered displays that bend without losing resolution or color accuracy. They serve a wide variety of devices and applications that include smartphones, tablets, laptops, wearables, and even large-format displays. Foldable displays would be most fitting in compact devices requiring greater portability without the loss of screen size and come with some remarkable benefits such as advanced user experience, increased screen real estate in portable form, and innovative product design. The greatest advantages of foldable displays are to offer large, high-quality screens in compact form factors while increasing device usability and opening up new design possibilities that cannot be achieved with traditional rigid screens.
Stakeholders
- OEMs
- Electronics Retailers
- Foldable Display Panel Manufacturers
- Foldable Device Manufacturers
- Material and Component Suppliers
- Technology Solution Providers
- Software Developers
- Marketing and Advertising Firms
- Distributors and Resellers
- Service Providers
- Regulatory Bodies
- Research and Development Institutes
- End Users
The main objectives of this study are as follows:
- To define, describe, and forecast the size of the foldable display market, by technology, panel size, application, and region, in terms of value
- To forecast the size of the foldable display market, by technology, in terms of volume, at the regional level
- To forecast the size of various segments with respect to four regions, namely North America, Europe, Asia Pacific, and the Rest of the World
- To identify and analyze key drivers, restraints, opportunities, and challenges influencing the growth of the foldable display market
- To study the value chain and related industry segments of the foldable display market
- To strategically analyze the micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall market
- To analyze trends and disruptions impacting customers’ businesses’ pricing trends, patents and innovations, trade data, regulatory landscape, Porter’s five forces, case studies, key stakeholders and buying criteria, technology trends, market ecosystem, and key conferences and events related to the foldable display market
- To analyze opportunities for various stakeholders by identifying the high-growth segments of the market
- To strategically profile the key players and comprehensively analyze their market position in terms of revenue, market share, and core competencies2, along with detailing the competitive landscape for the market leaders
- To analyze competitive developments such as product launches, partnerships, collaborations, expansions, and research and development (R&D) activities carried out by players in the foldable display market
Available Customizations:
With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:
- Country-wise Information:
- Analysis for additional countries (up to five)
Company Information:
- Detailed analysis and profiling of additional market players (up to five)
Growth opportunities and latent adjacency in Foldable Display Market