Foldable Display Market Size, Share, Industry and Industry Trends
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
OVERVIEW
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
The foldable display market is projected to reach USD 13.29 billion by 2029 from USD 4.61 billion in 2024, at a CAGR of 23.6% from 2024 to 2029. The increasing use of foldable displays to enhance device versatility, the rising demand for large screens in smartphones, and the growing consumer interest in innovative and multifunctional devices are the major factors driving the growth of the foldable display market.
KEY TAKEAWAYS
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By RegionThe Asia Pacific foldable display market dominated, with a share of 72.4% in 2023.
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By TechnologyBy technology, the OLED segment dominated the market, with a share of ~99.97% in 2023
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By Panel SizeBy panel size, the above 20 inches segment is projected to grow at the fastest rate from 2024 to 2029.
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By ApplicationBy application, the digital signage and other large display devices segment is expected to register the highest CAGR of 80.4%.
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Competitive Landscapesamsung electronics co., ltd., and BOE Technology Group Co., Ltd. were identified as some of the star players in the foldable display market (global), given their strong market share and product footprint.
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Competitive LandscapePolyera Corporation, and FlexEnable, among others, have distinguished themselves among startups and SMEs due to their strong product portfolio and business strategy.
The foldable display market is witnessing steady growth, driven by the growing use of foldable displays to enhance device versatility, the increasing demand for large screens in smartphones, and the rapidly evolving consumer interest in innovative and multifunctional devices.
TRENDS & DISRUPTIONS IMPACTING CUSTOMERS' CUSTOMERS
Companies in the foldable display market derive a majority of their revenue through demand from smartphones, laptops, tablets, large-format displays, digital signage, and wearables. With time, the technology related to foldable displays is getting better in terms of resolution, durability, and reliability. The foldable displays are getting more flexible and assuring better performance quality overall. New display solutions have emerged in recent years due to rapid technological advancements, including Micro-LED, OLED, and Direct-view LED, with increased system capabilities supported by 5G connectivity for richer user experiences. Moreover, these new display technologies are promising better color precision, more brightness, and energy efficiency. This, in turn, paves the path for new use cases of foldable devices, especially in laptops and wearables, opening up more growth opportunities for foldable display companies in the next five years.
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
MARKET DYNAMICS
Level
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Consumer preference for smartphones with larger screens
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High adoption of innovative and multifunctional devices by consumers
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High production costs and poor yields
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Longevity and reliability issues
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Growing demand for gaming, healthcare, and education applications
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Enhancing quality through advanced technologies
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Complexities associated with display designing and fabrication
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Limited use of foldable displays
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
Driver: Consumer preference for smartphones with larger screens
The preference of consumers for larger screens in smartphones is considered the key factor driving the foldable display market. It is reflected in the tendency for more and more devices with large screens to be demanded while offering no compromise on portability. Foldable displays solve this problem, as they allow manufacturers to introduce devices that can change from regular-sized phones to tablet-like devices, thereby offering a larger and more immersive viewing experience.
Restraint: High production costs and poor yields
The complexity of technology, low production yield, and R&D costs are the major factors contributing to such a high cost structure. The technology used for the production of foldable display screens includes flexible materials, as well as OLED and micro-LED displays. The production technology for a foldable display screen includes a strong hinge mechanism. The production process of a foldable display may have a low yield as compared to a traditional display due to the increased production costs. For example, production costs for flexible OLED technology may be relatively high. Higher defect rates during production can lead to increased waste. For instance, producing flexible OLED screens may have a higher rejection rate.
Opportunity: Growing demand for gaming, healthcare, and education applications
The foldable display market is set to expand as demand rises across a range of emerging sectors, including healthcare, education, gaming, and automotive. In healthcare, foldable displays can be used in medical devices and telemedicine, improving portability and ease of use in diagnostic equipment and patient monitoring systems. In educational settings, their use in tablets and e-readers supports more improved learning experiences. The gaming segment also stands to benefit, as foldable displays enable large, immersive screens that can be folded down into compact devices for convenient travel. In the automotive sector, these displays are increasingly being incorporated into dashboards and in-vehicle entertainment systems, supporting more interactive and visually refined vehicle interiors.
Challenge: Limited use of foldable displays
The wider adoption of foldable displays is negatively impacted by consumer skepticism regarding the durability of foldable displays. This limitation is mainly driven by technical challenges and the high cost of foldable displays, which restrict their use in affordable product categories. The use of foldable displays is limited, primarily to high-end smartphones and a few niche applications.
FOLDABLE DISPLAY MARKET SIZE, SHARE, INDUSTRY AND INDUSTRY TRENDS: COMMERCIAL USE CASES ACROSS INDUSTRIES
| COMPANY | USE CASE DESCRIPTION | BENEFITS |
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Deployed foldable OLED displays in the Galaxy Fold 5G to differentiate smartphones and stimulate upgrade demand, supported by a targeted digital campaign highlighting the device’s unique folding mechanism and large-screen experience. | 20% weight reduction compared to traditional aluminum, improved fuel efficiency, and reduced maintenance cost. |
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Publicized Foldable OLED panels for laptops and 360° foldable displays, including screens capable of folding in both directions, with tested durability of over 200,000 folds. | Demonstrated technical maturity and reliability of foldable panels in new categories like portable computing and flexible form-factor IT devices. |
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Deployed an industry-first 135″ foldable all-in-one LED display solution kit with a collapsible screen and integrated components, enabling rapid setup and flexible transport for business use cases such as exhibitions, conferences, and rental deployments. | Significantly enhances mobility and ease of installation by reducing packaging size by nearly half, fits into standard freight elevators, and cuts shipping and logistics costs. |
Logos and trademarks shown above are the property of their respective owners. Their use here is for informational and illustrative purposes only.
MARKET ECOSYSTEM
The foldable display market ecosystem consists of raw material suppliers (Corning, Merck), display manufacturers (Samsung, BOE), and end users (Samsung, Huawei). Raw materials like substrates and display materials are used to develop foldable displays for use in smartphones, laptops, etc. The demand is expected to driven by end users such as smartphone manufacturers that are developing advanced smartphones integrated with foldable displays.
Logos and trademarks shown above are the property of their respective owners. Their use here is for informational and illustrative purposes only.
MARKET SEGMENTS
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
Foladable Display Market, By Technology
By technology, OLED is expected to be the larger segment during the forecast period. Driving the growth of OLED-based foldable displays are substantial investments in research and development to advance display materials, manufacturing processes, and device designs. Increasing consumer demand for innovative mobile technologies that offer both portability and expansive screens is a major factor driving the growth of OLED-based foldable displays.
Foldable Display Market, By Panel Size
By panel size, the up to 20 inches segment is expected to hold a larger market share during the forecast period. Advantages such as larger screens in compact form, enhancing media consumption, gaming, and multitasking experiences are the major factors driving the demand for up to 20-inch panel-sized foldable displays globally.
Foldable Display Market, By Application
By application, smartphone segment is expected to dominate the foldable display market. Several factors drive the growth of the foldable smartphone market, such as technological advancements in display materials and hinge mechanisms, have significantly improved the durability and reliability of foldable screens, making them more appealing to consumers. The competitive landscape of the smartphone market pushes manufacturers to innovate continuously, leading to the development of more sophisticated foldable devices.
REGION
Asia Pacific to be fastest-growing region in global foldable display market during forecast period
Asia Pacific is expected to register the highest CAGR in the foldable display market. The significant presence of established foldable display manufacturers, increased adoption of foldable displays in various applications, and rapid technological advancements are the major factors driving the growth in Asia Pacific.
FOLDABLE DISPLAY MARKET SIZE, SHARE, INDUSTRY AND INDUSTRY TRENDS: COMPANY EVALUATION MATRIX
In the foldable display market matrix, samsung electronics (Star) leads with a strong market share and extensive product footprint, driven by its advanced product portfolio of foldable display panels and smartphones. Visionox (Emerging Leader) is gaining visibility with its foldable displays, strengthening its position through innovation While samsung electronics dominates through scale and a diverse portfolio, Visionox shows significant potential to move toward the leaders’ quadrant as demand for foldable displays continues to rise.
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
KEY MARKET PLAYERS
- Samsung Electronics Co., Ltd. (South Korea)
- BOE Technology Group Co., Ltd. (China)
- Visionox Company (China)
- TCL China Star Optoelectronics Technology Co., Ltd. (China)
- Tianma (China)
- Royole Corporation (China)
- AUO Corporation (Taiwan)
- Huawei Technologies Co., Ltd. (China)
- Motorola Mobility LLC (US)
- Honor Device Co., Ltd. (China)
MARKET SCOPE
| REPORT METRIC | DETAILS |
|---|---|
| Market Size in 2023 (Value) | USD 3.32 Billion |
| Market Forecast in 2029 (Value) | USD 13.29 Billion |
| Growth Rate | CAGR of 23.6% from 2024-2029 |
| Years Considered | 2020-2029 |
| Base Year | 2023 |
| Forecast Period | 2024-2029 |
| Units Considered | Value (USD Million/Billion), Volume (Million Units) |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered |
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| Regions Covered | Asia Pacific, North America, Europe, and Rest of the World |
DELIVERED CUSTOMIZATIONS
We have successfully delivered the following deep-dive customizations:
| CLIENT REQUEST | CUSTOMIZATION DELIVERED | VALUE ADDS |
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| Leading Consumer Electronics OEM |
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| Display Panel Manufacturer |
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| Large-format Display Integrator |
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RECENT DEVELOPMENTS
- May 2024 : AUO Corporation introduced its new 17.6-inch foldable display panel with a bending radius of 4mm. It features a wide color gamut coverage and ultra-high brightness.
- July 2023 : Visionox Company partnered with Honor Device Co., Ltd. to supply screens for its new foldable smartphones, Honor Magic V2 and Honor V Purse.
- May 2023 : AUO Corporation launched the AUO 14.6-inch foldable micro-LED display. It has an ultra-thin glass panel featuring high contrast display advantages, high resolution, and high brightness. It has a folding radius of 4 mm with a pixel density of 202 PPI
Table of Contents
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Methodology
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 and 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)
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
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