As per the research by Market Research Future Reports (MRFR), the global foldable display market is estimated to thrive at a CAGR of 62%, valuing USD 1,549.4 million during the review period. The increasing demand for smartphones is the most significant factor driving the global foldable display market 2020. The flexible display is an upcoming technology and is estimated to transform the electronics industry in the forthcoming period. The incorporation of flexible displays in smartwatches is projected to be an important factor in driving the market growth. The continuous development in technologies is a crucial factor leading to market expansion. There has been a rise in awareness among the users regarding the latest technology, which is fueling the demand for such devices. Besides, the innovative strategies adopted by the organizations results in an additional expansion of the market. On the flip side, the expensive costs associated with foldable technology is estimated to create hindrance in market expansion. In addition, the outbreak of COVID-19 has led to significant challenges. We will provide COVID-19 impact analysis with the report.
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The regional study of North America, Europe, Asia-Pacific, and the Rest of the World (RoW) has been conducted. As per the research by MRFR, the Asia Pacific region is projected to acquire the largest market share. The region is propelling due to the manufacturing of displays, a thriving consumer electronics market, and the unit shipments. The region consists of established players such as Samsung Electronics and LG Displays. Besides, there has been a sudden increase in smartphone ownership, and the demand for smartphones has increased exponentially. It has a direct impact on the foldable display market in the region. Among all, Taiwan, South Korea, and China are the nations dominating the region with their high manufacturing and exports of display units. The second position has been obtained by North America. The region is witnessing a rise in applications of the foldable display. Among all, the US and Canada make the most significant contribution from the region. Several startups have been established, which make massive investments and manufacture in bulk, which strengthens the regional market.
on the other hand, the Middle East African market is expanding at a fast pace. The increasing internet penetration and smartphone ownership in Israel and Jordan have participated significantly in market expansion. However, the region faces the scarcity of display manufacturers, which affects the revenue of the region. However, the outbreak of pandemic coronavirus has affected several regional markets. The constant lockdown observed in several regions has changed the market dynamics.
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The global foldable display market can be segregated on the basis of application, type, and region.
Based on application, the worldwide foldable display market can be classified into
Based on type, the worldwide foldable display market can be classified into OLED, LED, and AMOLED.
Based on the region, the worldwide foldable display market can be classified into North America, Europe, Asia-Pacific, and the Rest of the World.
The forefront players of the global foldable display market are LG Display Co., Ltd (South Korea), Samsung Electronics Co., Ltd (South Korea), BOE Technology Group Co. (China), Royole Corporation (China), Applied Materials, Inc. (US), Visionox Technology Inc. (US), Semiconductor Energy Laboratory Co., Ltd (Japan), C3Nano, Inc. (the US), Tianma Microelectronics Co., Ltd (China), Altenergy Power System, Inc. (the US). Apart from these players, Apple Inc. (US), M Company (US), AGC Inc. (Japan), Ares Materials, Inc. (US), DuPont (US), Huawei Technologies Co. Ltd (China), FUJIFILM Holdings Corporation (Japan), and a few more are the players that contribute 35-40% in the foldable display market.
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