Verified Market Research recently said, “Foldable Display Market” By Type (OLED, AMOLED), By Application (Smartphone Display, Tablets and Notebook), and By Geography. According to Verified Market Research, the Global Foldable Display Market size was valued at USD 255.5 Million in 2020 and is projected to reach USD 7773.04 Million by 2028, growing at a CAGR of 53.3% from 2021 to 2028.
Global Foldable display market overview
The rise in demand for new and advanced smartphone displays, as well as the rising proliferation of smartphones, particularly in developing economies, and the increasing use of foldable displays for a variety of applications such as smartphone displays, tablets and notebooks, television, and wearable displays, are all contributing to the market’s growth. The main Foldable Display Market growth driving factors would be increased focus on technological advancements by leading manufacturers and rising investment for research and development activities. Smartphone manufacturers’ increasing demand for foldable displays, as well as quick advancements in OLED (organic light-emitting diodes) and AMOLED technology, will accelerate the market value of foldable displays.
Other factors driving the growth of the Foldable Display Market include rising personal disposable income and increased demand for flexible displays from the automotive industry. The rise in demand for connected and autonomous vehicles, combined with the growing adoption of digital signage systems, will help accelerate the foldable display industry forward. Another key element fueling the growth of the Foldable Display Market is the rapid evolution of display technologies in smartphones. Furthermore, numerous manufacturers are working on expanding their presence and innovating their product offerings in the TV and computer (Laptops and Desktop displays) segments. Owing to its streamlined form, improved image quality, and limited flexibility, OLED displays have been increasingly popular in recent years. Backlighting is not required with OLED screens, and they can be thinned and shaped into specific forms. For large-screen devices such as televisions and computer monitors, OLED display types are still expensive to create, but this market still earns the benefits of economies of scale.
- On February 2021, BOE demonstrates the new innovative display technology with a prototype phone that folds inwards like a clamshell, apparently for storage. When unfurled, it may also be used as a tablet, comparable to the Samsung Galaxy Z Fold and Huawei Mate X series. l.
- On Sep 2020, Samsung introduced the Galaxy Z Fold 2 at the Galaxy Unpacked 2020 Part 2 virtual event. The foldable phone is the company’s third in the series, which began with the Galaxy Fold last year. The Galaxy Z Fold 2 has a number of improvements over the Galaxy Fold and Galaxy Z Flip, both of which were released earlier this year.