April 29, 2020
According to the research report titled ‘Foldable Display Market Size By Application, Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report LLC, global foldable display market is expected to be worth USD 18 billion by the year 2025.
Advancements in OLED technology is a major factor driving the foldable display market growth. OLEDs have allowed development of thinner devices with faster response rate, wider viewing angle and better picture quality. Flexible OLED displays utilize metal or plastic foils as substate ensuring lightweight and durability, making them ideal for smart wearables, phones and tablets.
Leading smartphone companies are focusing on R&D activities to introduce innovative foldable devices. For instance, Samsung and Xiaomi launched their foldable smartphones/tablets at the CES 2019. However, high cost associated with foldable devices may act as a restraining factor to the overall foldable display market growth.
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Considering the geographical landscape, North America foldable display industry is slated to witness lucrative growth in the ensuing years. Booming smartphone industry in the U.S. and rising adoption of next-gen gadgets are augmenting the regional demand.
Foldable display market in Europe is presumed to expand substantially by the year 2025. Rising market penetration by Chinese smartphone suppliers and growing popularity of high-end smartphones like Apple iPhone are favoring the industry outlook in Europe.
The prominent companies operating in worldwide foldable display market are BOE, Apple, LG, Royole Corp. and Samsung among others.