Foldable Display Market to Touch USD 38.4 Billion at 62.00% CAGR by 2032
Research Reports
Nov 09, 2023
Foldable Display Market Analysis
The global foldable display market will touch USD 38.4 billion at a 62.00% CAGR by 2032, as per the recent Market Research Future report.
Drivers
Growing Use of OLED Displays in Auto Industry to Boost Market Growth
The growing use of OLED displays in the auto industry will bolster market growth in the forecast period. Increasing application in cars like dashboard displays (media, instrument clusters, & navigation) and head up displays are propelling the foldable display’s revenue.
Opportunities
Burgeoning Need for Consumer Electronics to offer Robust Opportunities
The burgeoning need for consumer electronics will offer lucrative opportunities for the foldable display market over the forecast period. The growing smart home trend and need for connected technologies have increased the adoption of connected and innovative solutions in the consumer electronics domain thus boosting market growth. The effective data storage is indeed becoming vital these days with maximum viewers consuming data from the OTT platforms like Netflix, Amazon, and others. Thus the need for television is increasing the market growth for foldable displays.
Restraints and Challenges
High Cost to act as Market Restraint
The high cost of foldable display, the COVID-19 impact, and incompatibility of software & hardware may act as market restraints over the forecast period.
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Key Players
Eminent industry players profiled in the global foldable display market report include Samsung Electronics Co., Ltd (South Korea), LG Display Co., Ltd (South Korea), BOE Technology Group Co. (China), Applied Materials, Inc. (US), Royole Corporation (China), Semiconductor Energy Laboratory Co., Ltd (Japan), Tianma Microelectronics Co., Ltd (China), C3Nano, Inc. (US), Altenergy Power System, Inc. (US), and Visionox Technology Inc. (US), 3M Company (US), Apple Inc. (US), Ares Materials, Inc. (US), AGC Inc. (Japan), DuPont (US), FUJIFILM Holdings Corporation (Japan), Huawei Technologies Co. Ltd (China), Kaneka Corporation (Japan), Kateeva, Inc. (US), Konica Minolta, Inc. (Japan), LG Chem Ltd (South Korea), Light Polymers Inc. (US), Microsoft Corporation (US), Zeon Corp (Japan), Nissha Co Ltd (Japan), Nitto Denko Corporation (Japan), Schott NYC (US), SKC Kolon PI Inc. (South Korea), Solip Tech Co., Ltd (South Korea), Sumitomo Chemical Co., Ltd (Japan), and Tosoh Corporation (Japan).
Market Segmentation
The global foldable display market is bifurcated based on application and display type.
By display type, OLED will lead the market over the forecast period.
By application, smartphones and tablets will domineer the market over the forecast period.
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Regional Analysis
North America to Head Foldable Display Market
North America will head the market over the forecast period with a 45.80% market share. The substantial use of the flexible displays by the aerospace industry is adding to the market growth in the region. The US grabbed the utmost market share while that in Canada had been the fastest growing. Besides, early adoption of technically-advanced and digitized products in the United States, increasing spending capacity of American citizens, high disposable income, and initiatives of technology development by US based companies like Microsoft and Apple are fuelling market growth.
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