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Foldable Display Market Size
- Report ID: GMI3084
- Published Date: Aug 2024
- Report Format: PDF
Foldable Display Market Size
Foldable Display Market size was valued at USD 5.76 billion in 2023 and it is anticipated to register a CAGR of over 24% between 2024 and 2032, driven by rapid technological advancements. Innovations in materials and manufacturing processes have led to the development of more durable and flexible display technologies. Companies are investing heavily in research and development to improve foldable screens' quality and performance. Enhanced foldable displays now feature better resolution, brightness, and touch sensitivity, which attract both consumers and businesses looking for cutting-edge technology.
For instance, in In January 2023, Samsung Electronics showcased its innovative Flex Hybrid display at CES 2023, which combines foldable and slidable technologies into a single device. This prototype is designed to enhance the user experience by providing a larger screen area while maintaining portability.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Foldable Display Market Size in 2023: | USD 5.76 Billion |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 24% |
| 2032 Value Projection: | USD 40 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 270 |
| Tables, Charts & Figures: | 367 |
| Segments covered: | Type, Technology, Display Size, Application, End-use Industry, Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The surge in mobile and wearable technology is driving the foldable display market forward. Foldable displays are increasingly being integrated into smartphones, tablets, and wearables to provide enhanced functionality and user experience. As mobile devices evolve, there is a growing need for displays that can accommodate new form factors and interactive features. Wearables, such as smartwatches and fitness trackers, are also incorporating foldable technology to offer more comprehensive displays within a compact design. For instance, in August 2024, Google launched its Pixel 9 Pro Fold, the company's first-ever foldable phone in India.
Durability remains a significant concern for foldable displays. The folding mechanism introduces complexity into the design, which can lead to issues with longevity and reliability. Consumers and manufacturers alike worry about the wear and tear of foldable screens over time, including potential issues like screen creases, hinge failures, and reduced overall lifespan. To address these issues, manufacturers are investing in research and development to improve the robustness of foldable displays, but the technology still faces challenges in achieving the same durability standards as traditional screens.
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Foldable Display Market Scope
