The Foldable Smartphone Market is expected to register a CAGR of over 21.3% during the forecast period (2020 - 2025). Foldable phones are set at the forefront of smartphone technology to be commercialized by the end of the year 2019. Combining the attributes of a large-screen tab with the portability of smartphones is expected to attract the customer base. New entrants, such as Samsung and Huawei will set the trend of this new technology.
- Owing to the rising demand for consumer electronics, as well as high adoption in the entertainment and gaming sector, the market for foldable smartphones is expected to witness a significant growth rate over the forecast period.
- The surging demand for phablet has played a significant role in the demand for foldable displays across the emerging economies especially across the APAC region.
- The high levels of manufacturing complexities along with the high price tag are affecting large-scale market adoption of foldable smartphones.
Scope of the Report
There is intense competition between prominent smartphone vendors to lead the race of foldable smartphone devices across emerging economies. Some of the emerging firms are working rigorously in defeating the shortcomings of their device prototypes, which will help them in using technology and launching these potentially groundbreaking products in the near future, due to which the foldable smartphone market is expected to witness lucrative growth. The market is fueled by the technical capabilities of companies to incorporate them into their products with different designs, thereby confirming their practicality and usefulness. The dual-screen foldable smartphone is also considered under the scope of the study that is compatible with the OS according to their configuration.
Key Market Trends
Front-to-Front Fold Type is Gaining Traction During the Forecast Period
- The foldable smartphone market is characterized by its constantly changing dynamics, due to the advancement in technologies and product upgradation thereby supporting the market over the last few years and is expected to continue doing so in the near future. Some of the prominent players are patenting their design architecture of folding smartphones to be launched soon. for instance, Apple, Inc. has patented its folding phone with a hinge heating technology to protect it from damage incurred in use over time.
- The increased awareness among consumers regarding the latest trend in smartphone technologies across developed economies is fueling the demand for such product where the evolving business strategies of manufacturers providing innovative offerings of foldable design is boosting the market growth.
- The smartphone makers are experimenting with different form factors for their foldable smartphones. For instance, it can be seen in Motorola Razr (2019), Samsung Galaxy Fold, as each of these phones looks different from others but prefer front-to-front fold (inward fold) display technology.
Asia-Pacific to Register Significant Growth During the Forecast Period
- The foldable smartphone market is highly influenced by the advancements in technology by the established firms influencing the APAC market. The global market consists of a few key firms mainly from the Asia Pacific region and increases competition as producers compete to gain early benefits of merchandise commercialization over the competitors.
- The APAC market is undergoing uniform growth due to eminent technological resources & segment costs along with huge initial investments required for product enhancement. However, the leading firms are anticipated to launch their products over the forecast years and revolutionize the smartphone industry across the emerging economies.
- Further, there is an increasing focus on R&D activities along with the ongoing technological development trends among several component suppliers and product developers including some of the prominent firms among Samsung Electronics, LG Display, Royole Corporation, BOE, Semiconductor Energy Laboratory, and Tianma. Prominent companies over the APAC region. These are working on developing integrated display technology and are competing to introduce this technology thereby supporting the growth of the market during the forecast period.
The foldable smartphone market is moderately competitive and consists of a few major players. In terms of market share, some of the players currently dominate the market. However, with the advancement in the display technology, new players are increasing their market presence thereby expanding their business footprint across the emerging economies.
- November 2019 - HUAWEI’s SmartCareBOE (Business Operations Enablement) was introduced at the TM Forum Digital Transformation Asia (TM Forum DTA) conference in Kuala Lumpur, November 12 – 14 for global carrier representatives, industry consulting companies and ecosystem partners. The HUAWEI SmartCareBOE solution is designed to enable carriers to achieve experience-driven and data-driven digital service operations to accelerate digital business development and new business growth.
- May 2019 - Royole Corporation had collaboration with Louis Vuitton, to worked together on the world’s first fashion handbags to feature fully flexible displays and sensors. Louis Vuitton’s appropriately named "Canvas of the Future" range includes three iconic leather bags featuring Royole’s patented flexible displays and flexible sensors, so users can show custom images and videos as well as controlling the displays using the flexible touchscreen interface.
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