Chicago, Aug. 26, 2024 (GLOBE NEWSWIRE) -- The foldable display market is estimated to be worth USD 4.6 billion in 2024 and is projected to reach USD 13.2 billion by 2029, at a CAGR of 23.6% during the forecast period.
The surging adoption of OLED foldable displays, including AMOLED and POLED, in a number of applications, along with an increasing demand for foldable displays in consumer electronics, is expected to strongly support regional market growth. Durable, reliable, and portable, with highly efficient foldable displays endorsed by advanced technologies, further propelled the market by introducing innovative foldable devices to meet modern consumer needs.
To know about the assumptions considered for the study
Major Foldable Display Companies Included:
- Samsung Electronics Co., Ltd. (South Korea),
- BOE Technology Group Co., Ltd. (China),
- Visionox Company (China),
- Royole Corporation (China), and
- TCL China Star Optoelectronics Co., Ltd. (China).
Impact of AI/Gen AI on Foldable Display Market
Artificial intelligence (AI) is expected to significantly transform the foldable display ecosystem. The integration of AI with displays and related software offers a wide range of capabilities ranging from the enhancement of videos and images in real-time to facilitating personalized content being displayed in commercial and retail settings. Furthermore, the integration of AI also facilitates the enhancement of smart display features, integration of displays with other smart home devices such as intelligent voice assistants, and development of advanced features tailor-made for augmented and virtual reality (AR and VR) solutions and wearable devices. Furthermore, in the industrial setting, the integration of AI enables predictive maintenance of display hardware, thereby significantly reducing downtime and maintenance costs.
Foldable Display Market Segmentation Analysis:
Large Format Displays and Digital Signage segment is projected at the highest CAGR in the foldable display market
Foldable display technology is set to make a major impact in large format displays and digital signage by providing more dynamic and flexible installation options. Of all the major reasons for foldable technology adoption in large-format displays is the potential for delivery of immersive, very interactive experiences. Moreover, there is an increasing market demand for modern display solutions within commercial and public spaces. Large format displays and digital signage in foldable displays bring in an important development aiming to elevate adaptability and impact of visual communications in various settings. Growth drivers for foldable large format displays and digital signage include technological improvements in the materials and manufacturing processes of displays.
Micro-LED and Direct-view LED based foldable displays accounts for the highest CAGR of the foldable market during the forecast period.
Micro-LED technology is surging in the foldable display market. Micro-LEDs offer several distinct advantages over traditional OLEDs such as higher brightness levels, superior energy efficiency, longer lifespan, excellent color accuracy, and contrast ratios. The market for Micro-LED technology in foldable displays is driven by several key factors such as advancements in technology, demand for high-end consumer electronics and professional applications. The direct-view LED technology is primarily used in larger formats, such as digital signage, outdoor displays, and large-format screens. The increasing demand from several industries in the future for high-performance and large-format displays will further drive innovation and investment in this technology. Companies are heavily investing in R&D to develop flexible LED solutions that might find niche applications in the foldable display market in the future. As market dynamics change and the dissolving of technological barriers, Micro-LED and Direct-view LED displays will change what consumers come to expect from foldable and high-performance display solutions.
Asia Pacific is expected to account for the largest market share during the forecast period
The surging adoption of OLED foldable displays, including AMOLED and POLED, in a number of applications, along with an increasing demand for foldable displays in consumer electronics, is expected to strongly support regional market growth. Durable, reliable, and portable, with highly efficient foldable displays endorsed by advanced technologies, further propelled the market by introducing innovative foldable devices to meet modern consumer needs.
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Foldable Display Market Highlights:
By Technology
- Direct-view LED
- OLED
- Micro-LED
By Panel Size
- Up to 8 inches
- 8-20 inches
- Above 20 inches
By Application
- Smartphones
- Laptops and tablets
- Large Format Displays and Digital Signage
By Type
- Curved Display
- Bendable Display
- Rollable Display
