Foldable Phone Market: Global Industry Analysis, Trends, Market Size, and Forecasts up to 2030

The report on the global foldable phone market provides qualitative and quantitative analysis for the period from 2023-2030. The global foldable phone market was valued at USD 10.34 billion in 2022 and is expected to reach USD 61.98 billion in 2030, with a CAGR of 24.77% during the forecast period 2023-2030. The study on foldable phone market covers the analysis of the leading geographies such as North America, Europe, Asia Pacific, and RoW for the period of 2023-2030.

The foldable smartphone market encompasses smartphones featuring flexible displays capable of folding and unfolding. These devices allow users to seamlessly transition between a compact smartphone size and a larger tablet-like form, enhancing adaptability and versatility in mobile usage. Foldable phone screens, also known as foldable displays, are typically made up of flexible materials such as plastic or a specialized type of glass. The specific material used can vary among manufacturers, but common options include Ultra-thin Glass (UTG) or plastic-based materials like polyimide. These materials allow the display to bend without breaking, enabling the foldable design seen in modern foldable smartphones. The goal is to strike a balance between durability and flexibility to create a reliable and functional folding display.

In the current market scenario, the demand for foldable phones is experiencing continuous growth, driven by various factors such as the increased desire for flexible displays and the compelling features offered by these innovative devices. The rising demand for bendable screens and the incorporation of advanced features in foldable phones are expected to fuel further expansion of the market. Consumers are increasingly inclined towards phones with the ability to bend, coupled with appealing features, contributing to the heightened popularity of foldable phones. This trend is projected to propel the foldable phone market to greater heights. Furthermore, the market is anticipated to witness significant growth due to the expanding display sizes and enhanced multitasking capabilities offered by foldable phones. The surge in market growth is evident in the remarkable increase in global foldable smartphone shipments by 158% in 2021, highlighting the growing preference for larger, versatile displays and enhanced functionality within the mobile device market. An example of this trend is exemplified by devices like the Samsung Galaxy Z Fold3, offering users a tablet-like experience with its expansive 7.6-inch screen.

The Asia-Pacific region stands out as the fastest-growing sector in the global foldable phone market, driven by several factors. Notably, the escalating demand for cutting-edge technology and the increasing affluence of consumers in countries such as China, South Korea, and India are pivotal drivers of this rapid growth. Key industry players like Samsung and Huawei, renowned for their advanced foldable phone offerings, have played a significant role in amplifying customer interest in the region. Additionally, the favorable economic conditions and a youthful population further contribute to the prominence of the Asia-Pacific region in the foldable phone market. Currently, there is a notable upswing in smartphone adoption in Asia-Pacific, with foldable phones gaining substantial traction. A case in point is the global popularity of Samsung's Galaxy Z Fold series. The region's swiftly expanding smartphone market, coupled with a cultural inclination toward embracing new technological trends, positions Asia-Pacific as a pivotal player in the thriving foldable phone market. This contribution is significant not only to the regional industry but also to the overall growth and innovation within the global foldable phone market.

Report Findings

1) Drivers

• The market for foldable phones is driven by the advancement of the foldable and flippable screen.
• A larger screen makes multitasking easier for consumers, and the market is driven by tab experience as well.

2) Restraints

• The foldable smartphones more expensive than conventional smartphones may hampers the market growth.

3) Opportunities

• Innovation and technological progress may create lucrative opportunity for foldable phone market.

Research Methodology

A) Primary Research

The primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents, the primary respondents are approached include
1. Key Opinion Leaders associated
2. Internal and External subject matter experts
3. Professionals and participants from the industry

The primary research respondents typically include

1. Executives working with leading companies in the market under review
2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/ country managers
5. Vice President level executives.

B) Secondary Research

Secondary research involves extensive exploring through the secondary sources of information available in both the public domain and paid sources. Each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources.

The secondary sources of the data typically include

1. Company reports and publications
2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies

Segment Covered

The global foldable phone market is segmented on the basis of display size, display panel type, and sales channel.

The Global Foldable Phone Market by Display Size

• Under 6 inch
• 6-7 inch
• 7-8 inch
• 8 inch & above

The Global Foldable Phone Market by Display Panel Type

• Fold
• Flip

The Global Foldable Phone Market by Sales Channel

• Online
• Offline

Company Profiles

The companies covered in the report include

• Samsung Group
• Huawei Technologies Co. Ltd
• Microsoft Corporation
• Xiaomi Corporation
• Royole Corporation
• Motorola (Lenovo Limited)
• LG Corporation
• OPPO
• AsusTek Computer Inc.
• Energizer

What does this Report Deliver?

1. Comprehensive analysis of the global as well as regional markets of the foldable phone market.
2. Complete coverage of all the segments in the foldable phone market to analyze the trends, developments in the global market and forecast of market size up to 2030.
3. Comprehensive analysis of the companies operating in the global foldable phone market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.