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The global foldable screens market size is experiencing a significant growth and is expected to grow considerably in the next few years. A foldable screen is an electronic screen with highly flexible conventional flat-surface screens. Foldable screens are featured on a flexible screen technology that can be twisted and folded like a paper. A flexible screen is an emerging technology, and a foldable screen is expected to modernize the semiconductor and electronics industry shortly. This is due to high demand for foldable screen from smartphone manufacturers and rapid innovations in OLED and AMOLED technologies. There are various foldable screens in the market developed by companies such as Samsung Electronics, LG, Visionox, and Huawei with different specifications on pixel density, thickness, and material used.
The global foldable screens market is segmented into type, application, industry vertical, and region. Based on type, the market is further segmented into LED, OLED, LCD, EPD, and others. In terms of application, the market is sub-divided into smart wearables, smartphones, tablets, televisions, and digital signage systems, and others. Based on industry vertical, the market is bifurcated further into Retail, Healthcare, Travel & Tourism, BFSI, and Others. Geographically, the global market is divided across North America (US, Canada, and Mexico), Europe (Germany, UK, France, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia and the Rest of Asia Pacific), and LAMEA (Latin America, Middle East and Africa).Â
Key players of the foldable screens market analyzed in the research include Samsung Electronics, Royole Corporation, Corning Incorporated, Japan Display Inc, LG Display Co., Ltd., BOE Technology Group Co., Ltd., Sharp Corp., E Ink Holdings, Inc., Cambrios Technologies Corp. They have adopted various strategies including new product launches, collaborations, partnerships, mergers & acquisitions, joint ventures, agreements, and others to gain a stronghold and international presence across the world.
Rise in demand for consumer electronics, such as smartphones, television and computer, wearable devices, and high adoption in gaming and entertainment propels the foldable screen market growth. The foldable display market is heavily influenced by advancements in technology and product upgradation. Foldable screen offers various advantages over conventional screens including ultra-thin structure, lightweight, low energy consumption, shatter-proof, unbreakable, bendable, and portable. However, high cost associated with foldable screens hinders the industry growth.
High competition in the foldable screen market has moved toward new product developments and launches with effective specifications and attractive looks. Companies such as LG Display Co. Ltd. and Samsung Electronics Co. Ltd have led the display market toward a new age with the launch of products based on technologies such as Q-dot LED and OLED. OLEDs offer a better watching angle and brilliant contrast rate, which is brighter than LCDs. In addition, OLEDs show refresh rates, which enables a high-definition video. Attractive looks and high specifications of display products such as desktop monitors, TVs, mobile phones, and notebooks grab attention of consumers. The foldable screens market has observed great technological developments in recent times. Screen devices have changed to slim and bezel-less from being space-consuming and bulky. Foldable screen offer low power consumption, high resolution and improved contrast ratio compared with conventional screen devices based on Cathode Ray Tube (CRT) technology.
Rising demand for foldable screens from healthcare and automotive among other industries is expected to create growth opportunities for the market. Automotive manufacturers focus on integrating foldable screens in navigation systems to enhance user experience and emphasize on infotainment and automotive interiors to help better control vehicle settings, which boosts the foldable screen market share.
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Foldable Screens Market Report Highlights
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Key Market Players | Apple, Xiaomi, Samsung, Microsoft, Sony, Lenovo, LG, TCL, Huawei, Motorola |
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