Market Synopsis
The data experts at Market Research Future Reports (MRFR) have analyzed that the global foldable display market is projected to value approximately USD 1,549.4 million, blooming at a CAGR of 62% during the forecast period. The capacity to resist heat and the high flexibility is the major factor enhancing the global foldable display market 2020. Owing to the attribute of high flexibility, it has been fetching immense demand from smartphone manufacturers. Besides, the expeditious developments being made in AMOLED and OLED is another substantial factor leading to the expansion of global foldable display market.
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The manufacturers of smartphones are making constant attempts to evolve the display technology to provide low-cost and affordable displays for several usages. In addition, the usage of thinner displays, easy usability and a flawless display escalate the demand for foldable display during the review period. Besides, the deployment of flexible displays in smartwatches is likely to augment the market size. Moreover, the presence of notable market players like Samsung Electronics, LG Display, and Sony Corporation is estimated to make the market more competitive and lucrative. The technology implemented in the folding display is evolving day by day, which is estimated to advance the SEM industry.
The explosion of COVID-19 has resulted in a standstill global foldable display market. Owing to the observation of nationwide lockdown in various regions, the market is estimated to face a downfall. We will provide COVID-19 impact analysis with the report.
Key Players
The established market competitors of the global foldable display market are Samsung Electronics Co., Ltd (South Korea), LG Display Co., Ltd (South Korea), BOE Technology Group Co. (China), Royole Corporation (China), Applied Materials, Inc. (the US), Tianma Microelectronics Co., Ltd (China), Semiconductor Energy Laboratory Co., Ltd (Japan), C3Nano, Inc. (the US), Visionox Technology Inc. (the US), and Altenergy Power System, Inc. (the US).
Market Segmentation
The global foldable display market can be segregated on the basis of application, type, and region.
On the grounds of application, the global foldable display market can be classified into wearable display, tablets and notebook, smartphone display, and television.
On the grounds of the type, the global foldable display market can be classified into OLED, LED, and AMOLED.
On the grounds of the region, the global foldable display market can be classified into North America, Europe, Asia-Pacific, and the rest of the world.
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Regional Analysis
The worldwide market is likely to actuate at a rapid speed during the review period from 2018 to 2023. The analysis of the foldable display market has been carried out for North America, Europe, Asia-Pacific, and the rest of the world. The analysis has stated that the worldwide market is likely to be reigned by the APAC region. The region consists of the most established display device manufacturers. Besides, the region is witnessed a surge in demand for high-resolution and technically developed smartphones and smartwatch. Among all nations of APAC, China, South Korea, Taiwan are estimated to make the maximum contribution during the review period. In addition, the region has witnessed a rise in demand for smartphones which is blooming the market. The second position has been attained by North America. The region is likely to prosper at the second most rapid CAGR during the review period. Among all nations, the US and Canada are estimated to make the most substantial contribution. However, the consumer electronics market in MEA is rising at a swift pace with increased ownership of smartphones and internet for Israel, and Jordan, the region does not succeed in establishing display manufacturers.
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