According to the report by Expert Market Research (EMR), the global foldable smartphone market size is projected to grow at a CAGR of 24.0% between 2024 and 2032. Aided by increasing product launches by leading market players and emergence of 5G technology, the market is expected to grow significantly by 2032.
Foldable smartphones, representing a fusion of mobile phones and tablets, have emerged as a new frontier in the smartphone industry. They are designed with flexible displays that can be folded to compact phone sizes or unfolded to provide a larger, tablet-like screen. This innovation addresses consumer demand for larger displays without compromising portability, thereby attracting both business professionals and the general public.
Continuous innovations in screen materials, battery technology, and hardware configurations are key foldable smartphone market drivers. The deployment of Organic Light Emitting Diode (OLED) and Super AMOLED displays, in particular, has been crucial in achieving vivid and flexible screens.
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The modern consumer, constantly seeking novelty and functionality, has shown keen interest in foldable smartphones. These devices offer a novel user experience, merging the convenience of a smartphone with the benefits of a larger screen.
Major tech companies are heavily investing in R&D to outpace competitors. Companies like Samsung, Huawei, and Motorola have already launched models, and others are likely to follow, spurring foldable smartphone market growth.
Asia Pacific, led by China and South Korea, is anticipated to be a significant market, owing to the presence of major manufacturers and a large consumer base. North America and Europe are expected to follow, driven by high consumer purchasing power and a propensity for early adoption of new technologies.
The competitive landscape includes prominent foldable smartphone market players such as Samsung Electronics, Huawei Technologies, and Motorola Inc. To capture market share, companies are focusing on innovation, aggressive marketing, partnerships, and developing devices at various price points to cater to different consumer segments.
Advancements in materials science may lead to the development of more durable and lightweight foldable smartphones. Furthermore, as production scales up and technology matures, prices are expected to decrease, making these devices accessible to a broader consumer base.
Integration with 5G technology and IoT devices is another anticipated foldable smartphone market trend, as foldable smartphones with larger and more versatile screens are uniquely positioned to serve as control hubs for various connected devices.
Foldable Smartphone Market Segmentation
The market can be divided based on functionality type, sales channel, and region.
Market Breakup by Functionality Type
- Inward Fold
- Outward Fold
Market Breakup by Sales Channel
- Online
- Offline
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Foldable Smartphone Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global foldable smartphone market. Some of the major players explored in the report by Expert Market Research are as follows:
- Samsung Electronics Co. Ltd
- Huawei Technologies Co. Ltd.
- Lenovo Group Ltd
- Google LLC
- Microsoft Corporation
- Xiaomi Inc.
- OPPO Mobile Telecommunications Corp., Ltd.
- ZTE Corporation
- TECNO MOBILE LIMITED
- Royole Corporation
- Others
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