Global Foldable Smartphone Market Analysis By Form (Clamshell Foldable, Book-style Foldable, Rollable Foldable), By Display (OLED Foldable, LCD Foldable) & Forecast
- PUBLISHED ON
- 6/5/2023
- NO OF PAGES
- 260
- CATEGORY
- Electronics & Communication
Market Overview:
The global foldable smartphone market was valued at USD 15,150 million in 2020 and is estimated to reach a value of 150,160 million by 2033 with a CAGR of 28.16% during the forecast period. Foldable smartphones typically employ flexible OLED (Organic Light Emitting Diode) or similar display technologies, which enable the screen to bend or fold without compromising the quality of the visuals. These devices often incorporate a hinge mechanism that allows the screen to fold and unfold smoothly.
The foldable smartphone market is relatively new and has gained significant attention due to its unique design and potential to revolutionize the mobile industry. These devices offer users the flexibility to switch between a smartphone and a tablet-like experience, providing a larger display for multimedia consumption, multitasking, and productivity. The foldable design aims to enhance user experience and address the need for larger screen real estate without sacrificing portability.
Foldable smartphones are positioned as premium devices, often commanding higher price points compared to traditional smartphones. They are targeted towards tech enthusiasts, early adopters, and individuals who value cutting-edge technology and are willing to invest in a device that offers a unique and versatile user experience.
The global foldable smartphone market was valued at USD 15,150 million in 2020 and is estimated to reach a value of 150,160 million by 2033 with a CAGR of 28.16% during the forecast period. Foldable smartphones typically employ flexible OLED (Organic Light Emitting Diode) or similar display technologies, which enable the screen to bend or fold without compromising the quality of the visuals. These devices often incorporate a hinge mechanism that allows the screen to fold and unfold smoothly.
The foldable smartphone market is relatively new and has gained significant attention due to its unique design and potential to revolutionize the mobile industry. These devices offer users the flexibility to switch between a smartphone and a tablet-like experience, providing a larger display for multimedia consumption, multitasking, and productivity. The foldable design aims to enhance user experience and address the need for larger screen real estate without sacrificing portability.
Foldable smartphones are positioned as premium devices, often commanding higher price points compared to traditional smartphones. They are targeted towards tech enthusiasts, early adopters, and individuals who value cutting-edge technology and are willing to invest in a device that offers a unique and versatile user experience.
Report Scope
Report Attributes | Description |
Market Forecast in 2022 | USD 15,150 million |
Market Forecast in 2033 | USD 150,160 million |
CAGR % 2023-2033 | 28.16% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Product, end-user industry, company share, company heat map, company Capacity Technology Product capacity, growth factors and more |
Key Companies | Royole Corporation, Xiaomi Corporation, LG Electronics Inc., samsung, Motorola Mobility LLC, vivo Mobile Pvt Ltd, Huawei Technologies Co., Ltd., Microsoft Corporation, ZTE Corporation, AsusTek Computer Inc. |
The foldable smartphone industry is continuously evolving, and several key trends are shaping its development. Here are some of the prominent trends in the foldable smartphone industry:
Technological Advancements: Foldable smartphones are undergoing continuous technological advancements to improve durability, flexibility, and user experience. Manufacturers are working on developing more robust hinge mechanisms, durable flexible displays, and optimized software to enhance usability and address concerns related to creasing and durability.
Increasing Adoption and Market Growth: The adoption of foldable smartphones is gradually increasing as the technology matures and more companies enter the market. With the expansion of product offerings and increased consumer awareness, the foldable smartphone market is experiencing steady growth.
Expansion of Foldable Form Factors: Manufacturers are exploring different form factors beyond traditional clamshell and book-style designs. The industry is witnessing experiments with rollable displays that can be extended or retracted to adjust the screen size, providing users with more flexibility and options.
Enhanced Multitasking and Productivity Features: Foldable smartphones offer larger screen real estate when unfolded, allowing for improved multitasking capabilities. Manufacturers are introducing features that enhance productivity, such as split-screen modes, app continuity, and multi-window functionality, enabling users to make the most of the expanded display.
Improvements in Display Quality: Display technology is a crucial aspect of foldable smartphones, and manufacturers are continuously improving the quality of flexible displays. This includes advancements in resolution, color accuracy, brightness, and overall display performance to provide users with an immersive and visually appealing experience.
Pricing and Affordability: Initially, foldable smartphones were positioned as premium devices with high price points. However, there is a growing trend of introducing more affordable options in the mid-range segment, making foldable smartphones accessible to a wider consumer base.
Ecosystem Development and App Support: To enhance the user experience, manufacturers are working closely with app developers and software providers to optimize applications for foldable displays. There is a growing focus on building a robust app ecosystem that offers seamless and optimized experiences across different form factors.
Sustainability and Environmental Considerations: With increasing consumer awareness of environmental issues, sustainability has become a significant trend in the smartphone industry, including foldable smartphones. Manufacturers are striving to incorporate sustainable materials, energy-efficient components, and eco-friendly manufacturing processes to reduce the environmental impact of their products.
Competition and Market Dynamics: The foldable smartphone market is becoming more competitive, with an increasing number of companies entering the space. This competition is driving innovation, pushing manufacturers to differentiate their offerings, improve quality, and explore new features and form factors.
Market Dynamics:
Drivers:
interact with multiple apps side by side, enhancing multitasking capabilities. Users can, for example, browse the web while watching a video, take notes while reading an article, or chat with friends while working on a document.
App Continuity: App continuity is a feature that ensures a seamless transition between different screen orientations and folding states. When users fold or unfold the device, the apps automatically adjust to fit the new screen size or orientation, providing a smooth and uninterrupted user experience. This feature helps maintain productivity by preventing app interruptions during transitions.
Drag-and-Drop Functionality: Some foldable smartphones support drag-and-drop functionality, allowing users to easily move content or files between different apps or windows. This feature simplifies tasks such as transferring text, images, or files from one app to another, streamlining workflows and enhancing productivity.
Multi-Active Window Mode: Foldable smartphones offer multi-active window modes that enable users to have multiple apps running simultaneously in resizable windows. This feature allows users to interact with and switch between different apps without the need to constantly open and close them. It promotes efficient multitasking and boosts productivity by providing quick access to frequently used apps.
Optimized User Interfaces (UI): Foldable smartphones often have customized user interfaces that are designed to take full advantage of the larger unfolded screen. These interfaces may include features like taskbars, floating windows, and customizable app layouts, providing a more tailored and efficient user experience for multitasking and productivity.
Pen Input Support: Some foldable smartphones come with stylus or pen input support, allowing users to take handwritten notes, draw, or annotate documents directly on the screen. This feature enhances productivity for tasks such as note-taking, sketching, and editing, providing a more natural and precise input method.
Desktop Mode and External Display Support: Foldable smartphones can be connected to external displays or used in a desktop mode, offering a more desktop-like experience. This feature allows users to connect their device to a larger screen, keyboard, and mouse, enabling them to work with a more expansive workspace and perform tasks that require a traditional computing environment.
Segmental Analysis
Foldable smartphones are available in various form factors, each with its own unique design and functionality.
Here are some trends specific to the different form factors of foldable smartphones:
Clamshell Foldable:
Sleek and Compact Design: Clamshell foldable smartphones offer a compact and pocket-friendly design when folded, making them highly portable and convenient for daily use.
Clamshell Foldable:
Sleek and Compact Design: Clamshell foldable smartphones offer a compact and pocket-friendly design when folded, making them highly portable and convenient for daily use.
Improved Durability: Manufacturers are focusing on enhancing the durability of the hinge mechanism and the foldable display to ensure long-term reliability and resistance to wear and tear.
Affordable Options: Clamshell foldable smartphones are becoming more accessible to a broader range of consumers as manufacturers introduce more affordable options in this form factor.
Book-style Foldable:
Larger Display Size: Book-style foldable smartphones provide users with a significantly larger display area when unfolded, offering an immersive experience for multimedia consumption, gaming, and productivity tasks.
Multitasking and App Continuity: The expanded screen real estate in book-style foldable smartphones enables users to multitask more effectively, running multiple apps simultaneously and seamlessly transitioning between them.
Premium Features and Pricing: Many book-style foldable smartphones are positioned as high-end devices, incorporating premium features such as high-resolution displays, advanced camera systems, and powerful processors.
Rollable Foldable:
Innovative and Flexible Displays: Rollable foldable smartphones feature displays that can be extended or retracted, allowing users to adjust the screen size as needed. This form factor offers a unique and customizable user experience.
Focus on Display Durability: Manufacturers are investing in research and development to create rollable displays that are robust, resistant to creases, and capable of enduring repeated rolling and unrolling.
Emerging Technology: Rollable foldable smartphones represent a newer and less mature segment of the market. As the technology advances, more companies are expected to explore and introduce rollable devices.
General Foldable Smartphone Trends:
Advancements in Display Technology: Foldable smartphones are benefitting from ongoing improvements in flexible display technology, including better screen durability, higher resolution, increased brightness, and improved color accuracy.
Software Optimization: Manufacturers are working on optimizing software interfaces to provide a seamless user experience when transitioning between folded and unfolded states. App developers are also adapting their applications to leverage the unique features and larger screen sizes of foldable smartphones.
Price Reduction and Market Expansion: While initially positioned as premium devices, the foldable smartphone market is witnessing a gradual reduction in prices as more manufacturers enter the market and competition intensifies. This trend is expected to drive market growth and make foldable smartphones more accessible to a wider range of consumers.
Increased Adoption and Market Expansion: As the technology matures and consumer awareness grows, the adoption of foldable smartphones is expected to increase, leading to market expansion and more diverse product offerings.
These trends indicate the evolving nature of the foldable smartphone market, with a focus on form factor innovation, improved display technology, software optimization, and increased affordability. As the industry progresses, consumers can anticipate a wider range of options and enhanced features in foldable smartphones.
Regional Analysis:
Regional trends in the foldable smartphone industry can vary based on factors such as market demand, consumer preferences, regulatory environment, and technological advancements. Here are some regional trends that have been observed in the foldable smartphone industry:
Asia-Pacific:
Strong Market Presence: Asia-Pacific, particularly countries like South Korea, China, and Japan, has a strong presence in the foldable smartphone market. Companies like Samsung, Huawei, and Xiaomi have launched their foldable devices in this region, targeting tech-savvy consumers.
Technological Innovation: Asia-Pacific is known for its technological advancements, and it has been a hub for research and development in the foldable smartphone space. Manufacturers in the region are investing in developing cutting-edge technology, including flexible displays and hinge mechanisms.
Large Consumer Base: The region has a significant population and a high demand for smartphones. With growing disposable incomes and a preference for high-end devices, Asia-Pacific presents a promising market for foldable smartphones.
North America:
Early Adopter Market: North America, particularly the United States, has been an early adopter of new technologies, including foldable smartphones. Consumers in this region have shown interest in innovative devices and are willing to invest in premium products.
Strong Market Competition: Several major smartphone manufacturers, including Samsung and Motorola, have introduced their foldable smartphones in the North American market. This has led to increased competition and a wider range of options for consumers.
Focus on User Experience: Companies in North America emphasize providing a seamless user experience with their foldable devices. This includes optimizing software, enhancing app compatibility, and addressing durability concerns to ensure customer satisfaction.
Europe:
Growing Market Presence: The foldable smartphone market is expanding in Europe, with companies like Samsung, Huawei, and others launching their devices in this region. European consumers, particularly in countries like Germany, France, and the United Kingdom, show interest in new technology and premium smartphones.
Environmental Considerations: European consumers have a strong focus on environmental sustainability. Smartphone manufacturers in Europe are increasingly incorporating sustainable materials and eco-friendly practices in the production of foldable smartphones to align with consumer preferences and regulations.
Rest of the World:
Emerging Market Potential: Other regions, such as Latin America, the Middle East, and Africa, present emerging market potential for foldable smartphones. Increasing smartphone penetration and growing disposable incomes in these regions contribute to the demand for innovative devices.
Market Expansion Opportunities: Smartphone manufacturers are exploring opportunities to expand their presence in these regions by launching more affordable foldable smartphones tailored to local market preferences and affordability levels.
Competitive Landscape:
Samsung, one of the leading players in the foldable smartphone industry, has implemented a comprehensive strategy to establish itself as a key player in this emerging market. Here are some key elements of Samsung's foldable smartphone industry strategy:
Technological Innovation: Samsung has been at the forefront of foldable smartphone technology. The company invests heavily in research and development to drive advancements in flexible display technology, hinge mechanisms, and software optimization. Samsung's focus on innovation has led to the introduction of several generations of foldable smartphones, such as the Galaxy Z Fold and Galaxy Z Flip series.
Diverse Product Portfolio: Samsung offers a diverse range of foldable smartphones to cater to different consumer preferences and needs. The Galaxy Z Fold series provides a tablet-like experience with its larger foldable display, while the Galaxy Z Flip series offers a more compact form factor resembling a traditional flip phone. This portfolio expansion allows Samsung to target various customer segments and capture a wider market share.
Seamless User Experience: Samsung prioritizes delivering a seamless user experience with its foldable smartphones. The company has developed specialized software interfaces, including the One UI, to optimize app continuity, multitasking capabilities, and screen adaptation. Samsung also collaborates with app developers to ensure that popular applications are optimized for the unique features and screen sizes of foldable devices.
Marketing and Branding: Samsung utilizes extensive marketing and branding strategies to create awareness and generate excitement around its foldable smartphones. The company employs multi-channel marketing campaigns, product launches, and collaborations with influencers and celebrities to promote its foldable devices. Samsung's strong brand reputation and association with high-quality products contribute to the success of its foldable smartphone lineup.
Quality and Durability: Samsung emphasizes the quality and durability of its foldable smartphones. The company has implemented rigorous testing processes to ensure that its devices can withstand repeated folding and unfolding without compromising performance or display integrity. Samsung's focus on durability aims to address consumer concerns about the longevity and reliability of foldable devices.
Customer Support and After-Sales Services: Samsung provides dedicated customer support and after-sales services for its foldable smartphones. The company offers warranty programs, device protection plans, and specialized support channels to address customer queries and provide timely assistance. Samsung's commitment to customer satisfaction helps build trust and loyalty among its foldable smartphone users.
Ecosystem Integration: Samsung focuses on integrating its foldable smartphones into its broader ecosystem of products and services. This includes seamless connectivity with other Samsung devices, such as tablets, smartwatches, and earbuds, allowing users to enjoy a synchronized experience across multiple devices. Integration with Samsung's software platforms, such as Samsung DeX, further enhances productivity and versatility for users.
Collaboration and Partnerships: Samsung collaborates with various industry partners, including display manufacturers, chipset suppliers, and app developers, to drive innovation and enhance the overall foldable smartphone experience. By working with key players in the ecosystem, Samsung leverages collective expertise and resources to push the boundaries of foldable smartphone technology.
Samsung's foldable smartphone industry strategy revolves around technological leadership, a diverse product portfolio, seamless user experience, strong marketing and branding, quality and durability assurance, customer support, ecosystem integration, and strategic collaborations. Through these strategic initiatives, Samsung aims to maintain its position as a frontrunner in the foldable smartphone market and shape the future of this evolving industry.
Key Companies
• Samsung Electronics
• Huawei Technologies
• Motorola Mobility
• Xiaomi Corporation
• OPPO
• Vivo Communication Technology Co. Ltd.
• TCL Communication
• LG Electronics
• Microsoft Corporation
Segments
By Form
• Clamshell Foldable
• Book-style Foldable
• Rollable Foldable
By Display
• OLED Foldable
• LCD Foldable
By Geography
• North America
o U.S.
o Canada
o Mexico
• Europe
o U.K.
o Germany
o France
o Italy
o Spain
o Russia
• Asia-Pacific
o Japan
o China
o India
o Australia
o South Korea
o ASEAN
• Latin America
o Brazil
o Argentina
o Colombia
• MEA
o South Africa
o Saudi Arabia
o UAE
o Egypt
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