Foldable Display Market Gaining Impetus from Growing Applications | Applied Materials, Asahi Glass Co., Ltd., C3Nano, Inc., Sumitomo Chemical, UBE Industries, Ltd., BOE Technology Group Co., Ltd., LG Display, Royole Corporation, Samsung Display, Tianma Mi

Foldable Display Market is anticipated to grow at an exponential rate owing to the increasing inclination of smartphone manufacturers to integrate this novel innovation into their product offerings. Companies are foreseeing the technology as the next big thing for key differentiation in their products. Many companies have filed patents for their devices that will enable them to stabilize the falling smartphone market and captivate the attention of tech-savvy consumers creating growth opportunities for the market.

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The key driver for the market is the growing support to this new technology from the industry players. Google is among the major supporters of the technology as it requires a compatible integration of hardware and software for foldable devices. The company is ensuring that there is a uniform API surface for the developers to support the future phones. Screen continuity, multi-resume, and multi-display are some of the software that Google is testing for this technology.

The key players covered in the Foldable Display Market: -
1. 3M
2. Applied Materials
3. AP Systems
4. Asahi Glass Co., Ltd.
5. C3Nano, Inc.
6. Fuji Film
7. KANEKA CORPORATION
8. Sumitomo Chemical
9. UBE Industries, Ltd.
10. BOE Technology Group Co., Ltd.
11. LG Display
12. Royole Corporation
13. Samsung Display
14. Semiconductor Energy Laboratory Co., Ltd.
15. Tianma Microelectronics

Major Growth Drivers in Foldable Display Market: -
• Technological advancements in OLED displays
• Increasing demand of high specification products from the flourishing electronics industry
• Increasing investment by smartphone manufacturers in development of foldable phones
• Commercialization of foldable smartphones by Samsung and Royole Corporation
• Development of advanced materials for foldable displays by suppliers
• Growing support by Google and Android for foldable displays

The Android community has further extended support by modifying their applications that will be compatible with these advanced screens. In addition, Samsung and Apple are collaborating to optimize the UI experience for such devices. There are various technical solutions that need to be worked upon to provide unprecedented experience to consumers.

The commercialization of smartphones set by Samsung and Royole Corporation in 2019 will further create enormous growth prospects for the market. There is an intense competition among companies to launch its device early in the industry. Huawei, Xiaomi, and Lenovo are working rigorously in eliminating the drawbacks from their device prototypes. With the companies launching their products in the future, the foldable display market will witness lucrative growth.

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The smartphones are the initial step for the technology; which is further expected to explore its potential in other markets such as notebooks, wearables, TVs, etc. The market will be fueled by the technical capabilities of companies to incorporate them in their products with different designs, confirming their practicality and usefulness.

The Asia Pacific foldable display market is expected to grow at a modest rate owing to the high associated cost. It will limit the adoption in low-income countries. As most of the consumers in these regions fall under the middle class, there will be a slow adoption for such devices. Samsung’s foldable smartphone is speculated to be launched in the market at a price of over USD 1,700 in 2019.
North America is the major market owing to the adoption of technological advancements and high disposable incomes of consumers, etc. The U.S. smartphone industry is one of the biggest industries in the world. The presence of major companies, such as Apple and Microsoft, which are at the forefront of integrating these displays is contributing to the regional growth.

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Major manufacturers in the market space are Samsung, BOI, Innolux, LG, Royole Corporation, among others. The industry is consolidated, and the players have been focusing on developing technologically-advanced products by investing in R&D. In October 2018, Royole Corporation launched its smartphone/tablet device in the market named FlexPai, which is available for developers at a price of over USD 1,300.

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