Foldable Smartphone Market Overview 2031: Growth Drivers and Competitive Landscape

According to a recent report by Allied Market Research titled "Foldable Smartphone Market," the global foldable smartphone market was valued at $17.6 billion in 2021 and is projected to reach $174 billion by 2031, registering a compound annual growth rate (CAGR) of 26% from 2022 to 2031.

Foldable smartphones feature flexible screen technology that allows screens to bend and fold like paper. This emerging technology is expected to transform the semiconductor and electronics industries, driven by increasing demand from smartphone manufacturers and rapid advancements in OLED and AMOLED display technologies. Companies such as Samsung Electronics, LG, Visionox, and Huawei have developed foldable screens with varying specifications, including pixel density, thickness, and materials used.

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The growth of the foldable smartphone market is fueled by rising demand for advanced consumer electronics and an increasing number of internet users. Additionally, the growing popularity of phablets further supports market expansion. However, high production costs and manufacturing complexities associated with foldable displays pose challenges to industry growth. On the other hand, expanding product portfolios among smartphone manufacturers presents lucrative opportunities for market players in the forecast period.

Based on the display panel type, the flip pulp segment was the largest market in 2021, contributing to nearly three-fourths of the global foldable smartphone market share, and is expected to maintain its leadership status during the forecast period. This is due to the low cost of flip foldable smartphones as compared to foldable smartphones, making them more affordable. On the other hand, the fold segment is projected to witness the fastest CAGR of 28.4% from 2022 to 2031, owing to the increasing demand for modern consumer electronics along with the high adoption of mobile devices in the entertainment and gaming sector.

Based on sales channels, the online segment held the largest market share of more than half of the global foldable smartphone market in 2021 and is expected to maintain its dominance during the forecast period. The same segment is projected to witness the largest CAGR of 27.0% from 2022 to 2031. The growth of the segment is owed to its advantage of saving more time as compared to the offline medium.

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Regionally, North America led the market in 2021, a position it is expected to maintain due to technological advancements and new business models. However, Asia-Pacific is anticipated to witness substantial growth, with key players such as Huawei, Lenovo, ZTE, and Xiaomi contributing to regional market development.

The foldable smartphone market experienced steady growth during the COVID-19 pandemic, despite temporary factory shutdowns in several countries to control the virus. The market faced supply chain disruptions, including a shortage of mobile chipsets. Major manufacturers like Samsung, Xiaomi, OPPO, and LG Display temporarily halted production in countries such as China, India, South Korea, and parts of Europe. Since China plays a pivotal role in electronics manufacturing, the pandemic significantly impacted the market. For example, OPPO suspended operations in Noida, India, in May 2020. Additionally, lockdown restrictions led to reduced consumer demand for foldable devices.

Leading Market Players:
The prominent companies in the foldable smartphone market include ASUSTeK Computer Inc., Huawei Technologies Co., Ltd., LG Electronics, Microsoft Corporation, Motorola Mobility LLC, Samsung, TCL Technology, Vivo Mobile Pvt Ltd., Xiaomi Corporation, and ZTE Corporation.

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The report analyzes these key players of the global foldable smartphone market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report helps determine the business performance, operating segments, product portfolio, and developments by every market player.

Key Benefits for Stakeholders:

1. The study provides an in-depth analysis of the foldable smartphone market forecast along with current trends and future estimations to explain the imminent investment pockets.

2. Information about key drivers, restraints, and opportunities and their impact analysis on foldable smartphone market trends is provided in the report.

3. Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.

4. The foldable smartphone market analysis from 2022 to 2031 is provided to determine the market potential.

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