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Press Release / Technology / Some of the Major Growth Strategies Followed by Key Players in the Foldable Display Market

Some of the Major Growth Strategies Followed by Key Players in the Foldable Display Market

By mandar on July 11 2019 | 24 Views

The foldable display global market was valued at USD 91 million in 2017 and is expected to reach USD 1, 549.4 million by the end of the forecast period at a CAGR of 62%.

Foldable Display Market Highlights
The foldable display global market was valued at USD 91 million in 2017 and is expected to reach USD 1, 549.4 million by the end of the forecast period at a CAGR of 62%.
This growth can be attributed to the higher ownership of high-end smartphones, and the demand for flexible displays. In addition, the integration of flexible displays in smartwatches also drive the market growth. Asia-Pacific is the dominating regional market and is also expected to register the highest CAGR. The OLED-based foldable display is expected to dominate the market by type. The OLED technology is more preferered than LED and is far superior than any other presently available display technologies in terms of picture quality and color accuracy. OLED offers advantages such as low power consumption, better pixel density, and wide viewing angles. The application of foldable displays is observed for smarphones screens, televisions, and tablets and notebooks. However, these displays can also be used in head-mounted displays, head-up display, projectors, and near-to-eye devices. There are various players/manufacturers that continuously invest in upgrading the display technologies to provide cost-effective foldable displays for various applications. Some of them are Samsung Electronics, Sony Corporation, and LG Display, among others.
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Key Developments
In March 2019, Lenovo filed a patent for foldable designs, that provides two screens on the mobile phone. The company aims at competing against Samsung and LG to use this design in their upcoming smartphones.
In April 2019, Universal Display Corporation developed a phosphorescent organic LED to be used in premium smartphones. The phosphorescent organic LED can be used for smartphones with rollable and flexible smartphone and tablet models.
April 2017, ZTE corporation launched Axon M smartphone. The device includes two separate screens which act as separate displays on both sides of the smartphone yet can merge to make a single screen using software modifications. The company focuses on continuous development of its smartphone business segment to compete with the market leaders.
Segmentation
The global foldable display market has been segmented based on type, application, and region.
By type, the foldable display market has been segmented into LED, OLED, and AMOLED.
By application, the foldable display market has been segmented into smartphone display, tablets and notebook, television, and wearable display.
By region, the foldable display market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
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Foldable Display Market Regional Analysis
The market for foldable display is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographic analysis of foldable display market has been conducted for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East & Africa, and South America). According to MRFR analysis,
Asia-Pacific dominates the global foldable display market in terms of revenue generation during the forecast period. The market growth in Asia-Pacific is owing to the rich concentration of display device manufacturers. Moreover, the region has experienced a high demand for technically advanced and high-resolution smartphones and smartwatch display. This has increased the overall need to produce more OLED based foldable displays for the new and upgraded smartphones. Although, the consumer electronics market in the Middle East & Africa is increasing at a rapid rate with higher ownership of smartphones and internet from Jordan, and Israel, the region lacks display manufacturers; this makes the revenue generation capacity of the region less as compared to the others. On the other hand, the market in North America is also growing with the second highest CAGR during the forecast period. The major contributor to North American market growth includes countries such as the US and Canada, where a lot of start-ups are outsourcing their manufacturing and heavily investing in entering the foldable display market.
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