Foldable smartphones provides ultimate mobility with a compact design. They combine the portability of a smartphone with the usability of a tablet. When folded, they are slim enough to easily fit into pockets while still offering a large touchscreen for browsing, watching videos and multitasking. Their flexible OLED displays provides smooth operation and sturdiness. With improved design and engineering, these premium smartphones are becoming more durable and affordable. The global Foldable Smartphone Market is estimated to be valued at US$ 22.95 Bn in 2023 and is expected to exhibit a CAGR of 9.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving the growth of the foldable smartphone market is the increasing adoption of premium and flagship smartphones. Consumers are willing to pay more for innovative features and superior display quality offered by foldable smartphones. Major smartphone brands such as Samsung, Huawei and Motorola have launched premium foldable devices with competitive pricing. This has boosted their sales volumes. Moreover, technological advancements have improved durability concerns associated with the flexible displays. Manufacturers are optimizing hinge mechanisms and using stronger screen materials without compromising on visual experience. Advancements in 5G connectivity and mobile computing are also augmenting demand for large screen smartphones and thus fueling market growth over the forecast period.
Segment Analysis
The global foldable smartphone market is dominated by the inward folding segment. This segment accounted for around 75% of the total market share in 2023 owing to its compact and portable nature which makes it easy to carry and handle. Inward folding phones can be folded such that the screen lies protected on the inside of the device preventing any damage to the display.
Key Takeaways
The global Foldable Smartphone Market Demand is expected to witness high over the forecast period of 2023 to 2030.
Regional analysis: North America captured over 30% share of the global market in 2023 led by increasing adoption of technologically advanced smartphones in countries like the US and Canada. The region is expected to maintain its dominance throughout the forecast period driven by rising spend on consumer electronics.
Key players related content: Key players operating in the foldable smartphone market are Thermo Fisher Scientific, F. Hoffmann-La Roche AG, Liquid Genomics, Inc., AROS Applied Biotechnology A/S, Myriad Genetics, Inc., QIAGEN, Eurofins Scientific, Genomic Health, Bio-Rad Laboratories, Inc., Epigenomics AG, and Aepodia. Samsung Electronics remains the dominant player in the global foldable smartphone market with over 50% share. The company holds a strong brand value and was the pioneer to launch commercially successful foldable phones globally.
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Introducing Samsung Galaxy Z Flip Smartphone.
Galaxy Z is a second foldable smartphone with first folding glass screen.
Read full Specifications and feature details at Xitetech.
