The foldable smartphones market size has grown exponentially in recent years, increasing from $20.69 billion in 2023 to $25.1 billion in 2024 at a compound annual growth rate (CAGR) of 21.3%. The historic growth can be attributed to a growing consumer demand for larger screens in compact devices, improvements in hinge mechanisms, the expansion of 5G networks that enhance mobile experiences, increasing investments in research and development, and competitive differentiation among smartphone manufacturers. The foldable smartphones market is expected to continue this exponential growth, projected to reach $54.65 billion in 2028 at a CAGR of 21.5%. This future growth is driven by the increasing adoption of remote and hybrid work models, a growing demand for scalable and flexible IT solutions, integration of artificial intelligence to enhance productivity, the further expansion of 5G networks facilitating faster cloud access, and a rising importance of data analytics for business insights. Major trends in the forecast period include the expansion of multi-cloud strategies, an emphasis on data privacy and compliance, integration of advanced collaboration platforms, development of industry-specific cloud solutions to meet unique business needs, and a shift towards sustainable and energy-efficient cloud infrastructure.
Global Foldable Smartphones Market Key Driver
The increasing adoption of mobile gaming is expected to propel the growth of the foldable smartphone market going forward. This trend is driven by widespread smartphone accessibility, improved internet connectivity, affordable data plans, advancements in mobile gaming technology, and a growing array of engaging free-to-play games. Additionally, social gaming experiences and the convenience of mobile play contribute to its rising popularity. Foldable smartphones enhance gaming by offering larger, immersive screens that expand for an expansive view and fold for portability. In September 2023, Video Games Europe reported that the European gaming industry earned $24.5 billion in 2022, a 5% increase from the previous year, with mobile gaming accounting for 42% of this revenue. The percentage of Europeans choosing mobile platforms rose from 63% in 2021 to 68% in 2022. Thus, the growing mobile gaming adoption will drive growth in the foldable smartphone market.
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Global Foldable Smartphones Market Segments
The foldable smartphones market covered in this report is segmented –
1) By Type: Inward Fold, Outward Fold
2) By Operating Type: Android, iPhone Operating System (iOS), Other Operating Types
3) By Random Access Memory (RAM): 16GB, 12GB, 8GB
4) By Sales Channel: Online, Offline
By Geography:The regions covered in the foldable smartphones market report areAustralia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the foldable smartphones market in 2023. North America is expected to be the fastest-growing region in the forecast period.
Major Foldable Smartphones Industry Players
Samsung Electronics Co. Ltd., Microsoft Corporation, Huawei Technologies Co. Ltd., Sony Corporation, Lenovo Group, HP Inc., Vivo Communication Technology Co. Ltd., Xiaomi Corporation, OPPO Electronics Corporation, BOE Technology Group, TCL Technology Group Corporation, ZTE Corporation, Honor Device Co. Ltd., Schott AG, OnePlus Technology Co. Ltd., Meizu Technology Co. Ltd., HTC Corporation, Royole Corporation, Tecno Mobile Limited, Infinix Mobile, Tianma Microelectronics, Visionox, Nubia Technology Co. Ltd., Realme Technology
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Foldable Smartphones Market Overview
Foldable smartphones are mobile devices featuring flexible screens that can bend or fold, allowing the device to switch between compact and expanded form factors. These devices typically use advanced materials such as flexible OLED (Organic Light-Emitting Diode) displays, which can withstand repeated folding without damage. The main purpose of foldable smartphones is to offer a larger display experience, similar to a tablet, while maintaining the portability of a traditional smartphone.
Foldable Smartphones Global Market Report 2023 provides data on the global foldable smartphones market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The foldable smartphones market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
