How Has the Foldable Smartphones Market Evolved Historically and What is its Current Size?
The foldable smartphones market has seen considerable growth due to a variety of factors.
• In the past few years, the market size of foldable smartphones has surged dramatically. It is projected to expand from $25.1 billion in 2024 to $30.55 billion in 2025, with a compound annual growth rate (CAGR) of 21.7%.
Factors contributing to this historical growth include heightened consumer desire for larger screens in smaller devices, advancements in hinge technology, the proliferation of 5G networks which has improved mobile experiences, increased funding for research and development, and heightened competition among smartphone makers for differentiation.
What Does Future Hold for The Foldable Smartphones Market By 2029?
The foldable smartphones market is expected to maintain its strong growth trajectory in upcoming years.
• The market for foldable smartphones is projected to surge substantially over the coming years, expected to reach a size of $66.26 billion by 2029 with an impressive compound annual growth rate (CAGR) of 21.4%.
The expected expansion during the forecast period is due to a growing inclination towards remote and hybrid work structures, rising demand for adaptable IT solutions, the incorporation of artificial intelligence for better productivity, the broadening of 5G networks to enhance cloud speed, and increased recognition of data analytics' importance in business intelligence. The foreseeable future will see trends such as the broadening of multi-cloud strategies, an increased focus on data privacy and compliance, the amalgamation of advanced collaboration platforms, the creation of industry-specific cloud solutions to cater to unique business requirements, and a shift towards eco-friendly, energy-efficient cloud infrastructures.
What Are The Primary Growth Drivers In The Foldable Smartphones Market?
The continual surge in mobile gaming is poised to boost the foldable smartphone market's expansion. This upward trend in mobile gaming usage is fueled by the widespread availability of smartphones, enhanced internet connectivity, affordable data plans, progressive developments in mobile gaming technology, and a broad range of enticing free-to-play games. Moreover, social gaming scenarios and the ability to play games on the go further amplify its budding popularity. Foldable smartphones enrich these gaming experiences by providing extended, absorbing screens that can be unfolded for a wide view and folded for easy carrying and convenience. For example, the Video Games Europe (VGE), a gaming industry representative based in Belgium, published a report in September 2023 indicating a 5% rise in the European gaming industry's earnings from the previous year, reaching $24.5 billion in 2022. Mobile gaming was responsible for 42% of this total, with a 68% preference for mobile platforms among Europeans, a rise from 63% in 2021. As a result, the growing adoption of mobile gaming will invigorate the foldable smartphone market's growth.
What Is The Segmentation Of The Global Foldable Smartphones Market?
The foldable smartphonesmarket 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
Subsegments:
1) By Inward Fold: Clamshell Design, Tablet-To-Smartphone Design, Multi-Display Inward Fold, Dual-Screen Inward Fold, Flexible OLED Inward Fold
2) By Outward Fold: Book Design, Rollable Design, Flexible Screen Outward Fold, Dual-Screen Outward Fold, Multi-Display Outward Fold
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What Trends Are Reshaping The Future Of The Foldable Smartphones Market?
Leading corporations in the foldable smartphones industry are innovating hinge mechanisms with multiple folding designs, including tri-fold technology, to improve user engagement by providing larger screens in handheld devices, increase the longevity, and drive the boundaries of innovative designs. Tri-fold technology provides a foldable screen that can crease at two separate locations, forming three unique parts. For example, Huawei Technologies Co., Ltd., a company based in China, unveiled the Mate XT Ultimate Edition, the first tri-fold smartphone globally, in September 2024. It is equipped with a 10.2-inch collapsible OLED display, which transitions from a 6.4-inch phone to a 10-inch tablet, complemented by a sturdy hinge system, 16 GB RAM, expandable storage up to 1 TB, and a 5600mAh battery featuring 66W wired and 50W wireless charging. The device operates on HarmonyOS 4.2 and is available only in China. The incorporation of dual hinges with specialized internal and external folds underlines an increased emphasis on durability and uninterrupted functioning of foldable phones.
Who Are the Key Players In The Foldable Smartphones Market?
Major companies operating in the foldable smartphones market are:
• 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
What Are The Regional Insights Into The Foldable Smartphones Market?
Asia-Pacific was the largest region in the foldable smartphones market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the foldable smartphones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
