The foldable smartphones global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Foldable Smartphones Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The foldable smartphones market size has grown exponentially in recent years. It will grow from $20.69 billion in 2023 to $25.1 billion in 2024 at a compound annual growth rate (CAGR) of 21.3%. The growth in the historic period can be attributed to growing consumer demand for larger screens in compact devices, improvements in hinge mechanisms, expansion of 5G networks enhancing mobile experiences, increasing investment in research and development, and competitive differentiation among smartphone manufacturers.
The foldable smartphones market size is expected to see exponential growth in the next few years. It will grow to $54.65 billion in 2028 at a compound annual growth rate (CAGR) of 21.5% The growth in the forecast period can be attributed to increasing adoption of remote and hybrid work models, growing demand for scalable and flexible IT solutions, integration of artificial intelligence for productivity enhancement, expansion of 5G networks enabling faster cloud access, and rising importance of data analytics for business insights. Major trends in the forecast period include expansion of multi-cloud strategies, emphasis on data privacy and compliance, integration of advanced collaboration platforms, development of industry-specific cloud solutions to address unique business needs, and a shift towards sustainable and energy-efficient cloud infrastructure.
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Scope Of Foldable Smartphones Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Foldable Smartphones Market Overview
Market Drivers –
The increasing adoption of mobile gaming is expected to propel the growth of the foldable smartphone market going forward. The increasing adoption of mobile gaming is driven by widespread smartphone accessibility, improved internet connectivity, affordable data plans, advancements in mobile gaming technology, and a growing variety of engaging free-to-play games. Additionally, social gaming experiences and the convenience of on-the-go play further contribute to its rising popularity. Foldable smartphones enhance gaming experiences by offering larger, immersive screens that expand for an expansive view and then fold for portability and convenience. For instance, in September 2023, according to a report published by Video Games Europe (VGE), a Belgium-based organization representing the video game industry, the European gaming industry earned $24.5 billion in 2022, up 5% from the previous year. Mobile gaming accounted for 42% of this, with 68% of Europeans choosing mobile platforms, up from 63% in 2021. Therefore, the increasing adoption of mobile gaming will drive growth in the foldable smartphone market.
Market Trends –
Major companies operating in the foldable smartphones market are developing hinge technology with multi-fold designs, such as tri-fold technology, to enhance user experience by offering larger displays in more compact devices, improving durability, and pushing the boundaries of design innovation. Tri-fold technology refers to a foldable display mechanism in which a single screen can fold at two different points, creating three distinct sections. For instance, in September 2024, Huawei Technologies Co., Ltd., a China-based technology company, launched the Mate XT Ultimate Edition, the world’s first tri-fold smartphone. It features a 10.2-inch foldable OLED screen that transforms from a 6.4-inch phone to a 10-inch tablet, along with a robust hinge system, 16 GB RAM, up to 1 TB storage, and a 5600mAh battery with 66W wired and 50W wireless charging. The device runs on HarmonyOS 4.2 and is available exclusively in China. The use of dual hinges with specialized inner and outer folds reflects a growing focus on foldable phones’ durability and seamless operation.
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
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Regional Insights –
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. The regions covered in the foldable smartphones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
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
Table of Contents
1. Executive Summary
2. Foldable Smartphones Market Report Structure
3. Foldable Smartphones Market Trends And Strategies
4. Foldable Smartphones Market – Macro Economic Scenario
5. Foldable Smartphones Market Size And Growth
…..
27. Foldable Smartphones Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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