Global Foldable Smartphone Market Insights Forecasts to 2033

• The Global Foldable Smartphone Market Size was Valued at USD 27.60 Billion in 2023.
• The Market Size is Growing at a CAGR of 16.93% from 2023 to 2033.
• The Worldwide Foldable Smartphone Market Size is Expected to Reach USD 131.91 Billion by 2033.
• North America is expected to Grow the fastest during the forecast period.

The Global Foldable Smartphone Market Size is Anticipated to Exceed USD 131.91 Billion by 2033, Growing at a CAGR of 16.93% from 2023 to 2033.

Market Overview

A foldable smartphone is a type of mobile device that features a flexible display screen, allowing the device to fold or bend. This design enables the smartphone to have a larger screen size when unfolding, providing users with a more immersive experience for tasks such as watching videos, browsing the web, or playing games. When folded, the device becomes more compact and easier to carry or store, making it convenient for everyday use. It has received a lot of hype since its initial launch from market participants, tech enthusiasts, and common consumers. Multiple market giants, including Xiaomi and Huawei, have debuted their foldable phones in recent years, and many more are developing their products. Aside from that, the increased consumer spending on smartphones is driving smartphone manufacturers to develop new items in the market, hence enhancing market growth. E-paper and OLED screens are two examples of flexible display technology. When power passes through organic compounds such as e-paper and OLED, they emit their light, which indicates that these displays do not require lit LEDs to function, allowing foldable smartphones to be thinner and more flexible.

Report Coverage

This research report categorizes the market for the global foldable smartphone market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global foldable smartphone market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global foldable smartphone market.

Driving Factors

Foldable cellphones' multitasking and versatility help to drive their market share rise. Users can easily convert between a compact form for daily use and a larger form for performance or immersive content consumption. This versatility attracts consumers who are seeking a single device that can serve several functions, providing an enormous potential for the foldable smartphone industry. In addition, manufacturers are investing heavily in R&D to build foldable, flexible, and robust screens that significantly lead to increased functionality and user satisfaction. The development is a significant driver for the foldable smartphone market, allowing it to reach its full potential. Foldable smartphones have significant market potential because they meet the need for larger screens without sacrificing portability. Foldable devices are becoming increasingly popular among users who want large displays for tasks such as multimedia consumption, gaming, and multitasking. This demand-driven trend drives foldable smartphones into the market, boosting their proportion of the mobile device sector.

Restraining Factors

The price reductions while preserving large-scale advances hamper the expansion of the foldable smartphone market. Technology innovations occur at a larger cost, raising the end product price and reducing demand for high-end smartphones. Furthermore, rising raw material costs raise the issue that producers face. However, the durability of the device is the major concern that limits the market growth for foldable smartphones.

Market Segmentation

The global foldable smartphone market share is classified into functionality type, RAM, and sales channel.

• The inward fold segment is expected to grow at the fastest CAGR during the forecast period.   

Based on the functionality type, the global foldable smartphone market is categorized into outward fold and inward fold. Among these, the inward fold segment is expected to grow at the fastest CAGR during the forecast period. The first form of fold utilized in foldable smartphones is the inward fold, which lets users access two screens, one small on the outside and one larger on the inside. progressively, the inward fold in foldable smartphones was discovered to be considerably more efficient and durable than the outward fold, which has one large screen. One of the biggest disadvantages of the outward fold is that it exposes the sensitive foldable screen to the elements, which can quickly destroy it. After receiving feedback from experts and users, some businesses that were adopting outward folds for foldable smartphones switched to inside folds.

• The 8GB RAM segment is expected to hold a significant share of the global foldable smartphone market during the forecast period.

Based on the RAM, the global foldable smartphone market is categorized into 16GB, 12GB, and 8 GB. Among these, the 8GB RAM segment is expected to hold a significant share of the global foldable smartphone market during the forecast period. The 8 GB RAM size is recommended in the foldable phone market because it allows for smooth multitasking, effective performance, and an improved user experience with resource-intensive applications. However, the processing power is determined by the available RAM. More RAM equals more computing power. While producing the output, a wide range of information is processed, including games, apps, software, and images. With more RAM one can acquire natural material, the way it is designed to be without damaging it at any point in time.

• The offline segment is expected to hold a significant share of the global foldable smartphone market during the forecast period.

Based on the sales channel, the global foldable smartphone market is categorized into offline and online. Among these, the offline segment is expected to hold a significant share of the global foldable smartphone market during the forecast period. Despite the proliferation of online platforms, offline retail serves as significant for consumers who want a hands-on experience preceding a purchase. Innovations in the industry include interactive retail, which allows consumers to interact with devices before making a purchase choice. The offline application space still has tremendous potential for growth, particularly among consumers who value in-person interactions and fast product availability. The report identifies the offline application segment as a significant and potentially dominant segment in the foldable smartphone market, illustrating the importance of physical retail experiences.

Regional Segment Analysis of the Global Foldable Smartphone Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific is anticipated to hold the largest share of the global foldable smartphone market over the predicted timeframe.

Asia Pacific is projected to hold the largest share of the global foldable smartphone market over the forecast period. The primary driver is the region's rapidly increasing technology developments in foldable smartphones by market leaders such as Samsung, Huawei, Xiaomi, OPPO, and others. The majority of available foldable smartphones have been introduced by firms in the Asia-Pacific region. These market players hold the majority of the market share and have increased rivalry, resulting in the expansion of the foldable smartphone market in the region. However, China is the world's leading manufacturer of electronic devices and components. One of the reasons that firms make their products in China is the abundance of low-wage workers accessible in the country. In addition, the commercial environment of networked dealers, component manufacturers, and distributors has improved, making China a more skilled and cost-effective region to manufacture. These are the elements driving the global foldable smartphone market.

North America is expected to grow at the fastest CAGR growth of the global foldable smartphone market during the forecast period. The rising number of smart homes equipped with connected technologies such as the Internet of Things (IoT) is driving demand for foldable smartphones in the country. The emergence of the 5G connection provides new opportunities for smartphone manufacturers to produce new handsets that support 5G, providing users with better and improved smartphones.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global foldable smartphone market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Motorola Mobility LLC
• Huawei Technologies Co. Ltd.
• Royole Corp.
• Lenovo Group Ltd.
• Samsung Electronics Co. Ltd
• Apple Inc.
• LG Electronics Inc
• Microsoft Corp
• OPPO Co. Ltd.
• Energizer Holdings Inc.
• Sony Corp.
• ZTE Corporation
• TCL Corp
• Xiaomi Corp
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In February 2024, Motorola's new Adaptive Display concept phone, which will be shown at MWC 2024, aims to differentiate itself from competitors. This Android gadget extends the foldable concept to new heights with its adaptability and shape-shifting capabilities. Rather than just folding in half like a book, the adaptive display can bend into several shapes to meet varied requirements. Its most interesting feature is its potential to wrap around the wrist like a 6.9-inch smartwatch.

• In October 2023, OPPO, the world's leading smart device brand, recently revealed the global release of its Find N3 and Find N3 Flip foldable smartphones. Each provides innovative experiences in image, design, and usability, allowing consumers to demand more from their next foldable.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global foldable smartphone market based on the below-mentioned segments: 

Global Foldable Smartphone Market, By Functionality Type

• Outward Fold
• Inward Fold

Global Foldable Smartphone Market, By RAM

• 16GB
• 12GB
• 8GB

Global Foldable Smartphone Market, By Sales Channel

• Offline
• Online

Global Foldable Smartphone Market, By Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa