In the next report and forecast of ResearchAndMarkets.com, it is said that in 2020 the world market of foldable displays in monetary terms amounted to $ 268.9 million. According to the authors of the report, this market is growing rapidly and will reach $ 8.772 billion by 2028. At the same time, the average annual growth in the period covered by the forecast will amount to 53.2%.
The key factor driving the market's growth was cited as “manufacturers' increased focus on innovation,” including OLED technologies and wearable electronic devices. In particular, market growth is expected to be largely accelerated by growing demand for consumer electronics, especially smartphones and tablets, coupled with rising incomes in developing countries.
Analysts are confident that foldable OLED displays will gain popularity among smartphone manufacturers as they allow radical design changes while maintaining low power consumption and weight.
The factors that may be holding back the growth of the global foldable display market to some extent include the high cost and the problem of incompatibility between hardware and software.
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