There will be a $26.0 Billion Foldable Smartphone Market Worldwide by 2031

Global foldable smartphone market growth is driven by a growing number of internet users, an increase in advanced consumer electronics, and phablet sales. During the forecast period, Asia-Pacific is expected to exhibit the fastest CAGR.

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An industry report estimates that foldable smartphones will generate $17.6 billion in 2021, and $174.0 billion by 2031, with a CAGR of 26.0%. Various market trends, key segments, investment pockets, value chains, regional landscapes, and competitive scenarios are examined in detail in the report.

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An increase in the demand for advanced consumer electronics, as well as an increase in Growth in the mobile market is driven by internet users and the phablet demand Smartphone market for foldable devices worldwide. The market for foldable smartphones worldwide. However, the high cost of advanced

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Global demand for foldable displays is hindered by technology and manufacturing complexity. The growth of the market. Similarly, expanding the product portfolio would be beneficial. Global market growth is being driven by smartphone vendors as we move forward.

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Scenario 19 for COVID

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• As a result of COVID-19's outbreak in 2020, production and sales of foldable smartphones declined and operations ceased. Domestic and international production were negatively affected by the implementation of strict rules and the practice of social distancing across the globe.

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• Due to a halt in production, mobile chipsets were in short supply. Manufacturing operations have been suspended in China, India, South Korea, and Europe by several manufacturers, including Samsung, Xiaomi, OPPO, and LG Display.

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• As a result of the return to normality in the pandemic situation, the market is now recovering.

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In the forecast period, the flip segment will rule the roost

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Flip pulp panels dominated the foldable smartphone display panel market in 2021, accounting for nearly three-fourths of the global market share, and are expected to remain the market leader. As compared to foldable smartphones, flip foldable smartphones are more affordable due to their low cost. A higher adoption of mobile devices in the entertainment and gaming sectors is expected to drive the fold segment's CAGR to 28.4% from 2022 to 2031.

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As the forecast period progresses, the online segment is expected to maintain its dominance

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During the forecast period, the online segment is expected to hold the largest share of the global foldable smartphone market, with over half of the market in 2021. A CAGR of 27.0% is predicted for that segment between 2022 and 2031. As compared to offline media, it saves more time, which accounts for its growth.

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Revenue growth in North America to remain prominent by 2031

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As the largest market based on region, North America accounted for over two-fifths of global foldable smartphone sales in 2021 and is expected to lead in terms of revenue in 2031. Due to the presence of numerous smartphone companies in the region, smartphones are easily available at lower prices in the region. During the forecast period, the Asia-Pacific market will display the fastest CAGR of 28.6%. Due to the rapid adoption of foldable smartphones in the entertainment and gaming industry, the market will display the fastest CAGR of 28.6%.

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Players in the market:

• Xiaomi Corporation
• AsusTek Computer Inc.
• LG Electronics Inc.
• Vivo Mobile Pvt. Ltd.
• Royole Corporation
• Huawei Technologies Co., Ltd.
• Microsoft Corporation
• Motorola Mobility LLC
• ZTE Corporation
• Samsung

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Global foldable smartphone market report analyzes these key players. In order to penetrate the market and strengthen their position in the industry, these players have adopted several strategies, such as expansion, new product launches, partnerships, and others. Each market player can use the report to determine their business performance, operating segments, product portfolio, and developments.