Foldable Smartphone Market to Grow with a CAGR of 12.8% through 2030

The foldable smartphone market is driven by technological advancements, the demand for multitasking, and 5G connectivity, while facing challenges such as high production costs, durability concerns, and software optimization issues.

According to TechSci Research report, “Foldable Smartphone Market - Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030F”, the global foldable smartphone market was valued at USD 28.43 Billion in 2024 and is expected to reach USD 58.56 Billion by 2030 with a CAGR of 12.8% during the forecast period. The foldable smartphone market is witnessing rapid growth, fuelled by significant technological advancements and evolving consumer demands. Key drivers include the ongoing evolution of flexible display technologies, the desire for larger screens without sacrificing portability, and increasing consumer confidence in the durability of foldable devices. As manufacturers introduce more affordable and accessible models, the market is becoming more appealing to a wider audience, including those seeking innovative mobile solutions with multitasking capabilities. Additionally, as 5G networks continue to expand, foldable smartphones offer enhanced connectivity, fostering a more seamless experience for consumers and driving further adoption of the technology.

At the same time, the market faces several challenges that could impact its growth trajectory. High production costs remain a significant barrier, as the complex manufacturing process for foldable smartphones, including the use of specialized materials such as flexible OLED displays and ultra-thin glass, increases the overall price point. These costs are passed on to consumers, limiting the accessibility of foldable devices for price-sensitive buyers, particularly in emerging markets. Durability concerns also persist, as some consumers continue to view foldable smartphones as fragile. Although advancements in materials and design have made these devices more resilient, concerns regarding long-term wear and tear—such as screen creases or hinge malfunctions—still exist. Furthermore, there is a need for app developers to optimize their software for foldable displays, as not all applications are compatible with the unique form factor, hindering the user experience. Despite these challenges, the market’s potential remains robust, and manufacturers are investing heavily in research and development to overcome these obstacles. With continued innovation in display technology, cost-reduction strategies, and consumer education on the benefits of foldable smartphones, the sector is positioned for substantial growth. As manufacturers continue to expand their product lines with a range of price options and improve device durability, the foldable smartphone market is poised to become a significant segment within the global smartphone industry.

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The Foldable Smartphone Market is segmented into functionality, price range, sales channel and region.

Based on the price range, the mid-range segment is the fastest-growing segment, with several brands, including Samsung and Motorola, introducing more affordable foldable devices. The lower price points of these devices are attracting a larger consumer base, including those who may have previously been unable to afford premium foldable smartphones. As technology advances and production costs decrease, the mid-range foldable smartphone market is expected to continue growing, offering consumers a more accessible entry point into the foldable market.

Based on the sales channel, online sales are the fastest growing segment in the foldable smartphone market, driven by the increasing reliance on e-commerce platforms and the convenience of purchasing smartphones online. Leading online retailers like Amazon, Samsung's official website, and other regional e-commerce platforms contribute significantly to the sales of foldable smartphones. The ease of access to product information, reviews, and online deals has made online sales the preferred option for many consumers.

Based on the region, the North America region is the fastest-growing market for foldable smartphones, driven by high consumer demand for premium devices and technological innovations. The adoption of 5G technology and the increasing interest in foldable devices, especially in the United States, are key factors propelling the growth of the market in this region. Consumers in North America are highly receptive to innovative devices and are willing to invest in high-end, feature-rich smartphones. The growing popularity of foldable smartphones in the region is also supported by the expansion of retail channels and the launch of affordable foldable models. The region is expected to continue experiencing rapid growth as consumer interest in foldable technology expands and manufacturers introduce more affordable and diverse options.

Major companies operating in the global foldable smartphone market are:

• Samsung Electronics Co., Ltd.
• Huawei Technologies Co., Ltd.
• Motorola Mobility LLC
• Oppo Mobile Telecommunications Corp., Ltd.
• Xiaomi Corporation
• Honor Device Co., Ltd.
• OnePlus Technology (Shenzhen) Co., Ltd.
• Microsoft Corporation
• Google LLC
• Royale Corporation

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“A key trend in the foldable smartphone market is the rise of customizable features and personalization options. Consumers are increasingly seeking devices that reflect their personal style and preferences, and foldable smartphones offer an ideal platform for this. Manufacturers are incorporating customizable software interfaces, unique colour options, and modular designs, allowing users to personalize their devices to suit their needs. Additionally, foldable smartphones offer a more dynamic user interface due to their flexibility, enabling users to adjust the layout and features based on their activities. This trend of customization is likely to continue as foldable smartphones become more mainstream, with consumers demanding greater control over the appearance and functionality of their devices“, said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

"Foldable Smartphone Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Functionality (Horizontal Fold, Vertical Fold, Others), By Price Range  (Low Range, Mid-Range, Premium), By Sales Channel  (Online, Offline), By Region, & Competition, 2020-2030F”, has evaluated the future growth potential of global foldable smartphone market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global foldable smartphone market.

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