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Global Foldable Phones Market to See CAGR of 24.6% from 2019 to 2025
May 14, 2019 | Globe NewswireEstimated reading time: 1 minute
The global foldable phones market is expected to witness a CAGR of 24.6% from 2019 to 2025. Advent of nascent technology attracting the target demographic is expected to drive the market growth over the forecast period. Moreover, advantages over existing technologies in the market will propel the market growth in the coming years.
Foldable phones are at the forefront of smartphone technology set to be commercialized in the year 2019. Combining the attributes of a large-screen tab with the portability of smartphones is expected to attract the customer base. New entrants, such as Samsung and Huawei will set the trend of this new technology and solidify their position in the market. Major players are anticipated to enter the market by the year 2020. Foldable phones have high cost; therefore, an economic version is likely to flood the market in the coming years. Additionally, new folding technology is also anticipated to enter the market over the forecast period, for instance, Apple, Inc. has patented its folding phone with a hinge heating technology to protect it from damage incurred in use overtime.
Outwards Segment: the Fastest CAGR from 2019 to 2025
Based on folding technology, outwards segment is anticipated to register the fastest CAGR from 2019 to 2025. This can be attributed to the wedge problem faced in the inward folding smartphones. Smartphone with inward folding screen, such as the Samsung Galaxy Fold experiences a wedge formation in the middle of the screen. However, the outwards folding smartphones, for instance, the Huawei Mate X folds outwards generate less pressure on the screen. This results in minimal curve formation on the screen.
Foldable Phones - Regional insight
Asia-Pacific is expected to hold the largest share of the market over the forecast period. Rise in per capita income of the target demographic of this region is anticipated to drive the market growth in the coming years. Moreover, decrease in the cost of these devices due to presence of ubiquitous electronics manufacturing units in this region is expected to drive the market growth over the forecast period. Additionally, presence of key players in this region is expected to give impetus to the market growth from 2019-2025.
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