The foldable phone market study by Future Market insights (FMI) is intended to offer exclusive insights into growth drivers, restraints, and opportunities affecting growth in the market. Latest trends across various segments in terms of display size, RAM capacity, and price range are discussed in detail. The study also provides detailed analysis on growth strategies adopted by key market players.
ESOMAR-certified market research firm Future Market Insights (FMI) in its latest market analysis forecasts the foldable phone market to register year-on-year (YoY) growth at 20.3% through 2021, surpassing a valuation of around US$ 6.8 Bn by the end of the year.
Rapid shift from personal computers and laptops to foldable phones, will enable growth in the market at a CAGR of 25.2% between 2021 and 2031. FMI forecasts the overall sales of foldable phones to total US$ 65 Bn by 2031.
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Foldable phones combine the portability of a smart phone and the large screen of a tablet. They allow access to a larger tablet-like display when needed by unfolding the device. The extra screen size along with folding feature offers allows users to perform multiple tasks.
Proliferation of remote working and bring your own device (BYOD) trends has spurred the sales of foldable phones. Flexibility and convenience of these devices make them ideal for complementing remote working set-up.
Foldable phones come with bigger batteries and better storage capacity. They are ideal replacement for bulky laptops and tablets. Gaming enthusiasts are increasingly purchasing foldable phones for a better gaming experience. This will help the market gain traction in the coming years.
According to the study, store-based retailing will remain highly sought-after sales channel, with multi-brand stores accounting for 28.2% of the global market in 2021. However, with the rise of e-commerce, online retailing is expected to take over the spotlight during the forecast period.
In modern world people are more inclined to purchase thing online to save their time as well as money. Demand in the online retailers segment is expected to grow at a prolific CAGR of around 38.1% between 2021 and 2031.
The North America foldable phone market is projected to rise at a CAGR of 28.3% between 2021 and 2031. Besides this, FMI has projected the sales of foldable phones to consistently rise in South Korea, Japan, China, and the U.S.
“Innovations in the foldable mobile design and technology will accelerate the market growth during the forecast period. Leading market players are adopting strategies such as advertising, branding and marketing through online and offline channels, alike, to lure customers and strengthen their global footprint,” says the FMI analyst.
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Key Takeaways from Foldable Phone Market Survey
Key players operating in the foldable phone market are focusing on expanding their product portfolio by integrating latest technologies in their products. They have adopted various organic and inorganic growth strategies such as mergers and acquisitions, new product launches, partnerships and collaborations to strengthen their global footprint.
Discover more about foldable phone market with figures and data tables, along with the table of contents. You will also find detailed market segmentation on https://www.futuremarketinsights.com/ask-question/rep-gb-11962
Some of the prominent players operating in the foldable phone market profiled by FMI are:
More Insights on the Global Foldable Phone Sales Outlook
FMI provides an unbiased analysis of foldable phone market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global demand for foldable phone with a detailed segmentation on the basis of:
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Key Questions Covered in the Foldable Phone Sales Outlook Report
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