TECH SUPPLIER Jul 2021 - Market Forecast - Doc # US48005621
Worldwide Foldable Phone Forecast, 2021–2025
This IDC study presents our first five-year forecast for foldable phone shipments worldwide. The worldwide foldable phone market will reach a total of 4.0 million foldable phones in 2021, up 106.6% from the 1.9 million units shipped in 2020. Total foldable shipments worldwide will reach 13.9 million units by 2025, resulting in a CAGR of 48.1% for 2020–2025.
"The overall adoption of foldable devices continues to slowly grow despite the initial setback we witnessed with the first batch of foldables unveiled back in 2019, said Anthony Scarsella, research manager with IDC's Worldwide Quarterly Mobile Phone Tracker. "Foldable models continue to improve in terms of design, durability, and functionality. Although high ASPs will be a deterrent in the near term, the gradual decline in prices as more models come to market will be a key driver of growth for the entire category. Moreover, if Apple does join the foldable game, which we have currently not included in our forecast, it will undoubtedly bring increased excitement and mass awareness to the category in a way that only Apple can."
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