The display market is expected to grow from USD 137.7 billion in 2019 to USD 167.7 billion
by 2024, at a CAGR of 4.0% from 2019 to 2024. Growing adoption of OLED displays
in smartphones; huge investments toward, along with government support for,
construction of new OLED and LCD panel manufacturing facilities; and increasing
demand for 4K and 8K displays with the availability of UHD content are the
major driving factors for the market’s growth during the forecast period.
Factors like increasing deployment of HUD, central stack display, and
instrument cluster in automotive vehicles; and rising focus toward
technological shift and development of energy-efficient, attractive, and
high-end-specification display products are also contributing significantly
toward the display panel market’s growth.
Display panel makers focus on product launches, expansions, and
technology agreements to enter into new market segments. Panel manufacturers
are expanding by constructing new production facilities or upgrading existing
facilities.
Samsung Electronics (Samsung Display) (South Korea); LG Display (South
Korea); BOE Technology (China); AU Optronics (AUO) (Taiwan); Innolux (Taiwan);
Japan Display (JDI) (Japan); Sharp (Foxconn) (Japan); China Star
Optoelectronics Technology (CSOT, CDOT, TCL) (China); Tianma Microelectronics
(China); and Truly International (Hong Kong) are the leading players in the
display panel market.
Samsung has maintained its leading position in the TFT-LCD flat panel
display market since the past; it has consistently introduced products with
higher resolution, lower power consumption, lower cost, and higher yield rate.
With the demand for OLED displays having grown rapidly in the last 3 years, the
company can be seen to have captured a majority of the OLED market (90%, 2017)
owing to its continued investment and technological expertise in the OLED
technology domain and quick exporating with companies from
the entertainment industry to provide Cinema LED screens for theatres. Iansion of production capabilities. The company is focusing on expanding its market reach by collabn March
2017, Samsung acquired HARMAN International, which designs and engineers connected
products and solutions for automakers, consumers, and enterprises worldwide. In
January 2018, HARMAN launched the JBL LINK View, a voice-controlled, smart
display speaker with the Google Assistant built in. The company is focused on
developing new display technologies like micro-LED, advancements in LCD space
with QD, and flexible/curved OLED panels.
LG Display is the leading player in the LCD display segment (largest market
share in 2017). LG Display has expanded its manufacturing capabilities in
recent years by installing new OLED panel manufacturing plants. The company
offers a wide range of display panels for devices like television, smartphone,
tablet, notebook, desktop, automotive, and smart wearables. It is focused on
offering cost-competitive display products and maintaining stable and long-term
relationships with its customers
The company is financially strong owing to support from its parent
company. It has a strong global presence and a wide customer base particularly
in China; more than 65% of its 2017 revenue was from China (due to huge demand
for display panels from consumer electronics manufacturers). LG Display is
actively exploring and preparing for new business opportunities that may arise
in the changing display market. In June 2018, the company introduced a 65-inch
UHD rollable OLED display at the CES 2018. The display can be rolled up to a
small size and kept aside when not in use.
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