The report
"Display
Market with COVID-19 Impact Analysis by Product (Smartphones, Wearables,
Television Sets, Signage, Tablets), Resolution, Display Technology (LCD, OLED,
Direct-View LED, Micro-LED), Panel Size, Vertical, and Geography - Global
Forecast to 2026", size was valued at USD 148.4 billion in 2021 and is projected to
reach USD 177.1 billion by 2026. It is expected to grow at a CAGR of 3.6%
during the forecast period. Surging adoption of OLED displays in various
applications, increasing use of LED displays for video wall, TVs, and digital
signage applications, growing demand for interactive displays in various
applications, and rising demand for display-based medical equipment, including
ventilators and respirators, due to COVID-19 pandemic are the key driving
factors for the display market.
LCD
technology to hold major share of the display market during the forecast
period.
Liquid crystal
display (LCD) is a display technology that has been popular for years in most
display panels. LCDs are bright, affordable, reliable, and provide excellent
visual performance. LCD displays dominate the entire size spectrum of display
panels (ranging from small devices like smartphones and wearables to
medium-sized and large devices like monitors and televisions). LCD panels are
most widely used in products such as TVs, monitors and laptops, and
smartphones. To compete with other display technologies, LCDs have undergone
several technological advancements in terms of substrate type (glass and
plastic) and substrate manufacturing process (like A-Si, LTPS, and IGZO). To
offer better picture quality, companies have also developed QD color
enhancement films for LCDs.
Smartphones
to hold major share of the display market during the forecast period.
The demand for
smartphones has increased considerably in the recent past, which has increased
the need for technologically advanced displays. Various smartphone manufacturing
companies are now focusing on manufacturing smartphones equipped with
technologically advanced displays, such as AMOLED. Smartphones mainly use small
displays (LCD or OLED). OLED displays have made significant inroads;
smartphones have become more sophisticated, attractive, user-friendly, and
offer high-resolution displays.
APAC to
witness a higher CAGR during the forecast period.
The high demand for
display panels in countries such as South Korea, China, and Japan is the major
factor for the dominance of APAC in the global market. Additionally, several
key original brand manufacturers and the majority of display manufacturers are
based in APAC. Many operations such as R&D, manufacturing, and assembling
related to LCD and OLED displays are being shifted to China owing to the low
cost associated with logistics operations associated with the delivery of end
products in the display market. Since Samsung and LG Display are forgoing a
part of their LCD display panel manufacturing operations in favor of OLED
display panels, it is expected to create a void in the LCD display market.
Chinese players, such as CSOT, BOE Technology, and Tianma Microelectronics,
attempt to fill this void by opening new LCD display panel manufacturing plants
in China. China is also emerging as a leading consumer product manufacturing
hub with local players expanding their market share in all segments. These
factors are expected to contribute to the growth of the display market in
China.
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A few of the key
players in the display market are Samsung Electronics (South Korea), LG Display
(South Korea), Sharp (Foxconn) (Japan), Japan Display (Japan), Innolux
(Taiwan), NEC Corporation (Japan), Panasonic Corporation (Japan), Leyard
Optoelectronic (Planar) (China), BOE Technology (China), AU Optronics (Taiwan),
and Sony (Japan).
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