The report "Display Market by Display Technology, Resolution, Panel Size (Micro Display, Small and Medium-sized Panels, Large Panels), Panel Type (Fixed Panel, Flexible Panel), Dimension (2D, 3D), Product, Vertical and Region - Global Forecast to 2029" The display market is expected to reach USD 173.7 billion by 2029 from USD 135.2 billion in 2024, at a CAGR of 5.1 % during the 2024-2029 period. Various companies are investing in display which gives an opportunity for growth in the display market. The display market is continuously developing, with the presence of multiple players. Currently the Asia Pacific region is contributing significantly to the growth of the display market. Similarly, the Europe, North America and RoW regions are expected to be the growing market for the forecasted period.
The consumer electronics
segment currently leads the display market and is expected to have the largest
market share in the forecast period.
The consumer electronics
market has seen a surge in demand for high quality and high-resolution displays
in recent years. Organic light emitting diode OLED and liquid crystal display
LCD dominate the market. Nevertheless, other display technologies such as
micro-LED, quantum dot displays, and mini-LED are gaining popularity due to
their superior picture quality, high contrast ratio, and energy efficiency.
OLED displays are
becoming more popular, especially in the high-end smartphone and TV markets,
because they're thin, flexible, and bright. OLED displays have higher contrast
ratio and viewing angles than LCDs. The high-end TV market is shifting from LCD
technology to LCD due to this change.
LCD displays are a
popular choice for midrange and budget friendly smartphones and TVs because
they are cheap. LCD market is facing challenges due to oversupply and price
competition, leading market players to focus on developing panels using
advanced display technologies such as mini-LEDs and quantum dot displays.
Micro-LED is a new display technology that combines the advantages of OLED
displays and LCD displays, such as high contrast ratio, broad color gamut, and
low power consumption. Micro-LED displays are still being explored by
manufacturers for potential uses, even though they are still in their early
stages and cost. Micro-LED is to make big strides in the display industry and
will be used in a range of applications including smartphones, TVs, and
wearables.
Consumer electronics and
displays are poised to thrive in the upcoming years, with the growing demand
for high-quality displays in a variety of devices. Smartphones, TVs, and smart
wearables, like smartwatches and VR HMDs, are expected to be the main drivers
of this growth. The demand for larger and higher resolution displays is
expected to increase, driven by the increasing popularity of advanced display
technologies like quantum dots, micro-LED, and mini-LED. Display is expected to
remain fiercely competitive as manufacturers continue to innovate and
commercialize new technologies that meet the evolving needs of consumers.
LCD display technology
is predicted to have the largest market share in the forecast period.
Liquid crystal display
technology is widely used in modern display devices such as televisions,
computer monitors and smartphones. An LCD is a liquid crystal that has been
electronically modified to pass or block light. The lens is comprised between
two flexible electrodes and two polarizing filters, and the alignment of the
lenses determines how much light passes through the display, three subpixels
are used on LCD displays to create colors, each with a color special
filter—red, green, and deep. By changing the intensity of each subpixel, the
display can produce millions of colors.
LCD technology replaced
numerous technologies, along with cathode ray tube (CRT) and plasma shows. LCDs
are thinner, lighter, and consume less strength. Additionally, it also
presented better resolution, coloration accuracy, and viewing enjoyment as compared
to in advance show technologies.
LCD technology includes
advances in Twisted Nematic (TN) displays, which offer faster response times
and periodic power consumption to date limited viewing angles Past switching
(IPS) displays with a wider and more colorful view more accurate than TN specification.
Vertical alignment (VA) provides high comparison ratios but can be afflicted by
gradual reaction times. Additionally, superior fringe subject switching (AFFS)
technology has been evolved for progressed coloration replica, and LED
backlighting has been introduced for higher brightness and decreased strength
consumption. These advancements have made LCD generation appropriate to be used
in a wide range of devices, which include smartphones, televisions, and
computer video display units.
Display market for the
Asia Pacific region is predicted to have the highest market share between 2024
and 2029 forecast.
Asia Pacific has emerged
as an attractive market for manufacturers of smartphones, tablets, laptops, and
televisions. Asia Pacific is the key consumer and producer of display panels.
The display devices advancement at an unpredictable pace and the new technology
is being rapidly adopted in Asia Pacific region. Some of the key companies in
Asia Pacific region include SAMSUNG DISPLAY, LG Display Co., Ltd., Sharp
Corporation, BOE Technology Group Co., Ltd., Sony Group Corporation, TCL China
Star Optoelectronics Technology Co., Ltd., and many others.
The region's low labor
costs have played a critical role in attracting companies to establish their
OLED and LCD panel manufacturing units in the Asia Pacific area. The retail,
consumer electronics, healthcare, automotive, defense, transportation, and sports
& entertainment industries are expected to contribute significantly to the
growth of the display market in Asia Pacific. The rapid adoption of display
devices in different sectors, particularly in Japan, South Korea, China and
India, is a key driver for market growth in the region.
Key Players
The major players in
display market include SAMSUNG DISPLAY (Republic of Korea), LG Display Co.,
Ltd., (South Korea), Sharp Corporation (Japan), BOE Technology Group Co., Ltd.
(China), Innolux Corporation (Taiwan), AUO Corporation (Taiwan), Sony Group Corporation
(Japan), Qisda Corporation (Taiwan), TCL China Star Optoelectronics Technology
Co., Ltd. (China), LEYARD (China), E INK HOLDINGS INC., (Taiwan), Tianma
Microelectronics Co., Ltd. (China), Universal Display (US), TRULY INTERNATIONAL
HOLDINGS LIMITED (Netherlands), Panasonic Holdings Corporation (Japan),
HannStar (Taiwan), eMagin (US), Kopin Corporation (US), NORITAKE ITRON CORP.
(Japan), Japan Display Inc. (Japan), JOLED Inc. (Japan), Elux, Inc. (US),
Visionox Company (China), Winstar Display Co., Ltd. (Taiwan), and WiseChip
Semiconductor Inc. (Taiwan).
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