Display Market by Display Technology, Panel Type (Fixed Panel, Flexible Panel) - 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.

Aerospace and Defense is expected to grow at the highest CAGR during the forecast period.

Display technology became more important in the aerospace and defense industries due to the demand for advanced visualization systems in applications areas such as mission control centers, aircraft cockpits, and navigation systems. The need for high-resolution displays with features such as ruggedness, touchscreen interfaces, and night vision compatibility is driving the growth of the display market in this sector.

Focusing on developing reliable and robust displays that could withstand extreme conditions for instance Head up display (HUDs) are used to display vital flight information from pilot mental multiple flight function displays (MFDs) for pilot maps and flight plans. It provides various information, including engine performance data. Companies such as Spectra Aerospace and Defense provide advanced display systems for military aircraft; Collins Aerospace, a subsidiary of Raytheon Technologies, offers a range of cockpit display systems for commercial and military aircraft. Therefore, constant innovations and increasing investments in defense and aerospace verticals are driving the demand for new technologically advanced displays.

Asia Pacific region is projected to grow at the highest CAGR during the forecast period from 2024-2029.

Asia Pacific is a key producer and consumer of display panels. With the market for display devices advancing at an unprecedented pace and new technologies being rapidly adopted, Asia Pacific has emerged as an attractive market for manufacturers of smartphones, tablets, laptops, and televisions. Some of the major consumer electronics companies in the region are Samsung Electronics, LG Electronics, SONY, Sharp Corporation, and Panasonic, as well as display panel manufacturers like Samsung Display, LG DISPLAY CO., LTD., AUO Corporation, Japan Display Inc., and Sharp Corporation, are based in the region, with their manufacturing facilities spread across various countries.

The region's low labor costs have played a crucial role in attracting companies to establish their OLED and LCD panel manufacturing plants in the area. The consumer electronics, retail, BFSI, healthcare, 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 China, India, and South Korea, is a key driver for market growth in the region.

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Key Market Players

The major players in the display companies with a significant global presence includes 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-Link Holdings Co., Ltd. (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).