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.
A display is an output
device that is used to represent information-textual, pictorial, or graphical.
Display panels are used in devices such as television sets, PCs, notebooks, and
smartphones. Display panels use various technologies such as liquid crystal
display (LCD), organic light-emitting diode (OLED), direct-view LED, micro-LED,
and quantum dot display, and others, which mainly include e-paper displays,
liquid crystal on silicon (LCOS), digital light processing (DLP), and
projection cubes. Display panels are mainly available in three distinct sizes,
namely, microdisplays, small & medium- sized panels, and large panels.
A display is a device
designed to help users with access to information for wayfinding,
self-check-in, product availability at a department store, and patient details.
Thus, displays act as dynamic information-sharing devices in various sectors,
including retail, transportation, healthcare, and education. Displays are an
integral part of restaurants, hospitality facilities, medical centers, or the
service industry's point-of-sale systems. The market for displays is
diversified, with numerous companies competing across the value chain to
strengthen their position in the market and simultaneously increase their
market share.
Surging adoption OLED
displays in various applications, increasing demand for displays in the
automotive and healthcare industries, increasing use of LED displays video
walls, TVs, and digital signage applications, and growing demand for
interactive displays in various applications are the major factors driving the
market growth. Moreover, increasing adoption of flexible and foldable displays,
especially rapid adoption pace due to introduction of 5G, and ramping use cases
of displays can provide profitable growth opportunities for manufacturers.
Also, as the latest display technologies sit as micro-LED, quantum dot display
and mini-LED Further growth opportunities are expected for players in the
display market. However, a decline in demand for displays in the retail sector
due to a drastic shift toward online advertisement and shopping, and deployment
of widescreen alternatives such as projectors and screenless displays are
expected to dampen the market growth. Furthermore, high costs associated with
industrial displays and technological obsolescence are some of the major
challenges faced by market players.
Driver: Robust
application of displays in automotive and healthcare industries
The automotive industry
is in the process of transformation considering that the emphasis is now placed
not on the construction of simple automobiles with elemental options but rather
on developing vehicles that integrate the latest technologies with the demands
for driving safety, comfort, and comfort for individuals riding inside
automobiles. That is why there has been a need to demand for automotive
displays. These displays are vital for numerous applications, including
presenting real-time data to drivers and passengers, as well as allowing them
to manage and communicate with specific functionalities of the vehicle, which
enhances their overall driving experience. For instance, OLED displays are
slowly finding its way into many automobiles due to the fact that such
technology makes use of deep black and bright colors with little power utilized
as compared to the LCDs. Currently touch screens are incorporated on center
stack or center console, instrument cluster, head units or head up displays,
rear Seat Entertainment Systems among others. Therefore, the market for
automotive displays is expected to expand further as car makers remain
committed to adopting these technologies as add-on features or as basic
infotainment systems in their automobiles while consumers remain willing to
purchase automobiles equipped with integrated technologies such as display
screens.
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Restraint: Decline in
demand for displays in retail sector due to drastic shift towards online
advertisement and shopping
The industry of
Electronic Commerce has steadily grown in the recent past years with millions
of people participating in online shopping. The consumers initially were a
little skeptical about the mode of shopping due to security purposes but now
they are comfortable to shop online because of the services that are provided
by the e-commerce sites such as faster delivery systems, rental policy and free
shipping. It has been particularly prominent in the retail industry through the
increase of online sales, thereby this trend has adversely affected the
physical outlets in the retail business due to a rise in acceleration of online
sales.
Opportunity: Increasing
adoption of AMOLED displays, especially post 5G rollout
Various smartphone
makers are opting for AMOLED panels, which could result in the growth of the
percentage of AMOLED screened smartphones. Several Chinese honors such as
Huawei, OPPO, Vivo, and Xiaomi have also embraced OLED panels in mid-ranges to
create a distinction for their products, boosting the AMOLED smartphones
market. Second, the latest price drop of AMOLED display panels is another major
factor for wider adaptation of the product.
Challenge: High costs
associated with new display technology-based products
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