Austin, Aug. 14, 2024 (GLOBE NEWSWIRE) -- The Display Technology Market Share was valued at USD 159.2 Billion in 2023 and is projected to reach USD 215.09 Billion by 2032, growing at a compound annual growth rate (CAGR) of 3.4% from 2024 to 2032.
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Key Players
- Leyard Optoelectronic Co., Ltd
- AUO Corporation
- Sharp Corporation
- Innolux Corporation
- Japan Display Inc
- Panasonic Corporation
- Sony Corporation
- NEC CORPORATION
- Samsung Electronics Co Ltd
- BOE Technology Group Co., Ltd.
- LG Display Co Ltd
Display Technology Market Report Key Highlights:
- Flat panel displays are leading the industry with huge market share owing to their wide acceptance in consumer electronics.
- LCD technology continues to capture the largest revenues, due to its maturity and lower cost.
- Televisions and digital signage have traditionally been the primary drivers of display demand
- Consumer electronics continues to be the largest market of display.
- Asia Paicifc leads in display manufacturing and is also the largest market for displays.
Market Report Scope:
The display technology market is witnessing significant progress from the technological innovations and adoptions to consumer behavior trends. It will be largely driven by OLED technology, as seen with Samsung's 2024 Odyssey monitors and an expected LTPO OLED display in the upcoming Apple Watch. These displays are known for the image quality as well as the flexibility and energy saving capabilities of their technology. In addition, growth in the market is further supported by proliferation of displays across an array of applications including smartphones to automobiles.
Another significant example is the automotive industry, moving towards complex navigation and safety display for advanced driver-assistance systems. The display technology market is expanding rapidly, driven by increasing demand from consumers for a more immersive visual experience.
With the aid of current technology enhancements, engineers and designers have developed new displays which are thinner with more resolution and even less power consumption. Additionally, the existing proliferation of energy-efficient as well as sustainable display technological solutions and rising regulations favoring cases related to betterment in conservation of energy is presumed to further stimulate market development.
Display Technology Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 159.2 Billion |
| Market Size by 2032 | USD 215.09 Billion |
| CAGR | 3.4% |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Growth Drivers |
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The Display Industry Is Growing Faster Due To The Automotive And Smartphone Markets
For instance, the automotive industry's shift towards electric and autonomous vehicles has accelerated the demand for advanced displays. Tesla's large, high-resolution touchscreens and Mercedes-Benz's MBUX infotainment system are prime examples of this trend. These displays serve as the primary interface for vehicle control, navigation, and entertainment, driving significant growth in the market.
At the same time, AMOLED displays are also growing in importance for smartphone manufacturers. Samsung's AMOLED technology (and some of Apple iPhone series) have entrenched with its vivid colors, deep blacks and power-saving advantages as the common standard in Galaxy S series. Moreover, rising inclination towards bezel-less and foldable smartphones is contributing to the demand for flexible AMOLED displays. For instance, Samsung's continuous development of foldable smartphones demonstrate wide application status and leading place in the world has led to technological innovation and investment throughout the display industry.
Display Represents A Fragmented Market With Wide Diverse Technologies & Applications Following Different Growth Paths
Aesthetically OLED technology (and processing) is slowly becoming more dominant partly because of its best-in-breed picture quality and also due to energy saving benefits as well design flexibility. Big names such as Samsung are pouring billions into OLED R&D, hoping to go beyond smartphones and put that flexible tech in laptops, tablets and maybe even rollable TVs.
In terms of display types, flat panels are domiant, as they have found tremendous acceptance in consumer electronics. While these applications may be niche, they are the kind of form factors that have been demonstrated in flexible and transparent displays.
Smartphones and tablets are still the largest segments on the application front too, as screen sizes keep trickling up in size with increasing resolutions. It also contributes to the growth by accelerating display solutions for advanced driver assistance systems and in-car entertainment solution among others under automotive industry.
The end-users such as healthcare, consumer electronics are the major contributors for display industry but it is also seeking opportunities in various applications like retail sector and BFSI. Verticals by this market have been covered under IT & Telecommunication, Automotive, Consumer Electronics and Industrial. For more information visit our website now!
Asia Pacific Dominates The Display Market As Both A Manufacturing Hub And A Major Consumer Market
The region houses key players like Samsung, LG, and Sony, driving innovation and production. With rapid technological advancements and increasing consumer demand for larger, higher-quality screens, Asia Pacific has become a focal point for the display industry.
Companies are capitalizing on these trends. For instance, LG's focus on OLED TVs aligns with the growing preference for premium viewing experiences, while Samsung's introduction of modular MicroLED displays showcases the region's leadership in display innovation. These developments underscore Asia Pacific's pivotal role in shaping the future of display technology.
Latest Innovations in Display Technology
- HTC's U23 Pro, launched in May 2023, showcases the integration of OLED technology in the smartphone segment, offering users a vibrant visual experience coupled with robust 5G capabilities.
- Lenovo's foray into the dual-screen OLED laptop market with the Yoga Book 9i, unveiled in January 2023, exemplifies the expanding horizons of display technology, catering to the needs of professionals seeking portable yet powerful computing solutions.
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Key Takeaways For Stakeholders:
- Comprehensive analysis of market trends and future growth prospects in the display technology market.
- Insights into the technologies driving market growth, including OLED, AMOLED, and flexible displays.
- Assessment of the competitive landscape, including key players and their strategies.
- Identification of emerging opportunities in sectors like automotive, healthcare, and consumer electronics.
- Regional analysis highlighting Asia Pacific's dominance and its impact on global market dynamics.
Table of Contents – Major Key Points
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1Wafer Production Volumes, by Region (2023)
5.2Chip Design Trends (Historic and Future)
5.3 Fab Capacity Utilization (2023)
5.4 Supply Chain Metrics
6. Competitive Landscape
6.1 List of Major Companies, By Region
6.2 Market Share Analysis, By Region
6.3 Product Benchmarking
6.3.1 Product specifications and features
6.3.2 Pricing
6.4 Strategic Initiatives
6.4.1 Marketing and promotional activities
6.4.2 Distribution and supply chain strategies
6.4.3 Expansion plans and new product launches
6.4.4 Strategic partnerships and collaborations
6.5 Technological Advancements
6.6 Market Positioning and Branding
7. Display Technology Market Segmentation, By Display Type
- Flat Panel Display
- Flexible Panel Display
- Transparent Panel Display
8. Display Technology Market Segmentation, By Technology
- OLED
- Quantum Dot
- LED
- LCD
- E-Paper
- Others
9. Display Technology Market Segmentation, By Application
- Vehicle Display
- Smartphone And Tablet
- Smart Wearable
- Television And Digital Signage
- Pc And Laptop
- Others
10. Display Technology Market Segmentation, By Industry Vertical
- Healthcare
- Consumer Electronics
- BFSI
- Retail
- Military And Defense
- Automotive
- Others
11. Regional Analysis
12. Company Profiles
13. Competitive Landscape
14. Use Case and Best Practices
15. Conclusion
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