Display Panels Are Being Used As Digital Signage In A Number Of Industries, Including Sports, Media, And Entertainment.
The global display panel market size is expected to reach USD 163.88 Billion in 2030 and register a revenue CAGR of 10.3% over the forecast period, according to latest report by Reports and Data. A growing consumer base for smart appliances and rise in consumer demand for quality display panels are driving revenue growth of the display panel market.
The global display panel
market is being driven by a number of factors, such as consumer demand for
large LCD televisions, increase in smartphone screen size, and development of
vehicle display. Moreover, introduction of ultra-thin LCD televisions,
high-resolution & slim smartphone designs, and improved user interface
& touch screens for car display are driving demand for display panels.
The new trend of foldable
display panels has become popular in tablets, smartphones, and notebooks, and
they are made from flexible substrates, such as plastic, metal, or flexible
glass, which allow them to bend. Plastic and metal panels are light, thin, and
sturdy, and are nearly shatterproof. Flexible display technology, which is
based on OLED panels, is used to make foldable phones, and there is mass
production of flexible OLED display panels for smartphones, televisions, and
smartwatches by companies, such as Samsung and LG, to meet customer demand.
Display panels are witnessing
surge in demand due to rising trend of downsizing the parts required to produce
an LED screen. LED screens have not only become ultra-thin but have also grown
in size due to miniaturization of internal parts, which allow them to be placed
on any surface, inside or out. Applications of LED have grown in recent years
due to technological developments, such as improved resolution, increased
brightness, product diversity, and introduction of small and hardened surface
LEDs. LED displays have also found applications in digital signage, such as
advertising and digital billboards, which help businesses to stand out.
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Some Key
Highlights from the Report
- In July 2021, The TCL Group announced a finalized
plan to set up their handset and television display panel manufacturing
unit in Andhra Pradesh, India. It would be the second-largest unit of
handset display assembly in India after Samsung, with a workforce of
roughly 1000 people. TCL's 280,000-square-meter factory in Tirupati is the
company's largest out-of-home market investment to date.
- LCD segment accounted for largest revenue share
in 2021. New developments in the LCD technology are allowing to make
displays three to four times sharper and better. Higher resolution LCDs
are being used in Virtual Reality (VR), and LCD-based devices are
currently used in a variety of areas, including retail, corporate offices,
and banks. High competition from newer technologies, disruption in
the supply-demand ratio, and drop in average selling prices of LCD display
panels are expected to drive growth of the segment.
- Asia-Pacific market is expected to register a
rapid revenue growth rate during the forecast period. Factors driving
market growth in Asia-Pacific include increasing number of display panel
manufacturing plants in the region and rapid adoption of OLED displays.
Display panel manufacturing costs are lower in the region due to low labor
costs, which is encouraging several companies to establish their new OLED
and LCD panel manufacturing facilities in Asia-Pacific. Consumer
electronics, retail, BFSI, healthcare, transportation, and sports &
entertainment sectors are all expected to play a significant role in
display panel market growth in APAC.
- Companies profiled in the global market report include LG Display
Co. Ltd., Samsung Electronics Co. Ltd., Innolux Corporation, AU Optronics
Corporation, Sharp Corporation, Japan Display Inc., BOE Technology Group
Co. Ltd., Panasonic Corporation, HannStar, and Chunghwa Picture Tubes Ltd.
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For
this report, Reports and Data has segmented the global display panel market
based on application, panel resolution, panel size, display type, end-use, and
region:
Application
Outlook (Revenue, USD Billion; 2019–2030)
- Smartphones
- Television Sets
- PC Monitors and Laptops
- Tablets
- Smart Appliances
Panel Resolution
Outlook (Revenue, USD Billion; 2019–2030)
- 8K
- 4K
- FHD
- HD
Panel Size Outlook
(Revenue, USD Billion; 2019–2030)
- Micro
- Small and Medium-sized
- Large
Display Type Outlook
(Revenue, USD Billion; 2019–2030)
- LCD
- OLED
- Micro-LED
End-use Outlook (Revenue, USD Billion;
2019–2030)
- Consumers
- Education
- Automotive
- Others
Regional Outlook
(Revenue, USD Billion; 2019–2030)
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
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statistical study of this market on the basis of market drivers, limitations
and its future prospects.
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