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“The global display technology market is expected to witness significant growth as the adoption of optimized and advanced solutions continues to increase across various sectors, including automotive, consumer electronics (CE), industrial manufacturing, and healthcare.”
AUSTIN, Aug. 14, 2024 (GLOBE NEWSWIRE) — The display technologies market share is 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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Main characters
Layered Optoelectronics Co., Ltd.
AUO Corporation
Sharp Corporation
Inorx Co., Ltd.
Japan Display Inc.
Panasonic Corporation
Sony Corporation
NEC Corporation
Samsung Electronics Co., Ltd.
BOE Technology Group, Inc.
LG Display Co., Ltd.
Key highlights of the Display Technology Market report:
Flat panel displays have been widely adopted in consumer electronics and lead the industry with a large market share.
LCD technology continues to capture the largest revenues due to its maturity and low cost.
Television and digital signage have traditionally been the main drivers of display demand.
Consumer electronics continues to be the largest market for displays.
Asia Pacific leads the display manufacturing industry and is also the largest market for displays.
Market report scope:
The display technology market is witnessing significant progress, from technological innovation and adoption to consumer behavior trends. Display technology will drive the market, as seen in Samsung's 2024 Odyssey monitor and the LTPO OLED displays that will be featured in the upcoming Apple Watch. These displays are known not only for their image quality but also for their technological flexibility and energy-saving features. Moreover, the widespread adoption of displays in various applications, from smartphones to automobiles, is further fueling the market growth.
Another key example is the automotive industry, which is moving towards complex navigation and safety displays for advanced driver assistance systems. The display technology market is expanding rapidly due to increasing consumer demand for a more immersive visual experience.
With the help of current technological improvements, engineers and designers have developed new displays that are thinner, have higher resolution, and consume even less power. Moreover, the existing prevalence of energy-efficient and sustainable display technology solutions and the strengthening regulations that support the cases related to improved energy savings are expected to further stimulate the market development.
The story continues
Display Technology Market Report Coverage:
Report Attributes
detail
Market size in 2023
$159.2 billion
Market size by 2032
US$215.09 billion
Average annual growth rate
3.4%
Base year
2023
Forecast Period
2024-2032
Historical Data
2020-2022
Main growth drivers
The battle for supremacy in the foldable smartphone market.
The market growth of the OLED display technology industry was driven by the introduction of Apple's iPad.
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Display industry is growing rapidly due to the automotive and smartphone markets
For example, the automotive industry's shift to electric and autonomous vehicles is accelerating 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 market growth.
At the same time, AMOLED displays are also gaining importance for smartphone manufacturers. Samsung's AMOLED technology (and part of the Apple iPhone series) has established itself as the common standard for the Galaxy S series due to the advantages of vivid colors, deep blacks, and power saving. In addition, the growing trend towards bezel-less and foldable smartphones contributes to the demand for flexible AMOLED displays. For example, Samsung's continuous development of foldable smartphones shows its wide application status, and its global leading position has led to technological innovation and investment across the display industry.
Displays represent a fragmented market with diverse technologies and applications following different growth paths.
Aesthetically, OLED technology (and processing) is slowly becoming mainstream due to its best-in-class picture quality, energy-saving benefits, design flexibility, etc. Major companies such as Samsung are pouring billions of dollars into OLED research and development, and hope to move beyond smartphones to bring the flexible technology to laptops, tablets, and even rollable TVs.
In terms of display types, flat panels dominate and have found great acceptance in consumer electronics, and while these applications may be niche, it's a form factor type that's been proven with flexible and transparent displays.
Smartphones and tablets remain the largest segment in terms of applications as their screen sizes continue to increase gradually with improved resolutions, while the automotive industry is also contributing to the growth with accelerating display solutions such as advanced driver assistance systems and in-car entertainment solutions.
The major contributors to the display industry are end users like Healthcare, Consumer Electronics etc., however, it is also exploring opportunities in various applications like Retail sector, BFSI etc. The verticals of this market are covered by IT & Communications, 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
Home to major players such as Samsung, LG and Sony, the region is driving innovation and production. Rapid technological advancements and growing consumer demand for larger, higher quality screens have made Asia Pacific the epicenter of the display industry.
Companies are capitalizing on these trends: LG's focus on OLED TVs, for example, aligns with the growing preference for premium viewing experiences, while Samsung's introduction of modular MicroLED displays demonstrates the region's leadership in display innovation, underscoring the pivotal role that Asia Pacific plays in shaping the future of display technology.
The latest innovations in display technology
HTC's U23 Pro, launched in May 2023, marks the integration of OLED technology in the smartphone field, providing users with a vivid visual experience coupled with powerful 5G capabilities.
Lenovo's entry into the dual-screen OLED laptop market with the Yoga Book 9i, announced in January 2023, demonstrates that it is broadening its horizons in display technology, addressing the needs of professionals seeking portable yet powerful computing solutions.
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Key takeaways for stakeholders:
A 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.
Identifying new opportunities in sectors such as automotive, healthcare and consumer electronics.
Regional analysis highlighting the Asia-Pacific region's dominance and its impact on global market trends.
Table of Contents – Main Points
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusions and Exclusions)
1.3 Research assumptions
2. Overview
2.1 Market Overview
2.2 Regional Overview
2.3 Competition Overview
3. Research Methods
3.1 Top-down approach
3.2 Bottom-up approach
3.3. Data Validation
3.4 First interview
4. Market Trend Impact Analysis
4.1 Market Drivers Analysis
4.1.1 Drivers
4.1.2 Constraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter's Five Forces Model
5. Statistical insights and trend reports
5.1 Wafer production by region (2023)
5.2 Chip design trends (past and future)
5.3 Fab utilization rate (2023)
5.4 Supply Chain Indicators
6. Competitive Environment
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 Price
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 collaboration
6.5 Technological advances
6.6 Market Positioning and Branding
7. Display Technology Market Segmentation (By Display Type)
8. Display Technology Market Segmentation by Technology
Organic EL
Quantum dots
Led
liquid crystal
Electronic Paper
others
9. Display Technology Market Segmentation by Application
10. Display Technology Market Segmentation, By Industry Vertical
health care
Home appliances
United Kingdom
retail
Military and Defense
car
others
11. Regional Analysis
12. Company Profile
13. Competitive Environment
14. Use Cases and Best Practices
15. Conclusion
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