USD 156.9 billion
Report ID: SQSG45J2035 | Region: Global | Published Date: October, 2022 | Pages: 165 | Tables: 96 | Figures: 76
Display Market size was valued at USD 156.9 billion in 2021 and is poised to grow from USD 168.3 billion in 2022 to USD 297.1 billion by 2030, growing at a CAGR of 7.35% in the forecast period (2023-2030).
Display includes screens that project information such as images, videos, and texts. These display screens utilize numerous technologies such as light-emitting diode (LED), liquid crystal display (LCD), organic light emitting diode (OLED), and others. Also, it is majorly used in consumer electronic devices such as TV, laptops, tablets, laptops, smart watches, and others. The emergence of advanced technologies offers enhanced visualizations in several industry verticals, which include consumer electronics, retail, sports & entertainment, transportation, and others. Surging adoption of OLED displays in various applications, increasing use of LED displays for video wall, TVs, and digital signage applications, growing demand for interactive displays in various applications, and rising demand for display-based medical equipment, including ventilators and respirators, due to COVID-19 pandemic are the key driving factors for the market.
US Display Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 156.9 billion
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The Global Display Market is segmented based on Technology, Type, Product and Region. Based on Technology Display Market is categorized into LCD, OLED, Direct-View LED and Micro-LED. The Display Market segment is bifurcated into Flat Panel, Flexible Panel and Transparent Panel. By Product, the Display Market study is segmented into Smartphones, Smart Wearables, Television, Signage, Tablets, Computers, Vehicle Display and Others. Based on the region Display Market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Display Market Analysis by Technology
Based on Technology, the market is segmented into OLED, LED, Micro-LED, Direct-View LED, LCD, And Others. Over the previous few decades, LCD technology has been widely used in display products. LCD-based devices are currently used in a variety of areas, including retail, corporate offices, and banks. During the forecast period, however, LED technology is expected to grow at a rapid pace. The market for LED technology is being driven by advancements in LED technology and its energy-efficient nature. High competition from newer technologies, a disruption in the supply-demand ratio, and a drop in LCD display panel ASPs are likely to force the LCD display industry into negative growth throughout the projection period.
Display Market Analysis by Type
Based on Type, the market is segmented into Flat Panel Display, Transparent Panel Display, Flexible & Foldable Panel Display, And 3D Display. The Global Display Market is being driven by advancements in flexible displays, an increase in demand for OLED display devices, and a rise in the popularity of touch-based devices. However, the market is hampered by the high cost of new display technologies such as transparent displays and quantum dot screens, as well as the sluggish growth of desktop PCs, notebooks, and tablets. Furthermore, the global display market is likely to benefit from new applications in flexible display technologies, which are expected to generate lucrative growth prospects.
Display Market Analysis by Product
The market for smartphones is expected to hold a major share of the market. This growth will be propelled mainly by the increasing adoption of OLED and flexible displays by smartphone manufacturers. Shipment of high priced flexible OLED displays are increasing at a rapid rate; this trend is expected to continue during the forecast period. The smart wearables segment has emerged as the new growth avenue for the global market. The demand for these devices is increasing rapidly, and with the high adoption of AR/VR technologies, the demand for smart wearables is expected to increase exponentially during the forecast period.
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Asia Pacific is leading the global display market, due to a rise in the number of display panel manufacturing plants and high rate of adoption of OLED displays in the region. Different companies have established their new OLED and LCD panel manufacturing plants in Asia Pacific. The consumer electronics, retail, BFSI, healthcare, transportation, sports & entertainment sectors are expected to fuel the display market in Asia Pacific.
North America is predicted to develop at a healthy rate in terms of revenue over the projection period. Because of their high disposable income, consumers are adopting technologically improved electronic products, which is driving market expansion.
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Display Market Driver
Display Market Restraint
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The Smartphone Market is highly competitive, with the presence of large number of players in both domestic and international markets. The industry's top players are embracing strategic collaboration initiatives to improve market share and profitability. Some of the major players in the market are Samsung Electronics, LG Display, BOE Technology, AU Optronics, Hannstar Display Corporation, Panasonic Corporation, Japan Display Inc., Sharp Corporation and Innolux are among the major contributors in the display market.
Display Market Top Player’s Company Profiles
Display Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the growing demand for OLED-based products and technological advancements and the development of smart wearable devices drives the product market. Higher cost involved in manufacturing the display panel is considered to be the major restraint for the market.
|Market size value in 2021||USD 156.9 billion|
|Market size value in 2030||USD 168.3 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
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For the Global Display Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Display Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Display Market:
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