What is the global market size of Display Market?

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).

Who are the key vendors in the Global Display Market?

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. 'Samsung Electronics Co., Ltd.', 'LG Display Co., Ltd.', 'BOE Technology Group Co., Ltd.', 'Innolux Corporation', 'AU Optronics Corp.', 'Japan Display Inc.', 'Sharp Corporation', 'Tianma Microelectronics Co., Ltd.', 'CSOT (China Star Optoelectronics Technology)', 'Visionox Technology, Inc.', 'Everdisplay Optronics Ltd.', 'Truly International Holdings Limited', 'HannStar Display Corporation', 'CPT Technology (Chunghwa Picture Tubes Ltd.)', 'E Ink Holdings Inc.', 'Panasonic Corporation', 'NEC Display Solutions, Ltd.', 'Sony Corporation', 'Koninklijke Philips N.V.', 'Hisense Co., Ltd.'

What is the key driver of Global Display Market?

The increase in demand for the digitized promotion of products and services for attracting attention of the target audience acts as one of the major factors driving the growth of display market. The growing demand for OLED-based products and technological advancements and the development of smart wearable devices drives the market further.

What is the key market trend for Global Display Market?

Foldable displays have been gaining popularity in tablets, smartphones, and notebooks for the last few years. Increase in adoption of OLED and flexible displays by smartphone manufacturers is further boosting the global display market

Which region accounted for the largest share in Global Display Market?

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.

Global Display Market Size, Share, Growth Analysis, By Display Technology(Liquid Crystal Display (LCD), Organic Light-Emitting Diode (OLED)), By Connectivity Type(Flat Panel, Flexible Panel), By Product(Smartphones, Smart Wearables), By Panel Size(Micro displays, Small & Medium-sized Panels), By End User(Healthcare, Consumer Electronics) - Industry Forecast 2024-2031

Report ID: SQMIG45B2112 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 154 | Figures: 78

Global Display Market Insights

Global Display Market size was valued at USD 152.46 billion in 2022 and is expected to grow from USD 157.8 Billion in 2023 to reach USD 207.79 Billion by 2031, at a CAGR of 3.5% during the forecast period (2024-2031).

The Global Display Market is a vivid and swiftly changing sector comprising a diverse range of technologies and uses. the development of sophisticated display technologies like OLED, LED, and micro-LED, the market is ready to take off with the ever-increasing trend of high-resolution displays and unforgettable watching experience. A major role of the display market is presenting of diverse visual interfaces for various devices such as smartphones and tablets, screens for TVs, monitors and car displays and making the interaction of users a more fun and interesting experience.

The rapid pace of technological innovations is the key growth determinant for the display market, where consumers continuously demand better visuals and performance in different sectors. Nowadays, consumers are constantly demanding displays with higher resolutions, vibrant colours, and even brighter levels of brightness, which, in turn, forces manufacturers to go creative and produce new cutting-edge display technologies to meet these demands. Furthermore, the development of digital signage solutions for retail, hospitality, and transport sectors is raising market expansion.

The display market bears some disadvantages and obstacles, which are the primary reasons for market restraint. On the contrary, the escalating competition among the display makers is an obvious disadvantage that might result in squeeze in prices and slimming profit margins. In addition, the technical difficulty and the high cost of the production processes of advanced display technologies hinder market expansion to a certain degree. Moreover, e-waste from the operation of the obsolescent displays and the energy consumption of large-scale display instalments are environmental factors that the industry faces in terms of sustainability. However, these obstacles to a display market do not stop it to be a high-growth and innovative industry.

The rising adoption of flexible and foldable display technologies, driven by their applications in smartphones, wearables, and automotive displays, opens new avenues for market expansion. Moreover, the increasing integration of displays in emerging technologies such as augmented reality (AR), virtual reality (VR), and automotive heads-up displays (HUDs) offers promising opportunities for display manufacturers to diversify their product portfolios and tap into new markets.

US Display Market is poised to grow at a sustainable CAGR for the next forecast year.

Global Display Market Report Snapshots

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FAQs

The global display market is highly competitive and dynamic, driven by continuous advancements in technology and changing consumer preferences. Key players in the market include major manufacturers such as Samsung, LG, Sony, and Panasonic, as well as emerging companies from Asia and other regions. These companies are consistently pushing the boundaries of display technology, introducing innovations such as OLED, QLED, and Mini-LED displays, which offer superior picture quality and energy efficiency. Companies are focusing on expanding their product portfolios, improving supply chain management, and investing in research and development to stay ahead in the market. Partnerships and strategic alliances are common as companies seek to leverage complementary strengths and reach new markets. Emerging trends such as the increasing adoption of smart displays and the integration of AI and IoT technologies are likely to shape the future landscape of the global display market. 'Samsung Electronics Co., Ltd.', 'LG Display Co., Ltd.', 'BOE Technology Group Co., Ltd.', 'Innolux Corporation', 'AU Optronics Corp.', 'Japan Display Inc.', 'Sharp Corporation', 'Tianma Microelectronics Co., Ltd.', 'CSOT (China Star Optoelectronics Technology)', 'Visionox Technology, Inc.', 'Everdisplay Optronics Ltd.', 'Truly International Holdings Limited', 'HannStar Display Corporation', 'CPT Technology (Chunghwa Picture Tubes Ltd.)', 'E Ink Holdings Inc.', 'Panasonic Corporation', 'NEC Display Solutions, Ltd.', 'Sony Corporation', 'Koninklijke Philips N.V.', 'Hisense Co., Ltd.'

LED technology is using light emitting diodes as light sources to create lighting, displays, and other more applications. It is employed in various applications that include mobile devices, TVs, video walls, and digital billboards. LED Display has come up as the most used display approach across a variety of applications and enjoys a big slice of the pie as far as other display technologies are concerned. Even though the industry of LED display had gone through the stable development period in the past years, the advancement of innovation still seems to be a very slow process. Nevertheless, not so long ago, the miniaturization of the components needed to create an LED screen was the last of the breakthroughs. This movement had a great impact on the emergence of LED screens that became so thin and expanded to the greatest sizes to make them applicable on any surface and in any place, indoors and outdoors.

Growth of Smart Displays: Smart displays that have voice and touch control are increasingly gaining popularity in household and business environment. Such gadgets provide advanced interactivity and integration with other smart home or IOT devices.

Asia Pacific stands out as a dominating force, commanding a significant share of the industry's growth and innovation. The region's supremacy is driven by several factors, including the presence of key manufacturing hubs, technological advancements, and a burgeoning consumer base with a growing appetite for electronics. Countries like China, South Korea, and Japan are at the forefront of display technology, with leading companies continually pushing the boundaries of innovation in areas such as OLED, LCD, and microLED displays. Additionally, the increasing adoption of smartphones, tablets, and televisions across the Asia Pacific region fuels the demand for high-quality displays, further solidifying its position as a powerhouse in the global market.

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