USD 142155 million
Report ID: SQSG45J2037 | Region: Global | Published Date: April, 2023 | Pages: 225 | Tables: 127 | Figures: 68
Global Flat Panel Displays Market size was valued at USD 142155 million in 2021 and is poised to grow from USD 150399.99 million in 2022 to USD 249815.18 million by 2030, growing at a CAGR of 5.8% in the forecast period (2023-2030).
Growing consumption of consumer electronics, high technological advancements, decreasing display prices, and surge in demand through various applications including videogames and entertainment industry are the major factors driving growth of the global flat panel displays market during the forecast period. In addition, growing demand for vehicle display technologies in automotive sector is also likely to propel the market growth at a significant rate in the coming years.
Furthermore, increased adoption of touch displays in the education sector and rising prevalence for OLED displays in various smartphones, laptops, and tablets are further anticipated to contribute to the growth of the global flat panel displays market over the forecast period. In addition, major market players are highly focusing of emerging novel technologies and research & development of new products to cater the demand and changing consumer preferences towards high resolution images. For instance, in July 2021, Samsung Electronics announced the launch of its new commercial microLED displays, in the global market with numerous features. The new product has micro artificial intelligence processor and 40% smaller emitting device as compared to the existing models.
US Flat Panel Displays Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 142155 million
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Global Flat Panel Displays Market is segmented on the basis of technology, application, display size, industry vertical, and region. By technology, the market is segmented into OLED, quantum dot, LED, LCD, and others. By application, the market is categorized into smartphone, television, laptop, vehicle display, and others. By display size, the market is segmented into <10 Inches, 10-20 Inches, 20-30 Inches, 30-40 Inches and >40 Inches. By industry vertical, the market is segmented into healthcare, retail, BFSI, military and defence, automotive and others. By region, the market is divided into North America, Europe, Asia Pacific, Latin America, and MEA.
Flat Panel Displays Market Analysis by Technology
By technology, the LCD segment accounted for the largest market share in 2021. Improved product quality, good picture quality, and wider acceptance in several applications are the major factors projected to drive the growth of the segment during the forecast period. Furthermore, quantum dot technology is helping LCD displays to provide high quality, better colour saturation, and enhanced brightness coupled with the development in virtual reality is expected to fuel the demand and growth of the market over the coming years.
Flat Panel Displays Market Analysis by Application
By application, the television segment held the largest market share in 2021 and is expected to maintain this throughout the forecast period. Large population base, increased popularity of reality shows, and increased consumer disposable income are the major factors propelling the growth of the television segment. Furthermore, high demand for vehicle display, a surge in the number of OLED display in smartphones, rising adoption of advanced touch-based devices are also projected to have a significant growth in the global market in the coming years.
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Globally, North America dominated the Flat Panel Displays Market with a significant market share in 2021 and is set to continue its dominance over the forecast period owing to the early adoption of advanced technology, rising corporate sales, and high income of people in the region. In addition, presence of large market players and their rising investment in research & development sector to improve and enhance their product offering for capturing larger market and strengthen their market position. For instance, LG Business Solution USA, announced the launching of its first ever Health Protocol Solution Series, with an aim of providing real time updates and sanitation procedures including a webOS Signage LG display.
Furthermore, Asia Pacific is anticipated to witness fastest growth rate over the forecast period due to the rise in industrialization, rapid urbanization, and available of raw materials at lower cost in the region. In addition, rising investment by international market players in developing economies such as India, China, and Indonesia because of the high growth opportunities in the region is also driving the growth of the flat panel displays market.
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Flat Panel Displays Market Drivers
Flat Panel Displays Market Restraint
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The global Flat Panel Displays market is highly competitive with the presence of many well-known international companies operating around the globe. The top 5 market players accounted for the largest market share including LG Electronics, Samsung Electronics, and Innolux Corporation. The major market players are implementing on several business strategies such as acquisition, mergers, partnerships, collaborations, and new product launches to strengthen their market position and expand their product portfolio.
Flat Panel Displays Market Top Player’s Company Profiles
Flat Panel Displays 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 utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global flat panel displays market is witnessing a significant growth during the forecast period owing to increased R&D investment, high adoption of premium televisions, and increasing per capita income of global consumers. In addition, change in consumer lifestyles and their preference towards thinner and flat displays for their home and on many other applications also is further anticipated to fuel the demand for the global market. However, high refresh rates, slow response time, and highly expensive than others are the factors expected to hamper the growth of the market during the forecast period.
|Market size value in 2021||USD 142155 million|
|Market size value in 2030||USD 150399.99 million|
|Forecast Unit (Value)||USD Million|
|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 Flat Panel Displays 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 Flat Panel Displays 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.
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