The global display market is driven by factors such as rise in demand for OLED and interactive display devices, and the growing trend of touch-based devices.
WILMINGTON, Del., Oct. 23, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Display Market by Display Type, Technology, Application, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2022-2032″. According to the report, the global display market was valued at $124.1 billion in 2022 and is estimated to reach $242.1 billion by 2032, exhibiting a CAGR of 6.8% from 2023 to 2032.
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A display consists of multiple layers of material that together offer the structure required to render an image onto the screen. The emergence of various advanced technologies such as OLED display is helping the display industry to evolve faster than ever.
Prime determinants of growth
The global display market is driven by factors such as the emergence of advanced technologies offers enhanced visualizations in several industry verticals, which include consumer electronics, retail, sports & entertainment, and transportation. 3D displays are a trend in consumer electronics and entertainment sectors. In addition, flexible display technologies witness popularity at a high pace. Moreover, display technologies such as organic light-emitting diode (OLED) have gained increased importance in products such as televisions, smart wearables, smartphones, and other devices provide lucrative opportunities for market growth.
Report Coverage and Details:
Opportunities
|
Report Coverage |
Details |
|
Forecast Period |
2022–2032 |
|
Base Year |
2022 |
|
Market Size in 2022 |
$124.1 billion |
|
Market Size in 2032 |
$242.1billion |
|
CAGR |
6.8 % |
|
No. of Pages in Report |
346 |
|
Segments Covered |
Display Type, Technology, Application, Industry Vertical, and Region. |
|
Drivers |
High demand for flexible display technology in consumer electronics devices |
|
Surge in adoption of LED displays for digital signage, TVs, and video wall applications |
|
|
Rise in trend of touch-based devices |
|
|
Opportunities |
Growth adoption of AR/VR devices and commercialization of autonomous vehicles |
|
Restraints |
High cost of the transparent and quantum dot display technologies |
|
Owing to drastic shift toward online advertisement and shopping hamper the growth of displays in retail sector |
The Flat Panel display segment to maintain its leadership status throughout the forecast period
Based on display type, the flat panel display segment held the highest market share in 2022, accounting for more than two-thirds of the global display industry revenue and is estimated to maintain its leadership status throughout the forecast period. Flat panel displays are gaining popularity in a variety of applications, particularly in the retail sector. The retail sector is having significant demand for liquid crystal display and plasma display panel technologies to be utilized in flat digital signage.
The LCD segment to maintain its leadership status throughout the forecast period
Based on technology, the LCD segment held the highest market share in 2022, accounting for around three-fifths of the global display market and is estimated to maintain its leadership status throughout the forecast period. Growing production of electronic devices such as computer monitors, aircraft cockpit displays, instrument panels, outdoor signage, indoor signage, and LCD televisions is responsible for the increasing demand for the LCD display. However, the OLED segment is projected to manifest the highest CAGR of 8.86% from 2023 to 2032.
The Consumer Electronics segment to maintain its leadership status throughout the forecast period
Based on industry vertical, the consumer electronics segment held the highest market share in 2022, accounting for around one-third of the global display market and is estimated to maintain its leadership status throughout the forecast period. However, the automotive segment is projected to manifest the highest CAGR of 9.88% from 2023 to 2032, rise in demand for consumer electronics boosts the adoption of display technology, which fuels the growth of the market. Technological advancements, expansion of the consumer electronics industry, and increasing applications across different end-use segments are expected to drive the global market growth.
Asia-Pacific to maintain its dominance by 2032
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global wire and cable market revenue and is likely to dominate the market during the forecast period. This region also held the major CAGR of 7.34% in 2031. The surge in demand for interactive display, video walls, and touchscreen technology in this region is expected to boost the market. Interactive touch screen is a leading technology in every region that delivers versatility for retail POS system and provides high intuitive touch experience.
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Leading Market Players:
- BOE Technology Group Co., Ltd.
- Samsung Electronics Co Ltd.
- Innolux Corporation
- Panasonic Corporation
- Japan Display Inc.
- AUO Corporation
- Sharp Corporation
- Sony Corporation
- NEC Corporation
- Leyard Optoelectronic Co., Ltd.
- LG Display Co Ltd.
The report provides a detailed analysis of these key players in the global display market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Key Benefits For Stakeholders:
- This study comprises an analytical depiction of the display market size along with the current trends and future estimations to depict the imminent investment pockets.
- The overall display market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The display market forecast is quantitatively analyzed from 2022 to 2031 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the display market.
- The report includes the share of key vendors and market trends.
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