DUBLIN--(BUSINESS WIRE)--The "Display Market by Product (Smartphone, Wearables, Television, Automotive, Signage), Technology (LCD, OLED, Direct-View LED, Micro-LED), Panel Size (Micro, Small, Medium, Large), Industry, and Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The display panel market is expected to grow from USD 137.7 billion in 2019 to USD 167.7 billion by 2024, at a CAGR of 4% from 2019 to 2024.
Growing adoption of OLED displays in smartphones; huge investments toward, along with government support for, construction of new OLED and LCD panel manufacturing facilities; and increasing demand for 4K and 8K displays with the availability of UHD content are the major driving factors for the market's growth during the forecast period.
Factors like increasing deployment of HUD, central stack display, and instrument cluster in automotive vehicles; and rising focus toward technological shift and development of energy-efficient, attractive, and high-end-specification display products are also contributing significantly toward the display panel market's growth.
Saturated shipment of display panels for TVs, tablets, and monitors is expected to hamper the display panel market's growth during the forecast period. Fluctuating average selling price (ASP) of display panels; complex supply chain and manufacturing processes; and high costs associated with new display technology-based products are the major challenges faced by display panel manufacturers.
Microdisplays to grow at highest CAGR during forecast period
The display panel market for microdisplay panels is expected to grow at the highest CAGR during the forecast period. Microdisplays are incorporated into various products such as HMDs, cameras/EVFs, projectors, and automotive HUDs.
The increasing use of AR glasses in industrial and enterprise industries for providing on-the-job training to field workers, warehouse management, and maintenance and inspection activities creates significant demand for HMDs. With high AR HMD shipment growth, the microdisplay market is expected to grow tremendously, registering the highest CAGR during the forecast period.
Also, development of microdisplays for VR HMDs provides significant opportunities to players in the microdisplay market. Major microdisplay panel manufacturers such as Sony, Epson, eMagin, and Kopin are expected to drive the display market for microdisplays during the forecast period.
OLED segment to propel growth of global display panel market during forecast period
OLED technology is penetrating the display panel market, finding an expanding application scope in products such as TVs, smartphones, and smart wearables. Using OLED panels in smartphones enables highly bright screens, low-power consumption, and thin and lightweight form factor. With Apple's adoption of AMOLED displays in its smartphones, the market had witnessed exponential growth during 2017 and 2018, and the trend is expected to continue during the forecast period.
LG Display emerged as the key producer of OLED panels for televisions utilizing WOLED technology. Television vendors like LG Electronics, Panasonic, Sony, Hisense, Toshiba, Changhong, Skyworth, Konka Group, Haier, KTC Technology, Loewe, Philips (TPVision), Bang & Olufsen, and Grundig have had OLED televisions in the market by the end of 2018.
Market Dynamics
Drivers
- Growing Adoption of OLED Displays in Smartphones and High Demand for Flexible Display Panels
- Huge Investments Toward, Along with Government Support for, Construction of New OLED and LCD Panel Manufacturing Facilities
- Increasing Demand for 4K & 8K Displays With the Availability of UHD Content
- Growth in Automotive Displays: HUD, Central Stack Display, and Instrument Cluster
- Technological Shift and Development of Energy-Efficient, Attractive, and High-End-Specification Display Product
Restraints
- Saturated Growth and Declining Shipment of Display Panels for TVS, Tablets, and Monitors
- Deployment of Widescreen Alternatives, Such as Projectors and Screen-less Displays
Opportunities
- Emerging Use Cases: Smart Display, Smart Mirror, Smart Home Appliances
- Emerging Display Technologies: Micro-LED and True Quantum Dot
- Growth in Smart Wearable Display Market: AR/VR HMDS and Smartwatches
- Growing Number of Vendors Adopting OLED Display Panels for Televisions
Challenges
- Fluctuating Average Selling Price of Display Panels
- Complex Supply Chain and Manufacturing Processes
- High Costs Associated With New Display Technology-Based Products
Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
6.1 Introduction
6.2 Value Chain Analysis
6.3 Emerging Display Technologies
6.4 Key Trends
6.5 Emerging Use-Cases
7 Display Panel Market, By Product
7.1 Introduction
7.2 Smartphone
7.3 Television
7.4 PC Monitor & Laptop
7.5 Large Format/Professional Display (Digital Signage)
7.6 Automotive Display
7.7 Tablet
7.8 Smart Wearables
7.9 Others
8 Display Panel Market, By Display Technology
8.1 Introduction
8.2 LCD
8.3 OLED
8.4 Micro-LED
8.5 Direct-View LED
8.6 Others
9 Display Panel Market, By Panel Size
9.1 Introduction
9.2 Microdisplays
9.3 Small- & Medium-Sized Panels
9.4 Large-Sized Panels
10 Display Panel Market, By Industry
10.1 Introduction
10.2 Consumer
10.3 Automotive
10.4 Sports & Entertainment
10.5 Transportation
10.6 Retail, Hospitality, and BFSI
10.7 Industrial & Enterprise
10.8 Education
10.9 Healthcare
10.10 Military, Defense, and Aerospace
10.11 Others
11 Geographic Analysis
12 Competitive Landscape
12.1 Overview
12.2 Player Share Analysis: Display Panel Market
12.3 Competitive Leadership Mapping
12.4 Competitive Benchmarking: Display Panel Market
12.5 Competitive Situations and Trends
13 Company Profiles
Key Players
- Samsung Electronics
- LG Display
- BOE Technology
- AU Optronics (AUO)
- Innolux Corporation
- Japan Display (JDI)
- Sharp (Foxconn)
- China Star Optoelectronics Technology (CSOT) (CDOT) (TCL)
- Tianma Microelectronics
-
Truly International
Other Players
- Chunghwa Picture Tubes (CPT) (Tatung)
- Hannstar Display
- CEC Panda
-
BOE Varitronix
Key Innovators
- Apple (Luxvue)
- Sony
- E Ink Holdings
- Universal Display Corp. (UDC)
- Joled
- Emagin Corporation
- Kopin Corporation
For more information about this report visit https://www.researchandmarkets.com/research/v7xlp7/worldwide?w=4
