Display Panel Market Size Report and Future Opportunity Assessment 2022-2031

Market Overview

The global display panel market was valued at USD 134.14 billion, and is expected to reach USD 171.93 billion, registering a CAGR of 4.2% during the forecast period. Display panels act as a bridge between consumers and information. Beyond traditional technologies, like television, displays are also prominently utilized in several significant trends, such as automotive, virtual reality, IoT, and connectivity.
The global market for UHD display resolution is gaining momentum, due to the emergence of highly defined pixel quality display monitors. There is an increasing demand for computer and TV displays, with high resolution.
Latest technologies, such as AMOLED displays, are expected to offer superior image quality and form factor advantages in high-end devices. Despite the excessive capacity availability, the challenge to faster adoption would be limited.
TVs are expected to have the highest growth rate over the forecast period, due to the increase in sales of ultra-high-definition and organic light-emitting diodes in developing economies, such as India, Brazil, and China.

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Scope of the Report

Panel displays are electronic viewing technologies used to enable people to see content in a range of entertainment, consumer electronics, personal computer, and mobile devices, and many types of medical, transportation, and industrial equipment.
 

Key Market Trends

Flat Panel Accounted For the Most Significant Form Factor

The rising consumer demand for large LCD televisions, increasing screen size of smartphones, and growth in the development of automotive displays are some of the factors that are driving the demand for flat panel displays.
Major manufacturers are focusing on ultra-slim LCD TVs, high-resolution, slim smartphone designs, and better user interface and touchscreen for automotive display. These factors are emerging as major contributors to the increasing demand for flat panel display.
The increasing usage of flat panels from the education sector, for the adoption of new technologies for classrooms and enhancement of system and infrastructure, are driving the segment’s growth. Further, the increasing adoption of interactive 3D panels from end users is expected to boost the growth of the segment.
It is further estimated that the display sizes of these panels will increase; 70″+ screens are taking over from 60″ and 84″ screens are being replaced with 86″ versions. This shift is majorly driven by the incorporation of more efficient processes that lead to less wastage, while producing more number of panels. Also, bezels are becoming narrower, so the actual visible screen is bigger.

India is Expected to Witness Significant Growth

The consumer spending in India is increasing, due to rising disposable income, due to which the demand for televisions is witnessing a high spike, owing to the rising soccer fan base in India. As a result, the TV makers in India are launching larger screens with advanced technologies, which, in turn, is likely to boost the market growth in the country over the forecast period.
Furthermore, the changing behavior in TV connection is expected to drive the market growth. Subscriptions, such as Netflix and Amazon Prime, have been made available for Smart and Android TVs, owing to which, the demand is gaining high traction, thereby, propelling the market growth.
Owing to the favorable government regulations associated with FDI, foreign companies are regularly offering premium TVs at competitive prices. For instance, in February 2018, Xiaomi launched its 55 inches LED TV, for which the demand spiked among consumers. This is expected to result in ascended demand for a display panel, thereby, fostering the market growth.
This display was first incorporated in a city in Northern India, in a shopping mall. As a result, it is expected to compel other malls to use similar technologies to attract more consumers. This is projected to have a positive impact on the market growth in India over the forecast period.

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