09.12.18
The global display market was valued at $115.60 billion in 2017 and is projected to reach $206.29 billion by 2025, registering a CAGR of 7.4% from 2018 to 2025. North America was the highest contributor to the global market, with $45.72 billion in 2017, and is estimated to reach $66.90 billion by 2025, registering a CAGR of 4.7% during the forecast period.
Displays include screens that project information such as images, videos, and texts. These display screens utilize numerous technologies such as light-emitting diode (LED), liquid crystal display (LCD), organic light emitting diode (OLED), and others. Also, it is majorly used in consumer electronic devices such as TV, laptops, tablets, laptops, smart watches, and others. The emergence of advanced technologies offers enhanced visualizations in several industry verticals, which include consumer electronics, retail, sports & entertainment, transportation, and others. The 3D displays are in trend in consumer electronics and entertainment sector. Also, flexible display technologies witness popularity at a high pace. In addition, the display technologies such as organic light-emitting diode (OLED) have gained increased importance in products such as televisions, smart wearables, smartphones, and other devices. Moreover, smartphone manufacturers plan to incorporate flexible OLED displays to attract the consumers. Furthermore, the market is also in the process of producing energy saving devices, primarily in the wearable devices.
Developments in flexible display, increase in demand for OLED display devices, and the rise in trend of touch-based devices drive the growth of the global display market. However, the high cost of the latest display technologies such as transparent display and quantum dot displays, and stagnant growth of desktop PCs, notebook, and tablets hinder the market growth. Furthermore, upcoming applications in the flexible display devices are expected to create lucrative growth opportunities for the global display market.
At present, North America dominates the market, followed by Europe. In 2017, U.S. dominated the North America market and UK led the overall market in Europe. However, in Asia-Pacific, China currently dominates the market.
High demand for flexible display technology in consumer electronic devices, increase in adoption of electronic components in the automotive sector, and the rise in trend of touch-based devices drive the growth of the global display market. In addition, great adoption of AR/VR devices and commercialization of autonomous vehicles is anticipated to provide potential growth opportunities for the market. However, high costs of the transparent and quantum dot display technologies and stagnant growth of desktop PCs, notebook, and tablets restraints the growth of the global display market.
“In 2017, the flat panel segment dominated the global display market in the display type category, in terms of revenue. However, the transparent panel segment is expected to grow at the highest CAGR during the forecast period,” said Akshay Jadhav and Prasad Kakade, lead analysts, semiconductor & electronics at AMR. “By technology, the LCD segment is anticipated to dominate the market throughout the forecast period (2018‐2025). Moreover, the television & digital signage segment dominates the overall display market, in terms of industry vertical. The display market signifies a promising future for the technological industry. The companies have been adopting innovative techniques to provide customers with advanced and innovated product offerings.”
The significant impacting factors in the global display industry include high demand for flexible display technology in consumer electronics devices, increase in adoption of electronic components in the automotive sector, rise in trend of touch-based devices, high cost of the transparent and quantum dot display technologies, stagnant growth of desktop PCs, notebook, and tablets, surge in adoption of AR/VR devices, and commercialization of autonomous vehicles. Each of these factors is anticipated to have a definite impact on the display market during the forecast period.
High Demand for Flexible Display Technology in Consumer Electronic Devices
The flexible display technology offers numerous advantages such as lightweight, flexible nature, bright, consumes low power, and being shatter-proof, over the rigid traditional displays which are relatively heavier. These displays are used in several consumer electronics devices. The rise in demand for consumer electronics mainly smartphones, televisions, smart wearable devices, computers, and other display devices propel the growth of the display market.
Increase in Adoption of Electronic Components in the Automotive Sector
Display devices nowadays have also been integrated into the automotive industry. For instance, looking at this opportunity, LG display announced to start the production of a head-up display system for the automotive industry. The vehicle display device produced by LG is a transparent flexible display, which can be rolled around. The heads-up display can be utilized in several ways and has different functions for an enhanced driving experience.
Rise in Trend of Touch-based Devices
In recent years, the number of devices having touch sensors has increased exponentially as touch-based devices are easier to access. The touch-based devices require a display panel to operate, which in turn helps in the growth of the display devices. Therefore, a wide range of devices in the home appliances category, such as refrigerator, microwave, washing machine, chimneys, and others, are incorporated with displays with touch sensors. In addition, the automobile industry has witnessed a rise in providing sophisticated display devices in the vehicle, such as the navigation system, digital dashboard, digital rearview mirrors, heads-up display, and others. Moreover, the use of digital signage and touch-based displays in commercial buildings such as malls, theaters, entertainment hubs, and others have increased due to the complex and large architecture of these structures. These displays are incorporated with touch sensors, which the user can use for navigating and extracting other information. Hence, the trend of touch-based devices drives the growth of the display market.
Stagnant Growth of Desktop PCs, Notebook, and Tablets
In recent years, the growth of display devices such as PC monitors, notebooks, and tablets has become stagnant. Also, the demand for these devices is expected to be stagnant or low. The use of smartphone devices has increased due to easy functionality and relative convenience, which is similar to notebooks, tablets, and PC monitors. As a result, the demand for display devices exhibits stagnant growth. Thus, the stagnant progress of display devices such as PC monitors, notebook, and tablets, is anticipated to restrict the growth of the global display market.
Great Adoption of AR/VR Devices and Commercialization of Autonomous Vehicles
The current display market is focused on developing the technology and products primarily for large-sized displays and high-resolution images. The display market in future is expected to concentrate on the flexible displays that are thin, light, and less prone to breakage as compared to the conventional displays. Therefore, flexible displays are expected to replace the current display devices as well as create new ones. These display systems are incorporated in the vehicles owing to growth in a trend of autonomous vehicles, and the use of flexible displays in AR/VR devices. These factors are expected to create lucrative growth opportunities in the global display market.
Displays include screens that project information such as images, videos, and texts. These display screens utilize numerous technologies such as light-emitting diode (LED), liquid crystal display (LCD), organic light emitting diode (OLED), and others. Also, it is majorly used in consumer electronic devices such as TV, laptops, tablets, laptops, smart watches, and others. The emergence of advanced technologies offers enhanced visualizations in several industry verticals, which include consumer electronics, retail, sports & entertainment, transportation, and others. The 3D displays are in trend in consumer electronics and entertainment sector. Also, flexible display technologies witness popularity at a high pace. In addition, the display technologies such as organic light-emitting diode (OLED) have gained increased importance in products such as televisions, smart wearables, smartphones, and other devices. Moreover, smartphone manufacturers plan to incorporate flexible OLED displays to attract the consumers. Furthermore, the market is also in the process of producing energy saving devices, primarily in the wearable devices.
Developments in flexible display, increase in demand for OLED display devices, and the rise in trend of touch-based devices drive the growth of the global display market. However, the high cost of the latest display technologies such as transparent display and quantum dot displays, and stagnant growth of desktop PCs, notebook, and tablets hinder the market growth. Furthermore, upcoming applications in the flexible display devices are expected to create lucrative growth opportunities for the global display market.
At present, North America dominates the market, followed by Europe. In 2017, U.S. dominated the North America market and UK led the overall market in Europe. However, in Asia-Pacific, China currently dominates the market.
High demand for flexible display technology in consumer electronic devices, increase in adoption of electronic components in the automotive sector, and the rise in trend of touch-based devices drive the growth of the global display market. In addition, great adoption of AR/VR devices and commercialization of autonomous vehicles is anticipated to provide potential growth opportunities for the market. However, high costs of the transparent and quantum dot display technologies and stagnant growth of desktop PCs, notebook, and tablets restraints the growth of the global display market.
“In 2017, the flat panel segment dominated the global display market in the display type category, in terms of revenue. However, the transparent panel segment is expected to grow at the highest CAGR during the forecast period,” said Akshay Jadhav and Prasad Kakade, lead analysts, semiconductor & electronics at AMR. “By technology, the LCD segment is anticipated to dominate the market throughout the forecast period (2018‐2025). Moreover, the television & digital signage segment dominates the overall display market, in terms of industry vertical. The display market signifies a promising future for the technological industry. The companies have been adopting innovative techniques to provide customers with advanced and innovated product offerings.”
The significant impacting factors in the global display industry include high demand for flexible display technology in consumer electronics devices, increase in adoption of electronic components in the automotive sector, rise in trend of touch-based devices, high cost of the transparent and quantum dot display technologies, stagnant growth of desktop PCs, notebook, and tablets, surge in adoption of AR/VR devices, and commercialization of autonomous vehicles. Each of these factors is anticipated to have a definite impact on the display market during the forecast period.
High Demand for Flexible Display Technology in Consumer Electronic Devices
The flexible display technology offers numerous advantages such as lightweight, flexible nature, bright, consumes low power, and being shatter-proof, over the rigid traditional displays which are relatively heavier. These displays are used in several consumer electronics devices. The rise in demand for consumer electronics mainly smartphones, televisions, smart wearable devices, computers, and other display devices propel the growth of the display market.
Increase in Adoption of Electronic Components in the Automotive Sector
Display devices nowadays have also been integrated into the automotive industry. For instance, looking at this opportunity, LG display announced to start the production of a head-up display system for the automotive industry. The vehicle display device produced by LG is a transparent flexible display, which can be rolled around. The heads-up display can be utilized in several ways and has different functions for an enhanced driving experience.
Rise in Trend of Touch-based Devices
In recent years, the number of devices having touch sensors has increased exponentially as touch-based devices are easier to access. The touch-based devices require a display panel to operate, which in turn helps in the growth of the display devices. Therefore, a wide range of devices in the home appliances category, such as refrigerator, microwave, washing machine, chimneys, and others, are incorporated with displays with touch sensors. In addition, the automobile industry has witnessed a rise in providing sophisticated display devices in the vehicle, such as the navigation system, digital dashboard, digital rearview mirrors, heads-up display, and others. Moreover, the use of digital signage and touch-based displays in commercial buildings such as malls, theaters, entertainment hubs, and others have increased due to the complex and large architecture of these structures. These displays are incorporated with touch sensors, which the user can use for navigating and extracting other information. Hence, the trend of touch-based devices drives the growth of the display market.
Stagnant Growth of Desktop PCs, Notebook, and Tablets
In recent years, the growth of display devices such as PC monitors, notebooks, and tablets has become stagnant. Also, the demand for these devices is expected to be stagnant or low. The use of smartphone devices has increased due to easy functionality and relative convenience, which is similar to notebooks, tablets, and PC monitors. As a result, the demand for display devices exhibits stagnant growth. Thus, the stagnant progress of display devices such as PC monitors, notebook, and tablets, is anticipated to restrict the growth of the global display market.
Great Adoption of AR/VR Devices and Commercialization of Autonomous Vehicles
The current display market is focused on developing the technology and products primarily for large-sized displays and high-resolution images. The display market in future is expected to concentrate on the flexible displays that are thin, light, and less prone to breakage as compared to the conventional displays. Therefore, flexible displays are expected to replace the current display devices as well as create new ones. These display systems are incorporated in the vehicles owing to growth in a trend of autonomous vehicles, and the use of flexible displays in AR/VR devices. These factors are expected to create lucrative growth opportunities in the global display market.
