Display Market by Display Technology (LCD, OLED, Micro-LED, Direct-view LED), Panel Size (Microdisplays, Small & Medium-sized Panels, Large Panels), Product Type (Smartphones, Television Sets, Wearables), Vertical, and Region- Global Forecast to 2028
[280 Pages Report] The display market size is projected to reach USD 187.8 billion by 2028 from USD 157.8 billion in 2023 at a CAGR of 3.5% during the forecast period. Surging adoption of OLED displays in various applications, increasing demand for displays in the automotive and healthcare industries, increasing use of LED displays video walls, TVs, and digital signage applications, and growing popularity of interactive displays are some of the major factors driving the market growth globally.
Display Market Forecast to 2028
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Display Market Dynamics
Driver: Increasing use of LED displays for video walls, TVs, and digital signage applications
LED technology uses light emitting diodes to create lighting solutions, displays, and other applications. The technology is used in a wide range of applications, such as smartphones, TVs, video walls, and digital signage. LED displays have become one of the most used display technologies used across various applications and holds a significant share of the market compared to other technologies. While the LED display industry has matured in recent years, there has been a lack of innovation. However, one recent breakthrough has been the miniaturization of the components required to build an LED screen. This development has enabled LED screens to become incredibly thin and expand to enormous sizes, making them suitable for use on any surface, both indoors and outdoors. Technological advancements, such as improved resolution, increased brightness capabilities, product versatility, and the emergence of durable surface LEDs and micro-LEDs have also contributed to the increase in LED applications, driving the growth of market.
Restraint: Decline in demand for displays in retail sector due to drastic shift toward online advertisement and shopping
The global electronic commerce industry has experienced tremendous growth in recent years, with millions of people engaging in online shopping. Despite initial concerns about security, consumers are increasingly comfortable buying products online due to faster delivery, easy return policies, and free shipping offered by many e-commerce sites. This trend has had a significant impact on the retail sector, with brick-and-mortar stores experiencing a decline in business due to accelerating online sales.
Digital advertising offers more sophisticated and personalized options for reaching multi-device, multi-channel consumers who spend more time online than before. As a result, the demand for displays in commercial and retail settings has significantly decreased as businesses shift their advertising focus toward online channels.
Opportunity: Micro-LED and mini-LED technologies to carve out new growth avenues for display market
Micro-LED and Mini-LED technologies are expected to create new opportunities for the display market. Both technologies are designed to provide better picture quality, higher brightness, and greater energy efficiency than existing display technologies such as LCD and OLED. Micro-LED technology can be used for a wide range of applications, such as televisions, smartphones, and wearables.
Micro-LED displays are a next-generation technology that utilizes small, self-emitting LEDs that are less than 100 micrometers in size. Compared to conventional display technologies, they offer several benefits such as improved color accuracy, higher contrast, and faster response times. Additionally, micro-LED displays are more power-efficient and can be used in various applications, including smartphones, laptops, AR/VR devices, and large digital signage. These advantages make micro-LED displays a promising technology, with the potential to revolutionize the display industry.
Challenge: High costs associated with new display technology-based products
In recent years, the display market has been greatly impacted by the consistently decreasing prices of LCD panels. Although there are newer technologies such as micro-LED and quantum dot displays that are more expensive compared to established technologies like LED-LCD. Currently, the prices of LCD panels are lower than OLED panels, which is a result of increased demand for OLED displays from smartphones, smart wearables, and TV manufacturers. Typically, when a new technology is introduced, manufacturers charge a premium, which pushes prices upward and can limit the growth of that market. This, ultimately, has an adverse impact on the overall market.
Display Market Ecosystem
The key players in the display market include Samsung Electronics Co., Ltd. (South Korea), BOE Technology Group Co., Ltd. (China), LG Display Co., Ltd. (South Korea), AUO Corporation (Taiwan), and Innolux Corporation (Taiwan). These companies not only boast a comprehensive product portfolio but also have a strong geographic footprint.
Micro-LED to register highest CAGR during the forecast period
Micro-LED displays offer several advantages over traditional LCD displays, including improved energy efficiency, better contrast, and faster response times. Micro-LEDs are a promising technology, with a diverse range of potential applications. Notably, the two most significant areas of implementation lie at the opposite ends of the size spectrum. At one end, wearable devices such as smartwatches and near-to-eye (NTE) devices, which feature minute displays, can greatly benefit from micro-LED technology. Conversely, extremely large indoor public displays represent the other end of the size spectrum that can leverage the unique properties of micro-LEDs.
Consumer electronics to account for the largest share of display market during the forecast period
The consumer segment is expected to continue to account for the largest size of the market during the forecast period. The consumer industry includes products such as smartphones, televisions, smart wearables, PC monitors and laptops, and tablets, all of which have significant shares in the global market. The growing demand for organic light-emitting diode (OLED) and micro-LED displays for devices such as smartphones and television sets due to their thinness, flexibility and vibrant colors is a major factor driving the market growth for consumer electronics.
Smartphones to account for the largest share of display market during the forecast period
The smartphone display market accounted for the largest share in 2022 and is expected to dominate the market during forecast period. The growing adoption of OLED and flexible displays in smartphones is a major factor contributing to the market growth. Furthermore, the volume of flexible OLED display panels has been witnessing a significant growth in recent years, subsequently driving the market growth for smartphones. Furthermore, the rollout of 5G is expected to create a surge in demand for smartphones, thereby, driving the market growth for LCD and OLED displays. Moreover, the increasing adoption of smart wearbles is expected to create growth opportunities for market players offering LCD and OLED display panels.
Asia Pacific to register the highest growth during the forecast period
Asia Pacific is expected to register the highest CAGR in the display market from 2023 to 2028. Asia Pacific is the largest producer and consumer of displays due to the presence of established display panel and device manufacturers such as Samsung Electronics Co., Ltd. (South Korea), LG Display Co., Ltd. (South Korea), BOE Technology Group Co., Ltd. (China), AUO Corporation (Taiwan), etc. Furthermore, increasing investments by governments and other organizations in retail and education industries is also expected to provide ample growth opportunities for market players in the region.
Display Market by Region
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Key Market Players
The key players in the display market are Samsung Electronics Co., Ltd. (South Korea), BOE Technology Group Co., Ltd. (China), LG Display Co., Ltd. (South Korea), AUO Corporation (Taiwan), and Innolux Corporation (Taiwan). These companies have used both organic and inorganic growth strategies such as product launches, collaborations, acquisitions, and partnerships to strengthen their position in the market.
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Report Metric |
Details |
| Estimated Market Size | USD 157.8 billion in 2023 |
| Projected Market Size | USD 187.8 billion by 2028 |
| Growth Rate | CAGR of 3.5% |
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Market size available for years |
2019–2028 |
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Base year considered |
2022 |
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Forecast period |
2023–2028 |
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Forecast units |
Value (USD Billion) |
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Segments covered |
By Dispay Technology, By Panel Size, By Product Type, By Vertical |
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Geographies covered |
Asia Pacific, North America, Europe, and Rest of the World |
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Companies covered |
The major players in the display market are Samsung Electronics Co., Ltd. (South Korea), BOE Technology Group Co., Ltd. (China), LG Display Co., Ltd. (South Korea), AUO Corporation (Taiwan), Innolux Corporation (Taiwan), Sharp Corporation (Japan), Japan Display Inc. (Japan), Sony Group Corporation (Japan), Leyard Optoelectronic Co Ltd (China), Qisda Corporation (Taiwan), and VIA Optronics AG (Germany). |
Display Market Highlights
The study segments the display market based on display technology, panel size, product type, and vertical at the regional and global level.
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Segment |
Subsegment |
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By Display Technology |
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By Panel Size |
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By Product Type |
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By Vertical |
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By Region |
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Recent Developments
- In January 2023, Samsung Electronics Co., Ltd. developed the world’s first touch-integrated OLED display. It started using touch integrated panels in place of plastic touch film. Samsung developed On-Cell Touch AMOLED (OCTA) technology, which integrates the touch sensor directly into the panel, eliminating the need for separate touch screen panels.
- In December 2022, LG Display Co., Ltd. launched a 97-inch OLED display panel which offers another level cinematic experience for users due to its large size. In addition, it also launched a 77-inch 8K OLED panel which offers the highest level of resolution by controlling 33 million self-emissive pixels to deliver exceptional ultra-high- resolution images
- In May 2022, AUO Corporation showcased the world’s first 34-inch AmLED curved gaming display panel with a 21:9 widescreen and a 165Hz ultra-high refresh rate at SID Display Week 2022
- In April 2021, Innolux Corporation developed a 16-inch MiniLED gaming notebook panel with high resolution, contrast ratio, and low latency, which is suitable for professional gaming. In addition, the company also showcased a 17.3-inch FHD gaming notebook panel with a 480Hz ultra-high refresh rate and a 27-inch MiniLED gaming monitor with a 300Hz ultra-high refresh rate.
- In November 2020, BOE Technology Group Co., Ltd. launched the world's first 55-inch 4K AMQLED display, which employs electroluminescent quantum dots. The 55-inch 4K AMQLED display from BOE is the world's first of its kind, boasting a resolution of 3840×2160, a color gamut of 119% NTSC, and a contrast ratio of 1,000,000:1. It has a wide range of potential applicatins in the field of large displays.
Frequently Asked Questions (FAQ):
What is the current size of the global display market?
The display market is projected to reach USD 187.8 billion by 2028 from USD 157.8 billion in 2023 at a CAGR of 3.5% from 2023 to 2028.
Who are the winners in the global display market?
Companies such as Samsung Electronics Co., Ltd. (South Korea), BOE Technology Group Co., Ltd. (China), LG Display Co., Ltd. (South Korea), AUO Corporation (Taiwan), Innolux Corporation (Taiwan).
Which region is expected to hold the largest market share?
Asia Pacific is expected to register the largest market share in the display market during the forecast period. The high growth of the market in the region can be attributed to the increased government investments in the retail and education sectors and the presence of some of the established display manufacturers, such as Samsung and LG Display in the region.
What are the major drivers and opportunities related to display market?
Surging adoption of OLED displays in various applications, increasing demand for displays in the automotive and healthcare industries, increasing use of LED displays video walls, TVs, and digital signage applications, the growing adoption of flexible and foldable displays, rapid adoption of AMOLED displays, especially due to the introduction of 5G are major drivers and opportunities driving the market growth.
What are the major strategies adopted by market players?
The key players have adopted product launches, collaborations, acquisitions, and partnerships to strengthen their position in the display market.
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The research study involved 4 major activities in estimating the size of the display market. Exhaustive secondary research has been done to collect important information about the market and peer markets. The validation of these findings, assumptions, and sizing with the help of primary research with industry experts across the value chain has been the next step. Both top-down and bottom-up approaches have been used to estimate the market size. Post which the market breakdown and data triangulation have been adopted to estimate the market sizes of segments and sub-segments.
Secondary Research
In secondary research, various secondary sources have been referred to for obtaining the information that was needed for the study. Various secondary sources that were used for the research include, corporate filings such as annual reports, press releases, investor presentations, and financial statements, trade, business, and professional associations, whitepapers, journals, certified publications, and articles from recognized authors and databases.
In the display market report, the top-down as well as the bottom-up approaches have been used for the estimation of the global market size, along with several other dependent submarkets. The major players in the market were identified with the help of extensive secondary research and their presence in the market was determined using secondary and primary research. All the percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Primary Research
Extensive primary research has been conducted after understanding the display market scenario through secondary research. Several primary interviews have been conducted with key opinion leaders from both demand- and supply-side vendors across 4 major regions— Asia Pacific, North America, Europe, and the Rest of the World. Approximately 25% of the primary interviews have been conducted with the demand-side vendors and 75% with the supply-side vendors. Primary data has been collected mainly through telephonic interviews, which consist of 80% of the total primary interviews; questionnaires and emails have also been used to collect the data.
After successful interaction with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings of our primary research. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the report.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
In the market engineering process, both top-down and bottom-up approaches along with data triangulation methods have been used to estimate and validate the size of the display market and other dependent submarkets. The research methodology used to estimate the market sizes includes the following:
- Initially, the focus was on top line investments and spending in the ecosystem. Further the segment level splits and major developments in the market have been considered.
- Identifying different stakeholders in the display market that influence the entire market, along with participants across the value chain
- Analyzing major manufacturers of display panels as well as studying their product portfolios
- Analyzing trends related to the adoption of displays based on product type
- Tracking the recent and upcoming developments in the market that include investments, R&D activities, product launches, collaborations, mergers & acquisitions, and partnerships, as well as forecasting the market size based on these developments and other critical parameters
- Carrying out multiple discussions with key opinion leaders to identify the adoption trends of displays
- Segmenting the overall market into various other market segments
- Validating the estimates at every level through discussions with key opinion leaders, such as chief executives (CXOs), directors, and operation managers, and finally with the domain experts at MarketsandMarkets
Market Size Estimation Methodology-Bottom-up Approach
Market Size Estimation Methodology-Top- down Approach
Data Triangulation
After arriving at the overall market size through the market size estimation process explained in the earlier section, the overall display market has been divided into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments, the data triangulation and market breakdown procedures have been used, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply side perspectives. Along with data triangulation and market breakdown, the market has been validated by top-down and bottom-up approaches.
Market Definition
A display is an output device that provides textual, pictorial or graphical information. Display panels are used in devices such as televisions (TVs), personal computers (PCs), digital signage, smartphones, and wearables. Display panels are available in various types, such as rigid panels, flexible panels, and transparent panels, and utilize different technologies, such as liquid crystal display (LCD), organic light-emitting diode (OLED), microLED, direct-view LED, and quantum dot display.
Displays act as dynamic information-sharing devices in diverse sectors, including retail, transportation, healthcare, and education. Typically, they find applications in various consumer devices and automotive systems. Furthermore, displays are an integral part of restaurants, hospitality facilities, medical centers, or service industry’s point-of-sale systems. They are used for wayfinding and self-check-in; they also provide users with access to information such as patient details and product availability at a store.
Key Stakeholders
- Display Panel Manufacturers
- Semiconductor Component Suppliers/Foundries
- Display Material and Component Suppliers
- Manufacturing Equipment Suppliers
- System Integrators/OSAT
- Technology/IP Developers
- Consulting and Market Research Service Providers
- Display and Material-related Associations, Organizations, Forums, and Alliances
- Venture Capitalists and Startups
- Research and Educational Institutes
- Distributors and Resellers
- End Users
The main objectives of this study are as follows:
- To define, analyze, and forecast the display market size, by display technology, panel size, product type, and vertical, in terms of value
- To define, analyze, and forecast the display market size, by display technology, in terms of volume
- To forecast the market size for various segments with respect to four main regions, namely, North America, Europe, Asia Pacific, and Rest of the World
- To provide detailed information regarding the major drivers, restraints, opportunities, and challenges influencing the growth of the display market
- To study the complete value chain and related industry segments for the display market
- To strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the total market
- To analyze trends and disruptions; pricing trends; patents and innovations; trade data (export and import data); regulatory environment; Porter’s five forces analysis; case studies; key stakeholders & buying criteria; technology trends; the market ecosystem; and key conferences and events related to the display market
- To analyze opportunities in the market for various stakeholders by identifying the high-growth segments of the market
- To strategically profile the key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing the competitive landscape for the market leaders
- To analyze competitive developments such as product launches/developments, expansions, acquisitions, partnerships, collaborations, agreements, and research and development (R&D) activities carried out by players in the display market
Available Customizations:
With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:
Country-wise Information:
- Country-wise breakdown for North America, Europe, Asia Pacific, and Rest of the World
Company Information:
- Detailed analysis and profiling of additional market players (up to five)
Generating Response ...
Growth opportunities and latent adjacency in Display Market