HOME Research Insight LG Display Co. Ltd. (South Korea) and Samsung Electronics Co. Ltd. (South Korea) are the Two Major Players in the Display Market.

LG Display Co. Ltd. (South Korea) and Samsung Electronics Co. Ltd. (South Korea) are the Two Major Players in the Display Market.

Display panels, which are manufactured using technologies such as LED-backlit LCD, OLED, E-paper, quantum dot LED, and others, are used in applications such as TVs, smartphones, PC monitors, laptops, smart wearables, and others. The display market was valued at USD 106.41 Billion in 2015 and is expected to reach USD 169.17 Billion by 2022, at a CAGR of 7.5% between 2016 and 2022. The high growth of the flexible panel market; rising demand for OLED-based devices; and development of energy-efficient, attractive, and high specification display products are the major drivers for the market. With the launch of new technologies such as OLED and QD-LED, and high requirement for display products in various industries (such as consumer electronics, automotive, retail and many more), the market is expected to witness significant growth during the forecast period.

Demand for high specifications (thin design and low power consumption) encourages companies to develop and launch new products with enhanced features. Market players also focus on partnerships, agreements, and collaborations to enter into new applications by launching technologically advanced and innovative display devices. Panel manufacturers also expand capabilities-another strategy widely adopted by companies-to showcase their dominance in the market. Companies such as LG Display Co. Ltd. (South Korea), Japan Display Inc. (Japan), and BOE Technology Group Co. Ltd. (China) have adopted manufacturing capability expansion and new product development as their main strategies, whereas Samsung Electronics Co. Ltd. (South Korea), Universal Display Corp. (U.S.), and E Ink Holdings Inc. (Taiwan) have adopted acquisitions, partnerships, and collaborations as their main strategies.

LG Display Co. Ltd. (South Korea) and Samsung Electronics Co. Ltd. (South Korea) are the two major players in the display market.

LG Display is a diversified manufacturing company that is involved in the development of various technologies for a wide range of applications. It has made huge investments to develop the OLED technology, whereas Samsung has invested in Quantum dot LED technology. Also, LG has adopted expansion as its main strategy-mainly due to its large customer base. To meet the demand for panels, the company has been involved in launching new manufacturing plants in various regions.

Samsung derives strength from its penetration into wide application areas and continues to develop various technologies. The company has a diversified product portfolio with different applications and covers verticals such as consumer electronics, automotive, retail, and many others. Samsung has also been involved in developing customized solutions for end customers, leading to enhanced customer satisfaction. For the past few years, the company had focused its efforts on developing the quantum dot LED technology for display devices and successfully launched QD-LED-based TVs last year. It is also involved in OLED technology, but it expects quantum dot LED technology to be the future of displays.

Related Reports:

Display Market by Technology (LED-backlit LCD, OLED, QD-LED, E-Paper), Display Type (Flat, Flexible, Transparent), Application (Smartphone & Tablet, TV & Digital Signage, PC Monitor & Laptop), Vertical, and Geography - Global Forecast to 2022

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