Display Market

Market Leadership - Display Market

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 4.0% 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.

Display panel makers focus on product launches, expansions, and technology agreements to enter into new market segments. Panel manufacturers are expanding by constructing new production facilities or upgrading existing facilities.

Samsung Electronics (Samsung Display) (South Korea); LG Display (South Korea); BOE Technology (China); AU Optronics (AUO) (Taiwan); Innolux (Taiwan); Japan Display (JDI) (Japan); Sharp (Foxconn) (Japan); China Star Optoelectronics Technology (CSOT, CDOT, TCL) (China); Tianma Microelectronics (China); and Truly International (Hong Kong) are the leading players in the display panel market.

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Samsung has maintained its leading position in the TFT-LCD flat panel display market since the past; it has consistently introduced products with higher resolution, lower power consumption, lower cost, and higher yield rate. With the demand for OLED displays having grown rapidly in the last 3 years, the company can be seen to have captured a majority of the OLED market (90%, 2017) owing to its continued investment and technological expertise in the OLED technology domain and quick expansion of production capabilities. The company is focusing on expanding its market reach by collaborating with companies from the entertainment industry to provide Cinema LED screens for theatres. In March 2017, Samsung acquired HARMAN International, which designs and engineers connected products and solutions for automakers, consumers, and enterprises worldwide. In January 2018, HARMAN launched the JBL LINK View, a voice-controlled, smart display speaker with the Google Assistant built in. The company is focused on developing new display technologies like micro-LED, advancements in LCD space with QD, and flexible/curved OLED panels.

LG Display is the leading player in the LCD display segment (largest market share in 2017). LG Display has expanded its manufacturing capabilities in recent years by installing new OLED panel manufacturing plants. The company offers a wide range of display panels for devices like television, smartphone, tablet, notebook, desktop, automotive, and smart wearables. It is focused on offering cost-competitive display products and maintaining stable and long-term relationships with its customers

The company is financially strong owing to support from its parent company. It has a strong global presence and a wide customer base particularly in China; more than 65% of its 2017 revenue was from China (due to huge demand for display panels from consumer electronics manufacturers). LG Display is actively exploring and preparing for new business opportunities that may arise in the changing display market. In June 2018, the company introduced a 65-inch UHD rollable OLED display at the CES 2018. The display can be rolled up to a small size and kept aside when not in use.

Related Reports:

Display Market by Product (Smartphone, Wearables, Television, Automotive, Signage), Technology (LCD, OLED [Flexible, Foldable, Rigid], Direct-View LED, Micro-LED), Panel Size (Micro, Small & Medium, Large), Industry, and Geography - Global Forecast to 2024

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Report Code
SE 3387
Published ON
Jan, 2019
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