The global market for display technology accounted for US$ 128 Bn in 2021 and is estimated to reach US$ 210 Bn by 2030, with a significant CAGR of 5.8% from 2022 to 2030.
Displays are panel screens that show a range of multimedia forms to an audience. The capacity to display a wide range of multimedia forms, such as photos and video, is one of the advantages of displays, which has catapulted them to become a superior means of communication. Technological improvements have caused displays to improve in output quality while decreasing in price over time, which has been a crucial reason for their acceptance. Currently, there has been an increase in consumer preference for innovative display technologies. The display industry has been going through a lot of technological advancements and the key players are finding new ways to design their display products. This could be attributed to the increasing emphasis on virtual advertisements and the entertainment industry.
Market Growth Drivers
|Market||Display Technology Market|
|Market Size 2021||US$ 128 Bn|
|Market Forecast 2028||US$ 210 Bn|
|CAGR||5.8% During 2022 - 2030|
|Analysis Period||2018 - 2030|
|Forecast Data||2022 - 2030|
|Segments Covered||By Display Type, By Technology, By Application, By Vertical, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Samsung Electronics, Sony Corporation, Cambridge Display Technology Limited, Universal Display Corporation, LG Display, Japan Display Inc., BOE Technology, AU Optronics Corp., Sharp NEC Display Solutions, Ltd., and Innolux Corporation.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
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Robust demand from the consumer electronics industry is the primary factor driving the growth of the global display technology market. The industry has changed dramatically in recent years as a result of various new technology advancements. Over the next few years, the market is likely to be driven by advanced consumer electronics such as smartphones, laptops/tablets, smart wearables, and smart televisions. Furthermore, as the purchasing power of diverse segments of society has increased, more opportunities have opened up for display industry expansion.
The increasing trend of interactive displays has supported the industry to spur in the coming years. This is owing to the advancement of flexible display technologies, an increase in demand for interactive whiteboards in the education sector, and an increase in the popularity of touch-based devices. In addition, the growing digital advertising industry is one of the topmost display technology market trends that have been boosting the demand for the display industry. Digital advertising agencies use robust amount of displays hoardings, TVs, and other big screens to promote brands in malls, hospitals, and in commercial spaces. Thus, the display technology market has seen an impressive growth over the years.
However, the high cost of advanced displays such as transparent and quantum displays make the consumer reluctant to purchase them, thereby the market is expected to hold a stable growth for next few years. In addition to that, growing preference of screenless displays that are portable and easy to handle could hamper the market from growing. On the other hand, the increasing innovations in display technologies such as flexible and foldable displays have offered new growth prospects for the market.
The global display technology market is segmented based on display type, technology, application, vertical, and geography.
Market By Display Type
Among them, the 3D displays segment is expected to grow with a substantial growth rate. A 3D display is a more advanced technology that gives viewers three-dimensional visuals and a sense of depth. Gaming, photography, cinema, education, military & defence, and engineering simulation are all using 3D display technology. Due to the growing use of 3D displays in the entertainment and gaming industries, the 3D display share is predicted to grow significantly throughout the forecast period. Furthermore, the segment has grown due to an increase in demand for 3D display solutions in the entertainment industry.
Market By Technology
Based on technology, the AMOLED displays segment is showing stiff growth in the consumer electronics sector. This is credited to the rising application of AMOLED display technology in tablets, smartwatches, digital cameras, gaming consoles, portable music players, and music production hardware. Rapid urbanization, rising income levels, and rising demand for entertainment and leisure are all boosting consumer electronics sales around the world. This is one of the most important aspects driving the AMOLED display market forward.
Market By Application
Based on technology, the mobile display segment is expected to register a significant growth rate throughout the forecast period 2022 – 2030. When purchasing a new mobile device, one of the most important elements to consider is the display. In the smartphone phone hardware, the display screen is quite important. Furthermore, the user can use the display screen to interact with the phone. Users currently expect the display to be comparable to computer screens, with crisp text, brilliant graphics, blur-free video, and enough brightness to be visible in bright sunlight.
Market By Vertical
Among all of them, the consumer segment is likely to attain a noteworthy CAGR in the coming years. Displays can be found in a variety of consumer electronics products. The expansion of the display market is fueled by increased demand for consumer electronics like televisions, smartphones, smart wearable devices, PCs, and other display devices. The automotive industry is also trending in the display technology. Nowadays, display gadgets are also used in the car business. Key players, for example, saw an opportunity and began developing a head-up display system for the car industry. Thus, the heads-up display may be used in a variety of ways and has a variety of functions to improve your driving experience.
Display Technology Market Regional Overview
Middle East & Africa (MEA)
The increased sales of smartphones and laptops/tablets in the Asia-Pacific region, fuels the regional market growth
The regional segmentation is given as North America, Latin America, Asia-Pacific, Europe, and the MEA. Among all the regions, the Asia-Pacific region witnessed a significant demand throughout the forecast period due to the presence of a high population that requires a huge number of smartphones, PCs, laptops/tablets, TVs, and many other electronic devices. In addition to that, the rising number of display panel manufacturing plants due to the low labor cost, which also reduces the overall manufacturing cost is also boosting the Asia-Pacific display technology market. On the other hand, the North America region contributed a noteworthy market share in 2021. The growing advancement in automated embedded device technology and growing application of displays in automotive, aerospace & defense, healthcare, etc. are some of the aspects that are driving the North America display technology market.
Some of the top vendors offered in the professional report include Samsung Electronics, Sony Corporation, Cambridge Display Technology Limited, Universal Display Corporation, LG Display, Japan Display Inc., BOE Technology, AU Optronics Corp., Sharp NEC Display Solutions, Ltd., and Innolux Corporation.
The estimated value of Global Display Technology Market in 2021 was accounted to be US$ 128 Bn and market projected to reach US$ 210 Bn by 2030
The projected CAGR of Global Display Technology Market during the analysis period of 2022 to 2030 is 5.8%
The prominent players of the global display technology market involve Samsung Electronics, Sony Corporation, Cambridge Display Technology Limited, Universal Display Corporation, LG Display, Japan Display Inc., BOE Technology, AU Optronics Corp., Sharp NEC Display Solutions, Ltd., and Innolux Corporation.
North America held the dominating share for display technology during the analysis period of 2022 to 2030.
Asia-Pacific region exhibited fastest growing CAGR for display technology during the analysis period of 2022 to 2030.
Growing adoption of OLED displays in various applications, increasing trend of interactive displays across verticals, and increasing preference of consumers for AMOLED displays all contribute to the expansion of the worldwide Display Technology market.
Based on display type, conventional display segment held the maximum share for display technology market in 2021.