The global demand for display panel market is expected to reach a value of US$ 148,053.0 million in 2023, with a projected compound annual growth rate (CAGR) of 4.4% that will lead to a value of US$ 228,451.9 million by 2033. This growth can be attributed to the continuous advancements in consumer electronics. In the period from 2018 to 2022, the display panel market experienced a CAGR of 3%.
The display technologies industry offers thin film liquid crystal display (TFT-LCD) glass and other advanced display products which are used in applications such as televisions, smartphones, tablets, notebooks, wearable, gaming consoles, automotive, electronics, and other emerging technologies.
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Display industry is heavily driven by the demand of these end products. With the advancement in technologies, there is an increase in awareness to the customers about the display panels or touch screens that enables them to interact with a computer. Display panel acts as a display screen which showcases control components and offer a platform to the consumers to exchange messages or interact.
Display panels are presently having multiple applications including in television screens, automobiles, smartphones, ATMs, smart wearable and among others. Adoption and awareness of many other devices are directly interlinked to the display panel market such as smart devices, television, infotainment systems in automobiles etc.
Global television shipment is experiencing a slow growth recently, the same time applications in various other devices such as smart phone and gaming console is increasing which is negating the impact on the growth.
Global Display Panel Market: Drivers and Challenges
Application of display panels across various sectors such as education and government offices, retail, and hospitality is expected to boost the revenue of global display panel in the coming years.
Emergence of multi touch screens, reduction in replacement cycles and changing consumer usage pattern is expected to drive the growth of display panels in the forecast period. Increasing demand in automotive segment, technological advancements and government initiatives towards smart cities are further having a positive impact on the growth of global display panel market.
Pricing pressure from online retailers and maturing of smartphone industry are among the prime challenges to be faced by the global display panel market in the forecast period.
Global Display Panel Market: Competition Landscape
Some of the key players for display panel market include Sony Corporation, Panasonic Corporation, Corning Incorporated, LG Electronics Inc., Asahi Glass, Nippon Electric Glass, Samsung Electronics Co. Ltd., Innolux Corporation, Sharp Corporation and HannStar Display Corporation.
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Key Segments Profiled in the Display Panel Industry Survey
Display Panel Market by Application:
- Display Panel for Flat Panel Display
- Display Panel for Car Navigation
- Display Panel for Smartphones
- Display Panel for Other Applications
Display Panel Market by Technology:
- LCD Display Panel
- LED Display Panel
- Other Display Panel Technologies
Display Panel Market by Display Size:
- Small Screen Display
- Medium Screen Display
- Large Screen Display
Display Panel Market by Region:
- North America Display Panel Market
- Latin America Display Panel Market
- Europe Display Panel Market
- Asia Pacific Display Panel Market
- Middle East and Africa Display Panel Market
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