Display Market Research, 2032
The Global Display Market was valued at $124.1 billion in 2022, and is projected to reach $244 billion by 2032, growing at a CAGR of 7.06% from 2023 to 2032.
The display market is poised for substantial growth in the coming years, primarily fueled by rising demand for advanced display technologies across residential, commercial, and industrial sectors, accompanied by rapid technological advancements. This growth is further driven by an increase in awareness of energy-efficient display solutions and a growing emphasis on sustainability. Stringent regulations promoting energy conservation, combined with the need for cost-effective and innovative display options, are expected to further boost market expansion, creating a favorable landscape for sustained growth and development within the industry.
Display refers to a device or screen that presents information, images, or video output to users. Displays come in various forms, sizes, and technologies, and they are essential components of numerous electronic devices, ranging from smartphones and laptops to televisions and digital signage. These displays utilize various technologies, including Organic Light-Emitting Diode (OLED), Liquid Crystal Display (LCD), and Light-Emitting Diode (LED), catering to applications across consumer electronics such as TVs, laptops, tablets, and smartwatches.
Key Takeaways of Display Market Report
By display type, the flat panel display segment held the largest share of the display market in 2022. However, the flexible panel display segment is anticipated to grow at the fastest CAGR during the forecast period.
By technology, the LCD segment held the largest share of the display market in 2022. However, the OLED segment is anticipated to grow at the fastest CAGR during the forecast period.
By application, the television and digital signage segment held the largest display market share in the display industry in 2022. However, the vehicle display segment is anticipated to grow at the fastest CAGR during the forecast period.
By industry vertical, the consumer electronics segment held the largest display market size in the display industry in 2022. However, the automotive segment is anticipated to grow at the fastest CAGR during the forecast period.
Region-wise, Asia-Pacific held the largest market share in 2022 and is expected to witness the highest CAGR during the display market forecast period.
Market Dynamics
Technological advancements drive the display market
The display market is experiencing significant growth, driven by the introduction of advanced technologies that are improving visual experiences across a variety of industry sectors, including consumer electronics, retail, sports and entertainment, and transportation. Key trends within this market include the increasing popularity of 3D and flexible displays. Particularly, OLED technology is becoming more prevalent in a range of products from smart wearables to smartphones. A notable innovation in this space is the development by Samsung Electronics Co., Ltd. of the world’s first OLED display with integrated touch functionality in January 2023. This advancement represents a significant step forward for the industry, as it allows touch sensors to be directly incorporated into the display panels. This enhances the overall user experience by eliminating the need for separate touchscreen panels.
High costs associated with new display technology restrain market growth
The display market encounters challenges despite its potential due to the high costs associated with adopting new technologies such as transparent and quantum dot displays. Additionally, the market faces stagnant growth in sectors such as desktop PCs, notebooks, and tablets, which limits the demand for display technology advancements in these areas. These factors hinder the market's ability to fully capitalize on its potential for growth and innovation.
Increase in application of flexible displays creates opportunity in the display market
The increase in application of flexible display devices presents significant growth opportunities for the industry by enabling the development of innovative products with unique form factors and enhanced user experiences. Flexible displays allow for the creation of bendable, foldable, and rollable screens, which can be integrated into a wide range of devices such as smartphones, wearables, and automotive displays. This flexibility not only drives consumer interest but also opens new markets and applications, thus driving the demand for flexible display technologies and thereby spurring industry growth.
Segments Overview
The display market is segmented into display type, technology, application, industry vertical, and region.
On the basis of display type, the display market is segmented into Flat Panel Display, Flexible Panel Display, Transparent Panel Display. In 2022, the flat panel display segment held the largest share of the display market due to their widespread adoption in consumer electronics like TVs and smartphones.
On the basis of technology, the display market is segmented into OLED, Quantum DOT, LED, LCD, E-Paper, others. In 2022, the LCD segment held the largest share of the display market due to its affordability, mature technology, and good enough performance for many applications.
On the basis of application, the display industry is segmented into smartphone and tablet, smart wearable, television and digital signage, pc and laptop, vehicle display, others. In 2022, the television and digital signage segment was the highest revenue generator in the display industry, primarily due to the continued demand for large displays for entertainment and growing adoption of digital signage in various sectors.
On the basis of industry vertical, the display market is segmented into healthcare, consumer electronics, BFSI, retail, military and defense, automotive, others. In 2022, the consumer electronics segment held the largest share of the display market due to widespread adoption of smartphones, tablets, laptops, and televisions.
By Region
On the basis of region, the display market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, and rest of Asia-Pacific), LAMEA (Latin America, Middle East, and Africa). In 2022, Asia-Pacific held the largest market share in the display industry due to its robust manufacturing infrastructure, growing consumer electronics market, and significant technological advancements across countries like China, Japan, and India.
Top Impacting Factors
The display market is expected to witness notable growth owing to high demand for flexible display technology in consumer electronics devices, surge in adoption of LED displays for digital signage, TVs, and video wall applications, rise in trend of touch-based devices and demand for the digitized promotion. Moreover, growth adoption of AR/VR devices and commercialization of autonomous vehicles and micro-led and mini-led technology are set to expand the display industry are expected to provide lucrative opportunities for the growth of the market during the forecast period. On the contrary, high cost of the transparent and quantum dot display technologies and drastic shift toward online advertisement and shopping hamper the growth of displays in retail sector limit the display market growth.
Competitive Analysis
The display market analysis report highlights the highly competitive nature of the display market, owing to the strong presence of existing vendors. Vendors with extensive technical and financial resources are expected to gain a competitive advantage over their counterparts by effectively addressing display market demand. The competitive environment in this market is expected to increase as product launches, and partnership kind of strategies adopted by key vendors increase. Competitive analysis and profiles of the major display market players that have been provided in the report include BOE Technology Group Co., Ltd., Samsung Electronics Co Ltd., Innolux Corporation, Panasonic Corporation, Japan Display Inc., AUO Corporation, Sharp Corporation, Sony Corporation, NEC Corporation, Leyard Optoelectronic Co., Ltd., and LG Display Co Ltd.
Recent Developments in Display Industry
According to the latest display market outlook, the leading companies are adopting strategies such as product launch, acquisition, agreement, new product development, partnership and collaboration to strengthen their market position in the display market.
In February 2024, Sony India introduced the EZ20L series, expanding its professional BRAVIA display lineup for corporate and retail applications. Ranging from 43 to 75 inches, the 4K series offered basic professional features, including simplified setup and maintenance, RS-232C support, and 16/7 operation. This addition catered to diverse business needs while maintaining Sony's quality standards.
In January 2024, Samsung Electronics unveiled its 2024 display lineup, including Neo QLED, MICRO LED, OLED, and Lifestyle displays, at CES 2024. This launch initiates the AI screen era with the new NQ8 AI Gen3 Processor, enhancing picture and sound quality.
In January 2024, Sharp NEC Display Solutions Europe unveiled the latest Sharp-branded MultiSync ME Series, featuring high versatility and functionality for professional environments. The new displays offer native USB-C connectivity, quick input detection, and a high haze panel, catering to enterprise usersfor hybrid workflows and digital signage.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the display market analysis from 2022 to 2032 to identify the prevailing display market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the display market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global display market trends, key players, market segments, application areas, and market growth strategies.
Display Market Report Highlights
| Aspects | Details |
 Market Size By 2032 | USD 244 billion |
 Growth Rate | CAGR of 7.1% |
 Forecast period | 2022 - 2032 |
 Report Pages | 426 |
 By Display Type |
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 By Technology |
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 By Application |
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 By Industry Vertical |
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 By Region |
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 Key Market Players | BOE Technology Group Co., Ltd., AUO Corporation, Leyard Optoelectronic Co., Ltd, Sony Corporation, NEC CORPORATION, Panasonic Corporation, Innolux Corporation, Japan Display Inc, Samsung Electronics Co Ltd, LG Display Co Ltd, Sharp Corporation |
Analyst Review
The display market holds significant potential for the semiconductor industry. In the current business landscape, there is a notable surge in demand for displays, particularly in developing regions, attributed to the increasing trend of touch-based devices and the greater adoption of electronic components in the automotive sector. Consequently, companies operating within the display industry are leveraging various innovative techniques to provide customers with advanced and groundbreaking product offerings.
The global display market is expected to witness substantial growth, driven by its increased adoption across various industries such as consumer electronics, retail, and healthcare, aimed at enhancing operational efficiency. Technological advancements have further catalyzed industrial development across a spectrum of sectors. For instance, in January 2024, Samsung Electronics unveiled its 2024 display lineup, including Neo QLED, MICRO LED, OLED, and Lifestyle displays, at CES 2024. This launch initiates the AI screen era with the new NQ8 AI Gen3 Processor, enhancing picture and sound quality.
Additionally, in August 2023, the company has announced the launch of two new display models, the HCU7030 and HCF8000, specifically designed for the healthcare sector. The HCU7030 is aimed at hospitals and healthcare environments, while the HCF8000 is versatile enough for use in both healthcare and hotel settings. The demand for flexible display technology in consumer electronics devices is a significant growth driver. However, challenges such as the high cost of transparent and quantum dot display technology, as well as the stagnant growth of desktop PCs, notebooks, and tablets, present obstacles to market expansion.
The adoption of AR/VR devices and the commercialization of autonomous vehicles are anticipated to create lucrative opportunities for key players in the display market. Moreover, Asia-Pacific is poised to dominate the market share during the forecast period, driven by the development of numerous displays and the proliferation of touch screen devices. Notably, China stands out as a major hub for display shipments globally, further propelling the display market growth in the region.
The industry size of display was estimated to be $124.14 billion in 2022.
The Asia-Pacific region is the largest regional market for Display.
The top companies to hold the market share in Display are BOE Technology Group Co., Ltd., Samsung Electronics Co Ltd., Innolux Corporation, Panasonic Corporation, Japan Display Inc., AUO Corporation, Sharp Corporation, Sony Corporation, NEC Corporation, Leyard Optoelectronic Co., Ltd., and LG Display Co Ltd.
The leading application of the display market is in the consumer electronics sector, specifically in smartphones, televisions, laptops, and tablets.
The display market is witnessing a surge in trends such as the adoption of OLED and micro-LED technologies, the integration of touch and gesture-based interfaces, and a focus on sustainable, energy-efficient designs.
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