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The Worldwide Display Industry is Expected to Reach $177.1 Billion by 2026 at a CAGR of 3.6% from 2021 - ResearchAndMarkets.com

·4-min read

The "Display Market with COVID-19 Impact Analysis by Product (Smartphones, Wearables, Television Sets, Signage, Tablets), Resolution, Display Technology (LCD, OLED, Direct-View LED, Micro-LED), Panel Size, Vertical, and Geography - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global display market size was valued at USD 148.4 billion in 2021 and is projected to reach USD 177.1 billion by 2026. It is expected to grow at a CAGR of 3.6% during the forecast period.

Surging adoption of OLED displays in various applications, increasing use of LED displays for video wall, TVs, and digital signage applications, growing demand for interactive displays in various applications, and rising demand for display-based medical equipment, including ventilators and respirators, due to COVID-19 pandemic are the key driving factors for the display market. However, the decline in demand for displays in the retail sector due to the drastic shift towards online advertisement and shopping hampering the growth of the market.

OLED technology to witness a higher CAGR during the forecast period

OLEDs, due to their efficiency, superior color reproduction, and thin form factor, are expected to penetrate the television segment at a high rate during the forecast period. OLED panels for television sets are considerably more expensive to produce than modern LCD panels because of the lower yields of OLEDs. With improved yields, the prices of OLED television panels will decline rapidly. Using OLED panels in smartphones enables the production of highly bright light, low power consumption, and thin and lightweight form factor. Samsung Display is the leading producer of small and medium-sized active-matrix organic light-emitting diode (AMOLED) displays for smartphones and other devices. Samsung has utilized its AMOLED displays in its flagship smartphones, such as the Galaxy lineup. With Apple's adoption of AMOLED displays in its smartphones, the market witnessed exponential growth from 2018 to 2019, and the trend is expected to continue during the forecast period.

Smart wearables to witness a higher CAGR during the forecast period

The smart wearables display market segment is expected to witness high growth on the back of growing demand for HMDs. AR and VR HMDs are comparatively new products in the market and have a wide application scope across a number of industries. Smart wearable display devices and electronic screens have revolutionized the electronics industry by offering users interactive capabilities. Displays in such devices ideally require wide viewing angles, high resolution, high performance, optimum contrast, and high brightness. Researchers have come up with display technologies such as LCD, LCoS, OLED, and Micro-LED.

APAC to account the largest share during 2021-2026

APAC is a leader in both production and consumption of display panels. The region has witnessed significant advancements in the display device market, along with rapid changes in terms of the adoption of new technologies. APAC will continue to witness a major demand for smartphone displays during the forecast period. Renowned smartphone vendors, including Samsung, Sony, Panasonic, Huawei, Xiaomi, Oppo, and Vivo, are based in the region. Apart from smartphone manufacturers, an increasing number of HMD manufacturers in APAC is also likely to raise the demand for display panels for smart wearable devices in the region during the forecast period. The display market in APAC is also expected to witness significant growth in the television, automotive display, and large format display segments during the forecast period.

Market Dynamics

Drivers

  • Surging Adoption of Oled Displays in Various Applications

  • Increasing Use of Led Displays for Video Wall, TVs, and Digital Signage Applications

  • Growing Demand for Interactive Displays in Various Applications

  • Rising Demand for Display-Based Medical Equipment, Including Ventilators and Respirators, due to COVID-19 Pandemic

Restraints

  • Decline in Demand for Displays from Retail Sector due to Drastic Shift Towards Online Advertisement and Shopping

  • Deployment of Widescreen Alternatives, Such as Projectors and Screenless Displays, and Emergence of New Display Concepts

Opportunities

  • Growing Adoption of Foldable and Flexible Displays

  • Rapid Adoption of Amoled Displays, Especially due to Introduction of 5G

  • Emerging Use Cases of Displays to Provide Lucrative Growth Opportunities for Manufacturers

  • Micro-Led and Mini-Led Technologies to Carve Out New Growth Avenues for Display Market

  • Increased Capex Spending on Displays

Challenges

  • Hindrance in Supply Chain and Manufacturing Processes due to COVID-19

  • High Costs Associated with New Display Technology-Based Products

Companies Mentioned

  • Au Optronics (AUO)

  • Boe Technology13.2.5 Sharp (Foxconn)

  • China Star Optoelectronics Technology (CSOT) (CDOT) (TCL)

  • Chunghwa Picture Tubes

  • Emagin Corporation

  • Hannstar Display Corporation

  • Innolux

  • Japan Display

  • Kopin Corporation

  • LG Display

  • Leyard Optoelectronics

  • NEC Corporation

  • Panasonic

  • Qisda Corporation

  • Samsung Electronics

  • Sony

  • Tianma Microelectronics

  • Truly International

  • Universal Display

For more information about this report visit https://www.researchandmarkets.com/r/fgxlfi

View source version on businesswire.com: https://www.businesswire.com/news/home/20210301005757/en/

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