Global Display Panel Market is Expected to Foresee Significant Growth During the Forecast Period. North America to Witness the Highest Growth

The global display panel market is expected to grow significantly by 2027 expanding at a CAGR of ~10% during the forecast period

Displays are the windows to the digital world of data. In the digital world, data is first created, then transmitted, processed, stored, and finally visualized in a human-readable form using displays. The value-addition along this digital highway is driving the digital megatrends in information technology (IT) today, from data creation with IT software, social media, IoT devices or other sensors, data transmission through 5G communication networks, data processing with AI and data storage/retrieval over cloud-based data centers

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Emerging smartphone penetration across the globe is one of the prominent reasons, due to which the demand for display panels is on the rise. The global smartphone permeation rate stood at 68.7% in 2021, with 5.4 billion smartphone users worldwide in the same year out of the 7.8 billion worldwide population. The number of smartphone users is expected to reach 6.27 billion by 2025. This would represent the smartphone penetration rate globally to 76.6% by 2025. As per data from the UN’s International Telecommunications Union (ITU), the World Bank, and the UN, in the middle of this decade number of active cellphone subscriptions grew larger, compared to the number of actual people on the planet.

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The COVID-19 pandemic has created a mixed impact on the global display panel market. The work-from-home culture and rise in the demand for smartphones boosted the market during the pandemic. As it has been noticed that due to shut down most of the manufacturing sites have been closed which has negatively impacted the market during the pandemic due to the disruption in supply chains and shortage of semi-conductor. LCD production in China is slowing as a result of the COVID-19 outbreak, LCD panel makers are seeking sharp price increases from their original equipment manufacturer (OEM) customers, with a month-to-month jump of as much as 10% in some cases. As per Omdia Display, the price for the notebook displays witnessed a hike, due to the 30–40% decrease in production for 2020’s first financial quarter (Q1), because of shortages in LCD modules. However, during the period when the unlock procedure started a steep rise in the market in terms of revenue was noticed.

Based on the type of display, the market is fragmented into LCD, OLED, and Others (AMOLED, Micro LED, etc). The OLED segment grabbed major market share and dominated the market. The segment captured the USD XX Mn market in 2020. The key advantages of OLED display such as Improved image quality, better contrast, higher brightness, fuller viewing angle, a wider color range, much faster refresh rates, lower power consumption, and a simpler design that enables ultra-thin, flexible, foldable, and transparent displays are contributing to the growth of the segment.

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Based on the resolution, the market is fragmented into 8K, 4K, HD and Others. The 8K segment captured XX% market share in 2020 and dominated the market. 8K resolution is the next step up from 4K resolution, with four times the number of pixels of its predecessor. Also, 8K is a higher resolution than 4K—and that’s it. 1080p screens have a resolution of 1,920 by 1,080 pixels.

Additionally, the report provides detailed initiatives that are being taken in the field of Pet Display panel. The market is classified into distinct regions including North America (the U.S, Canada, Rest of North America), Europe (Germany, France, Spain, Italy, and United Kingdom and the Rest of Europe), Asia-Pacific (China, Japan, Australia, India, and the Rest of APAC), Rest of World has been conducted. Asia Pacific region grabbed XX% market and captured USD XX Mn market share in 2020. Surging demand for smart consumer electronics, the emerging number of manufacturing facilities, and the low cost of labor are some of the factors that are supporting the market growth of the display panel in the Asia-Pacific region.

Global Display Panel Market Segmentation

Market Insight, by Type of Display

• LCD
• OLED
• Others (AMOLED, MicroLED, etc)

Market Insight, by Resolution

• 8K
• 4K
• HD
• Others

Market Insight, by Application

• Smartphones and Tablets
• PC and Laptop
• Television
• Others

Market Insight, by Region

• North America
  • United States
  • Canada
  • Rest of North America
• Europe
  • France
  • Germany
  • Spain
  • Italy
  • United Kingdom
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia-Pacific
• Rest of World

Top Company Profiles

• AU Optronics Corporation
• BOE Japan Co. Ltd
• Innolux Corporation
• LG Display Co. Ltd
• Samsung Electronics Co. Ltd
• Panasonic Corporation
• Sharp Corporation
• Hisense Co. Ltd
• Toshiba Corporation
• Sony Corporation