New York, USA, Oct. 12, 2020 (GLOBE NEWSWIRE) -- A newest report published by Research Dive states that the global display panel market is expected to surpass $1,19,339.1 million by 2027, rising at a CAGR of 10.50% from 2020 to 2027. This report caters detailed data and insights on the current situation and future growth of the market. The report is a scrupulous research study, offering detailed market statistics for new players, stakeholders, market players, investors, shareholders, etc.
Factors Impacting the Market Growth:
According to the report, the rising demand for different types of electronic devices, equipped with OLEDs and LED screens that offer ultrahigh definition with enhanced picture quality and color saturation, is propelling the growth of the global display panel industry. Moreover, growing applications of electronic devices in several end use industries for various operational work is augmenting the market growth. However, high cost involved in the production of advanced display panels is expected to hinder the growth of the market. On the other hand, flexible displays are expected to unlock rewarding opportunities for the market growth in the near future. The report segments the market into type, product type, application, and region.
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Flexible Panel Segment to Dominate the Market during the Forecast Period
By product type, the report divides the market into rigid, flexible, and foldable. Among these, the flexible panel segment is projected to lead the market growth by growing at a CAGR of 11.7% throughout the estimated period. This is mainly due to growing adoption of flexible displays due to their features such as enhanced durability, low weight, slimmer body, ability to twist or turn in all directions, and inbuilt capacity to identify the software command.
Tablets and Mobile Phones Segment to Seize Major Market Share during the Forecast Period
By application, the report divides the market into tablets and mobile phones, television, digital signage, automotive, and others. Among these, the television segment is estimated to grab major share of the global market by growing with a CAGR of 9.5% all through the projected timeframe. This growth is mainly due to increasing demand for smart phones and tablets.
Asia-Pacific Region to Show Exponential Growth
The report analyzes the global display panel market across numerous regions including Asia Pacific, North America, Europe, and LAMEA. Among these, the Asia-Pacific region is estimated to grow with a highest CAGR of 12.5% throughout the estimates timeframe. This region is expected to offer profitable opportunities for the market growth mainly due to the presence of many electronic device manufacturing companies in this region.
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Effect of COVID-19 on the Global Display Panel Market Growth:
The COVID-19 pandemic has created an optimistic impact on the global display panel industry as many businesses are adopting work-from-home model in the course of the pandemic Moreover, rise in demand for smartphones amidst the crisis period is expected to boost the market growth despite the occurrence of COVID-19 disaster.
Leading Players in the Display Panel Market:
Top 10 Key Players Profiled in the Report are:
- LG Electronics.
- Hannstar display corporation
- Chunghwa Picture Tubes, Ltd.
- BOE Technology Group Co., Ltd
- Panasonic Corporation
- SHARP CORPORATION
- Japan Display Inc.
- Innolux Corporation
- AU Optronics Corp.
- SAMSUNG
The report offers several business policies and strategies of the leading players functioning in the market including latest strategic moves & developments, product/service range, business performance, and SWOT analysis. Click Here to Get Absolute Top Companies Development Strategies Summary Report
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