New York, USA, Sept. 14, 2022 (GLOBE NEWSWIRE) -- According to Research Dive’s latest report, the global display panel market is anticipated to rise at a stunning CAGR of 10.5%, thereby garnering a revenue of $1,19,339.1 million by 2027. This latest report by Research Dive provides a brief outlook of the contemporary architecture of the display panel market including its major characteristics like growth drivers, growth opportunities, restraints, and hindrances during the analysis period of 2019-2027. All the important market statistics are also provided in this report to help new market players gain insights into the market easily.
Dynamics of the Display Panel Market
Drivers: Increasing demand for OLED displays in various electronic devices like smartphones, laptops, televisions, etc. is predicted to be the primary growth driver of the display panel market in the forecast period. Additionally, heavy investments in the R&D of flexible displays are predicted to push the market forward.
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Opportunities: Overall increase in the demand for electronic devices is expected to offer numerous growth opportunities to the market in the analysis period. Moreover, increased investments by leading market players in the electronics sector are anticipated to augment the growth rate of the market.
Restraints: High cost of production of display panels may, however, restrain the growth of the display panel market.
Impact of Covid-19 on the Display Panel Market
The novel coronavirus pandemic and the resulting lockdowns have negatively impacted numerous manufacturing and service industries by hampering both the supply-side and demand-side supply chains. The display panel market, however, has been an exception. It faced a positive impact of the pandemic owing to the rise in work-from-home culture and growth in demand for smartphones. However, the shutdown of manufacturing industries did affect the market negatively to some extent.
Segments of the Display Panel Market
The report has fragmented the display panel market into certain segments based on type, product type, application, and region.
Type: OLED Sub-segment to Have the Highest Market Share
By type, the OLED sub-segment is expected to have a dominant market share and grow with a CAGR of 13.9% by 2027. Increased demand for OLED screens in manufacturing various electronic items such as smartphones, televisions, etc. is expected to propel the growth of this sub-segment.
Product Type: Flexible Sub-segment to be the Most Dominant
By product type, the flexible sub-segment is expected to have a dominant market share and rise with a CAGR of 11.7% by 2027. Advantages such as better durability, lightweight, thin dimensions, etc. have increased the demand for flexible panels, which is anticipated to push the sub-segment forward.
Application: Smartphones and Tablet Sub-segment to be the Most Profitable
By application, the smartphones and tablet sub-segment is predicted to have the highest market share and surge with a CAGR of 9.9% in the forecast period. A massive increase in the demand for smartphones is expected to help in the growth of this sub-segment.
Region: Display Panel Market in Asia-Pacific Region to be the Most Lucrative
By regional analysis, the display panel market in the Asia-Pacific region is projected to observe the fastest growth and rise with a CAGR of 12.5% in the forecast period. The presence of large manufacturing units and the increasing pace of technology adoption are the two main factors which are expected to drive the market in this region.
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Prominent Display Panel Market Players
Some leading market players in the display panel market are
- Chunghwa Picture Tubes, Ltd.,
- Hannstar display corporation
- Panasonic Corporation
- BOE Technology Group Co., Ltd,
- Japan Display Inc.
- SHARP CORPORATION
- AU Optronics Corp.
- Innolux Corporation
- SAMSUNG
- LG Electronics, among others.
These players are adopting various business strategies like mergers, acquisitions, and collaborations to gain a leading position in the global market. – Purchase Inquiry
For instance, in September 2020, BOE, a leading electronics company, announced the acquisition of CEC Panda LCD fabs. CEC Panda is a leading Chinese electronics company and this acquisition by BOE is expected to help the company immensely in the coming period as it will strengthen the company’s display technology portfolio.
Finally, the Research Dive report also summarizes many crucial aspects of the display panel market including the financial performance of the key players, SWOT analysis, latest strategic developments, and product portfolio.
More about Display Panel Market:
- Display Panel Market Propelling with the Stunning Innovations and Features
- Choosing the Right Display Panel for Better Gaming Experience and COVID-19 Impact on the Market
