WELLESLEY, Mass., April 19, 2018 (GLOBE NEWSWIRE) -- The increasing demand for consumer electronic devices and the expanding economies of Asia-Pacific are key factors driving growth in the global market for thin film transistors. In a new report, Thin Film Transistors: Global Markets to 2022, BCC Research estimates this market will reach $230.0 million by 2022 from $105.0 million in 2017, indicating a compound annual growth rate (CAGR) of 17.0%.
Thin film transistor (TFT) technology is largely used in flat-panel displays found in smartphones, computers, televisions and laptops. The technology has revolutionized the video system, enabling the manufacture of large-dimension flat-panels. For example, 164-inch diagonal dimension substrates are today used for TFT LCD fabrication. Stability of processes for large-scale fabrication, an improved semiconductor layer and the development of processing equipment to manufacture large devices are advancing thin film transistor technology.
TFT technology is also being investigated for use in X-ray detection, microelectronic devices, chemical sensing and biochemical sensing. The technology offers advantages such as low cost, low power consumption, better response time, and faster refresh rate. Key opportunities for the market exist in robotics, flexible electronics and medical science. The superior growth potential in emerging economies is also expected to drive market growth.
Research Highlights
- Factors such as poor color reproduction, quality variability and poor viewing angle are growth restraints.
- The types of thin film transistors available are amorphous silicon TFTs, polysilicon TFTs, metal oxide TFTs, organic TFTs and others.
- North America is expected to continue to dominate the revenue share, with a value of $83 billion in 2022.
“In the last 20 years, technology has advanced at an accelerating pace,” said Mayank Jain, BCC Research analyst and author of the report. “There is greater demand for gadgets such as TVs, mobile phones, desktops, and tablets. With the introduction of technology in each field there is greater demand for such products, which in turn, is expected to boost the demand of thin film transistors. The increase in disposable income is expected to boost the sales of display products. With the advance of technology, there is a greater demand for smartphones and laptops among all sectors of society, which is driving the growth of the thin film transistors market.”
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.