Austin, United States, Dec. 02, 2024 (GLOBE NEWSWIRE) -- Market Size & Growth Analysis:
The SNS Insider report indicates that,“The Electronic Display Market Size was valued at USD 161.40 Billion in 2023, and is projected to grow at a robust CAGR of 3.36%, reaching USD 216.46 Billion by 2032.”
"Unprecedented Growth and Innovation in the Electronic Display Market"
The electronic display market is experiencing unprecedented growth across multiple industries, driven by its critical role in communication, monitoring, and enhancing user experiences. From consumer electronics like smartphones and smartwatches to automotive and industrial applications, displays are indispensable for their ability to deliver vivid visuals and interactive features. In 2024, there are approximately 7.21 billion smartphones in use globally, with China, India, and the United States leading the numbers at 1,000 million, 650 million, and 280 million users respectively. The smartwatch market is similarly dynamic, boasting 228 million users in 2024 and projected to grow to 231 million by 2026, with nearly 200 million units shipped annually.
Manufacturers are continually innovating with technologies like OLED, micro-LED, and QLED displays to meet growing consumer demands for high-quality visuals. The rise of ultra-high-definition (4K and 8K) displays is creating new opportunities in entertainment and gaming, where immersive experiences are increasingly valued. Enhanced display technologies are also pivotal in applications such as digital signage, automotive dashboards, and industrial control systems, further solidifying the market’s expansion.
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Dominant Market Players with their Products Listed in this Report are:
- Samsung Electronics (QLED TV, OLED Display Panels)
- LG Display (OLED TVs, Transparent OLED Panels)
- Sony Corporation (BRAVIA OLED TVs, Crystal LED Display System)
- BOE Technology Group (Flexible OLED Panels, LCD Panels)
- Panasonic Corporation (4K UHD TVs, Automotive Display Panels)
- AU Optronics (AMOLED Displays, TFT-LCD Panels)
- Sharp Corporation (IGZO Display Panels, AQUOS TVs)
- TCL Technology (Mini-LED TVs, QLED Displays)
- Innolux Corporation (LCD TV Panels, Medical Display Panels)
- Hisense (ULED TVs, Laser Display Technology)
- Kyocera Corporation (Industrial LCD Displays, Ruggedized Touch Panels)
- Leyard Optoelectronic (LED Video Walls, MicroLED Displays)
- ViewSonic Corporation (Projectors, LED Monitors)
- Barco NV (LED Video Walls, High-Resolution Projectors)
- Planar Systems (LED Video Walls, Transparent OLED Displays)
- JDI (Japan Display Inc.) (LTPS LCD Panels, Automotive Display Panels)
- Acer Inc. (LED Monitors, Gaming Displays)
- ASUS (Gaming Monitors, OLED Laptops)
- Vizio Inc. (Smart TVs, Quantum LED TVs)
- Apple Inc. (Retina Displays, Pro Display XDR).
Rising Demand for High-Resolution and Advanced Displays
The growing demand for high-resolution and advanced display technologies is a significant driver of the electronic display market. Consumers increasingly expect vibrant visuals, superior contrast, and energy-efficient solutions in devices such as smartphones, TVs, and monitors. The proliferation of 4K and 8K displays, along with OLED and micro-LED advancements, caters to these expectations while fostering adoption across entertainment, gaming, and professional sectors. This trend is set to continue as manufacturers prioritize innovation to enhance visual quality and functionality.
"Segment Analysis: Uncovering Critical Growth Areas in the Competitive Market Landscape"
By Technology: The LCD segment dominated with a 38% market share in 2023, largely due to its affordability, energy efficiency, and adaptability. LCDs are integral to devices like TVs, computer monitors, and car displays. Established manufacturing infrastructure for LCDs allows for cost-effective production compared to newer technologies. Companies such as Samsung and LG extensively utilize LCDs for TVs and monitors, while Apple incorporates them in select iPad models.
By Application: Consumer electronics dominated the electronic display market with a 55% market share in 2023. The widespread adoption of HD and UHD screens has elevated consumer expectations for enhanced visual experiences. The integration of OLED and AMOLED technologies, known for superior color accuracy and energy efficiency, further boosts this segment. Leading brands like Samsung and Apple have leveraged these advancements in flagship products, including the Galaxy series and iPhones.
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Key Market Segments:
By Technology
- LCD
- LED
- OLED
- Others
By Application
- Consumer Electronics
- Digital Signage
- Automotive Display
- Others
By End User
- Retail
- Entertainment
- Corporate
- Healthcare
- Government
"Regional Dynamics and Growth Trends in the Global Market: A Comprehensive Analysis"
Asia-Pacific held a 42% market share in 2023, driven by robust manufacturing capabilities and a vast consumer base. Countries like China, Japan, and South Korea are home to industry giants such as Samsung Electronics, LG Display, and BOE Technology, which significantly influence global trends. Rising demand for smartphones, TVs, and gaming monitors, particularly in growing markets like India and Southeast Asia, further reinforces the region's dominance.
North America is anticipated to grow the fastest CAGR during 2024-2032, supported by the rising adoption of OLED, micro-LED, and quantum dot displays. The demand for high-resolution screens in consumer electronics and advancements in digital signage for retail and hospitality drive this growth. Major tech players like Apple and Google are pivotal in innovating and adopting advanced display technologies, fueling regional market expansion.
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Recent Developments
- In June 2024, Samsung Electronics America introduced new MICRO LED models, including the MS1B (89”, 101” class) and MS1C (114” class screen size). Samsung's latest display technology, MICRO LED, offers unmatched depth, vibrant colors, and stunning brightness in a sleek and modern design, making it the perfect centerpiece for upscale residences.
- In January 2024, LG Display, the top developer of display technologies globally, revealed that it will introduce its newest OLED products utilizing innovative technology at CES 2024, which will transform customer experiences.
- In September 2024, BOE Technology unveiled its flexible micro-LED panels for wearables and upcoming smartphones.
Table of Contents - Key Points Analysis
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Electronic Display Volume of Units Sold, by Region (2023)
5.2 Electronic Display Adoption Rates, by Region
5.3 Innovation Metrics
5.4 Supply Chain Metrics
6. Competitive Landscape
7. Electronic Display Market Segmentation, by Technology
8. Electronic Display Market Segmentation, by Application
9. Electronic Display Market Segmentation, by End User
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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