New York, June 12, 2023 (GLOBE NEWSWIRE) -- The low-power next-generation displays market is expected to be worth US$ 232.0 million by 2032. From 2022 to 2032, a CAGR of 6.1% is anticipated. The global market displayed a valuation of US$ 128.3 million in 2022.
Customers now anticipate their portable electronics such as laptops, tablets, and smartphones, to have longer battery lives. Low power displays contribute to reducing energy use, increasing battery life, and improving user experience. It is probably going to increase demand for low power next-generation displays.
Demand for low power displays has increased as wearable technologies such as smartwatches and fitness tracklers become more and more popular. These gadgets must preserve power in order to provide continuous use since they are frequently worn throughout the day.
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Sales of wearable fitness trackers are predicted to increase as personal health and wellness receive more attention. These trackers are getting immensely popular as people in today's society take a more proactive approach to tracking and enhancing their levels of fitness.
Fitness trackers' accuracy has increased thanks to the incorporation of cutting-edge technology, including low power next generation displays, which will increase demand.
With several networked devices, the internet of things (IoT) has become a key technical trend that necessitates energy-efficient solutions. Low power displays are essential for Internet of Things (IoT) devices as they allow for prolonged operation without regular battery replacement or recharge. Hence, it is anticipated that it will sustain their demand.
Environmental sustainability is becoming more and more important worldwide. Low power displays support the global quest for greener technologies by consuming less energy, resulting in smaller carbon footprints.
Thinner and lighter devices are now possible thanks to developments in display technology. Low power screens allow designers to make svelte, transportable products while preserving premium aesthetics and functionality, which increases demand.
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Key Takeaways from Low Power Next Generation Display Market Study:
- The global low power next generation display industry registered a CAGR of around 7.0% in the historical period.
- The United States low power next generation display industry is expected to be worth US$ 36.5 million by 2032.
- The United Kingdom low power next generation display industry is expected to be valued at US$ 5.9 million by 2032.
- China low power next generation display industry is set to surpass a value of US$ 58.3 million in 2032.
- By type, the OLED low power next generation display segment is expected to expand at a CAGR of 6.0% from 2022 to 2032.
“Energy-efficient devices have become more popular as environmental sustainability and need to consume less energy become more widely recognized. Low power displays have become extremely important in lowering power consumption and carbon footprints, which is set to surge demand for them.” – Says a lead analyst at Persistence Market Research (PMR).
Competitive Landscape
The market for low power next generation displays is well-represented by top display producers such as Sharp, LG, and Samsung Display. To create and manufacture low power next generation displays, they would make use of their significant knowledge, strong manufacturing skills, and research & development investments.
The semiconductor business would also be significantly impacted by firms such as Qualcomm, Intel, and MediaTek. They would collaborate with display makers to create integrated solutions, supplying power-efficient display drivers, system-on-chips (SoCs), and other technologies relevant to displays.
Numerous start-ups and small businesses are actively innovating in the field of low power displays. In order to carve out niches within the larger sectors, they are concentrating on creating specialized technologies such as e-ink displays for e-readers, reflective displays for smartwatches, or energy-efficient LCD panels for IoT devices.
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Top Companies are: LG Display, Samsung SDI, Sony, Panasonic, Qualcomm, Philips, Motorola, Planar Systems, Universal Display Corporation, Novaled, GE Lumination, Toshiba Mobile Display
For instance,
- February 2021, JOLED collaborated with Rosen Aviation, an in-flight entertainment solutions provider, to develop and commercialize low power OLED displays for the aviation sector. The partnership aimed to enhance passenger experience while reducing power consumption in aircraft displays.
Get More Exclusive Insights into Low Power Next Generation Display Market Study
Persistence Market Research (PMR), in its new offering, presents an unbiased analysis of the low power next generation display market, presenting historical market data (2017 to 2021) and forecast statistics for the period of 2022 to 2032.
The study reveals extensive growth in the low power next generation display industry in terms of type (quantum dot display (QD-LED), field emission display (FED), laser phosphor display (LPD), organic light-emitting diode (OLED), organic light-emitting transistor (OLET), and surface-conduction electron-emitter display (SED)), application (consumer electronics, home appliances, advertising, public display, automation, aviation), and regions.
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