Austin, Jan. 09, 2025 (GLOBE NEWSWIRE) -- Market Size & Growth Analysis:
The SNS Insider report indicates that,“The Flat Panel Displays Market Size was valued at USD 151.4 Billion in 2023 and is expected to reach USD 233.90 Billion by 2032 and grow at a CAGR of 4.98% over the forecast period 2024-2032.”
"Rising Demand for High-Quality Displays Drives Innovation in Flat Panel Display Market"
As smartphones, TVs, and laptops become increasingly central to daily life, consumers are seeking better display quality, prompting manufacturers to innovate with OLED, Quantum Dot, and Micro-LED technologies. These advancements enhance image clarity, energy efficiency, and flexibility, meeting the growing demand for vivid, detailed visuals. The global shipment of OLED panels reached 225 million units in 2023, with Quantum Dot technology expected to capture 25% of the LCD TV market by 2024. The automotive and healthcare sectors are also contributing to demand, with digital displays used in automotive dashboards and medical equipment for precise diagnostics. The shift toward 4K resolution and improved displays in wearables and digital signage further underscores the market's growth.
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Dominant Market Players with their Products Listed in this Report are:
- Samsung Electronics Co. Ltd (QLED TVs, OLED Displays)
- LG Display Co. Ltd (OLED TVs, LCD Panels)
- Sony Corporation (Bravia OLED TVs, LCD TVs)
- AU Optronics Corp. (LCD Panels, OLED Displays)
- Panasonic Corporation (OLED TVs, Plasma Displays)
- Toshiba Mobile Display Co. Ltd (LCD Panels, OLED Screens)
- Chimei Innolux Corporation (LCD Panels, Touch Displays)
- Emerging Display Technologies Corp. (LCDs, OLEDs)
- Japan Display Inc. (LCD Displays, OLEDs)
- Universal Display Corporation (OLED Technology, Phosphorescent OLEDs)
- Clover Display Limited (LCD Displays, Touch Screens)
- Densitron Technologies PLC (Industrial Displays, Touch Screen Monitors)
- Chunghwa Picture Tubes Ltd. (LCD Panels, LED Displays)
- Optronics Corp. (LCDs, OLEDs)
- Sharp Corporation (Aquos LCD TVs, IGZO Displays)
- Innolux Corporation (LCD Panels, Touch Displays)
- Taiwan Semiconductor Manufacturing Company (TSMC) (Display Driver ICs, Advanced Panel Technologies)
- BOE Technology Group Co. Ltd (LCD Panels, AMOLED Displays)
- Rohm Semiconductor (Display Drivers, Power Management ICs)
- E Ink Holdings Inc. (E-Paper Displays, Flexible Displays).
Flat Panel Display Market Growth: Technology, Application, and End-Use Trends Driving the Future
By Technology
In 2023, LCD technology led the market with a 32% share, thanks to its maturity and cost-effectiveness across various applications, including consumer electronics, automotive displays, and industrial uses. LCDs have long been favored for their balance of affordability, energy efficiency, and satisfactory picture quality.
OLED technology is expected to experience the fastest growth from 2024 to 2032. This surge is driven by OLED's superior performance, including deeper blacks, higher contrast ratios, and faster response times. Additionally, the rising demand for UHD televisions, smartphones, and wearables, along with improved manufacturing processes and lower production costs, is fueling OLED adoption.
By Application
In 2023, smartphones and tablets held a 36% market share, driven by their ubiquity and essential role in daily life, offering portability, connectivity, and continuous improvements in processor speeds, HD rendering, and design.
The smart wearable segment, however, is expected to grow at the fastest rate from 2024 to 2032, fueled by rising consumer interest in health and fitness tracking, IoT expansion, and advancements in wearable technology. Features like heart rate monitoring and sleep tracking, along with smartphone integration, are enhancing the user experience and driving adoption.
By End Use
In 2023, the automotive sector held the largest market share at 27% and is expected to grow the fastest from 2024 to 2032. This growth is driven by rising demand for in-car technologies like infotainment systems, navigation aids, and safety features, along with the shift toward electric vehicles and sustainability.
The adoption of advanced technologies such as autonomous driving and connected vehicle platforms is also fueling demand. Additionally, urbanization and consumer preferences for smarter, greener, and more transportation that is connected are pushing the automotive industry ahead.
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Key Market Segments:
By Technology
- OLED
- Quantum Dot
- LED
- LCD
- Others
By Application
- Smartphone and Tablet
- Smart Wearable
- Television and Digital Signage
- PC and Laptop
- Vehicle Display
- Others
By End Use
- Healthcare
- Retail
- BFSI
- Military and Defense
- Automotive
- Others
Regional Market Dynamics: North America's Strength and Asia Pacific's Rapid Growth
In 2023, North America captured 36% of the market share, driven by its advanced technological infrastructure, high consumer spending on tech products, and a strong focus on innovation. The region’s investment in electric vehicles, led by companies like Tesla, is further fueled by government policies promoting clean energy and emissions reduction.
Asia-Pacific is expected to grow at the fastest rate from 2024 to 2032, supported by rapid urbanization, rising incomes, and a growing middle class in China and India. China, the world’s largest EV market, and the resurgence of smart manufacturing in Japan and South Korea are propelling technological advancements, reshaping the global market landscape.
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Recent Development
- December 2024: Rebound in Large OLED TV Demand for large OLED screens has surged, prompting Samsung and LG to increase production ahead of the 2024 Summer Olympics. After years of slow growth, the shift marks a positive turn for South Korea’s display makers.
- November 10, 2024: LG Display Develops World’s First Stretchable Display LG Display unveiled the world's first stretchable display, capable of expanding by 50%, at a demonstration in Seoul. The 12-inch prototype can stretch to 18 inches while maintaining high resolution and durability, with potential applications in industries like fashion, wearables, and automotive.
- September 5, 2024: BOE Expands OLED Production with New Investment BOE Technology Group announced a 63 billion yuan investment to build a new AMOLED production line in Chengdu, focusing on high-end touchscreens for laptops and tablets. This expansion aims to strengthen its position in the growing OLED market, where it ranks second globally behind Samsung.
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 Flat Panel Displays Technology Adoption Rates, by Region, (2020-2023)
5.2 Flat Panel Displays Energy Consumption, by Region, (2020- 2023)
5.3 Flat Panel Displays Supply Chain Metrics, by Region
5.4 Flat Panel Displays Content Engagement Metrics, by Region (2023)
6. Competitive Landscape
7. Flat Panel Displays Market Segmentation, by Technology
8. Flat Panel Displays Market Segmentation, by Application
9. Flat Panel Displays Market Segmentation, by End Use
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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