The flat panel display market size was valued at USD 159.28 Billion in 2022 and is projected to reach USD 218.98 Billion by 2031 , expanding at a CAGR of 3.6% during the forecast period, 2023 – 2031. The growth of the market is attributed to the increasing number of technological advancements across the globe.
Flat panel display is an electronic device that projects information such as images, videos, texts, and other visual content. It is far lighter and thinner than traditional cathode ray tube television set. Flat panel displays utilize numerous technologies such as light emitting diode (LED), liquid crystal display (LCD), and organic light emitting diode (OLED). These displays are mostly utilized in consumer electronic devices such as TVs, laptops, tablets, smart watches, and smartphones.
Flat panel displays are non-brittle, extremely thin, lightweight, and requires less power than conventional television sets. The emergence of advanced technologies has made panel displays to in several industry verticals, which include consumer electronics, retail, sports & entertainment, and transportation.
Flat Panel Display Market Trends, Drivers, Restraints, and Opportunities
- Increasing use of LED displays for video wall, TVs, and digital signage applications drives the market growth.
- Rising technological advancements has increased flat panel displays penetration in the video games and entertainment industry, which spurs the growth of the market.
- Declining demand for displays from retail sector due to drastic shift toward online advertisement and shopping can impede the market growth.
- Growing demand for display-based medical equipment due to the COVID-19 pandemic, which includes ventilators and respirators, is one of the key driving factors for the flat panel display market.
- The hindrance in supply chain and manufacturing processes due to the pandemic impacted the growth of the market.
- Growing adoption of foldable and flexible displays is expected to provide the industry with potential growth opportunities during the forecast period.
Scope of Flat Panel Display Market Report
The report on the flat panel display market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Flat Panel Display Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Technology (OLED, Quantum Dot, LED, LCD, and Others), Applications (Smartphones & Tablets, Smart Wearables, Television and Digital Signage, PC & Laptops, Vehicle Displays, and Others), Industry Verticals (Healthcare, Retail, BFSI, Military & Defense, Automotive, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered
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LG Display Co., Ltd., SAMSUNG, Sharp Corporation, Japan Display Inc., Sony Electronics Inc., NEC Display Solutions, Ltd., Panasonic Corporation, AU Optronics Corp., E Ink Holdings Inc., Crystal Display Systems Ltd, Emerging Display Technologies, Innolux Corporation, UNIVERSAL DISPLAY, Clover Display Limited, Desintron UK Ltd, Chunghwa Picture Tubes, Ltd., and BOE Technology
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Flat Panel Display Market Segment Insights
Technology Segment Analysis
In terms of technology, the market is divided into OLED, quantum dot, LED, LCD, and Others. The LED segment is estimated to hold a significant share in the technology segment as LCD manufacturers are innovating the LED product line to sustain in the market. However, the OLED has various advantages over conventional display technologies such as its lightweight and flexible structure, enabling it to gain a major advantage over other segments.
Applications Segment Analysis
Based on applications, the market is divided into smartphones & tablets, smart wearables, television and digital signage, PC & laptops, vehicle displays, and others. The smartphones & tablets segment is estimated to hold a large share of the market during the forecast period.
The use of flat panel displays provides high quality, large size, and high resolution, which propels the demand for flat panel displays in this segment. The televisions and digital signage segment dominated the global flat panel display market in 2020, in terms of revenue. On the other hand, the PC & laptop segment is anticipated to exhibit a CAGR of around 8% during the forecast period.
Industry Verticals
On the basis of industry verticals, the market is segregated into healthcare, retail, BFSI, military & defence, automotive, and others. The automotive segment is anticipated to account for significant market share during the forecast period owing to demand for connected cars across the globe.
Regional Analysis
In terms of regions, the market is divided into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is anticipated to witness an impressive growth rate in the flat panel display market during forecast period. On the other hand, North America dominated the flat panel displays market in 2020 due to the adoption of advanced technologies coupled with the rising sale of flat panel displays in the corporate sector.
Segments
The global flat panel display market has been segmented on the basis of
Technology
- OLED
- Quantum Dot
- LED
- LCD
- Others
Application
- Smartphones & Tablets
- Smart Wearables
- Television and Digital Signage
- PC & Laptops
- Vehicle Displays
- Others
Industry Vertical
- Healthcare
- Retail
- BFSI
- Military & Defense
- Automotive
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players Covered
- LG Display Co. Ltd.
- SAMSUNG
- Sharp Corporation
- Japan Display Inc.
- Sony Electronics Inc.
- NEC Display Solutions Ltd.
- Panasonic Corporation
- AU Optronics Corp.
- E Ink Holdings Inc.
- Crystal Display Systems Ltd.
- Emerging Display Technologies
- Innolux Corporation
- UNIVERSAL DISPLAY
- Clover Display Limited
- Desintron UK Ltd
- Chunghwa Picture Tubes Ltd.
- BOE Technology
Competitive Landscape
The major players covered in the flat panel displays market are LG Display Co., Ltd., SAMSUNG, Sharp Corporation, Japan Display Inc., Sony Electronics Inc., NEC Display Solutions, Ltd., Panasonic Corporation, AU Optronics Corp., E Ink Holdings Inc., Crystal Display Systems Ltd, Emerging Display Technologies, Innolux Corporation, UNIVERSAL DISPLAY, Clover Display Limited, Desintron UK Ltd, Chunghwa Picture Tubes, Ltd., and BOE Technology.
Companies are engaging in partnerships, collaborations, and expanding their product offerings to expand their market share.
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