Global Displays Market

Displays Market Outlook 2031:

The global displays market size was valued at USD 152.46 Billion in 2022 and is projected to reach USD 207.79 Billion by 2031, expanding at a CAGR of 3.5% during the forecast period 2023 - 2031. Displays are quick in executing color and organic liquid crystal display and light emitting diode interfaces, with features such as a non – touch screen and touch screen, as well as a smart graphical user interface.

It is made up of software and hardware, and the functionality of displays is determined by embedded software. It is also widely utilized in consumer electronic devices such as computers, televisions, laptops, tablets, and smart watches. The introduction of modern technology allows for improved visualizations in a variety of industry verticals, including retail, consumer electronics, transportation, sports & entertainment, and others.

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Displays Market Trends, Drivers, Restraints, and Opportunities:

• Rising need for OLED display devices and increasing trend of touch-based devices are expected to boost the displays market.
• Increasing adoption for display-based medical devices, such as respirators and ventilators, as a result of the COVID-19 outbreak, is one of the market's key driving factors.
• Growing use of automated equipment and deployment of displays in 3D systems is boosting the market.
• Increasing demand for improved connectivity, safety, and convenience in automobiles is projected to propel the market.
• The expensive cost of most recent display technologies, such as quantum dot displays and transparent panels, is hindering the displays market growth.
• Decreasing demand for commercial displays as a result of a significant move toward online shopping and advertising hampers the displays market expansion.
• Rising popularity of flexible and foldable display devices is estimated to provide substantial growth opportunities in the display market. 

Scope of Displays Market report:

The report on the displays market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Displays Market Segment Insights:

The flexible panel display segment is projected to hold significant market share

Based on display types, the display market share can be segmented into flat panel display, transparent panel display, and flexible panel display. The flexible panel display segment is projected to hold significant market share. The flexible display technology offers several advantages such as flexible nature, light weight, low power consumption, brightness, and shatter-proof.

These displays are found in a variety of consumer electronics gadgets. The rise in demand for consumer electronics, particularly televisions, smartphones, PCs, smart wearable devices, and other display devices, drives the segment.

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The smartphones segment is anticipated to account for a substantial share

On the basis of product types, the displays market share can be segregated into automotive displays, digital signage/large format displays, pc, monitors & laptops, smart wearable, smartphones, tablets, television sets, and others. The smart wearable segment is further divided into AR HMD, VR HMD, and smart watch. The smartphones segment is anticipated to account for a substantial share, owing to rising use of flexible and OLED displays.

Shipments of high-priced foldable OLED displays are rapidly expanding, and this trend is projected to continue during the projected period. The smart wearable segment is estimated to expand at a robust pace in the coming years. The need for these devices is expanding, and with the widespread use of AR/VR technologies, the demand for smart wearable is predicted to rise exponentially over the forecast period.

The LCD segment is projected to register a substantial growth rate during the forecast period

In terms of technology, the display market can be fragmented into e-paper, LED, OLED, LCD, quantum dot, and others. The LCD segment is projected to register a substantial growth rate during the forecast period. LCD technique has been increasingly used in display products. LCD-based devices are currently used in a variety of industries, including corporate offices, retail, and banks.

LED segment is anticipated to expand at a rapid pace in the near future. LED technology advancements and its powerful nature are pushing the demand for this technology. 

The small & medium-sized panels segment is expected to expand at a high CAGR during the projected timeline

Based on display sizes, the market can be divided into micro displays, large panels, and small & medium-sized panels. The small and & medium-sized panels segment is expected to expand at a healthyhigh CAGR  growth rate during the projected timeline, owing to widespread use of smart display devices in the automotive and smart home sectors, where small displays are preferred over bigger displays, which is a primary driver of the segment.

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The automotive segment is anticipated to hold substantial market share

On the basis of verticals, the display market share can be segregated into automotive, consumer, defense & aerospace, education, healthcare, sports & entertainment, industrial & enterprise, retail, hospitality, & BFSI, transportation, and others.

The automotive segment is anticipated to hold substantial market share. In the future, the display market is projected to focus on flexible displays, which are light, thin, and less likely to break than conventional displays. As a result, flexible screens are predicted to both generate and replace new display technologies.

Asia Pacific is expected to dominate the market

In terms of regions, the market can be classified as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate the market, due to increasing amount of display panel production plants and rapid use of OLED displays. Asia Pacific has a low labor cost, which lowers the overall production costs of display screens.

This has enticed a number of corporations to locate new LCD and OLED panel production plants in this region. Furthermore, increased display device used in many industries, particularly in countries such as India, China, and South Korea, is a key factor boosting the market.

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Segments

Segments Covered in the Report:

By Display Types

• Flat Panel Display
• Transparent Panel Display
• Flexible Panel Display

By Product Types

• Automotive Displays
• Digital Signage/Large Format Displays
• PC Monitors & Laptops
• Smart Wearable
  • AR HMD
  • VR HMD
  • Smart watch
• Smartphones
• Tablets
• Television Sets
• Others

By Technology

• E-paper
• LED
• OLED
• LCD
• Quantum Dot
• Others

By Panel Sizes

• Micro displays
• Large Panels
• Small and Medium-sized Panels

By Verticals

• Automotive
• Consumer
• Defence & Aerospace
• Education
• Healthcare
• Sports & Entertainment
• Industrial & Enterprise
• Retail, Hospitality, and BFSI
• Transportation
• Others

By Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

By Key Players

• Sharp
• Leyard Optoelectronic
• Panasonic Corporation
• Amazon.com, Inc
• Samsung
• Sony
• LG Electronics
• Gentex
• Alpine Electronics
• Sharp Corporation
• Manga International Inc.
• Japan Display Inc

Competitive Landscape

Key players in the display market include Sharp; Leyard Optoelectronic; Panasonic Corporation; Amazon.com, Inc; Samsung; Sony; LG Electronics; Gentex; Alpine Electronics; Sharp Corporation; Manga International Inc.; and Japan Display Inc.

These players are widely engaged in various market development strategies such as collaborations, agreements, mergers & acquisitions, production capacity expansion, new product launches, and partnerships to increase their market share.