The global next-generation display market was valued at around USD 218.48 billion in 2022 and is projected to reach USD 591.41 billion by 2031, expanding at a CAGR of around 11.7% during the forecast period, 2023 – 2031. The growth of the market is attributed to the rising demand for large screen TVs as well as smart TVs.
The next-generation display is a modern technology that offers advanced features and properties to enhance display functions and resolutions. The next-generation display offers improvement to LCD and plasma technology and has certain advantages such as low power consumption.
The display is adopted to enhance the existing consumer products including mobile phones, by offering a higher performance along with helping in the development of devices including e-readers. Since it offers excellent properties including higher thermal resistance, these displays are preferred as alternative for the television screens, computer monitors, and others.
As these displays have low maintenance cost, they are adopted for advertisement of billboards. Various developments in nanotechnology and optoelectronics have enhanced the display technology besides offering other key features including better display quality, high resolution, and improved backlight by consuming less energy.
This display especially 4K technology is mainly used in film shooting of the motion pictures and scanning 35 mm film in digital format. The portfolio of 4K technology comprises of several products such as digital cameras, smart TVs, projectors, camcorders, smartphones & tablets, monitors, and others. Moreover, these products are used in several industries including entertainment, consumer electronics, aerospace & defense, retail & advertisement, business & education, and others.
Market Trends, Drivers, Restraints, and Opportunities
Changing trends in display market such as higher demand for display having wider viewing angles, higher resolution, and slim & flexible products are some key drivers projected to fuel the market.
Rising demand for green products and energy efficient display solutions owing to the environmental issues is expected to propel the market growth.
Increasing usage of higher resolution images by cinematographers is expected to expand the market growth.
High cost of next-generation displays as compared to other technology including LCD and plasma displays are major restraining factors that can hamper the market growth in the coming years.
Massive R&D investment from key players to help in development of innovative display solutions are offering various opportunities for the market expansion.
Scope of the Report
The report on the global next-generation display market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Next-Generation Display Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Products (Mid-air, Flexible, Double-sided, 2D One-sided, Three-dimensional, and Transparent Display), Ingredients (Quantum Dots, Carbon Nanotubes (CNT), and Nanomaterials), Applications (Industrial, Consumer Electronics, Mobile Phones, Medical, E-reader, TV/Monitors, Defense & Aerospace, Automotive, Movie/Entertainment, and Advertising & Public Display)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Kyocera, Philips, Nova, Samsung Electronics, Sony, Universal Display Corporation (UDC), Add-Vision Inc., Aja Video Systems, Apple Inc., Canon Inc., Au Optronics Corp., Dupont, Fogscreen Inc., GELumination LLC, Irex Technologies Bv, LG Display, Mechdyne Systems Inc., Nemoptic, Optotek Ltd., Pioneer, Planar Systems Inc., Plastic Logic Inc., Proscreen Inc., Ritdisplay Corporation, Seiko Epson Corp., TdVision Systems Inc., and Toshiba Mobile Display Co. Ltd.
Global Next-Generation Display Market Segment Insights
2D one-sided segment is anticipated to account for a large market share
Based on products, the market is classified into mid-air, flexible, double-sided, 2D one-sided, three-dimensional, and transparent display. The 2D one-sided segment is anticipated to account for a large market share during the coming years owing to wide adoption of the technology for various display products including consumer electronic items.
Meanwhile, the flexible segment is anticipated to constitute a major market share during the forecast period owing to high use of display technology in several electronic items. Flexible displays are widely adopted in the manufacturing of smartphones, wearable items such as smart watch and others.
Nanomaterials segment is estimated to dominate the market
On the basis of ingredients, the next-generation display market is divided into quantum dots, carbon nanotubes (CNT), and nanomaterials. The nanomaterials segment is estimated to dominate the market during the forecast period owing to the increasing usage of organic ink nanoparticles in displays. Production of advanced electronic ink fabrication technology that provide e-paper with higher brightness, lower manufacturing cost, and good contrast ratio are key driving factors for the segment growth.
Industrial segment is expected to account for a large market share
Based on applications, the market is segmented into industrial, consumer electronics, mobile phones, medical, e-reader, TV/monitors, defense & aerospace, automotive, movie/entertainment, and advertising & public display. The industrial segment is expected to account for a large market share during the analysis period owing to the growing usage of touchscreen and 2D one-sided OLED displays in the industrial sector.
On the other hand, the defense & aerospace and consumer electronics segments are projected to register a substantial growth rate in the coming years due to the wide application of 4K technology-based products in these sectors.
Asia Pacific is anticipated to dominate the market
In terms of regions, the global next-generation display market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is anticipated to dominate the market during the forecast years in terms of revenue owing to the rapid establishment of several production units of major electronic companies due to the lower labor costs and rising government initiatives in this region.
The region is one of the largest markets for LED and OLED supplier-base, which helps in manufacturing of cost-effective displays. On the other hand, Europe is expected to hold a large market share owing to the huge consumer base for next-generation display products. This makes the region one of the most attractive markets for the display products.
The global next-generation display market has been segmented based on
- 2D One-sided
- Transparent Display
- Quantum Dots
- Carbon Nanotubes (CNT)
- Consumer Industrial
- Mobile Phones
- Defense & Aerospace
- Advertising & Public Display
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Add-Vision Inc.
- Aja Video Systems
- Apple Inc.
- Canon Inc.,
- Au Optronics Corp.
- Fogscreen Inc.
- GELumination LLC
- Irex Technologies Bv
- LG Display
- Mechdyne Systems Inc.
- Optotek Ltd.
- Planar Systems Inc.
- Plastic Logic Inc.
- Proscreen Inc.
- Ritdisplay Corporation
- Seiko Epson Corp.
- TdVision Systems Inc.
- Toshiba Mobile Display Co. Ltd.
- LG Philips
- Samsung Electronics
- Universal Display Corporation (UDC)
Some major participants competing in the global next-generation display market include Kyocera, Philips, Nova, Samsung Electronics, Sony, Universal Display Corporation (UDC), Add-Vision Inc., Aja Video Systems, Apple Inc., Canon Inc., Au Optronics Corp., Dupont, Fogscreen Inc., GELumination LLC, Irex Technologies Bv, LG Display, Mechdyne Systems Inc., Nemoptic, Optotek Ltd., Pioneer, Planar Systems Inc., Plastic Logic Inc., Proscreen Inc., Ritdisplay Corporation, Seiko Epson Corp., TdVision Systems Inc., and Toshiba Mobile Display Co. Ltd.
These leading market players are using strategies including merges, acquisition, new launches, and product development to build their strong position in the market. The R&D and innovation are the key strategies that contribute to the market growth.
In April 2020, Apple Inc. launched its second-generation iPhone SE, which offers with a 4.7-inch retina HD display coupled with touch ID for industry-leading security. The iPhone SE is built in a compact design, reinvented from the inside out which makes it the most inexpensive iPhone.
It is operated by the A13 Bionic, which is considered to be the fastest chip used to handle the most challenging tasks. It also comprises one of the best single-camera systems ever in an iPhone, which unlocks the advantages of computational photography such as portrait mode and is designed to withstand the elements with water and dust resistance.
On 14th April 2021, Samsung launched the Galaxy Quantum 2. The smartphone comes along with a 6.70-inch touchscreen display and a resolution of 1440 pixels by 3200 pixels. It comprises 128GB of internal storage which can be expanded to 1TB using a microSD card.