PUBLISHER: Allied Market Research | PRODUCT CODE: 1473644
PUBLISHER: Allied Market Research | PRODUCT CODE: 1473644
The global display market was valued at $124.14 billion in 2022, and is projected to reach $243.98 billion by 2032, registering a CAGR of 7.06% from 2023 to 2032.
A display refers to an electronic device that presents visual information generated by a computer or other electronic device. It encompasses a wide range of technologies including LCD (Liquid Crystal Display), OLED (Organic Light-Emitting Diode), LED (Light-Emitting Diode), and others, utilized in various applications such as televisions, computer monitors, smartphones, tablets, and automotive dashboards.
In recent years, the display industry has witnessed several notable trends. One significant trend is the increasing demand for displays in developing regions, propelled by the rising popularity of touch-based devices and the integration of electronic components into automobiles. Additionally, there's a growing emphasis on innovative display technologies, such as flexible displays, which offer new possibilities for device design and user experience enhancement.
The rise of OLED displays in smartphones, coupled with substantial government funding for the development of new OLED and LCD panel production facilities, stands as a primary driver expected to propel market growth. Additionally, factors such as the increasing demand for 4K and 8K displays, driven by the availability of UHD content, and the deployment of advanced display systems in automotive vehicles further contribute to market expansion.
Despite significant advancements in display technology, several challenges continue to hinder market growth, particularly the logistical and technical difficulties associated with replacing large-sized displays such as projectors and screen-less displays. These challenges include high costs, complex installation processes, and the need for specialized maintenance, which can be cumbersome for both businesses and consumers.
However, emerging applications like holographic displays offer immersive experiences in entertainment, advertising, and education, driving demand for innovative display technologies. Smart mirrors equipped with integrated displays serve as interactive hubs for personalized grooming routines, virtual try-on experiences, and health monitoring, creating new avenues for customer engagement in retail and beauty industries. Moreover, the integration of displays into smart home appliances enhances convenience and connectivity, allowing users to monitor and control their devices remotely. These advancements not only enhance user experiences but also create opportunities for market development by catering to evolving consumer preferences for seamless integration of technology into daily life.
Acknowledging the potential in the automotive sector, LG Display, for instance, has announced plans to manufacture a head-up display system tailored for cars. This portable, transparent, and flexible display system promises diverse functionalities, reflecting the industry's efforts to meet evolving consumer needs.
The display market is segmented on the basis of display type, technology, application, industry vertical, and region. By display type, the market is divided into flat panel display, flexible panel display, and transparent panel display. By technology, it is classified into OLED, quantum dots, LED, electronic paper, LCD, and others. By application, it is categorized into smartphones & tablets, smart wearables, televisions & digital signage, PCs & laptops, vehicle display, and others. By industry vertical, the market is segregated into healthcare, consumer electronics, retail, BFSI, military & defense, transportation, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAME.
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