Next Generation Display Market Forecasts to 2030 - Global Analysis By Product, Material, Resolution, Display Technology, Ingredient, Application and By Geography

According to Stratistics MRC, the Global Next Generation Display Market is accounted for $275.09 billion in 2023 and is expected to reach $585.69 billion by 2030 growing at a CAGR of 11.4% during the forecast period. Next-generation displays are an improvement over LCD and plasma technology and use less power. Next-generation displays have improved existing products like mobile phones and supported the development of new products like e-readers because they offer higher performance. These displays are an excellent substitute for computer monitors, television screens, etc. because of their high thermal resistance.

According to LGD based on META technology, their latest OLED displays can achieve 60% brighter images and 30% wider viewing angles than conventional OLED displays. It can also achieve improved energy efficiency. Using Meta technology TV can have 2100nits peak brightness.

Market Dynamics:

Driver:

Improved visual clarity and resolution

The desire for an incredibly detailed visual experience is what drives consumers' hunger for higher-resolution displays, like 4K and 8K. In gaming, watching content, and using them professionally for things like video editing, these resolutions are especially prized. The production of movies and television, graphic design, and medical imaging all depend on improved color accuracy. Professionals can work with colors that are true to life on displays that have wider color gamuts, such as DCI-P3 and Adobe RGB. Moreover, displays using HDR technology can produce more lifelike and dynamic visuals because they offer a wider range of brightness levels. Greater realism in films and video games is achieved through the use of HDR, which is essential for recreating scenes with complex lighting.

Restraint:

Lack of standardization

With so many new display technologies emerging, there is frequently a lack of standardization among various manufacturers and product lines. This may cause compatibility problems and obstruct applications' seamless integration. Additionally, a lack of uniform standards can also make it difficult for devices to communicate with one another, which restrict the ecosystem's ability to grow and confuses consumers.

Opportunity:

Emerging VR and AR applications

In order to provide the realism necessary for immersive AR and VR experiences, next-generation displays are crucial. They make applications like virtual travel, architectural walkthroughs, and medical simulations more engaging and impactful by enabling users to feel present in virtual worlds. Moreover, VR headsets and AR glasses, which use cutting-edge displays to provide lifelike scenarios for medical training, flight simulations, and skill development in a variety of industries, benefit training and education.

Threat:

Current technology competition

Next-generation displays promise improvements in a number of visual quality and interaction areas, but more established technologies like OLED and LCD are still improving what they have to offer. Furthermore, it may be difficult for next-generation displays to distinguish themselves significantly given the competition from these well-established technologies. If the noticeable advancements in current technology are few, consumers might wonder if they really need to switch to newer displays.

COVID-19 Impact:

The COVID-19 outbreak has had a big impact on a lot of different industries, including the market for next-generation displays. The global lockdown was imposed by the ongoing pandemic. The industry is temporarily affected by COVID-19 because only the supply chain and display production are delayed. Furthermore, supply chains, production, and demand for the targeted products will all gradually increase as the situation improves. The COVID-19 pandemic is increasing consumer anxiety and causing market uncertainty.

The flexible display segment is expected to be the largest during the forecast period

The display market's largest share is anticipated to belong to the flexible display segment. By allowing screens to bend and curve, flexible displays represent a revolutionary advancement in visual technology. This opens up more design options and accommodates a range of form factors. Additionally, they have a wide range of applications in wearables, televisions, signage, smartphones, and even larger devices. The appeal of these materials lies in their adaptability, light weight, and potential for durability. These displays have been a key factor in the design and functionality of consumer electronics, and they are ideal for portable devices where weight and space restrictions are crucial.

The consumer electronics segment is expected to have the highest CAGR during the forecast period

The market's highest CAGR has been seen in the consumer electronics sector during the forecast period. This expansion can be attributed to the quick development of technology, rising disposable incomes, and consumers growing affinity for cutting-edge technology. Smartphones, laptops, gaming consoles, wearable technology, and other gadgets are all included in the Consumer Electronics segment. However, this market has seen significant demand for cutting-edge displays due to consumer demands for improved features, better displays, and better user experiences, which has prompted manufacturers to constantly innovate.

Region with largest share:

The largest market share for next-generation displays has been held by the Asia-Pacific region. Major players in the industry have their headquarters in this region, which has been leading the way in display technology advancements thanks to nations like China, Japan, and South Korea. Asia-Pacific is currently dominant because of the region's established manufacturing infrastructure, research and development centers, and robust consumer electronics market. Moreover, a strong demand for cutting-edge display technologies has also been fuelled by the region's large population and expanding middle class, who are found in a variety of applications, from smartphones and televisions to wearable technology and automotive displays.

Region with highest CAGR:

The market for next-generation displays is expected to grow at the highest CAGR in the North American region. The region's strong presence in technological innovation, significant investments in research and development, and a thriving ecosystem of technology companies are all responsible for this growth. The significant growth in North America has been largely attributed to the demand for high-end displays in industries like gaming, automotive, and medical imaging. Additionally, the region's focus on user experience, along with the adoption of cutting-edge technologies like augmented reality and virtual reality, has also accelerated the growth of the market.

Key players in the market:

Some of the key players in Next Generation Display market include: Cambridge Display Technology, Inc, Au Optronics Corp , Universal Display Corporation (UDC), Philips, Doosan Corporation, Samsung Electronics, Idemitsu Kosan Co., Ltd, Canon Inc., Plastic Logic Inc, Sony Corporation, Apple Inc, Sharp Corporation, Plessey Semiconductors, LG Display Co Ltd, Toray Industries Inc, Panasonic Corporation Co, Ltd, Nanosys Inc , Toshiba Mobile Display Co. Ltd, Planar Systems Inc and Nanoco Group plc.

Key Developments:

In August 2023, Amsterdam-based Royal Philips and diversified holding company Exor N.V. have entered into a relationship agreement. Under this agreement, Exor has purchased a 15% shareholding in Philips and will have the right to nominate one member to the Supervisory Board of Philips. This investment by Exor shows their support of Philips' leadership, strategy, and value creation potential. The relationship agreement includes Exor's commitment to be a long-term minority investor.

In August 2023, Green Cubes Technology today announced that Doosan Industrial Vehicle America Corporation named Green Cubes as preferred power systems vendor to support its electric forklift product line. The DIVAC group supplies quality material handling equipment for the North American network of 105 independent authorized and trained dealers. Doosan authorized dealers operate over 250 sales and service locations throughout the United States, Canada and Puerto Rico.

In May 2023, Universal Display Corporation, enabling energy-efficient displays and lighting with its technology and materials, announced today that through its wholly-owned subsidiary UDC Ireland Limited, UDC has acquired the Phosphorescent OLED Emitter Intellectual Property (IP) assets of Merck KGaA, Darmstadt, Germany, a leading science and technology company.

Products Covered:

• Flexible Display
• Mid-air Display
• Transparent Display
• Three-dimensional Display
• Double-sided Display
• 2D One-sided Display
• Other Products

Materials Covered:

• Substrate
• Polarizer
• Color Filter
• Liquid Crystal
• Backlighting Unit
• Emitter
• Organic Layer
• Encapsulation
• Other Materials

Resolutions Covered:

• 3840x2160
• 4096x2160
• 3996x2160
• 5120x3200
• 5120x2160
• Other Resolutions

Display Technologies Covered:

• OLED Display Technology
• Electroluminescent Display Technology
• Electro Wetting Display Technology
• Field Emission Display Applications
• Electrophoretic Display Technology
• LED Display Technology
• Other Display Technologies

Ingredients Covered:

• Carbon Nano Tubes (CNT)
• Nano Materials
• Quantum Dots
• Plastic Substrates
• Polymers
• Metals
• Other Ingredients

Applications Covered:

• Introduction
• Mobile Phones Market
• Consumer Electronics
• Industrial Applications
• Movie/Entertainment
• TV/Monitors
• Automotive
• Advertising
• Defense and Aerospace
• Medical
• Automotive Displays
• Laptops and Tablets
• E-Reader
• Other Applications

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances