Flat Panel Displays Market is Anticipated to Attain a Value of USD 167 Billion by Growing at a CAGR of 6.11% During 2022-2028; Growing Consumption of Consumer Electronics and Rising Demand for Vehicle Displays to Propel Market Growth
SkyQuest Technology Consulting Pvt. Ltd.
6 min read
SkyQuest Technology Consulting Pvt. Ltd.
The most recent research study from SkyQuest on the flat panel displays market provides insightful analysis of current market trends and case studies of top players. The study serves as a useful tool for decision-makers who want to choose the best course of action for their organizations. Along with assessing important market drivers, the study also identifies significant market obstacles and assesses the dynamics of competition, development possibilities, and successful growth strategies.
Westford, USA,, Feb. 28, 2023 (GLOBE NEWSWIRE) -- North America dominated the flat panel displays market globally in 2021 and is predicted to do so again throughout the forecast period. The growth of the market can be ascribed to the region's early adoption of cutting-edge technology, expanding corporate sales, and high per capita income. The main driver anticipated to propel the worldwide flat panel displays market throughout the projected period is an extended growth in demand for high-quality images and improved saturation from a variety of industries, including automobile, educational, cell phones, computers, and others. In addition, the global demand for flat panel displays is being fueled by the growing use of touch-based technology in the education sector and the development of high-tech displays like OLEDs.
SkyQuest’s latest insights show that during the forecast period, there will be an increase of about 45 million displays across the cockpit of vehicles; this development is also a result of automakers realizing the potential of interior technology to differentiate their brands. More than 51 million sets of screens for the centre stack and instrument cluster alone will be sold in near future. Ford just revealed its Mustang Mach-E, which will have a 15~17-inch vertical touchscreen display and go on sale in early 2021.
Browse in-depth TOC on " Flat Panel Displays Market"
Pages - 225
Tables - 127
Figures – 68
An electronic display used to show visual material, such as text or images, is called a flat-panel display. Commercial, healthcare, recreational, and industrial equipment all include it. A liquid crystal display (LCD) is used in modern flat panel screens. Different pixels on the screen are illuminated using this technology. Flat panel displays' straightforward and compact architecture enables the production of incredibly light and portable panels, which are popular for home and office use.
Prominent Players in Flat Panel Displays Market
Sony Corporation
Panasonic Corporation
Samsung Electronics Co. Ltd
AUO Corporation
Sharp Corporation
AU Optronics Corporation
Universal Display Corporation
NEC Corporation
Crystal Display System
E Ink Holdings Inc.
Tokyo Electron
Toshiba Corporation
Optronics Corp.
LG Display, Co. Ltd.
Japan Display Inc.
The LCD Segment to Dominate the Market Growth Owing to Its Unique Characteristics
In 2021, the LCD market category held the biggest market share in terms of technology and it is anticipated to keep dominating the global flat panel displays market throughout the forecast period. The main elements anticipated to propel the segment's growth throughout the projection period are improved product quality, good picture quality, and increased acceptance in a variety of applications. Also, the development of virtual reality along with how quantum dot technology is assisting LCD displays to give high quality, improved color saturation, and higher brightness is predicted to boost demand and expansion of the market over the approaching years. SkyQuest noted that in North America, 41.81 million LCD TVs were sold. Between 2013 and 2019, one of the leading market players, Samsung dominated the global LCD TV market with an expected 42.71 million unit shipments, the business kept the top spot in 2019. Global shipments of LCD TVs in that year surpassed 215 million units.
North America flat panel displays market is anticipated to gain the largest market share during the forecast period. The growth of the market can be ascribed to the big market players' presence and their increasing expenditure in R&D in order to enhance and improve their product offering in order to expand their market share and strengthen their market position. In addition to this, the rising sales and manufacturing of electronic items in the region are predicted to drive market growth.
Browse summary of the report and Complete Table of Contents (ToC):
Television Segment to Gain Largest Market Share Thanks to Increasing Disposable Income and Rising Living Standards
The application segment of the global flat panel displays market is bifurcated into television, smartphone, laptop, vehicle display, and others. Among these, the television segment is anticipated to gain the largest market share during the forecast period. The growth of the segment can be attributed to the huge population base, rising popularity of reality shows, and rising consumer disposable money are the main drivers of the television industry's expansion. SkyQuest observed that the most common TV screen size in India in 2020 was 32~34 inches. This size of television made up around 61% of all sales. Televisions with screens above 42 inches trailed far behind as the second, holding 20% of the market. They represented more than 81% of the Indian television market collectively. In 2020, there were over 18.1 million television sets sold in India, 12.6 million of which were smart TVs. LED was the most common type of display.
The flat panel displays market in the Asia Pacific region is estimated to grow at the fastest rate throughout the projected time frame. The increasing industrialization, rapid urbanization, and access to low-cost raw resources are predicted to drive market growth in the region. The market is also expanding as a result of increased investments made by global market participants in developing nations like Indonesia, China, and India due to the strong development potential in the area.
Key Developments in the Flat Panel Displays Market
In May 2022, LG declared that it is placing a lot of emphasis on OLED televisions because it wants to boost the presence of OLEDs in the premium television market in India and meet the growing demand for larger screens.
The first foldable smartphone, the PHANTOM V Fold, will be unveiled by TECNO, a leading innovator in the technology industry, on February 28 at MWC Barcelona 2023. This device will feature a cutting-edge flagship screen that was jointly developed by TECNO and the industry leader in advanced display technology, TCL CSOT.
The world's smallest and thinnest micro-LEDs are being used by researchers from Georgia Tech-Europe and MIT to showcase a procedure that will enable more accurate simulated and interactive 3d displays.
Key Questions Answered in the Flat Panel Displays Market Research Report
What industries or market categories are anticipated to grow significantly over the next few years, and why?
In order to maintain a competitive edge in the market, how can businesses effectively incorporate new technological breakthroughs into their company strategies?
What particular economic, social, and political elements, and how do they differ between developed and developing nations, promote growth in various regions?
What are some potential dangers and advantages for organizations involved in these deals, as well as how can collaboration, acquisitions, and alliances impact market competition?
SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.
