A number of display technologies have emerged in past few decades, which offer advanced and flexible visualization in areas such as photography, gaming, education, video, engineering simulation, and defense. 3D displays have gained vast popularity in the consumer electronics and entertainment industries and are being adopted in devices at a staggering pace. A vast assortment of flexible display technologies are also gaining popularity. In recent years, the market has witnessed the rising prominence of a variety of organic light-emitting diode (OLED) products and devices, especially active matrix organic light emitting diodes in TVs, smart wearable, smartphones, and other mobile devices. This has enabled manufacturers to bring exciting designs in the products.
Witnessing soaring demands has also led many manufacturers of OLEDs to consolidate their production lines in several developing countries. A number of smartphone makers and technology companies focused on developing next-generation devices in the not-so-distant future are incorporating flexible OLED displays to attract buyers. The market is also witnessing marked shifts in the production of energy-efficient products, especially in the wearable segment in the healthcare industry.
The report offers in-depth insights into the current market status, emerging trends, notable opportunities, lucrative avenues, revenue share of key segments, recent technological advancements, and the competitive landscape. The study elaborately assesses the key strategies of various players to gain a better foothold in the market. Furthermore, it takes a closer look at major industry shifts expected to influence the growth trajectory in the coming years.
Global Display Market: Trends and Opportunities
The staggering rise in adoption of various consumer electronics devices with advanced display technologies is a key factor driving the market. The rising demand for high-quality displays in the gaming and entertainment sector and the soaring popularity of OLED-based technologies in next-generation devices are notable factors boosting the market. The vast adoption of flexible OLED display technologies is also accentuating the growth of the global display market. The advent of energy-efficient electronics devices with advanced functionalities is also expected to provide a robust fillip to the market.
The high cost of devices equipped with advanced display technologies is a crucial factor likely to hinder the growth of the market to an extent. In addition, fluctuations in the average selling price of OLED-based displays is also adversely affecting the revenue of the market. Nevertheless, the burgeoning demand for smart wearable, especially in the healthcare sector, is expected to provide promising prospects over the forecast period. Several design innovations associated with OLED display panels will open up lucrative avenues for manufacturers in several developing and developed countries. The market is also anticipated to benefit from the expansion of production capacities of prominent mobile device manufacturers.
Global Display Market: Regional Outlook
The major regional markets for display technologies and systems are North America, Asia Pacific, and Europe. Of all the regional segments, North America and Europe are anticipated to witness vast adoption of display technologies. The prominence of these regional markets is attributed, mainly to the marked presence of affluent consumers and the rapid pace of technological advancements in the electronics manufacturing industry in major countries.
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Meanwhile, Asia Pacific is expected to rise at a promising pace throughout the forecast period. The substantial growth of this regional market is driven by the growing number of consumer electronics manufacturers and the burgeoning manufacturing facilities in several of its emerging economies. The relatively low cost of manufacturing in these emerging countries in the region is accentuating the growth. Favorable governmental regulations in electronics manufacturing also bodes well for the regional market.
Companies mentioned in the report
Some of the prominent players operating in the market are Dupont Display, Samsung, Epson, Hewlett-Packard Company, Fujitsu Limited, Mitsubishi Electric Corporation, Toshiba Corporation, Atmel Corporation, Sharp Corporation, LG Display Co. Ltd., Panasonic Corporation, Corning Incorporated, NEC Display Solutions, Cambridge Display Technology Ltd., Universal Display Corporation, and AU Optronics.