USD 152.46 billion
Display Market Size, Share, Growth Analysis, By Display Technology(LCD, OLED, Micro-LED, Direct-View LED), By Resolution(8K, 4K, FHD, HD), By Panel Size(Micro display, Small and Medium size Panels, Large Panels), By Panel Type(Fixed Panel, Flexible Panel), By Dimension(2D Display, 3D Display), By Product(Smartphones, Television Sets, Monitors & Laptops, Digital Signage & Large Formal Displays), By Vertical(Consumer electronics, Automotive, Sports & Entertainment, Transportation), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45B2127 |
Region:
Global |
Published Date: June, 2024
Pages:
165
|Tables:
154
|Figures:
78
Display Market Insights
Global Display Market size was valued at USD 152.46 Billion in 2022 and is poised to grow from USD 157.8 Billion in 2023 to USD 207.79 Billion by 2031, growing at a CAGR of 3.5% during the forecast period (2024-2031).
The display market is to witness immense growth in the coming years, mainly due to the increasing demand for advanced display technologies throughout residential, commercial, and industrial sectors. This development is further driven by the rising awareness of energy-efficient display solutions and rising focus on sustainability. Strict regulations encouraging energy conservation coupled with the requirement for cost-efficient and innovative display options are positively influencing the market growth.
Various technologies, like light-emitting diodes (LEDs), liquid crystal displays (LCDs), organic light emitting diodes (OLEDs), are utilized in the display panels. Furthermore, it plays a vital part in consumer electronics such as TVs, computers, tablets, laptops, and smart watches. Businesses like consumer electronics, retail, sports & entertainment, transportation can profit from enhanced visualizations by the advancement of modern technology. In the consumer electronics and entertainment industries, the popularity of 3D displays is increasing rapidly. Moreover, flexible display technologies are gradually becoming common. Innovative display technologies such as organic light-emitting diode (OLED) have become a vital part in items like televisions, smart clothing, cell phones, and other gadgets. For attracting more customer smartphone manufacturers are also utilizing flexible OLED screens. The market is also creating energy-efficient gadgets, primarily for wearable technology. Currently, many sectors like entertainment, business, transportation, retail, hospitality, education, and healthcare have started utilizing different types of displays.
US Display Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Liquid Crystal Display (LCD)
Fastest Growth
Organic Light-Emitting Diode (OLED)
Growth Rate
3.5% CAGR
Global Display Market ($ Bn)
Country Share for Asia Pcific Region (%)
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Display Market Segmental Analysis
The global display market is segmented into display technology, product, resolution, vertical, and region. Based on display technology, the market is divided into LCD, OLED, Micro-LED, Direct-view LED, and Quantum Dot (QD) Displays. Based on product, the market is segmented into Smartphones, TV Sets, Monitors & Laptops, and Wearables. Based on resolution, the market is divided into 8K, 4K, FHD, and HD. Based on vertical, the market is segmented into Consumer electronics, Automotive, Sports & Entertainment, Transportation, Retail, Hospitality & BFSI, Industrial, Education, HealthCare, and Aerospace & Defense. Region wise, the market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Display Technology
Based on technology, the direct-view LED segment is leading the market with the largest revenue share because it has many benefits. With the help of this technology users will get brighter and high-contrast images and videos compared to conventional LCD videos. Furthermore, direct view LED displays work better in cases and places where the area is brightly lit, like offices, schools, and shopping malls, increasing its demand. These screens also offer outstanding color quality. Furthermore, DVLED displays offer smooth video walls as it does not require frames surrounding the screen like LCD. The installation of these looks sleeker and professional, increasing its popularity among customers. These displays are also available in all sizes, including big screens for outdoor digital signage installations.
The LCD segment is also growing gradually but steadily. In recent times, LCD displays have become more cost-efficient. This is because its production has increased massively and advancements in manufacturing methods. Such easy affordability makes them one of the ideal choices for organizations who are trying to implement large numbers of displays. Furthermore, factors Ike enhancements in LCD technology, like better resolutions, efficient color accuracy, and improved energy efficiency, is making LCDs more attractive for multiple commercial applications.
Analysis by Vertical
Based on vertical, the retail segment is leading the market with the largest revenue. This is because of the high demand for displays that are utilized in digital advertisements, marketing, and promoting products and services. Retail organizations have started embracing an innovative approach to advertising, resulting in the massive demand for commercial-grade TV and digital signage. These are some of the main factors due to which the retail segment is dominating the digital display market.
The transportation segment is growing rapidly due to the advancement of the transportation sector in the developing economies of China, Japan, and India. In the transportation industry, commercial displays are frequently utilized at places like airports, railway stations, metro stations, and bus stands for advertising. In recent times, advertisers have also extensively started utilizing digital displays on buses, cabs, trains, and trams. Furthermore, LCD and LED displays are also utilized in car infotainment systems, navigation and instruments clusters. Many Japanese firms are also utilizing advanced display technology, particularly OLED screens to increase energy efficiency in the vehicles.
Global Display Market By Technology
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Display Market Regional Insights
North America is dominating the global display market with the largest revenue share. North America, especially the US, is a center for technological developments, and research & developments. Organizations in the region are leading in developing advanced display technologies like 4K, 8K, OLED, and LED. The growing emphasis on R&D in the region is also boosting the adoption of advanced displays. Moreover, North America has a strong and stable economy that encourages significant display technologies. Organizations are various sectors like retail, corporate, healthcare, and hospitality have the financial resources to invest in high-quality display solutions.
The global display market in Asia Pacific is growing at the fastest rate. Asia Pacific is a diversified region with a broad spectrum of industries and market segments. These consists of retail, transportation, hospitality, healthcare, education, and entertainment. Such diversification develops numerous opportunities for the implementation of display solutions throughout various applications and verticals. Moreover, Asia Pacific is also the place of some of the world's prominent technology manufacturers and suppliers, especially in countries such as China, Japan, South Korea, and Taiwan. These countries have advanced manufacturing abilities and are leading the display technologies market with LCD, LED, OLED, and semiconductor manufacturing.
Global Display Market By Region
- Largest
- Fastest
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Display Market Dynamics
Drivers
- Increasing Demand for Customizable Display Applications
The increasing demand for customizable display applications highlights a shift in consumer preferences toward customized solutions. Organizations and users want displays that can be implemented to their particular needs and preferences without needing extensive technical skills. Personalization of display applications provides flexibility in controlling settings, layouts, and features as per the requirements of the people. This improves user experience and productivity. This trend showcases the significance of displays that can be smoothly incorporated with different systems and accommodate various user preferences, boosting the demand for such solutions in the market.
- Rising Need for Adaptable Solutions
The growing requirement for adaptable solutions in displays shows the increasing demand for versatile technologies that can be smoothly incorporated into various environments and fulfil the changing needs. Displays must facilitate different input sources, resolutions, and display formats for fulfiling the requirements of various users and applications. Adaptable displays also have the potential of supporting multiple connectivity options, like HDMI, DisplayPort, and USB-C, enabling them to connect to various devices. This flexibility allows the displays to serve many purposes and adapt to the shifting technological settings effectively.
Restraints
- Restricted Space for Larger Display Installations
The limitation of restricted space for larger display installations is hindering the deployment of big screens, like video walls or large digital signage, in areas that that have very restricted areas. This shortcoming is primarily arising in retail stores, offices, or public venues where the available space is not huge. Therefore, this is a challenge of balancing the desire for impactful visual interaction with practical spatial constraints.
- Growing Concerns about Energy Consumption and Efficiency
Growing focus on sustainability and cost-efficiency is increasing concerns about energy consumption and efficiency in displays. The conventional display technologies, like plasma and older LCD screens, are generally energy-intensive, which results in higher operational expenses and environmental influence. Therefore, in recent times, there is an increasing demand for energy-efficient displays, like LED-backlit LCDs and OLED panels. They consume less power while maintaining high-quality visuals. Moreover, features like automatic brightness adjustment and power-saving modes are assisting in reducing energy usage during times of inactivity.
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Display Market Competitive Landscape
The global display market is extremely competitive in nature due to the strong presence of leading vendors. Companies with extensive technical and financial resources are gaining a competitive edge because they can constantly launch new products in the market and attract more customers. The sector is also witnessing many strategic alliances, partnership, and acquisition which is not only helping the companies to discover new advanced products but also improve their market presence.
Top Player’s Company Profile
- Samsung Electronics Co., Ltd.
- LG Display Co., Ltd.
- BOE Technology Group Co., Ltd.
- Innolux Corporation
- AU Optronics Corp.
- Japan Display Inc.
- Sharp Corporation
- Tianma Microelectronics Co., Ltd.
- CSOT (China Star Optoelectronics Technology)
- Visionox Technology, Inc.
- Everdisplay Optronics Ltd.
- Truly International Holdings Limited
Recent Developments
- Daktronics collaborated with the University of Colorado in April 2024. The aim was to install six LED displays with 8,800 square feet at Folsom Feet in Boulder, Colorado. This will improve fan engagement during football games.
- SHARP Electronics of Canada introduced their MultiSync PNME Series displays in February 2024. This was developed by collaborating with NEC Corporation.
- SAMSUNG unveiled its cutting-edge innovations in commercial display technology at Integrated Systems Europe in Barcelona in February 2024. They introduced a new interactive display, WAD, highlighting notable upgrades, like 8GB RAM and 64GB of memory, ensuring improved performance
Display Key Market Trends
- Technological Developments in Display Features
Technological developments in the display features consists of a wide range of innovations that can improve visual clarity, responsiveness, and functionality. These innovations consist of higher resolutions like 4K and 8K, faster refresh rates, enhanced color accuracy, and wider viewing angles. Furthermore, developments in display technology include the incorporation of features like HDR, OLED panels for deeper blocks and vibrant colors, and curved or flexible displays for immersive viewing experiences. These innovations contribute to creating displays that provide better quality images, versatility, and interactivity.
- Increasing Trend of User-Friendly Interfaces
The trend of user-friendly interfaces in displays shows a preference towards intuitive and accessible interaction with technology. Generally, users demand displays that can be easily navigated and understood, reducing the learning curve and improving usability. This trend focuses on the significance of clear, easy menus, touch controls, and responsive interfaces that can be helpful to the diver user groups.
Display Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global display market is an ever-evolving landscape and highly competitive due to the constant implementation of strategic initiatives of the key players to improve their positions. These initiatives lead to innovation, customer engagement, partnerships, and constant enhancement to cater to the demands of consumers. Companies are also investing significantly in R&D to launch new product technologies with many benefits in OLED, LCD, micro LED. These players provide advanced products that are better in performance, resolution, and energy efficiency.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 152.46 Billion |
| Market size value in 2031 | USD 207.79 Billion |
| Growth Rate | 3.5% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Display Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Display Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Display Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Display Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Display Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Display Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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