Display Panel Trends and Forecast
The future of the global display panel market looks promising with opportunities in the smartphones and tablets, PC and laptop, and television markets. The global display panel market is expected to reach an estimated $186.9 billion by 2030 with a CAGR of 4.8% from 2024 to 2030. The major drivers for this market are increasing interest in large-sized OLED panels for television, interest in display panels for public and commercial use, and interest in flexible displays for mobile phones, accompanied by a growing emphasis on research and development efforts.
• Lucintel forecasts that, within the display technology category, LCD is expected to witness highest growth over the forecast period.
• Within the end use category smartphones and tablets will remain the largest segment.
• In terms of regions, North America is expected to witness highest growth over the forecast period.
Gain valuable insights for your business decisions with our comprehensive 150+ page report.
Emerging Trends in the Display Panel Market
Merchandising in the display panel market focuses on technological adoption and related consumer behavior changes. Emerging trends shape the industry in various ways, including new product creation, market entry strategies, and competition. For key players in emerging and existing markets, the threat of newer competitors is always a concern, hence the need to assimilate such trends.
• Shift in Use of OLEDs and Micro LEDs: OLED and micro LED technologies are becoming increasingly successful in the market due to their reliability, contrast ratio, and energy efficiency. OLED panels are common in high-end smartphones and TVs, while micro LED offers even greater brightness and stability. This change results from consumers seeking better screens and technological advancements in manufacturing processes.
• Displays Incorporating Advanced Features Efficiently: Features such as high dynamic range (HDR), 8K resolution, and high refresh rates are becoming standard in new display panels. These enhancements improve visual quality, create more immersive user experiences, and enable applications such as gaming and professional graphics work. Increased consumer interest and technological growth are driving this trend.
• Rise in Demand for Flexible Displays: The market for flexible and foldable screens is expanding, particularly in mobile smartphones and wearables. These displays are designed for fresh market inclinations and usability, as consumers seek multifunctional products. The flexibility trend is driven by advancements in display technologies and rising consumer demand for innovative device designs.
• Focus on Environment-Conscious and Sustainable Manufacturing Practices: The global display panel industry is shifting towards greener and more eco-friendly production methods. Companies are investing in recycling processes, using less toxic materials, and improving the energy efficiency of their operations. This trend supports product innovation and is particularly pronounced in the global consumer product market.
• Increase in Usage of Displays in Various Applications: Panels have extended their use beyond standard consumer electronics to applications such as automotive displays, control panels, smart home appliances, and advertising. This development is fueled by technological progress and the growing demand for interactive, high-definition displays across different fields.
In just a few years, global display panel trends such as transitions to OLED and micro LED technologies, enhancement of features, utilization of bendable screens, a focus on sustainability, and entry into new markets will transform previously undervalued areas within the display panel revolution. Most trends are technology-driven, and consumer preferences significantly influence product development.
Recent Developments in the Display Panel Market
Recent key developments in the display panel market are impacting the business by introducing new technologies, fulfilling market requirements, and overcoming barriers. These changes align with the evolving trends in display technology and its sectors.
• Advancements in OLED and Micro LED Technologies: New developments in OLED and micro LED technologies lead to improvements in displays, featuring enhanced color fidelity, increased brightness levels, and lower energy consumption. OLED is primarily found in high-end smartphones and televisions, while micro LED offers significant performance advantages. These technological developments fulfill consumer demands for high-performance displays.
• Rise of Flexible and Foldable Displays: The market is experiencing growth due to the introduction of flexible and foldable displays in electronic devices. Products featuring these displays offer new shapes and enhanced user experiences. Leading manufacturers are focusing on the development of flexible displays to expand their usage from smartphones and tablets to wearables.
• Growth of 8K and HDR Displays: The demand for 8K and high dynamic range (HDR) display systems is rising, driven by consumer interest in clearer and better picture quality. These displays are increasingly common in ultra-high-end televisions and professional monitors, offering greater detail and richer colors.
• Increased Attention Toward Sustainable Manufacturing: The display panel industryÄX%$%Xs focus on sustainable manufacturing processes is gaining momentum. Companies are transitioning to green materials, reducing the carbon footprint of operations, and implementing waste management schemes. This shift is driven by regulations and consumer expectations regarding environmental protection.
• Striving for Markets in Automotive and Digital Signage Applications: Display panels are gradually penetrating automotive and digital signage applications. Advanced displays are used in vehicle infotainment units and digital advertising, extending the market scope beyond conventional consumer electronics. This trend results from technological advancements and the growing demand for interactive, high-definition displays in various fields.
Recent advancements in display panels, including OLED, micro-LED, and flexible display technology, as well as the increased focus on 8K HDR, are positively influencing the display panel market. These advancements foster creativity and meet consumer needs.
Strategic Growth Opportunities for Display Panel Market
The display panel market presents significant growth opportunities across various applications, driven by innovations and changes in consumer preferences. Tapping into these opportunities will provide valuable advantages for stakeholders adapting to new developments and growing their market presence.
• Consumer Electronics (Smartphones and TVs): There is substantial potential for growth in high-quality OLED and micro LED displays within consumer electronics. Innovations, such as advancements in resolution to 8K and HDR, appeal to consumers interested in high-end brands. This sector has considerable growth potential due to the continuous evolution of display technologies and increasing consumer sophistication.
• Automotive Displays: Automotive displays are becoming increasingly advanced, encompassing infotainment systems, instrument clusters, and head-up displays. The trend of integrating modern display technology into vehicles presents opportunities for manufacturers. Flexible displays and upgrades enhance the driving experience, driving demand in the automotive sector.
• Digital Signage: The digital signage market is experiencing upward growth as companies seek solutions that effectively capture customer attention. This sector benefits particularly from high-resolution, large-format displays for advertising and information presentation. The expansion of digital signage is driven by improvements in display technologies and rapid adoption across various industries.
• Wearable Devices: The wearables market has gained new dimensions, securing a competitive edge through advanced display technologies, such as smartwatches and fitness trackers. The integration of flexible and durable displays in wearables enhances user interfaces and functional capabilities. This sector is driven by consumer demand for more advanced and unique wearable technology.
• Healthcare and Professional Displays: Medical and professional displays, including medical imaging and high-end graphic displays, offer significant growth potential. High-resolution and wide color gamut displays are essential for healthcare and professional activities, such as diagnostics. This application segment continues to grow due to the need for accuracy and reliability.
The penetration of consumer electronics, automotive displays, digital signage, wearable devices, and healthcare applications is driving the vertical display panel market. These opportunities will foster innovation and growth, satisfying the ever-changing demands and trends in the market.
Display Panel Market Driver and Challenges
The display panel market is driven and restrained by factors that are gratifying or contrary to the market growth and development respectively. These factors include the level of technology, the extent of development if there is any necessary assistance and external or market policy. It is crucial to appreciate these drivers and challenges g that the market is full of hope and there is chance for entering the market.
The factors responsible for driving the display panel market include:
• Technological Advancements: Technological advancement of different display technologies including OLED, micro LED and flexible displays are primarily supporting the growth of display panel market. These technologies provide high performance, color accuracy, and energy use efficiency, hence satisfying consumers’ needs of high quality displays. Change is a way of life since this industry is highly dynamic itÄX%$%Xs going to require constant R&D to keep up with the market.
• Rising Consumer Demand for High-Resolution Displays: The There is an increasing consumer demand for the use of high-end resolution displays like the 4K, 8K and HDR, which boosts growth in the market. There is a trend whereby consumers want to be able to enjoy television or gaming or even doing office work with better visual equipment. This trend creates a need for peopleÄX%$%Xs requirement for more advanced display technologies and on the other hand boosts the development processes of the products.
• Expansion of Digital Signage Applications: Growth in digital signage applications across the multiple segments such as healthcare, retail, transportation and entertainment industry, offers plenty of development opportunities. The need for large, high-definition screens for advertisements and information displays is growing and this creates growth and evolution of innovations and the market of digital signage solutions.
• Expansion of the Market in Automotive Display Technologies: Expanding application of modern display product design in the automotive sector including infotainment and head up displays is a contributing factor to the market growth. Consumers and manufacturers are excited about the new changes to improve the driving experience and the vehicle itself increasing the market for high automotive displays.
• Concentration on Nature Friendly Practices: Sustainability and other environmental production factors is changing the dynamics of the display panel market. The manufacturers are practicing environmental stewardship which includes recycling and other means of reducing energy in production. This trend is brought about by regulations as well as the willingness of the consumers to acquire green products.
Challenges in the display panel market are:
• Large Production Costs: Large production costs which include raw material costs and costs to acquire sophisticated fabrication technologies are challenges that the display panel market faces. These costs affect pricing and profits; this is more pronounced with high-end display technologies. Production cost concerns have to be addressed in to stay competitive in the market.
• Supply chain disruptions: One of the factors which can hinder the display panel market includes drastic supply chain disruptions, especially loss of essential parts and material shortages. Global occurrences such as wars and natural calamities affect these supply chains and cause delays and increased costs. With the potential for as many risks as there are opportunities, engaging in risk management is key to market stability.
• Market Saturation and Competitive Pressure: Constant competition and the market reaching its peak in the display panel industry hampers profitability and growth. The industries are being crowded with a number of competitors and swift changes in technologies present a menace to the raising companies in that, in order to remain relevant, such companies have to keep on modifying and upgrading their products. This challenge has more to do with the careful resources and technological into advanced research and development and strategically engaging in the relevant markets.
The display panel market is mainly driven by different technological developments as well as an increase in demand by consumers for high resolution display, expansion on the digital signage applications, growth in automotive display technology as well as focus on sustainability. But challenges such as high production cost, interruption of the supply chain system and extreme competition need to be mitigated to enable further expansion and stability of the market Why is it important to understand these factors - the answer lies in the fact that the market for display panel technology is changing.
List of Display Panel Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies display panel companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the display panel companies profiled in this report include-
• Samsung Electronics
• Toshiba Corporation
• Japan Display
• Sony Corporation
• Leyard Optoelectronic
• Panasonic Corporation
• AU Optronics
• LG Display
• BOE Technology
• NEC Corporation
Display Panel by Segment
The study includes a forecast for the global display panel by display technology, panel size, resolution, end use industry, and region.
Display Panel Market by Display Technology [Analysis by Value from 2018 to 2030]:
• LCD
• OLED
• Micro-LED
• Others
Display Panel Market by Panel Size [Analysis by Value from 2018 to 2030]:
• Microdisplays
• Small and Medium-sized Panels
• Large Panels
Display Panel Market by Resolution [Analysis by Value from 2018 to 2030]:
• 4K
• 8K
• Others
Display Panel Market by End Use Industry [Analysis by Value from 2018 to 2030]:
• Smartphones and Tablets
• PC and Laptop
• Television
• Others
Display Panel Market by Region [Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
Country Wise Outlook for the Display Panel Market
Assessment of the market, in terms of value and volume, shows steady growth, particularly in the LCD segment. Developments across the U.S., China, Germany, India, and Japan exhibit varying trends and innovations affecting this market. Each region contributes uniquely, influenced by its economic environment, technological landscape, and legislative framework.
• United States: In the U.S., growth in the display panel market is driven by increasing resolution and size. The development of OLED and micro LED technology is prominent, particularly for consumer electronics and commercial displays. The trend toward telecommuting and more virtual interactions has increased the demand for high-quality monitors and interactive displays. Additionally, efforts toward cleaner production technology and recycling of display panels are gaining traction.
• China: China plays a key role in the display panel market, showcasing significant advancements in production technologies and innovations. The country excels in producing OLED and micro LED panels, which dominate smartphones, televisions, and other electronic devices. Growth is bolstered by government support for high-tech manufacturing and research and development investments, although challenges such as trade tensions and supply chain issues remain.
• Germany: Germany’s display panel market is characterized by a strong emphasis on quality, particularly in automotive and industrial applications. The country is investing in the development of next-generation display technologies, such as micro LED and HDR panels. German manufacturers are also pursuing green production initiatives. The market benefits from increasing demand for high-end displays in sectors like automotive, where high-definition displays are essential for in-car entertainment systems.
• India: India is witnessing rapid growth in the display panel market, primarily due to the rising consumer electronics sector and expanding digital infrastructure. Local assembly of display panels is increasing as authorities implement supportive initiatives. The demand for low-cost options in televisions and smartphones is driving growth, while challenges include competition from international players and the need to enhance local manufacturing technologies.
• Japan: Japan’s display panel market demands sophisticated technologies, such as OLED and advanced LCD panels. Japanese companies are aggressive in display technology development, investing heavily in R&D activities. Market growth is stimulated by demand from consumer electronics and automotive display sectors. Additionally, there is a growing trend toward waste reduction in display panel manufacturing, along with some improvements in manufacturing practices.
If you are looking to expand your business in this market or adjacent markets, then contact us. We have done hundreds of strategic consulting projects in market entry, opportunity screening, due diligence, supply chain analysis, M & A, and more.
FAQ
Q.1 What is the display panel market size?
Answer: The global display panel market is expected to reach an estimated $186.9 billion by 2030.
Q.2 What is the growth forecast for display panel market?
Answer: The global display panel market is expected to grow with a CAGR of 4.8% from 2024 to 2030.
Q.3 What are the major drivers influencing the growth of the display panel market?
Answer: The major drivers for this market are increasing interest in large-sized oled panels for television, interest in display panels for public and commercial use, and interest in flexible displays for mobile phones, accompanied by a growing emphasis on research and development efforts.
Q4. What are the major segments for display panel market?
Answer: The future of the display panel market looks promising with opportunities in the smartphones and tablets, PC and laptop, and television markets.
Q5. Who are the key Display Panel Market companies?
Answer: Some of the key display panel companies are as follows:
• Samsung Electronics
• Toshiba Corporation
• Japan Display
• Sony Corporation
• Leyard Optoelectronic
• Panasonic Corporation
• AU Optronics
• LG Display
• BOE Technology
• NEC Corporation
Q6. Which display panel market segment will be the largest in future?
Answer: Lucintel forecasts that lcd is expected to witness highest growth over the forecast period.
Q7. In display panel market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness highest growth over the forecast period.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the display panel market by display technology (LCD, OLED, and micro-LED, and others) , panel size (micro displays, small and medium-sized panels, and large panels) , resolution (4K, 8K, and others) , end use industry (smartphones and tablets, PC and laptop, television, and others) , and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Display Panel Market, Display Panel Market Size, Display Panel Market Growth, Display Panel Market Analysis, Display Panel Market Report, Display Panel Market Share, Display Panel Market Trends, Display Panel Market Forecast, Display Panel Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.