According to the report compiled by Persistence Market Research (PMR), the global display device market is expected to witness robust growth during the forecast period 2017-2026. The market is anticipated to register CAGR of 8.3% between 2017 and 2026. It is also estimated to reach US$ 360,275.6 million revenue by the end of 2026.
There has been an increase in demand for electronic products such as PCs, laptops, smartphones, etc. This is expected to play an important role in the growth of the global display device market. Display device manufacturers are also focusing on improving their reach in the global market with the help of strategic partnerships. The development of smart and application specific devices is also driving the demand for display device across the globe. Consumers are also demanding devices with high-resolution technology, hence the manufacturers are focusing on increasing the resolution of the display.
Increasing Focus towards Advanced Display Technology
Companies are focusing advanced display technology in various devices including smartphones, tablets, TVs, smart watches, etc. manufacturers are also shifting their focus towards providing flat panel displays. Along with the Liquid Crystal Display (LCD) technology, other flat panel display technology gaining momentum in the market are Plasma Display Panels (PDP), Organic Light Emitting Diodes (OLED), Field Emission Display (FED), and electronic papers. Moreover, the trend towards high-resolution display is evident in every segment of the display device market.
Virtual Reality (VR) also involves display technology offering better visual in real time. Manufacturers are looking forward to including OLED display in virtual reality. Curved and paper-thin OLED display is said to offer a completely new experience while playing games or watching movies. These technologies are also being combined with 3D to enhance the experience. Manufacturers are looking forward to offering the whole new experience with the glass-free 3D display that will eliminate the need for 3D eyeglasses.
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Global Display Device Market: Segmental Insights
- The global display device market consists of various segments such as applications, display type, and end-user. Based on the display type, the market segment consists of LED, LCD, AMOLED, OLED, and others such as electronic paper, laser TV, etc. Among these, the LED display is expected to witness robust growth. By the end of 2026, LED display is estimated to surpass US$ 148,200 million revenue.
- Based on applications, the market segment includes mobile phones, TV, tablet, monitors, automotive, mobile PC, and others. TV is expected to be the largest segment in terms of the revenue in the global display device market. It is estimated to account for over two-fifth of the revenue share by 2017 end.
- By end-user, the market segmentation includes large enterprises, small medium enterprises, and residential. Among these, residential is expected to be the biggest end-user of the display device. By the end of 2026, residential as end-user is likely to create an incremental opportunity surpassing US$ 89,100 million between 2017 and 2026.
- Geographically, Asia Pacific Excluding Japan (APEJ) is expected to be the largest region in the global display device market during the forecast period 2017-2026. It is estimated to account for robust CAGR between 2017 and 2026.
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Global Display Device Market: Competitive Landscape
The report offers in-depth analysis on some of the leading market players in the global display device market such as Samsung, LG, Apple, Panasonic, Toshiba, Sony, Hiesense, TCL Corporation, Skyworth, and Sharp. Most of the leading players are planning to develop large-scale production facility with the introduction of new technologies.