Display Market Overview
The Display Market Size is expected to reach USD 196.34 Billion by 2033. The Display Market industry size accounted for USD 157.36 Billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 3.67% from 2023 to 2033. The Display Market refers to the industry involved in the manufacturing, distribution, and sales of various types of display technologies, including screens, monitors, panels, and other visual output devices. This market encompasses a wide range of products such as liquid crystal displays (LCDs), light-emitting diode (LED) displays, organic light-emitting diode (OLED) displays, plasma displays, e-paper displays, and more.
The display market serves various sectors, including consumer electronics (such as smartphones, tablets, laptops, and televisions), automotive (dashboard displays, infotainment systems), healthcare (medical imaging displays), industrial applications (control panels, digital signage), and many others. Factors influencing the display market include technological advancements, consumer preferences, demand for higher resolution and larger screens, energy efficiency, cost-effectiveness, and emerging applications such as augmented reality (AR) and virtual reality (VR).
Global Display Market Synopsis
COVID-19 Impact Analysis
The COVID-19 pandemic had significant impacts on the Display Market. The pandemic disrupted global supply chains, affecting the production of display components and finished products. Factory closures, logistics challenges, and restrictions on movement hindered the manufacturing and distribution of displays, leading to delays and shortages. With people staying at home due to lockdowns and social distancing measures, there was a surge in demand for displays for home entertainment and remote work setups. This boosted sales of monitors, TVs, and other display devices suitable for home use. The shift to remote work and online learning increased demand for displays, particularly monitors and laptops with larger screens and better resolution to facilitate productivity and virtual collaboration. The pandemic accelerated digital transformation across various industries, driving demand for display technologies in sectors such as healthcare (for telemedicine and remote patient monitoring), education (for online learning platforms), and retail (for digital signage and contactless interactions). Lockdowns and restrictions on physical retail spaces led to a shift towards online retail channels for purchasing display products. E-commerce platforms became crucial for sales, and manufacturers invested in digital marketing and online sales strategies.
Display Market Dynamics
The major factors that have impacted the growth of Display Market are as follows:
Drivers:
Ø Technological Advancements
Continuous innovations in display technologies drive market growth. Advancements such as higher resolution, better color reproduction, thinner form factors, and energy efficiency attract consumers and businesses to upgrade their display devices. The increasing adoption of smartphones, tablets, laptops, and TVs drives demand for displays. As consumers seek devices with larger screens, higher resolutions, and better visual quality, manufacturers respond by developing and supplying advanced display panels. Digital signage is becoming ubiquitous in retail, transportation, hospitality, healthcare, and other sectors. Businesses leverage digital displays for advertising, information dissemination, wayfinding, and interactive customer experiences, fueling demand for display panels and solutions. The automotive industry increasingly incorporates digital displays into vehicles for instrument clusters, infotainment systems, heads-up displays (HUDs), and rear-seat entertainment. Features like touchscreens, voice control, and connectivity enhance the driving experience, boosting demand for automotive displays.
Restraint:
- Perception of Price Competition
Intense competition among display manufacturers leads to price pressures, especially in commoditized segments like LCD panels. This can squeeze profit margins and limit investments in research and development, hindering technological advancements. Display technologies evolve rapidly, leading to the obsolescence of older technologies and products. Manufacturers face the challenge of staying abreast of technological advancements and transitioning production lines to newer technologies while managing inventory and minimizing losses from obsolete inventory. Trade tensions between countries and regions can result in tariffs, import/export restrictions, and regulatory barriers that impact the flow of display components and products. Uncertainty surrounding trade policies can disrupt supply chains and increase costs for manufacturers and consumers.
Opportunity:
⮚ Growing demand for Flexible and Foldable Displays
The demand for flexible and foldable displays is growing, driven by applications in smartphones, tablets, wearables, and automotive displays. Manufacturers can seize opportunities in this segment by developing bendable display technologies that offer durability, thinness, and high-resolution imagery. There is a niche market for customized displays tailored to specific applications such as aerospace, defense, medical imaging, and outdoor signage. Manufacturers can target these specialized markets by offering displays with unique specifications, ruggedized designs, and certifications for reliability and performance in harsh environments. The shift towards online retail channels presents opportunities for display manufacturers to reach consumers directly through e-commerce platforms and digital marketing channels. By establishing direct-to-consumer sales channels, manufacturers can bypass traditional retail channels, reduce distribution costs, and gain insights into consumer preferences and behavior.
Display Market Segment Overview
By Type
Based on Type, the market is segmented based on Flat Panel Display, Transparent Panel Display and Flexible Panel Display. The Flat Panel Display segment is dominant the market. There is a growing demand for large-screen displays in applications such as TVs, digital signage, and public displays. Manufacturers are developing larger and higher-resolution panels to cater to this demand.
By Technology
Based on Technology, the market segment has been divided into LCD, LED, OLED, MicroLED and Quantum Dot (QD). The OLED technology segment is dominant the Display Market. High demand for a better viewing experience, advancements in technologies and wide applications of OLED panels across industry verticals are driving the segment’s growth in the Display Market. OLED displays are brighter, feature higher contrast and broader viewing angles, respond faster and consume less power. Due to their biological makeup, OLED displays are self-illuminating and do not require a backlight for optimal visibility under all conditions.
By Display Size
Based on Display Size, the market segment has been divided into Less than 10 inch, 11 to 24 Inch, 25 to 60 inch, 61 to 80 inch and More than 80 inch. The 25 to 60 inch segment is dominant the market. Displays ranging from 25 to 60 inches are commonly used in digital signage applications for advertising, information dissemination, wayfinding, and interactive experiences in various settings such as retail stores, restaurants, airports, and corporate environments. These displays often feature high brightness levels, wide viewing angles, and durable designs to ensure visibility and reliability in different lighting conditions and environments.
By Application
Based on Application, the market segment has been divided into Smartphone and Tablet, Laptop, Television, Digital Signage, Automotive Display, Smart Wearable and Others. The Smartphone and Tablet segment is dominant the market. LCD panels have been traditionally used in smartphones and tablets for their cost-effectiveness and mature manufacturing processes. However, advancements in other display technologies have led to their gradual replacement in premium devices.
By End Use
Based on End Use, the market segment has been divided into Automotive, Commercial, Industrial, Residential, Public Space and Others. The Public Space segment is anticipated to dominant the market. Displays are utilized in entertainment venues, cultural institutions, theme parks, and public events to provide immersive experiences, educational content, interactive exhibits, and live performances. Large-scale LED displays, projection mapping, augmented reality (AR), and virtual reality (VR) technologies create memorable and engaging experiences for visitors and audiences.
Global Display Market Regional Analysis
Based on region, the global Display Market has been divided into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. North America is projected to dominate the use of the Display Market followed by the Asia-Pacific and Europe regions.
Display North America Market
North America holds a dominant position in the Display Market. North America is a key market for display technologies, driven by the presence of leading technology companies, strong consumer demand, and innovation hubs. The United States is a major consumer of displays, with demand fueled by smartphones, tablets, laptops, TVs, and automotive displays. Silicon Valley in California is a center for display technology research and development, with companies like Apple, Google, and Facebook investing in advanced display technologies. The automotive industry’s focus on connected cars, autonomous vehicles, and in-vehicle displays presents growth opportunities for display manufacturers.
Display Asia-Pacific Market
The Asia-Pacific region has indeed emerged as the fastest-growing market for the Display Market industry. APAC dominates the global display market, driven by countries such as China, Japan, South Korea, and Taiwan, which are major manufacturing hubs for display panels and electronic devices. South Korea is a leader in OLED display technology, with companies like Samsung Display and LG Display dominating the market. China is a significant player in LCD panel manufacturing and has been investing in OLED and MicroLED technologies to compete globally. The region benefits from strong consumer demand for smartphones, TVs, and other consumer electronics, driving production and consumption of display panels. Growing investments in automotive displays, digital signage, and industrial applications contribute to market growth.
Competitive Landscape
The global Display Market is highly competitive, with numerous players offering a wide range of software solutions. The competitive landscape is characterized by the presence of established companies, as well as emerging startups and niche players. To increase their market position and attract a wide consumer base, the businesses are employing various strategies, such as product launches, and strategic alliances.
Prominent Players:
- LG Display
- Samsung Electronics
- BOE Technology
- AU Optronics
- Innolux Corporation
- Japan Display
- Sharp Corporation
- China Star Optoelectronics Technology
- Tianma Microelectronics
- Truly International Holdings
Scope of the Report
Global Display Market, by Type
- Flat Panel Display
- Transparent Panel Display
- Flexible Panel Display
Global Display Market, by Technology
- LCD
- LED
- OLED
- MicroLED
- Quantum Dot (QD)
Global Display Market, by Display Size
- Less than 10 inch
- 11 to 24 Inch
- 25 to 60 inch
- 61 to 80 inch
- More than 80 inch
Global Display Market, by Application
- Smartphone and Tablet
- Laptop
- Television
- Digital Signage
- Automotive Display
- Smart Wearable
- Others
Global Display Market, by End Use
- Automotive
- Commercial
- Industrial
- Residential
- Public Space
- Others
Global Display Market, by Region
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Benelux
- Nordic
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Indonesia
- Austalia
- Malaysia
- India
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of SouthAmerica
- Middle East &Africa
- Saudi Arabia
- UAE
- Egypt
- SouthAfrica
- Rest of Middle East & Africa
| Parameters | Indicators |
|---|---|
| Market Size | 2033: $196.34 Billion |
| CAGR | 3.67% CAGR (2023-2033) |
| Base year | 2022 |
| Forecast Period | 2023-2033 |
| Historical Data | 2021 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Segmentations | Type, Technology, Display Size, Application, End Use |
| Geographies Covered | North America, Europe, Asia-Pacific, Latin America, Middle East, Africa |
| Key Vendors | LG Display, Samsung Electronics, BOE Technology, AU Optronics, Innolux Corporation, Japan Display, Sharp Corporation, China Star Optoelectronics Technology, Tianma Microelectronics and Truly International Holdings. |
| Key Market Opportunities | • Growing demand for Flexible and Foldable Displays • Customized and Niche Applications |
| Key Market Drivers | • Technological Advancements • Demand for Automotive Displays |
REPORT CONTENT BRIEF:
- High-level analysis of the current and future Display Market trends and opportunities
- Detailed analysis of current market drivers, restraining factors, and opportunities in the future
- Display Market historical market size for the year 2021, and forecast from 2023 to 2033
- Display Market share analysis at each product level
- Competitor analysis with detailed insight into its product segment, Government & Defense strength, and strategies adopted.
- Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding taken and investment done, among others.
- To identify and understand the various factors involved in the global Display Market affected by the pandemic
- To provide a detailed insight into the major companies operating in the market. The profiling will include the Government & Defense health of the company’s past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
