Display Device Market Outlook
According to the report by Expert Market Research (EMR), the global display device market size reached a value of about USD 144.3 billion in 2023. Aided by the increasing shift towards higher resolution displays, the market is projected to grow at a CAGR of 4.8% in the forecast period of 2024-2032.
The global display device market has been undergoing rapid transformation and significant growth, driven by advancements in technology, increasing consumer demand for high-quality visual experiences, and the proliferation of smart devices. Display devices are electronic devices that present information visually, including screens used in televisions, smartphones, computers, tablets, and digital signage. These devices leverage various technologies, such as liquid crystal display (LCD), light-emitting diode (LED), organic light-emitting diode (OLED), and quantum dot technology, to deliver vibrant and dynamic visual content. As technology continues to evolve, the market is characterised by several prominent trends that are reshaping its landscape.
One of the most significant display device market trends is the shift towards higher resolution displays. The demand for ultra-high-definition (UHD) and 4K displays has surged as consumers seek enhanced viewing experiences with sharper and more detailed images. This trend is particularly evident in the television and monitor segments, where manufacturers are increasingly offering 4K and even 8K resolution displays to cater to the growing appetite for superior picture quality. The gaming industry, in particular, has been a major driver of this trend, with gamers demanding high-resolution monitors that can deliver immersive and visually stunning gaming experiences. Additionally, the adoption of higher resolution displays in smartphones and tablets is on the rise, as consumers prioritise devices with superior display quality for streaming, gaming, and other multimedia applications.
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Another noteworthy trend aiding the global display device market expansion is the growing popularity of OLED and AMOLED (active matrix organic light-emitting diode) displays. These technologies offer several advantages over traditional LCDs, including better contrast ratios, faster response times, and the ability to produce deeper blacks and more vibrant colours. OLED displays are increasingly being used in high-end smartphones, televisions, and wearable devices, offering enhanced visual experiences and energy efficiency. The flexibility of OLED technology also enables the development of innovative display form factors, such as foldable and rollable screens, which are gaining traction in the market. The launch of foldable smartphones by major manufacturers and the introduction of rollable televisions are prime examples of how OLED technology is driving innovation in the market.
The rise of smart devices and the Internet of Things (IoT) is another key trend influencing the global display device market value. As homes and businesses become more connected, the demand for smart displays that can integrate with various IoT devices is increasing. Smart displays, such as smart speakers with screens, smart mirrors, and smart home control panels, provide users with interactive interfaces to manage their connected devices, access information, and control smart home systems. The integration of voice assistants and AI-driven features in smart displays is enhancing their functionality and appeal, making them central hubs for managing smart ecosystems. This trend is also evident in the automotive industry, where smart displays are being incorporated into vehicle dashboards to provide real-time information, navigation, and entertainment to drivers and passengers.
The trend towards thinner and bezel-less designs is also shaping the global display device market dynamics. Consumers are increasingly favouring sleek and aesthetically pleasing devices with minimal bezels, which offer larger screen-to-body ratios and a more immersive viewing experience. This design trend is prevalent across various display device segments, including smartphones, televisions, and monitors. Manufacturers are continually innovating to reduce the thickness and bezel size of their devices, incorporating advanced manufacturing techniques and materials to achieve these design goals. The demand for aesthetically pleasing devices is driving the development of edge-to-edge displays and curved screens, which not only enhance the visual appeal but also improve the overall user experience.
In the realm of digital signage and commercial displays, the global display device market is experiencing robust growth due to the increasing adoption of digital advertising and information dissemination solutions. Businesses across various industries, including retail, hospitality, transportation, and healthcare, are leveraging digital signage to enhance customer engagement, provide real-time information, and create dynamic advertising campaigns. The flexibility and versatility of digital displays enable businesses to deliver targeted and interactive content, improving customer experiences and driving business outcomes. The growing trend of outdoor digital signage, with high brightness and weather-resistant features, is further expanding the market.
Technological advancements in display device manufacturing are also contributing to global display device market growth. Innovations such as micro-LED and mini-LED technologies are emerging as promising alternatives to traditional display technologies, offering improved brightness, contrast, and energy efficiency. Micro-LED displays, in particular, are gaining attention for their potential to deliver superior picture quality and longevity, making them suitable for a wide range of applications, from large-scale digital signage to high-end consumer electronics. Additionally, the development of transparent displays is opening up new possibilities for innovative applications in retail, automotive, and augmented reality (AR) environments, where see-through screens can enhance user interactions and provide immersive experiences.
The regional dynamics of the global display device market development are also noteworthy. The Asia Pacific is a dominant player in the market, driven by the presence of major display manufacturers, technological advancements, and high consumer demand for electronic devices. Countries like China, South Korea, and Japan are leading the way in display technology innovation and production, contributing significantly to the global market. North America and Europe are also key markets, characterised by strong demand for high-end consumer electronics, smart devices, and digital signage solutions. The growing adoption of advanced display technologies and the presence of leading tech companies in these regions further bolster the market growth.
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Display Device Market Segmentation
The global display device market can be divided based on display type, technology, application, end use, and region.
Market Breakup by Display Type
- Flat Panel
- Flexible Panel
- Transparent Panel
Market Breakup by Technology
- LCD
- LED
- OLED
- E-Paper
- Others
Market Breakup by Application
- Television
- Smartphones and Tablets
- Smart Wearable
- PC and Laptop
- Automotive
- Digital Signage
- Others
Market Breakup by End Use
- Residential
- Large Enterprises
- Small and Medium
Market Breakup by Region
- North America
- Europe
- Latin America
- Middle East and Africa
- Asia Pacific
Competitive landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the display device market. Some of the major players explored in the report by expert market research are as follows:
- TCL Electronics Holdings Limited
- LG Electronics Inc.
- Sharp Corporation
- Samsung Electronics Co., Ltd
- Toshiba Corporation
- Japan Display Inc.
- Others
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