Global Display Market Report: Unveiling Industry Size, Share, Statistics, Companies, and Growth
Author : Steve Stark | Published On : 10 Jan 2024
The global display market is witnessing remarkable growth, driven by advancements in display technologies, increasing demand for high-quality visual experiences, and the proliferation of consumer electronic devices.
Display Industry Size and Share:
The display market, encompassing a vast array of technologies and applications, has witnessed robust growth in recent years. According to the MarketsandMarkets latest market research report the global display market size is projected to reach USD 187.8 billion by 2028 from USD 157.8 billion in 2023 at a CAGR of 3.5% during the forecast period.
Asia Pacific is expected to register the highest CAGR in the display market from 2023 to 2028. Asia Pacific is the largest producer and consumer of displays due to the presence of established display panel and device manufacturers such as Samsung Electronics Co., Ltd. (South Korea), LG Display Co., Ltd. (South Korea), BOE Technology Group Co., Ltd. (China), AUO Corporation (Taiwan), etc. Furthermore, increasing investments by governments and other organizations in retail and education industries is also expected to provide ample growth opportunities for market players in the region.
Display Industry Statistics and Market Dynamics:
Technological Prowess: Technological advancements continue to be a driving force, with display technologies evolving rapidly. From traditional LCDs to cutting-edge OLEDs, Micro-LEDs, and Direct-view LEDs, the market is witnessing a paradigm shift, offering consumers a diverse range of options.
Rising Consumer Demand: Increasing consumer expectations for high-resolution, vibrant displays in devices such as smartphones, TVs, and wearables are propelling market growth. Additionally, the surge in demand for large-scale displays for digital signage and other commercial applications is reshaping the industry.
Global Connectivity: The interconnected world is fostering collaboration and competition among companies globally. The sharing of ideas and innovations across borders is contributing to the acceleration of display technology development and adoption.
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Prominent Companies in Display Industry:
Several key players shape the landscape of the global display market, each contributing to the industry's growth and innovation. Notable companies include Samsung Electronics Co., Ltd. (South Korea), BOE Technology Group Co., Ltd. (China), LG Display Co., Ltd. (South Korea), AUO Corporation (Taiwan), and Innolux Corporation (Taiwan). These companies have used both organic and inorganic growth strategies such as product launches, collaborations, acquisitions, and partnerships to strengthen their position in the market.
Display Market Growth Analysis:
Some of the key factors propelling the global display market growth are the rapid adoption of OLED displays in a variety of applications, the rising demand for displays in the automotive and healthcare sectors, the growing use of LED displays in TVs, video walls, and digital signage applications, and the rising popularity of interactive displays.
