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Written by Mark Smith » Updated on: November 19th, 2024
According to IMARC Group latest report titled “Display Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on display market trends. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global display market size reached US$ 165.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 227.2 Billion by 2032, exhibiting a growth rate (CAGR) of 3.5% during 2024-2032.
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Factors Affecting the Growth of the Display Industry:
Innovations such as OLED (Organic Light Emitting Diodes), Micro-LED, and QLED (Quantum-dot LED) have revolutionized the industry, offering enhanced picture quality, energy efficiency, and thinner, flexible displays. These advancements enable wider application in smartphones, TVs, and wearable devices, attracting consumer interest and investment from tech companies. The integration of touch screen technology, high-resolution, and energy-saving features in devices, including smartphones, tablets, and smartwatches, also propels the market growth. Manufacturers are consistently investing in R&D to innovate and reduce production costs, making advanced displays more accessible and spurring market expansion.
The escalating demand for consumer electronics such as smartphones, smart TVs, laptops, and wearable devices significantly drives the display market. With consumers seeking higher-quality viewing experiences, there's a constant demand for upgrades and replacements, fueling continuous market growth. The integration of smart displays in household appliances and the increasing popularity of high definition (HD), 4K, and 8K resolutions have further expanded the market. As disposable incomes rise globally, consumer willingness to invest in advanced technology enhances, boosting the sales of electronic devices with cutting-edge display technologies.
Displays are increasingly used across diverse sectors such as automotive, healthcare, retail, and advertising, broadening the market scope. In automotive, for instance, advanced display technologies are used for navigation, entertainment, and driver assistance systems. The healthcare sector utilizes high-resolution displays for medical imaging, enhancing diagnostics and patient care. Retail and advertising have seen a rise in the use of digital signage for marketing, improving customer engagement and visual communication. This wide-ranging applicability drives the demand for innovative display solutions, propelling market growth.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Explore Top Companies Blog by IMARC Group: https://www.imarcgroup.com/top-display-manufacturing-companies
Display Market Report Segmentation:
By Display Type:
Flat panel display represented the largest segment due to its widespread adoption across various consumer electronics, automotive displays, and digital signage due to its thin profile, energy efficiency, and superior image quality.
By Technology:
LCD represented the largest segment as it is a well-established display technology offering cost-effectiveness, energy efficiency, and widespread availability, making it a popular choice for everything from TVs and monitors to mobile devices and industrial equipment.
By Application:
Smartphones and tablets represented the largest segment due to the massive global proliferation of these devices, with consumers demanding high-quality displays for an enhanced viewing experience, driving the demand for advanced display technologies.
By Industry Vertical:
Consumer electronics represented the largest segment, as this sector heavily integrates advanced displays in a wide range of products, including smartphones, TVs, laptops, and wearable devices, constantly innovating to meet consumer demands for better image quality and device functionality.
Regional Insights:
Asia Pacific was the largest market, driven by the presence of major electronics manufacturers, a vast consumer base, and significant investments in display technology advancements, particularly in countries, such as China, South Korea, and Japan, which are leading in display panel production and innovation.
Display Market Trends:
The transformation in advertising and retail towards more digital and interactive content has propelled the demand for advanced displays. Digital signage, interactive kiosks, and electronic billboards are increasingly adopted for dynamic advertising, enhancing customer engagement, and providing targeted content. The retail sector leverages these technologies for branding, product promotion, and enhancing the shopping experience, thereby augmenting the demand for high-quality, durable, and versatile displays. The shift towards personalized and immersive advertising content necessitates continuous innovations in the display market, contributing to its growth.
Key highlights of the report:
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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