According to a new market research report published by Credence Research “Smartphone Display Market (Technology Type – LCD (TFT, IPS and Super LCD) and LED (AMOLED, Super AMOLED and Micro-LED); Screen Size – Above 6 inches, 5.5 inches – 5.9 inches, 5 inches – 5.4 inches and Below 5 inches; Resolution Type – 4K (4096 x 2160), 2K (2560 x 1440), 1080p (1920 x 1080) and 720p (1280 x 720); Distribution Channel – OEMs and Aftermarket) – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, the global smartphone display market was valued at US$ 50.29 Bn in 2017 and will be growing at a CAGR of 7.5% during the forecast period from 2018 to 2026.
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Market Insights
The smartphone display market was valued at US$ 50.29 Bn in 2017 and expected to grow at a compounded annual growth rate (CAGR) of 7.5% during the forecast period from 2018 to 2026. The demand for smartphones have increased manifold in recent years. This significant growth has created favorable market growth opportunities for related smartphone components including smartphone display. Display screen is one of the most important aspects governing the purchase decision for a smartphone. Technological advancements have further brought around revolutionary changes in the area of smartphone displays. For instance, recently Vivo and Xiaomi launched smartphones with fingerprint scanner embedded into the screen. Similarly, in the coming years, foldable screens expected to be commercialized on a large scale. One of the most prominent factors aiding the smartphone display market growth can be attributed to the increasing demand for smartphones globally. For instance, in 2017, smartphone sales increased by 2.7% growing from 1,496.0 million units in 2016 to 1,536.5 million units in 2017. Technological innovation is another major factor influencing the smartphone display market growth positively.
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Asia Pacific was the largest market for smartphone display in 2017 and expected to continue its dominance throughout the forecast period. Majority of the leading smartphone display manufacturers such as Samsung, LG Display, Japan Display, Sharp and BOE among others are headquartered in the region. China in particular expected to play a crucial role in the growth of the market in the coming years. Moreover, the fact that eight plants have been set up in China to produce smartphone panels in the past two years supports the aforementioned sentence. The growth of the market in China is further supported by the massive state funding. In coming years, the Chinese players are expected to take bigger bite of the market for smartphone display and give tough competition to Japanese and South Koreans makers.
Some of the major players operating in the smartphone display market include Samsung, LG Display, Japan Display, Sharp, China Star Optoelectronics Technology, Visionox, Ever Display, AU Optronics, Tianma and HannStar Display Corporation among others. In order to address the increasing competition, the manufacturers of smartphone display invest heavily on research and development activities. In the coming years, trends such as foldable screen, unbreakable screen, screen with embedded fingerprint scanner and micro-Led displays expected to gain in prominence.
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