Inkwood Research estimates that the Global Display Market is evaluated to register a CAGR of 4.17% in terms of revenue during the forecasted years of 2022-2030.
“Browse 67 Market Data Tables and 55 Figures spread over 176 Pages, along with an in-depth TOC on the Global Display Market Forecast 2022-2030.”
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Display screens use various technologies such as LED, organic light-emitting diode (OLED), and liquid crystal display (LCD), among others. They are also largely adopted across consumer electronic devices, including smartwatches, televisions, smartphones, laptops, and others.
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Increasing Demand for OLED-based Devices to Facilitate Market Growth
Organic light-emitting diodes (OLED) are characterized as solid-state devices comprising thin films made of organic molecules. They generate light with the application of electricity. OLEDs can also provide more enhanced, crisper displays on electronic devices, in addition to utilizing lower power compared to liquid crystal displays (LCDs) or conventional light-emitting diodes (LEDs). The key advantages of OLED type displays are ascribed to the high levels of control that can be exerted over each pixel. Besides, pixels can be turned completely off, enabling deep blacks as well as a high contrast ratio. As a result, owing to the improved quality of image quality reproduction, the demand for OLED has significantly increased.
Military & Defense is the Fastest-Growing Industry Vertical
Notable advances in display technologies are used in head-up displays (HUD) in aviation as well as gunsights in order to improve accuracy over long distances. This is primarily done through the display of key information about surroundings and targets. In addition, display technologies can also illuminate a particular area, icon, or text, brightly and clearly under magnification, thus bolstering their adoption in the government & defense sector over the forecast period.
Asia-Pacific to be the Leading and Dominating Region by 2030
Emerging economies such as India and China account for a major share of the display market in the Asia-Pacific. Moreover, the adoption of novel technologies, including OLED display, micro-LED display, and automotive display, among others, play a vital role in strengthening the region’s market growth. Consumer electronics is one of the largest industries within the manufacturing sector, especially in developing Asian markets. Furthermore, with the growing disposable income of users, a myriad of local manufacturing companies are emerging on a global scale through the launch of innovative technological products as well as rising consumer awareness.
The global display market entails a growing number of players, reduced growth rate, lower exit barriers, and moderate innovation and economic base. Therefore, the industrial rivalry across the global display market is intense.
Key firms operating in the market are NEC Display Solutions Ltd, Samsung Electronics Co Ltd, Sony Corporation, LG Display, etc.
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