The global flat panel display market size is expected to grow from USD 134.2 billion in 2020 to USD 191.4 billion by 2027, at a CAGR of 6.1% from 2021 to 2027. A flat panel display is an electronic display that displays information such as words, films, photos, or other visual content. Traditional Cathode Ray Tube television sets are much heavier and narrower than flat-panel screens. Organic Light-Emitting Diode (OLED), Liquid Crystal Display (LCD), Light-Emitting Diode (LED), and other technologies are used in these display displays. Furthermore, it is mostly used in consumer electronic devices such as laptops, tablets laptops, smartwatches, etc. The emergence of advanced technologies offers enhanced visualizations in several industry verticals, including retail, consumer electronics, transportation, sports & entertainment, etc. Flexible flat panel display technologies witness popularity at a high pace.
Moreover, display technologies, such as OLED, have increased importance in smartphones, smart wearables, televisions, and other devices. Also, smartphone manufacturers plan to incorporate flexible OLED displays to attract consumers. Additionally, the market is also in the process of producing energy-saving devices, primarily wearable devices.
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Growth in in-vehicle display technology in the automotive industry, rising demand for OLED display devices in smartphones and tablets, and growing use of interactive touch-based devices in the education sector are all important drivers driving the flat panel display market. The expensive expense of new display technologies such as transparent displays and quantum dot screens and the stagnating growth of desktop PCs, laptops, and tablets stifles flat panel display growth.
Furthermore, display technology such as OLED offers several benefits over traditional display technologies, including its lightweight and flexibility, which has given it a competitive edge over other areas. OLED technology is often regarded as a lighter and smaller alternative to LCD and LED systems. Furthermore, unlike LCD screens, OLED panels do not require any backlighting. OLEDs also have the benefit of having a stable performance in the sunshine. Furthermore, the global flat panel display market will likely benefit from emerging flexible flat panel display device applications.
Global Flat Panel Display Market Dynamics
Drivers: High demand for vehicle displays technology in the automotive sector
Nowadays, display gadgets are also used in the automotive industry. In response to this potential, LG Display has announced that it would begin producing a head-up display system for the car sector. LG's vehicle display gadget is a flexible, transparent display that can be wheeled about. The heads-up display may be used in various ways and has a variety of functions to improve your driving experience. Co-driver display, head-up display, center information display, back seat entertainment, and other automobile components are included in the vehicle display. The most popular display technology among the main vehicle manufacturers is OLED.
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Restraints: High cost of new display technologies
Rapid technological advancements and upgrades in portable devices such as smartphones have witnessed tremendous growth in recent years. Smartphones are easy to operate, efficient, and cost-effective. Furthermore, smartphones are featured with technologies evolved from devices like notebooks, tablets, and PC monitors.
Opportunities: Increase in adoption of flexible flat panel display
The present display market is largely concerned with developing new technologies and products for big screens and high-resolution pictures. Flexible displays are projected to dominate the display business in the future. In comparison to traditional displays, flexible displays are thin, light, and less prone to damage. As a result, flexible screens are predicted to both replace and generate new display technologies. In the worldwide display market, these characteristics are projected to generate profitable development prospects.
Scope of the Report
The study categorizes the flat panel display market based on application, technology, and industry vertical at the regional and global levels.
By Application Outlook (Sales, USD Million, 2017-2027)
- Smartphone & Tablet
- Smart Wearable
- Television and Digital Signage
- PC & Laptop
- Vehicle Display
- Others
By Technology Outlook (Sales, USD Million, 2017-2027)
- OLED
- Quantum Dot
- LED
- LCD
- Others
By Industry Vertical Outlook (Sales, USD Million, 2017-2027)
- Healthcare
- Retail
- BFSI
- Military & Defense
- Automotive
- Others
By Region Outlook (Sales, USD Million, 2017-2027)
- North America (US, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
- The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)
The LCD segment is projected to account for the largest market share by technology
By technology, the market is bifurcated in OLED, Quantum Dot, LED, LCD, and others. In 2020, the LCD segment accounted for the largest market share of 59.3% in the global flat panel display market. Organic LED is an emerging type of display technology. This technology removes the need for separate backlighting. The display panels based on this technology are thinner than other technologies. This technology produces digital displays in different devices, including PC monitors, television screens, and portable systems such as smartphones. OLEDs have various advantages over conventional display technologies, such as they are light in weight and flexible enough. The OLED technology is recognized as a lighter and thinner alternative than conventional LED and LCD systems. In addition, OLED panels do not require any backlighting compared to LCDs. Stable performance in sunlight is an additional benefit of OLED.
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Asia Pacific accounts for the highest CAGR during the forecast period
Based on the regions, the global flat panel display market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Globally, Asia Pacific is estimated to hold the highest CAGR of 9.7% in the global flat panel display market during the forecast period. Developing nations such as China, India, Japan, and Australia account for the major share in the display market in Asia-Pacific. This region is one of the major market regions for display technology globally, with India and China being the two major countries. Adoption of new technologies such as touch screen displays, interactive tables, kiosks, and other displays in Asia-Pacific, are expected to fuel the flat panel display market growth during the forecast period.
A surge in demand for interactive display, video walls, and touchscreen technology in this region is expected to boost the market. The interactive touch screen is a leading technology in every region that delivers versatility for retail POS system and provide high intuitive touch experience. Further, growing industrialization and rapid urbanization also attract the adoption of highly advanced and interactive solutions. These factors are expected to boost demand for flat panel displays in Asia-Pacific.
Key Market Players
The flat panel display market is mildly concentrated in nature with few numbers global players operating in the market such as AU Optronics, LG Display Co. Ltd., Samsung Electronics Co. Ltd., Sony Corporation, NEC Corporation, Japan Display Inc., Panasonic Corporation, Crystal Display Systems, and E Ink Holdings Inc.
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