Top Scenario: Display Panel Market 2020 to Witness Excellent Long-Term Growth Outlook

Top Scenario: Display Panel Market 2020 to Witness Excellent Long-Term Growth Outlook - Report by ResearchDive

Display panel market accounted for $52,151.8 million in 2019 and is predicted to grow by generating a revenue of $1,19,339.1 million by 2027.

A display panel is a vertical surface on which visual information can be displayed such as display boards or big board, for instance, the large display board at the New York Stock. Flat panel displays are used to provide alpha-numeric display information on automobiles, gas pumps, laptops, computers, calculators, airplane instrument panels, and many other products requiring digital display of information.

The pandemic has created a positive impact on the global display panel market in the estimated period. Display panels play a vital role in electronic products since they exhibit high contrast ratio, higher brightness, improved deeper blacks, and are power efficient. All these factors are driving the display panel market during this crisis. High price of the display panel is predicted to restrict the growth of the market in the time of the pandemic.

There is increasing demand for LCDs owing to various advantages offered over CCFL, including reliability, lifespan, wider color gamut, smaller physical size, power efficiency, and dimming capabilities. In addition, rise in the use of electronic devices from various end use industries for operational work is predicted to boost the display panel market in the forecast period.

The cost of these displays is very high, which is considered to hinder the market growth in the estimated period. In addition, the high investments required at initial levels restrict the new entrants in the market, which is predicted to be one of the biggest restraints for the market in the estimated timeframe.

Depending on the type, the display panel market is further classified into OLED and LCD. OLED sub-segment is predicted to grow by generating a revenue of $90,079.40 million by 2027 at a CAGR of 13.9% in the forecast period. Increasing preference for OLED screens among users is predicted to drive the sub-segment market in the estimated period.

Depending on the product type, the display panel market is further classified into rigid, flexible and foldable sub-segment. Flexible panel sub-segment is predicted to grow by generating a revenue of $88,485.1 million by 2027 with a CAGR of 11.7% in the forecast period. Many companies are investing more in the R&D in developing flexible panels, which is predicted to drive the sub-segment market in the estimated period.

Depending on the application, the display panel market is further classified into tablets and mobile phones, television, digital signage, automotive and others. Tablets and mobile phones sub-sub-segment is predicted to grow by generating a revenue of $74,817.5 million by 2027 with a CAGR of 9.9% in the forecast period. Along with all features, resolution has become an important concern nowadays because image reflects the quality of a device. Tablets and mobile phones have been updated with advanced features, which is predicted to boost the sub-segment in the estimated period.

Depending on the region, the display panel market is further classified into North America, Europe, Asia-Pacific and LAMEA. Asia-Pacific region market accounted for $19,306.6 million in 2019 and is predicted to rise with a CAGR of 12.5% in the forecast period. Presence of large number of manufacturing units and rise in the demand for smart phones across the region is predicted to drive the region market in the estimated period.

The major key players in the display panel market are LG Electronics., Hannstar display corporation, Chunghwa Picture Tubes, Ltd., BOE Technology Group Co., Ltd, Panasonic Corporation, SHARP CORPORATION, Japan Display Inc., Innolux Corporation, AU Optronics Corp., and SAMSUNG among others.

Mr. Abhishek Paliwal
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