According to a recent report published by Allied Market Research, titled, “Global Flat Panel Display Market by Technology, Application, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2019-2026,” the global flat panel display market size was valued at $116.80 billion in 2018, and is projected to reach $189.60 billion by 2026, growing at a CAGR of 6.10% from 2019 to 2026.
Flat panel display is a successor of Cathode Ray Tube (CRT) display that includes Liquid Crystal Display (LCD) or Light-Emitting Diode (LED) screens, which makes them much lighter and thinner than other displays. These displays are used for advertisements, educational purposes, and in the corporate sector. These display screens utilize numerous technologies such as Light-Emitting Diode (LED), Liquid Crystal Display (LCD), Organic Light-Emitting Diode (OLED), and other technologies. In addition, the display technologies such as organic light-emitting diode (OLED) have gained increased importance in products such as televisions, smart wearables, smartphones, and other devices.
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A smartphone and tablet are handheld personal computers with a mobile operating system. These devices are enabled with a LED or OLED touchscreen display with a graphical user interface, processor, and a rechargeable battery in a single thin flat structure. The flat panel display specially used in small devices including mobile phones, smartphone, digital cameras, laptops, and pocket video cameras. These devices run a variety of software. Smartphones are pocket-sized as opposed to tablets.
Region-wise, the flat panel display industry trends are analyzed across North America Europe, Asia-Pacific, and LAMEA. In 2018, in terms of revenue, North America accounted for 38.7% of the total flat panel display market revenue and is expected to retain its dominant position. However, the Asia-Pacific region is expected to grow at the highest CAGR, owing to advancements in display technologies and rise in purchasing capacity of people.
High demand for vehicle display technology in the automotive sector, increase in demand for OLED display devices in smartphones and tablets, and rise in adoption of interactive touch-based devices in the education sector drive the growth of the market. In addition, high adoption of flexible flat panel display is anticipated to provide potential growth opportunities for the market. However, high cost of new display technologies and stagnant growth of desktop PCs, notebooks, and tablets is expected to restrain the flat panel display market growth.
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Moreover, the display technology such as OLED has various advantages over conventional display technologies such as being light in weight and its flexibility, which have enabled it to gain competitive advantage over other segments. 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 type of backlighting compared to LCD. A stable performance in sunlight is an additional advantage of OLEDs.
In August 2019, Sharp Corporation launched Sharp 8M-B80AX1U 80″ Class 8K Ultra HD LCD display. This display offers ultimate high definition, conforming to the 8K Ultra HD standards and pixel resolution 16 times greater than Full HD and four times greater than 4K.
According to Ankit Prajapati, Lead Analyst, Semiconductor & Electronics at Allied Market Research, “In 2018, the LCD segment dominated the flat panel display market in the technology category, in terms of revenue. However, the Quantum Dot (QD) segment is expected to grow at the highest CAGR during the forecast period. By application, the smartphone & tablet segment is anticipated to dominate the market throughout the forecast period (2019–2026). Moreover, the healthcare segment dominates the overall flat panel display market, in terms of industry vertical. The flat panel display market signifies a promising future for the technological industry. The companies are adopting innovative techniques to provide customers with advanced and innovated product offerings.”
Key Finding of The Flat Panel Display Market:
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By technology, the LCD segment led the flat panel display market share in 2018. However, the Quantum Dot (QD) segment is anticipated to grow at the highest CAGR during the forecast period (2019–2026).
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North America held majority of the market share in 2018.
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By industry vertical, the healthcare segment dominated the flat panel display market in 2018. However, the automotive segment is expected to grow at the highest CAGR during the forecast period (2019–2026).
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Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period.
The key players operating in the flat panel display industry include G Display Co., Ltd., NEC Corporation, Sharp Corporation, Samsung Electronics Co. Ltd, AU Optronics Corp., Sony Corporation, Panasonic Corporation, Japan Display Inc., Crystal Display Systems Ltd, and E ink Holdings Inc.
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