Display Panel Market Estimated to Rise Profitably with CAGR 6.2% during 2018 – 2023 | Global Key Players (AU OPTRONICS, BOE TECHNOLOGY GROUP, CHUNGHWA PICTURE TUBES, HANNSTAR DISPLAY, INNOLUX, JAPAN DISPLAY)

In 2017, the display panel market was valued at USD 163.73 billion, which is expected to reach a value of USD 234.89 billion by 2023, registering a CAGR of over 6.2%, during 2018-2023 (the forecast period). The report provides a detailed view of the display panel market, across various sizes, technologies, form factors, resolutions, and the applications of display panels. North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa are the regions included in the report.

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The key players in the display panel market have been working on innovations, in terms of technological advancements, in order to meet the needs of many industries. OLED has been the emerging technology, which is largely driven by the demand for mobile phones and tablets. In addition, smart phones are expected to offer larger screens and higher resolutions, as the demand for flexible products is on a rise.

Key Developments in the Market
Jan 2018 - LG Display, the world’s leading innovator of display technologies, unveiled the Worlds’ first 88-inch 8K OLED display. This new panel features the highest resolution with 33 million pixels, 16 times more than FHD and four times more than UHD. This development will be a milestone for 8K era and can increase the potential of OLED in display panels.
August 2017 - Japan Display Inc. planned the mass production of LTPS (Low temperature policy-silicon) LCDs for automotive display applications. With this, the automotive display panel market is expected to grow, which is likely to further leave an impact on the display panel market.

Major Players :
AU OPTRONICS CORPORATION, BOE TECHNOLOGY GROUP CO. LTD, CHUNGHWA PICTURE TUBES LTD, HANNSTAR DISPLAY CORPORATION, INNOLUX CORPORATION, JAPAN DISPLAY INC., LG DISPLAY CO. LTD, SAMSUNG ELECTRONICS CO. LTD, PANASONIC CORPORATION, SHARP CORPORATION, amongst others.

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Growth in the Demand for OLED Panels for Television
All the electronic device players are receiving a huge demand for OLEDs panels, due to the various benefits offered by OLED panels, such as low power consumption, extending the battery’s energy retention levels, and the growth in popularity for slimmer electronic devices. Further, they offer a better picture quality than the mainstay LCD screens and are more flexible. The biggest advantage that OLED technology offers is that it has no backlight, therefore, each pixel has its own light source and offers an excellent viewing angles. Because of this reason, companies are also shifting to OLED production due to falling profitability levels in the LCD market. This will supplement the demand for display panel market.

Rise in the Demand for Automotive Displays
Consumer demand is fueling the production of smarter and more efficient automobiles that require automotive displays, which can increase the functionality and safety. The factor propelling the adoption of automotive displays is an increase in the production of hybrid and electric vehicles. Moreover, replacements of older single-function displays, which use passive matrix LCDs, are leading to a growth of the automotive displays market. Manufacturers are increasing their R&D spending, in order to improve display technologies that may help to meet expanding connected car features. This is anticipated to trigger the growth of the display panel market during the forecast period.

Asia-Pacific is the Dominating Display Panel Market
Asia-Pacific dominates the global display panel market, as most of the manufacturers of display panels are present in this region. Besides, they have established infrastructure for consumer electronics manufacturing and panels, which help them to expand their manufacturing capabilities. In Asia-Pacific, China and India are expected to occupy the majority of revenue shares in the display panels market. Manufacturers are also investing heavily in R&D activities, to develop new technologies, which may further supplement the demand for display panel market.

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