Display Market to Reach US$ 227.2 Billion 2024-2032, Driven by 3.5% CAGR: IMARC Group

According to IMARC Group latest report titled "Display Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032", offers a comprehensive analysis of the industry, which comprises insights on display market share. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

The global display market size reached US$ 165.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 227.2 Billion by 2032, exhibiting a growth rate (CAGR) of 3.5% during 2024-2032.

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Factors Affecting the Growth of the Display Industry:

• Continual Technological Advancements:

The growth of the display industry is heavily influenced by technological advancements. Innovations in display technology, such as OLED (Organic Light Emitting Diode), MicroLED, and Mini-LED, drive market growth by offering improved performance, enhanced image quality, and energy efficiency. Advancements in manufacturing processes also contribute to the proliferation of displays with higher resolutions, faster refresh rates, and thinner form factors. These technological breakthroughs continually reshape consumer expectations and demand for cutting-edge display products, stimulating market expansion and fostering competition among manufacturers to stay ahead.

• Consumer Demand and Preferences:

Consumer demand and preferences play a crucial role in driving the growth of the display market. Preferences for larger screens, higher resolutions, immersive viewing experiences, such as curved or wraparound displays, and features including High Dynamic Range (HDR) and high refresh rates influence purchasing decisions. Additionally, the increasing adoption of displays in various applications beyond traditional TVs and monitors, such as smartphones, tablets, automotive displays, and wearable devices, amplifies market demand. Understanding and catering to evolving consumer preferences is essential for manufacturers to remain competitive and sustain growth in the dynamic display market landscape.

• Emerging Applications and Industries:

The expansion of display applications across diverse industries fuels market growth. Industries such as automotive, healthcare, education, gaming, and augmented/virtual reality are increasingly integrating displays into their products and services. In automotive applications, for instance, displays are utilized for infotainment systems, instrument clusters, and advanced driver-assistance systems (ADAS), augmenting demand for automotive-grade displays with specific performance and durability requirements. Additionally, the adoption of displays in medical imaging devices, educational aids, gaming consoles, and AR/VR headsets presents new growth opportunities for display manufacturers catering to specialized needs and requirements of these industries.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• AU Optronics Corp.
• BOE Technology Group Co. Ltd.
• Corning Incorporated
• DuPont de Nemours Inc.
• E Ink Holdings Inc.
• HP Inc.
• Innolux Corporation
• Leyard Optoelectronic
• LG Display Co. Ltd.
• Qisda Corporation
• Samsung Electronics Co. Ltd.
• Seiko Epson Corporation
• Sharp Corporation
• Sony Corporation

Explore Top Companies Blog by IMARC Group: https://www.imarcgroup.com/top-display-manufacturing-companies

Display Market Report Segmentation:

By Display Type:
• Flat Panel Display
• Flexible Panel Display
• Transparent Panel Display

Flat panel displays are the largest segment in the display market due to their widespread adoption across various electronic devices and their superior display quality compared to traditional cathode ray tube (CRT) displays.

By Technology:
• OLED
• Quantum Dot
• LED
• LCD
• E-Paper
• Others

LCD technology holds the largest segment in the display market due to its versatility, energy efficiency, and cost-effectiveness compared to other display technologies, including OLED or plasma.

By Application:
• Smartphone and Tablet
• Smart Wearable
• Television and Digital Signage
• PC and Laptop
• Vehicle Display
• Others

Smartphones and tablets dominate the display market in terms of application due to the rapid proliferation of mobile devices globally and the increasing demand for high-resolution screens and touch interfaces.

By Industry Vertical:
• BFSI
• Retail
• Healthcare
• Consumer Electronics
• Military and Defense
• Automotive
• Others

Consumer electronics emerge as the largest segment in the display market's industry verticals due to the continuous innovation and demand for TVs, laptops, monitors, and gaming consoles among consumers.

Regional Insights:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Asia Pacific stands as the largest market in the display industry, primarily attributed to the region's massive population, rapid urbanization, increasing disposable income, and the presence of major electronics manufacturing hubs, such as China, South Korea, and Japan.

Display Market Trends:

The availability of investment capital and funding opportunities is another key driver of growth in the technology sector. Venture capital firms, private equity investors, and corporate investors play a crucial role in fueling innovation and supporting the expansion of technology startups and established companies alike. Access to funding enables companies to invest in research and development, expand their operations, and pursue strategic acquisitions, driving growth both organically and through inorganic means such as mergers and acquisitions.

Key highlights of the report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.