Flat Panel Display Market to be worth US$ 135 Bn by 2020
The global flat panel display market is expected to be one of the major markets in the near future. Growth of flat panel display market across the globe is driven by factors, such as high rate of technology adoption, increasing demand for big size displays, developing consumer electronics market, and increasing investment on research and development by flat panel display manufacturers.
Global FPD market is classified on the basis of technology, application and region. By technology, the overall FPD market is segmented into - Liquid crystal Display (LCD), Plasma Display (PDP), Organic Light Emitting Diode Display (OLED) and others. Liquid Crystal display is the major technology for FPD market, accounting for over 80% share of the market in 2014.
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On the basis of applications, the global flat panel display market is segmented into consumer electronics, automotive application and others. The other applications of flat panel display includes healthcare, defence & military, etc. The consumer electronics segment is sub-segmented into television (TV), mobile phone and personal computer (PC). Consumer electronics segment is the leading application in the flat panel display market with a collective market share over 70% in 2014; it is anticipated to exhibit the fastest CAGR over 15% during the forecast period 2015 – 2020. Consumer electronics market is followed by automotive application with over 7.5% CAGR during the forecast period. The growth in flat panel display market is attributed to technological developments in electronics and semiconductor industry and increasing implantation of flat panel display for consumer products such as televisions, smartphones, tablets and laptops. Significant increase in the demand of flat Panel displays is attributed to high definition image quality offered by various FPDs, reduction in prices of LCDs and plasma displays.
On the basis of region, the flat panel display market is segmented as Americas, Europe, APAC (excluding Japan), Japan (as a region) and MEA. In 2014, Asia Pacific was the dominant geographical region in the overall global flat panel display market with over 80% share by revenue, followed by Japan. In 2014, China, Taiwan, Korea and Japan were the most lucrative markets in the APAC region.
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Technological advancements and innovations remain the key to gaining a competitive edge in the flat panel display market. Companies such as Panasonic Corporation, Sony Corporation, LG Display Co. Ltd., Emerging Display Technologies Corp., Innolux Corp., Sharp Corporation, Japan Display Inc., Samsung Electronics Co. Ltd., Universal Display Corporation and AU Optronics Corporation are some of the major players in global flat panel display market and account for maximum market share and constantly focus on new product release, R&D, mergers and acquisitions to expand their geographical presence and customer base.
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