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Flat Panel Display Market Size, Regional Overview, Competitive Landscape, Business Growth, Share Analysis And Forecast To 2033
Flat Panel Display Market
According to The Business Research Company's, The flat panel display market size has grown strongly in recent years. It will grow from $129.63 billion in 2023 to $138.21 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to technological advancements, consumer demand for high-quality displays, declining prices, emerging markets, regulatory standards, and environmental concerns.
The flat panel display market size is expected to see strong growth in the next few years. It will grow to $179.41 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to the emergence of new display technologies, demand for flexible and foldable displays, the rise of augmented reality (AR) and virtual reality (VR), integration of displays in smart devices and IoT, demand for energy-efficient displays. Major trends in the forecast period include continued growth in large-screen displays, convergence of display technologies, focus on sustainability and recyclability, personalization and customization, and rapid innovation cycles.
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Market Drivers and Trends:
The rising automotive industry is expected to propel the growth of the flat panel display market going forward. The automotive industry encompasses designing, manufacturing, marketing, and selling motor vehicles, including cars, trucks, and motorcycles. The automotive industry is rising due to technological advancements, increasing demand for electric and autonomous vehicles, and global economic growth. Flat panel displays in the automotive sector serve as instrumental components for infotainment systems, providing drivers and passengers with intuitive interfaces for navigation, entertainment, and vehicle diagnostics, enhancing the overall driving experience and safety. For instance, in May 2023, according to the European Automobile Manufacturers Association, a Belgium-based association, in 2022, 85.4 million motor vehicles were produced around the world, an increase of 5.7% compared to 2021. Therefore, the rising automotive industry is driving the growth of the flat panel display market.
Major companies operating in the flexible electronics and circuit market are focusing on developing advanced flexible circuit production processes to drive revenue growth. Advanced flexible circuit production processes refer to manufacturing techniques that produce flexible printed circuit boards (PCBs) with complex designs, high reliability, and superior performance characteristics. For instance, in April 2024, Ennovi, a Singapore-based provider of mobility electrification solutions, launched a novel Flexible Cut Circuit (FDC) technology designed for manufacturing flexible circuits used in low-voltage signal applications for electric vehicle (EV) battery cell contact systems. This pioneering method provides a more economical and environmentally sustainable alternative to conventional flexible printed circuits (FPCs). The FDC technology streamlines the manufacturing process, enabling faster continuous production and immediate copper recycling, enhancing its eco-friendliness and efficiency.
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Major Key Players of the Market:
Samsung Electronics Co. Ltd, Sony Corporation, Panasonic Corporation, Toshiba Corporation, BOE Technology Group, Applied Materials Inc., NEC Corporation, Sharp Corporation, LG Display Co. Ltd., Koninklijke Philips N.V., ASUSTeK Computer Inc., Tokyo Electron Limited, TCL Display Technology Holdings Limited, AU Optronics Corporation, Innolux Corp, Japan Display Inc., Planar Systems Inc., BenQ Corporation, Densitron Technologies Plc., Hannstar Display Corporation, Emerging Display Technologies Corporation, Novaled AG, Crystal Display Systems Ltd
Flat Panel Display Market 2024 Key Insights:
• The flat panel display market size is expected to see strong growth in the next few years. It will grow to $179.41 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%.
• Automotive Industry Growth Fuels Demand For Flat Panel Displays
• Advancements In The AI-enabled Flat Panel Display Market
• North America was the largest region in the flat panel display market in 2023
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