Flat Panel Displays Market is set to garner staggering revenues by 2020

Rapidly mushrooming consumer electronics industry will remain the key driving force for soaring demand for flat panel display in the global market. The global flat panel display market, valued at US$ 102 Mn in 2015, is likely to gain a considerable uplift by the end of a five-year forecast period 2015-2020. Over the assessment period, PMR estimates the expansion of the market at a CAGR of 5.8%.

The global flat panel display market is primarily driven by rising adoption of FPD in a host of consumer electronics devices, including televisions, mobile devices, laptops, tablets, and desktop monitors. With thriving consumer electronics sector, the market is expected to witness a parallel demand for HMI (human-machine interface) technology. This will, in turn, accelerate the FPD market growth. Moreover, the automotive sector is increasingly raising the demand for flat screen monitors. Rising demand for large-sized displays and a rapid pace of technology adoption will collectively contribute to the market growth. Moreover, manufacturers are increasingly investing in FPD R&D, which is an important factor estimated to boost the market in near future.

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Flat panel display, a thin, lightweight display, has been a consumer preference since the past few years. Applications of an FPD are more a commonplace in televisions, desktop monitors, laptops, digital cameras, smartphones, and other electronic devices. Superior to conventional CRTs, these flat panel displays gain a competitive edge owing to increased brightness, improved contrast settings, higher pixel resolution support, and lower power consumption. With flourishing consumer electronics industry, FPDs are currently witnessing dramatically high demand on a global level. PMR forecasts promising growth prospects for the global flat panel display market over a five-year forecast period 2015-2020.

The global flat panel display market is pegged to attain the revenues worth US$ 135 Mn by the end of 2020. However, the growth of the global market for flat panel display will be moderate at a CAGR of 5.8% over a five-year forecast period 2015-2020. The market for FPD witnessed a slight decline in the last few years; however, PMR indicates steady recovery of the market through 2015 to 2020.

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Market Dynamics

Brisk rebound in the prices of flat panel displays within the past few years has been a major factor that will continue to favor the growth of the global flat panel display market. Another strong driver propelling the demand for flat panel display is the exploding consumer electronics market. Rising demand for laptops, smartphones, high quality television sets, in addition to flat screen monitors in the automotive sector, will together accelerate the market growth over the forecast period. Moreover, the growth of consumer electronics sector spurs a parallel demand for HMI technology, which is again foreseen to escalate the need for flat panel displays.

Siemens AG recently launched two new industrial flat panel (IFP) monitors with widescreen, IP650 protection, and capacitive multi-touch glass fronts. Introduction of such innovative FPD models will continue to push the flat panel display market further. In addition, emergence and promising adoption of superior technologies such as OLED over LCD will also accelerate the market growth during the forecast period. After 2K and 4K resolutions, the 8K UHD is anticipated to soon enter the mainstream market, eventually fostering the market for flat panel display. Besides electronics and automobiles, there has been a surge in discovery of various application of FPDs in the advertising industry as well as education field. This is expected to create new growth opportunities and support the market growth over the five-year forecast period.

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