Flat Panel Displays Market: Liquid Crystal Display(LCD) Segment Estimated to Remain Dominant

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.

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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.

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.

In addition to remarkable proliferation of mobile computing devices, advancements in semiconductor manufacturing technology will also play an important role in driving the flat panel display market ahead. The medical sector has also been increasingly using FPDs in order to address high resolution imaging requirement. This will provide a strong opportunity in the next few years. The flat panel display market is likely to be the most concentrated in emerging Asian countries, attributed to the major cluster of consumer electronics manufacturers in the APAC region. This will continue to boost the market growth to a large extent.

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Segment Analysis

The global flat panel display market is segmented on the basis of technology and application. By technology, LCD (liquid crystal display) segment are estimated to remain the clear dominator with the revenues beyond US$ 116 Mn by 2020 end and over three-fourth of the market share as well. However, OLED (organic light emitting diode display) segment will witness the strongest CAGR over 2015-2020.

Based on application, the global market for flat panel display is categorized into consumer electronics, automotive, and others i.e. healthcare, military, and defense. Consumer electronics application segment will remain dominant, whereas automotive application segment is likely to thrive at a higher CAGR during 2015-2020.

Regional Analysis

Geographically, the global FPD market is classified into Americas, Europe, Asia Pacific (excluding Japan), Japan, and Middle East and Africa. APEJ is projected to continue dominance with more than 85% share of the entire market by 2020 end. This region will be led by China, which is the topmost manufacturer of consumer electronics. While APEJ is foreseen to expand at a CAGR of 6%, Japan – the second largest FPD market will witness a sluggish growth at a CAGR of 1.2% during 2015-2020. Europe and Americas are also predicted to see significant growth over the forecast period.

Key Players Analysis

Some of the key players in the global flat panel display market include Sony Corporation, LG Display Co. Ltd., Panasonic Corporation, Sharp Corporation, Emerging Display Technologies Corp., Samsung Electronics Co. Ltd., Innolux Corp., AU Optronics Corporation, Universal Display Corporation, and Japan Display Inc.

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