Human brain is a visual data appreciator. We process visual data incredibly faster than textual data. According to a 2014 study of 57 people conducted by Cornell University, textual data presented with a visual graph interested 97% of the people as compared to plain text which intrigued only 68%. According to Massachusetts Institute of Technology, our brains process an image in 13 milliseconds which is much faster than processing unembellished textual information. The consumer electronics industry has not failed to capitalize on these findings. The display market is thriving, and globally valued between $132 billion to $135 billion in 2018. A multitude of products including mobile phones, laptops, smartwatches, and tablets rely completely on the products offered in the display marketplace. If not for an efficient display, we wouldn’t be enjoying any of these gadgets.
Owing to consistently advancing technology, the display market is experiencing innovation and popularity. Varying gadgets utilize electronic displays of different kinds, which in turn leads to robust market growth. The global display market is expected to grow with a potential CAGR of 4%-4.5% during the forecast period of 2019-2025. Asia Pacific region owns the largest revenue share of the global display market, between 35%-40% as of 2018, because of China’s established hardware base and India’s advancing electronics industry.
Display Market Outlook:
Display is undoubtedly one of the most important aspects of any electronic device. In simple terms, it is any output surface or a flat panel that projects images and texts for a viewer to absorb through his/her vision. Display market has undergone unprecedented technological growth in the past few years. From Organic Light Emitting Diode (OLED) with their lightweight characteristic to quantum dot technology’s accentuated brightness, the display market has traversed a long and arduous journey. Display technology is not just limited to our mobile phones and laptops. Nearly all consumer electronics like microwaves, televisions and refrigerators are known for the use of display for ease of accessibility. This is the reason why display market has found its widest application amongst consumer electronics. According to IndustryARC analyst, this application segment is set to grow with a standard CAGR of 5%-6% during the forecast period of 2019-2025.
Display Market Growth Drivers:
Increased Sales Of Consumer Electronics
With expanding urbanization, in most households, consumer electronics have become a necessity to have. Our lives revolve around gadgets and it is virtually impossible to imagine our lives without mobile phones, laptops and similar devices. Samsung Electronics Co. Ltd. earned a massive $211 billion market revenue in the year 2017 simply on its sales of consumer electronics. This number is reflective of the outstanding growth rate that the display market will experience in the upcoming few years.
Rising Innovation In The Display Market
Display market’s consistent innovation is also driving the market growth. Key players are competing in the market and upping one another in the innovation game. Apple, Huawei, Samsung, and LG Electronics provide impetus to the display market by maintaining consumer interest and keeping the market trends interesting.
Display Market Challenges:
Given that consumers now demand a higher quality of display, reputed companies have now started investing in better options like OLED. But, these come with a high investment cost which is a challenge faced by the display market. One of the ways key companies can combat this challenge is to invest in products that are mid-range and have cheaper displays panels. The customers are more likely to be inclined towards products that cost lesser than their expensive counterparts.
Display Market Key Players Perspective:
Samsung Electronics Co Ltd., one of the most eminent names in the electronics conglomerates has come up with a new set of business monitors that possess a curved screen, quantum dot technology and screen-size can exceed up to 49 inches. These monitors are created for a comfortable and optimized view for consumers.
Key players in the display market are Samsung Electronics Co. Ltd., LG Display Co. Ltd, Sony Corporation, BOE Technology Group Co. Ltd, Innolux Corp., Apan Display Inc., NEC Display Solutions, Corning Incorporated, Sharp Corp., and Tianma Microelectronics Co. Ltd.
Display Market Trends:
Quantum Dot Display Technology
Quantum dots are miniature crystals sized between 2-10nm in diameter and emit only one color which is highly dependent on its size. Quantum dot technology offers saturated colors which provides an almost lifelike experience while viewing data on a screen. LED-backlit LCDs are the most frequent utilizers of this technology and have gained immense popularity for their surreal displays. This technology offers the widest spectrum of colors known to humankind, which helps in achieving BT2020 color space, a known parameter for measuring display authenticity.
Quantum dots with their ability to emit light in all directions without polarization will define the wide angles of displays in the upcoming years and introduce flexible panels in the market. Enhanced brightness will be the prime marketing component for the display market key players.
Display Market Research Scope
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the display market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of cheese in the display market and their specific applications in different areas.
Display Market Report: Industry Coverage
The display market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
North America: The U.S., Canada, Mexico
South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
Middle East and Africa: Israel, South Africa, Saudi Arabia
Key Questions Addressed in the Display Market Report
Is the market demand for the Display growing? How long will it continue to grow and at what rate?
Which type of home security system presents the major growth opportunities?
Is there a possibility for change in the market structure over time?
Are additional developments needed for the existing product or services offerings or do the existing products meet the customer demands?
Do the key vendors look for partnerships to expand their businesses with respect to geography or product?
What are the short-term, long-term, and medium-term growth drivers for the market?
What are the short-term, medium-term, and long-term challenges for the market?
What are the short-term, medium-term, and long-term opportunities for the market
Who are the top players/companies of the market?
What are the recent innovations in the market?
How many patents have been filed by the leading players?
What are the types of patents filed by the leading players?
What is our Vision 2030 for the Display market?
A Few Focus Points Of This Research Are Given Below:
- Give a deep-dive analysis of the key operational strategies with focus on the corporate structure, R&D strategies, localization strategies, production capabilities, and sales performance of various companies
- Provide an overview of the product portfolio, including product planning, development, and positioning
- Discuss the role of technology companies in partnerships
- Explore the regional sales activities
- Analyze the market size and giving the forecast for current and future global the Display market during the forecast 2018–2023
- Analyze the competitive factors, competitors’ market shares, product capabilities, and supply chain structures
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