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Flat Panel Display Market Poised for Stellar Growth through 2020: Future Market Insights

The global flat panel display will gain traction through 2020, owing to increased demand from consumer electronics industry. APEJ forecasted to be key region.

VALLEY COTTAGE, NEW YORK, UNITED STATES, July 2, 2015 / -- Flat panel displays will be increasingly adopted in smartphones and automobiles in the near future, according to “Flat Panel Display Market: Global Industry Analysis and Opportunity Assessment 2014-2020”, a research report by Future Market Insights. The report anticipates the global flat panel display market to expand at a compound annual growth rate (CAGR) of 5.8% through 2020 and reach a valuation of US$ 135 Bn.

Adoption of flat panel digital signage is anticipated to increase in the near future. FMI forecasts that majority of flat panel digital signage installations will take place in retail stores and quick service restaurants (QSRs). Emergence of advanced flat panel displays and advancement of OLED technology are projected to be the major key trends in the flat panel display market.

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The key drivers for the global flat panel display market include government initiatives and support, recovery of global economy, and surge in adoption of flat panel displays by end-use industries. On the other hand, high manufacturing cost and decrease in demand for personal computers and notebooks can restrain the growth of the market during the forecast period.

On the basis of technology, FMI has segmented the flat panel display market into liquid crystal displays (LCD), plasma display (PDP), organic light emitting diode (OLED) and ‘others’ (ELD, FED, etc.) Among these, LCD accounts for the bulk of the share of the global flat panel display market. FMI forecasts LCD’s market share to increase from 85.8% in 2014 to 89.4% in 2020.

FMI forecasts that the high adoption of LCD technology will impact the demand for plasma and OLED during the forecast period. Plasma market share, which was 9.6% in 2014, is forecasted to drop to 6.9% in 2020, whereas plasma display’s market share is forecasted to decrease from 2.8% to 2.4%.

The key application segments of flat panel displays include consumer electronics, automotive, and ‘others’ (healthcare, military, and defence). Among these, the consumer electronics segment accounts for the bulk of the demand for flat panel displays. FMI forecasts the consumer electronics segment to expand at a CAGR of 5% between 2015 and 2020, and account for US$ 95.15 Bn by 2020.

In the consumer electronics industry, flat panel displays are widely used in televisions, mobile phone, and personal computers. Among these sub-segments, TVs account for nearly 43.9% share of the consumer electronics segment. Mobile phones and personal computers hold a market share of 28.5% and 27.6% respectively.

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Demand for large, high-resolution displays is one of the key trends in the consumer electronics industry. Some of the leading players in the consumer electronics industry, such as Apple and Samsung, have incorporated large displays to cater to the consumer demand. For example, Apple incorporated a 5.5” display and 401ppi resolution in iPhone 6 Plus.

In the automotive segment, growing trend of industrial automation is driving the adoption of flat panel displays. Adoption of human-machine interface is creating the demand for flat panel displays. FMI forecasts the automotive segment to expand at a CAGR of 8% during the forecast period.

Asia Pacific excluding Japan (APEJ) is the most lucrative region for flat panel display market, accounting for a share of 83.7% in 2014. Emergence of a burgeoning middle class in the emerging economies is driving the demand for consumer electronics, which in turn, is fuelling the flat panel display market. FMI forecasts the flat panel display market in APEJ to expand at a CAGR of 6% through 2020 and reach a valuation of US$ 114.75 Bn.

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

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