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$167 Bn Display Market by Product, Technology, Panel Size, Industry, and Geography - Global Forecast to 2024

Dublin, Feb. 06, 2019 (GLOBE NEWSWIRE) -- The "Display Market by Product (Smartphone, Wearables, Television, Automotive, Signage), Technology (LCD, OLED, Direct-View LED, Micro-LED), Panel Size (Micro, Small, Medium, Large), Industry, and Geography - Global Forecast to 2024" report has been added to's offering.

The display panel market is expected to grow from USD 137.7 billion in 2019 to USD 167.7 billion by 2024, at a CAGR of 4.0% from 2019 to 2024.

Growing adoption of OLED displays in smartphones; huge investments toward, along with government support for, construction of new OLED and LCD panel manufacturing facilities; and increasing demand for 4K and 8K displays with the availability of UHD content are the major driving factors for the market's growth during the forecast period.

Factors like increasing deployment of HUD, central stack display, and instrument cluster in automotive vehicles; and rising focus toward technological shift and development of energy-efficient, attractive, and high-end-specification display products are also contributing significantly toward the display panel market's growth.

Saturated shipment of display panels for TVs, tablets, and monitors is expected to hamper the display panel market's growth during the forecast period. Fluctuating average selling price (ASP) of display panels; complex supply chain and manufacturing processes; and high costs associated with new display technology-based products are the major challenges faced by display panel manufacturers.

The display panel market for microdisplay panels is expected to grow at the highest CAGR during the forecast period. Microdisplays are incorporated into various products such as HMDs, cameras/EVFs, projectors, and automotive HUDs. The increasing use of AR glasses in industrial and enterprise industries for providing on-the-job training to field workers, warehouse management, and maintenance and inspection activities creates significant demand for HMDs.

With high AR HMD shipment growth, the microdisplay market is expected to grow tremendously, registering the highest CAGR during the forecast period. Also, development of microdisplays for VR HMDs provides significant opportunities to players in the microdisplay market. Major microdisplay panel manufacturers such as Sony, Epson, eMagin, and Kopin are expected to drive the display market for microdisplays during the forecast period.

OLED technology is penetrating the display panel market, finding an expanding application scope in products such as TVs, smartphones, and smart wearables. Using OLED panels in smartphones enables highly bright screens, low-power consumption, and thin and lightweight form factor. With Apple's adoption of AMOLED displays in its smartphones, the market had witnessed exponential growth during 2017 and 2018, and the trend is expected to continue during the forecast period.

LG Display emerged as the key producer of OLED panels for televisions utilizing WOLED technology. Television vendors like LG Electronics, Panasonic, Sony, Hisense, Toshiba, Changhong, Skyworth, Konka Group, Haier, KTC Technology, Loewe, Philips (TPVision), Bang & Olufsen, and Grundig have had OLED televisions in the market by the end of 2018.

Market Dynamics


  • Growing Adoption of OLED Displays in Smartphones and High Demand for Flexible Display Panels
  • Huge Investments Toward, Along With Government Support For, Construction of New OLED and LCD Panel Manufacturing Facilities
  • Increasing Demand for 4K & 8K Displays With the Availability of Uhd Content
  • Growth in Automotive Displays - HUD, Central Stack Display, and Instrument Cluster
  • Technological Shift and Development of Energy-Efficient, Attractive, and High-End-Specification Display Product


  • Saturated Growth and Declining Shipment of Display Panels for TVS, Tablets, and Monitors
  • Deployment of Widescreen Alternatives, Such as Projectors and Screenless Displays


  • Emerging Use Cases - Smart Display, Smart Mirror, Smart Home Appliances
  • Emerging Display Technologies - Micro-LED and True Quantum Dot
  • Growth in Smart Wearable Display Market - AR/VR HMDS and Smartwatches
  • Growing Number of Vendors Adopting OLED Display Panels for Televisions


  • Fluctuating Average Selling Price of Display Panels
  • Complex Supply Chain and Manufacturing Processes
  • High Costs Associated With New Display Technology-Based Products

Companies Mentioned

  • Apple (Luxvue)
  • AU Optronics (AUO)
  • BOE Technology
  • BOE Varitronix
  • CEC Panda
  • China Star Optoelectronics Technology (CSOT) (CDOT) (TCL)
  • Chunghwa Picture Tubes (CPT) (Tatung)
  • E Ink Holdings
  • Emagin Corporation
  • Hannstar Display
  • Innolux Corporation
  • Japan Display (JDI)
  • Joled
  • Kopin Corporation
  • LG Display
  • Samsung Electronics
  • Sharp (Foxconn)
  • Sony
  • Tianma Microelectronics
  • Truly International
  • Universal Display Corp. (UDC)

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