Display Market-Global Industry Analysis, Size, Growth, Trends, Forecast 2023

Global Display Market: Overview

A number of display technologies have emerged in past few decades, which offer advanced and flexible visualization in areas such as photography, gaming, education, video, engineering simulation, and defense. 3D displays have gained vast popularity in the consumer electronics and entertainment industries and are being adopted in devices at a staggering pace. A vast assortment of flexible display technologies are also gaining popularity. In recent years, the market has witnessed the rising prominence of a variety of organic light-emitting diode (OLED) products and devices, especially active matrix organic light emitting diodes in TVs, smart wearable, smartphones, and other mobile devices. This has enabled manufacturers to bring exciting designs in the products.

Witnessing soaring demands has also led many manufacturers of OLEDs to consolidate their production lines in several developing countries. A number of smartphone makers and technology companies focused on developing next-generation devices in the not-so-distant future are incorporating flexible OLED displays to attract buyers. The market is also witnessing marked shifts in the production of energy-efficient products, especially in the wearable segment in the healthcare industry.

The report offers in-depth insights into the current market status, emerging trends, notable opportunities, lucrative avenues, revenue share of key segments, recent technological advancements, and the competitive landscape. The study elaborately assesses the key strategies of various players to gain a better foothold in the market. Furthermore, it takes a closer look at major industry shifts expected to influence the growth trajectory in the coming years.

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Global Display Market: Trends and Opportunities

The staggering rise in adoption of various consumer electronics devices with advanced display technologies is a key factor driving the market. The rising demand for high-quality displays in the gaming and entertainment sector and the soaring popularity of OLED-based technologies in next-generation devices are notable factors boosting the market. The vast adoption of flexible OLED display technologies is also accentuating the growth of the global display market. The advent of energy-efficient electronics devices with advanced functionalities is also expected to provide a robust fillip to the market.

The high cost of devices equipped with advanced display technologies is a crucial factor likely to hinder the growth of the market to an extent. In addition, fluctuations in the average selling price of OLED-based displays is also adversely affecting the revenue of the market. Nevertheless, the burgeoning demand for smart wearable, especially in the healthcare sector, is expected to provide promising prospects over the forecast period. Several design innovations associated with OLED display panels will open up lucrative avenues for manufacturers in several developing and developed countries. The market is also anticipated to benefit from the expansion of production capacities of prominent mobile device manufacturers.

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