Global Thin Film Transistor (TFT) Display Market - 2023-2030

Overview

Global Thin Film Transistor (TFT) Display Market reached US$ 306.1 million in 2022 and is expected to reach US$ 1,051.3 million by 2030, growing with a CAGR of 19.3% during the forecast period 2023-2030.

The global Thin Film Transistor (TFT) Display market is undergoing significant development, fueled by a convergence of technological advancements, altering consumer expectations and an increasing need for high-resolution, energy-efficient displays across several industries.

For instance, on September 7, 2023, TTI, Inc., a leading specialty distributor of electronic components, stated that it is now an authorized distributor of Kyocera LCD display devices in North America. Kyocera provides a wide range of Thin-Film-Transistor (TFT) and Memory-in-Pixel (MIP) displays. The companies will concentrate on the potential for growth in the industrial, medical and eMobility locations. Therefore, above mentioned developments support the growth of the North American TFT market, accounting with more than 1/4th regional shares.

Dynamics

Thin-Film Transistor Technique to Improve the Performance of Flexible Display Panels

Display technology advancements drive the development of electronic devices with foldable and flexible panels. Thin-film transistors (TFTs) are embedded in flexible displays and serve as an on/off light switch for the display. Additionally, critical factors for the evolution of next-generation displays include electrical charge transmission velocity, operation stability and cost reduction.

For instance, in February 2023, POSTECH researchers recently proposed a highly efficient crosslinking approach for a thick and defect-free thin-film organic-inorganic hybrid dielectric layer. The global expansion of IoT has increased interest in metal-oxide semiconductor-based circuits that consume less standby power. TFT materials capable of low-cost solution manufacturing have received particular focus. Metal oxides are recognized as the most successful material platforms for TFTs among numerous solution-processable semiconductors, owing to their high charge carrier mobility and operational stability.

The Growing Development of Ultra-Thin Transistors for Wearable Display

Wearable devices, augmented reality (AR) applications and thin, flexible electronics have all increased in popularity in recent years, owing to an increase in demand for networked, lightweight and visually immersive technology. The requirements are well met by the transparent and ultra-thin oxide TFTs developed by KAIST researchers.

However, past experiments on flexible transparent displays encountered issues such as inadequate transparency and limited electrical performance. Ultra-thin TFTs have significance for building flexible and lightweight screens that can adjust to human body characteristics. The miniaturization enables wearables to be comfortable and unobtrusive.

Manufacturing Complexity and Cost

The complexity and cost of producing advanced TFTs might be a barrier to entry for smaller enterprises and startups. It can limit market competitiveness and innovation. TFT-based products may be more expensive for consumers because to high manufacturing costs. It can impede adoption and hamper market expansion in price-sensitive markets.

Overcoming industrial issues frequently necessitates significant investments in research and development. Smaller businesses may have difficulty allocating resources for such activities. Manufacturers frequently invest in process optimization, automation and research into cost-effective materials and manufacturing techniques to overcome these difficulties. Collaboration with research institutions and governments to boost innovation and reduce manufacturing difficulties can be advantageous as well.

Limited Material Availability

When essential components for TFT manufacture are in low supply, the supply chain becomes vulnerable. Critical material disruptions or shortages can cause production delays, increased costs and even production stoppages.

Price fluctuation might result from limited material availability. Prices for crucial materials can vary greatly depending on supply and demand, making it difficult for producers to estimate and control production costs. Scarce materials are frequently more expensive to obtain. Higher material costs may raise the overall production cost of TFTs, resulting in higher pricing for end users or reduced profit margins for producers.

Segment Analysis

The global thin film transistor (TFT) display market is segmented based on type, technology, panel, end-user and region.

Thin Film Transistors on Display Technology Revolution Drives Segmental Growth

Because of Moore's law and transistor mass integration, CMOS-based electronics have improved significantly over the last few decades. Non-CMOS-based devices have typically struggled to keep up with the pack. Because of one of the technology's key technologies, the thin-film transistor, growth in one specific field-display screens-has been severely hampered.

For instance, Researchers have developed a thin film transistor, which might pave the way for the development of flexible electronic devices for applications such as display technology, medical imaging and renewable energy generation. Thin film transistors (TFTs), which frequently appear in low-power, low-frequency devices such as computer display screens, were being investigated for creative uses by researchers. Therefore, consumer electronics end-user segment is dominating the regional market with more than 1/3rd of the global market shares.

Geographical Penetration

Owing to LG Display Introduction for High-Resolution Digital X-Ray Detectors, Drives the Regional Market

In February 2021, LG Display announced the development of an innovative thin-film transistor (TFT) for digital X-ray detectors that enable the filming of high-resolution images, reducing radiation exposure. TFTs are used in digital X-ray detectors to transform X-ray pictures into digital files.

However, because the newly developed TFT employs oxide instead of silicon, LG claims that noise is decreased by one-tenth and electron mobility is a hundred times faster. Therefore, the Asia-Pacific market is dominating the global market with more than 1/3rd of the global market share.

COVID-19 Impact Analysis

Economic uncertainty and decreased consumer spending during lockdowns impacted demand for consumer goods such as smartphones and televisions, which rely significantly on TFT displays. It has an impact on the development and selling of TFT-based devices. During the pandemic, the increasing need for remote work and education solutions drove up demand for laptops, tablets and TFT-display monitors, partially offsetting the fall in other areas.

The epidemic increased demand for diagnostic and treatment technology such as digital X-ray detectors and monitors. It opened up possibilities for TFT-based healthcare treatments. Despite the difficulties, the epidemic has increased the demand for creative technological solutions. Companies continued to spend in research and development to create TFT displays for growing applications such as healthcare and telemedicine.

Russia-Ukraine War Impact Analysis

Political instability may wreak havoc on financial markets, reducing investor confidence. Financial markets can fluctuate and investment decisions might be influenced by concerns about regional stability.

Sanctions imposed on Russia may have an impact on global trade and the banking system. Companies conducting business with Russian organizations or dependent on Russian markets may experience financial limitations and losses. The conflict has the potential to disrupt supply networks, harming sectors that rely on Russian or Ukrainian components. It includes the electronics, automotive and aerospace industries, where components may become scarce or costly.

By Type

• Twisted Nematic
• In-Plane Switching
• Advanced Fringe Field Switching
• Multi-Domain Vertical Alignment
• Advanced Super View

By Technology

• Plasma Display (PDP)
• Organic Light Emitting Diode (OLED)
• Other

By Panel

• A_MVA
• ASV
• MVA, S_PVA
• P-IPS

By End-User

• Consumer Electronics
• Automotive
• Healthcare
• Aerospace and Defense
• Industrial and Manufacturing
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• On September 7, 2023, TTI, Inc., a leading specialty distributor of electronic components, stated that it is now an authorized distributor of Kyocera LCD display devices in North America. Kyocera provides a wide range of Thin-Film-Transistor (TFT) and Memory-in-Pixel (MIP) displays. The companies will concentrate on potential for growth in the industrial, medical and eMobility areas.
• In May 2021, Samsung Display announced that it has been selected to lead a national project to develop oxide thin-film transistor (TFT) technology for 1,000ppi OLED screens. By 2024, the South Korean display panel manufacturer aims to have developed an oxide TFT that can enable electron movements ten times quicker than what is currently available.
• In February 2023, LG Display announced the development of a novel thin-film transistor (TFT) for digital X-ray detectors that enables the filming of high-definition images, reducing radiation exposure.

Competitive Landscape

major global players in the market include: LG Display Co., Ltd, HannStar Display Corporation, AU Optronics Corp., SAMSUNG, Mitsubishi Electric Corporation, SHARP CORPORATION, SONY INDIA., FUJITSU and Electronics and Advantech Co., Ltd.

Why Purchase the Report?

• To visualize the global thin film transistor (TFT) display market segmentation based on type, technology, panel, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of thin film transistor (TFT) display market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Hydrogen Source mapping available as excel consisting of key products of all the major players.

The global thin film transistor (TFT) display market report would provide approximately 69 tables, 72 figures and 211 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies