PUBLISHER: The Business Research Company | PRODUCT CODE: 1500062
PUBLISHER: The Business Research Company | PRODUCT CODE: 1500062
Flat panel displays are electronic display devices that boast flat screens, offering superior resolution, color accuracy, and image sharpness compared to traditional cathode ray tube (CRT) displays. They are known for their sleek, lightweight design and typically comprise a flat panel made of glass or plastic where images or videos are electronically displayed. These displays feature millions of tiny pixels that emit light when an electrical current passes through them, resulting in vivid images and colors.
The primary technologies used in flat panel displays include liquid crystal display (LCD), organic light emitting diode (OLED), light emitting diode (LED), and quantum dot. LCD technology utilizes liquid crystals sandwiched between two layers of glass or plastic to generate images or text. Flat panel displays come in various screen sizes ranging from small to medium and large, and find applications in diverse fields such as smartphones, tablets, televisions, digital signage, personal computers, laptops, vehicle displays, smart wearables, and more.
The flat panel display market research report is one of a series of new reports from The Business Research Company that provides flat panel display market statistics, including flat panel display industry global market size, regional shares, competitors with a flat panel display market share, detailed flat panel display market segments, market trends and opportunities, and any further data you may need to thrive in the flat panel display industry. This flat panel display market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The flat panel display market size has grown strongly in recent years. It will grow from $129.63 billion in 2023 to $138.21 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth witnessed in the historical period can be attributed to various factors, including technological advancements, consumer preferences for high-quality displays, decreasing prices, the emergence of new markets, adherence to regulatory standards, and growing environmental consciousness.
The flat panel display market size is expected to see strong growth in the next few years. It will grow to $179.41 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The projected growth in the forecast period can be attributed to several factors, including the emergence of innovative display technologies, increasing demand for flexible and foldable displays, the proliferation of augmented reality (AR) and virtual reality (VR) applications, integration of displays in smart devices and Internet of Things (IoT) devices, and the need for energy-efficient display solutions. Key trends anticipated in this period include the sustained expansion of large-screen displays, convergence of display technologies, heightened focus on sustainability and recyclability, emphasis on personalization and customization features, and acceleration of innovation cycles.
The upward trajectory of the automotive industry is poised to drive the expansion of the flat panel display market in the foreseeable future. Embracing the design, production, marketing, and sales of motor vehicles such as cars, trucks, and motorcycles, the automotive sector is experiencing growth propelled by technological advancements, escalating demand for electric and autonomous vehicles, and robust global economic development. Within the automotive domain, flat panel displays play a pivotal role as integral components of infotainment systems, offering drivers and passengers intuitive interfaces for navigation, entertainment, and vehicle diagnostics, thereby elevating both the driving experience and safety standards. For instance, as reported by the European Automobile Manufacturers Association in May 2023, global motor vehicle production surged to 85.4 million units in 2022, marking a notable 5.7% increase compared to the previous year. Consequently, the burgeoning automotive industry serves as a catalyst for the growth of the flat panel display market.
Leading players in the flat panel display market are dedicated to developing innovative solutions, such as artificial intelligence (AI)-enabled interactive flat panels, to cater to evolving customer needs with advanced functionalities. AI-enabled interactive flat panels are equipped with artificial intelligence capabilities, enabling seamless user interaction with digital content through touch, gesture, or voice commands. For example, in May 2023, MAXHUB, a renowned provider of communication and audio-visual technologies based in the Netherlands, introduced its AI-enabled V6 Series of interactive flat panels. Available in sizes ranging from 55 to 86 inches, the V6 series offers cutting-edge audio-visual capabilities powered by artificial intelligence to enhance communication in corporate and educational environments. Featuring seamless screen sharing, robust whiteboard functionalities, and exceptional audio-visual performance, the V6 series is tailored to meet diverse collaboration and learning requirements.
In September 2021, Synopsys Inc., a prominent US-based software company, acquired semiconductor and flat panel display solutions from BISTel Inc. for an undisclosed sum. This acquisition bolsters Synopsys' portfolio of industry-leading process control solutions for semiconductor fabs by integrating comprehensive yield management and prediction solutions, particularly in the flat panel display domain, to enhance manufacturing quality and efficiency. BISTel Inc., headquartered in South Korea, specializes in manufacturing flat panel display systems, aligning with Synopsys' strategic vision to augment its capabilities in critical segments of the semiconductor and flat panel display industries.
Major companies operating in the flat panel display market are Samsung Electronics Co. Ltd, Sony Corporation, Panasonic Corporation, Toshiba Corporation, BOE Technology Group, Applied Materials Inc., NEC Corporation, Sharp Corporation, LG Display Co. Ltd., Koninklijke Philips N.V., ASUSTeK Computer Inc., Tokyo Electron Limited, TCL Display Technology Holdings Limited, AU Optronics Corporation, Innolux Corp, Japan Display Inc., Planar Systems Inc., BenQ Corporation, Densitron Technologies Plc., Hannstar Display Corporation, Emerging Display Technologies Corporation, Novaled AG, Crystal Display Systems Ltd
North America was the largest region in the flat panel display market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the flat panel display market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the flat panel display market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The flat panel display market consists of sales of plasma displays, interactive whiteboards, and touchscreen displays. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Flat Panel Display Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on flat panel display market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for flat panel display ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The flat panel display market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.