Display Device Market

Display Device Market Outlook (2024 to 2034)

The global display device market is projected to increase from a size of US$ 153.12 billion in 2024 and is forecast to reach a value of US$ 230.52 billion by 2034, with a projected CAGR of 4.2% from 2024 to 2034.

Display panels employ a variety of technologies, such as organic light-emitting diodes (OLEDs), liquid crystal displays (LCDs), light-emitting diodes (LEDs), and others. Technological advancements have led to better visualizations in several industry verticals, including consumer electronics, retail, sports and entertainment, and transportation. 3D displays are widely used in the entertainment and consumer electronics sectors. Moreover, flexible display technologies are spreading more widely.

A type of display technology known as "quantum dot display" makes use of quantum dots to improve the color and brightness of LED-backlit screens, such as LCD TVs and monitors. Nanoscale semiconductor particles known as 'quantum dots' release particular colors in response to light. Several benefits result from the use of quantum dots in display technology, including increased brightness, energy economy, and color accuracy.

• In January 2019, Samsung Electronics introduced a 15.6-inch OLED panel to the notepad market. The screen will create deeper blacks and richer colors than 4K LCD-based displays.

Report Attributes	Details
Display Device Market Size (2024E)	US$ 153.12 Billion
Forecasted Market Value (2034F)	US$ 230.52 Billion
Global Market Growth Rate (2024 to 2034)	4.2% CAGR
North America Market Share (2034F)	26.4%
East Asia Market Growth Rate (2024 to 2034)	5.1% CAGR
Market Share of Small & Medium Enterprises (2024E)	55.8%
East Asia Market Share (2024E)	30.7%
Key Companies Profiled	Panasonic Corporation Sony Corporation Samsung Electronics Co. Ltd. Hannstar Display Corporation Innolux Corporation HISENSE ELECTRIC BenQ TCL Skyworth Electronics

What are the Factors Leading to Extensive Adoption of Display Devices?

“Rising Use of Interactive Displays in Retail, Hospitality, and Education Sectors”

The retail, hospitality, and education sectors' increasing use of interactive displays and digital signage is fueling the market's expansion. While interactive displays are being utilized more often in corporate training environments and schools, digital signage solutions are being employed for advertising, information sharing, and customer involvement. The market is expanding as a result of these trends, which have raised demand for high-quality display devices.

The automobile industry is exhibiting a surge in demand for high-quality display devices due to the incorporation of advanced display panels in instrument clusters, head-up displays, and vehicle entertainment systems. Additional factors that are favorably influencing the growth of the display device market include the growing emphasis on energy efficiency and the development of eco-friendly display technologies.

"Smart Displays Enhancing Automotive Safety and Home Security with AI and IoT Integration"

The automotive industry's broad acceptance of new products is improving market prospects. To provide driver assistance features and improve passenger safety, convenience, and comfort, smart displays are frequently utilized in connected automobiles. The market is expanding due in part to the rising demand for smart home security products such as security cameras and video doorbells.

Technological advancements such as the incorporation of artificial intelligence (AI) and Internet of Things (IoT) solutions with linked devices represent a major display device market trend. These technologies help with remote access and real-time monitoring of temperature and security systems.

What are the Challenges Faced by Display Device Providers?

“Technological Obsolescence and Cost Constraints”

Some display systems may become outdated due to the rapid advancements in technology. The market for older technologies may be impacted if more sophisticated display options become available, potentially rendering existing goods outdated.

Manufacturing cutting-edge display technologies can be expensive, particularly when they include characteristics like flexible or OLED screens. This could restrict the uptake of these technologies and impede market expansion overall, especially in price-sensitive sectors.

“Security Concerns with Limited Application Diversity”

If novel technologies are unable to find a wide range of applications, the market for display devices may encounter difficulties. For instance, a new display technology's total commercial potential is limited if it is only appropriate for particular industries or use cases.

Data security and privacy issues are brought up by the incorporation of smart features into display devices, such as those seen in smart homes or linked automobiles. The adoption of these devices may be hindered if users believe they pose security threats.

Country-wise Insights

The United States holds a dominant share of the market in 2024. China is a significant global hub for the manufacturing of electronic equipment, particularly displays. Many companies in the country produce a broad variety of displays, ranging from TVs and monitors to smartphones.

Why is the United States a Lucrative Market for Display Device Suppliers?

“Heavy Corporate Investments in Electronics Sector”

Attribute	United States
Market Value (2024E)	US$ 30.89 Billion
Growth Rate (2024 to 2034)	4% CAGR
Projected Value (2034F)	US$ 45.82 Billion

Industry-level research and development efforts in the United States are focused on improving automated embedded display technology, as corporate investments in this space are increasing substantially. This is leading to an increase in the adoption of display devices across several industries, such as healthcare, automotive, industrial, and defense.

Businesses that are operating in the country are producing laptops, cellphones, small and medium business monitors, and giant screens for use in commercial settings. Furthermore, they produce OLED panels that are utilized in Apple smartphones and other mobile gadgets.

Availability and cost of display devices may be impacted by trade laws and regulations in the country. Trade agreements, intellectual property protection, and import/export tariffs can all affect how businesses compete. The state of the economy, which includes corporate investments and consumer purchasing power, is important for market growth.

Why are Manufacturers of Display Devices Investing Heavily in China?

“Well-Established Electronics Industry and Rapid Adoption of Cutting-Edge Technologies”

Attribute	China
Market Value (2024E)	US$ 23.64 Billion
Growth Rate (2024 to 2034)	4.8% CAGR
Projected Value (2034F)	US$ 37.75 Billion

China's sizable population and rising standard of living support the growth of the consumer electronics industry. This leads to substantial sales of display systems for smartphones, computers, and smart TVs. The country has made significant investments in the development of new technologies, particularly in the field of display technology. To compete on a global scale, domestic enterprises undertake research and development, and new technologies such as OLED and 8K displays are adopted by the market.

China's display device market share is projected to increase significantly due to new product advancements and a notable increase in investment from major players and government agencies. Organizations now have a competitive advantage in the market due to the country's well-established electronics industry and rapid adoption of cutting-edge technologies.

Category-wise Insights

With applications in a variety of electronic products, LCD technology is a key segment of the display device market. Despite competition from more recent technologies, the affordability and adaptability of LCDs are fueling their use in a wide range of devices. SMEs have a diverse role in the production, innovation, customization, and retail aspects of the display device business. Due to their flexibility and ability to cater to specific market requirements, they play a crucial role in the display technology ecosystem.

Which Display Type Accounts for High Revenue Generation?

“High Demand for LCDs Due to Their Affordability and Energy Efficiency”

Attribute	LCD
Segment Value (2024E)	US$ 40.11 Billion
Growth Rate (2024 to 2034)	3.5% CAGR
Projected Value (2034F)	US$ 62.93 Billion

Environmental factors are taken into account throughout the production and disposal of LCD panels, as certain elements may be hazardous if not handled appropriately. Developments are underway to create display technologies that are more ecologically friendly. There has been a steady move toward OLEDs and other cutting-edge display technologies in high-end smartphones and TVs. Nevertheless, because they are affordable, LCDs are still widely used in a variety of devices.

Smartphones, tablets, laptops, and desktop PCs all use LCDs. In addition, they are a component of many other electronic gadgets, including TVs and digital watches. LCDs offer sharp images with a broad viewing angle and are thin and energy-efficient. In comparison to conventional CRT (cathode-ray tube) screens, they are also significantly lighter and more compact.

Why Do Small & Medium Enterprises Occupy a Leading Market Share?

"Extensive Use of Digital Signage Systems by SMEs in Hotel and Tourism Setups"

Attribute	Small & Medium Enterprises
Segment Value (2024E)	US$ 85.44 Billion
Growth Rate (2024 to 2034)	4.8% CAGR
Projected Value (2034F)	US$ 127.01 Billion

Small and medium enterprises (SMEs) are renowned for their adaptability and inventions. Smaller businesses in the market can focus on creating cutting-edge technology, specialized goods, or items that cater to certain markets or new trends. To introduce cutting-edge display technology to the market, some SMEs make major investments in research and development. Improvements in display resolution, energy efficiency, and color accuracy, as well as technology integration, are a few examples of this.

Increasing global usage of digital signage in retail outlets is projected to drive the growth of this segment over the forecast period. The majority of SMEs in the hotel and tourism industries drive global demand for digital signage systems. Digital signage solutions support local operations management, prompting widespread adoption by SMEs worldwide.

Competitive Landscape

The competitive landscape is undergoing constant changes through ongoing alliances, mergers, and acquisitions. Leading companies in the display device market are continuously innovating presenting display technologies, including micro-LEDs and foldable screens, and focusing on improving resolution and color accuracy.

• In February 2020, Samsung Electronics unveiled a brand-new 14-meter Onyx Cinema LED screen. The Onyx screen is situated in the HOYTS Entertainment Quarter at Moore Park in Sydney, Australia.

Segmentation of Display Device Market Research

• By Display Type :

  • LCD
  • LED
  • OLED
  • AMOLED

• By Application :

  • TVs
  • Mobile Phones
  • Monitors
  • Tablets
  • Mobile PCs
  • Automotive

• By End User :

  • Residential
  • Large Enterprises
  • Small & Medium Enterprises

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa