Display Market Size, Share, and Forecast 2030

The global displays market size is projected to reach USD 297.1 billion by 2030 and registering a CAGR of 7.35% from 2022 to 2030.

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The growth of the display market is being fuelled by the use of organic light-emitting diode panels in smartphones and televisions. The usage of displays that are more advanced technologically, lighter, thinner, and more energy-efficient is another factor influencing target market expansion. In addition, it is anticipated that the rising customer preference for smart wearable’s would fuel the expansion of the display market in the near future. The high cost of technologically advanced display panels and fluctuating display panel costs, however, are impeding the growth of the worldwide display market.

Market dynamics

Drivers

The rising use of OLED displays in smartphones, as well as significant investments in and government assistance for the establishment of new OLED and LCD panel production facilities, are the main reasons predicted to boost the targeted market. Other drivers promoting market growth include rising HUD, centre stack display, and instrument cluster deployment in automotive vehicles, as well as rising demand for 4K and 8K displays due to the availability of UHD content. For many purposes, LED displays are one of the most popular types of display technology. Compared to other technologies, it has a bigger share of the market. The LED display market has developed recently, although not in terms of innovation. The shrinking of the components required to construct an LED screen is one of the most recent developments in LED displays. LED screens can now be manufactured in ultra-thin and enormous sizes thanks to miniaturisation, enabling them to be placed on any indoor or outdoor surface. Applications for LEDs have increased significantly as a result of technical developments, including improved resolution, increased brightness capabilities, product diversity, and the creation of micro and harder surface LEDs. In order to make companies stand out from the competition, LED displays are also often utilised in digital signage applications, such as for advertising and digital billboards. For instance, the Samsung curved LED digital signage video wall was installed at the Peppermill Casino in Reno, Nevada, in August 2018. LED screens are therefore commonly utilised to enhance customer experience.

Restraints

Nowadays, digital advertising is more smart, tailored, and timely. Consumers spend more time online than ever before, making digital advertising an excellent means of connecting with them across many devices and distribution channels. As a result, internet advertising has become more commonplace recently. Additionally, the internet's ubiquitous accessibility has fueled a meteoric rise in digital advertising.

The increased usage of internet advertising is also largely due to increased investment on it by a number of significant firms, like Facebook and Google. The popularity of programmatic advertising is also rising. The term "programmatic advertising" refers to the use of data and automated systems to select media without the involvement of humans. As a result, the need for displays, which were formerly used to advertise goods and companies in stores and other public spaces, has decreased considerably.

Opportunities

In recent years, tablets, smartphones, and laptops have all embraced foldable screens. Because they are made from flexible substrates, flexible display panels may be bent. Plastic, metal, or flexible glass can all be used as the flexible substrate. Metal and plastic panels are particularly strong, lightweight, and shatterproof. Flexible display technology, which is based on OLED panels, provides the foundation for foldable phones. Flexible OLED display panels are being produced in large quantities by businesses like Samsung and LG for use in smartphones, televisions, and smartwatches.

However, producers bend or twist these display panels and employ them in finished goods, making these displays less than flexible from the viewpoint of end users.

Samsung and BOE Technology are two of the leading producers of foldable OLED technology. In May 2018, BOE showcased a number of cutting-edge innovations, including a foldable 7.56" 2048x1535 OLED panel and a 6.2-inch 1440x3008 (1R) OLED display with a touch layer.

Challenges

To stop the spread of COVID-19, many nations have imposed or are still enforcing lockdowns. The display market's supply chain has been impacted by this, among other markets. Obstacles in the supply chain make it difficult for display makers to build and deliver their goods. The COVID-19 outbreak has had the greatest impact on display production in China. In contrast to the typical rate of 90 to 95 percent, the manufacturers were only permitted to use 70 to 75 percent of their capacity. For instance, Omdia Display, a Chinese maker of displays, forecasts a 40–50% decline in overall display output as a result of manpower, logistical, and quarantine shortages.