Display Market Expected to Reach $242.1 Billion, Globally, By 2032 at 6.8% CAGR: Allied Market Research

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Oct 23, 2023, 10:05 ET

The global display market is driven by factors such as rise in demand for OLED and interactive display devices, and the growing trend of touch-based devices.

WILMINGTON, Del., Oct. 23, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Display Market by Display Type, Technology, Application, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2022-2032". According to the report, the global display market was valued at $124.1 billion in 2022 and is estimated to reach $242.1 billion by 2032, exhibiting a CAGR of 6.8% from 2023 to 2032.

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165 - Tables
91 - Charts
346 - Pages

A display consists of multiple layers of material that together offer the structure required to render an image onto the screen. The emergence of various advanced technologies such as OLED display is helping the display industry to evolve faster than ever.

Prime determinants of growth

The global display market is driven by factors such as the emergence of advanced technologies offers enhanced visualizations in several industry verticals, which include consumer electronics, retail, sports & entertainment, and transportation. 3D displays are a trend in consumer electronics and entertainment sectors. In addition, flexible display technologies witness popularity at a high pace. Moreover, display technologies such as organic light-emitting diode (OLED) have gained increased importance in products such as televisions, smart wearables, smartphones, and other devices provide lucrative opportunities for market growth.

Report Coverage and Details:

Opportunities

Report Coverage	Details
Forecast Period	2022–2032
Base Year	2022
Market Size in 2022	$124.1 billion
Market Size in 2032	$242.1billion
CAGR	6.8 %
No. of Pages in Report	346
Segments Covered	Display Type, Technology, Application, Industry Vertical, and Region.
Drivers	High demand for flexible display technology in consumer electronics devices
	Surge in adoption of LED displays for digital signage, TVs, and video wall applications
	Rise in trend of touch-based devices
Opportunities	Growth adoption of AR/VR devices and commercialization of autonomous vehicles
Restraints	High cost of the transparent and quantum dot display technologies
Restraints	Owing to drastic shift toward online advertisement and shopping hamper the growth of displays in retail sector

The Flat Panel display segment to maintain its leadership status throughout the forecast period

Based on display type, the flat panel display segment held the highest market share in 2022, accounting for more than two-thirds of the global display industry revenue and is estimated to maintain its leadership status throughout the forecast period. Flat panel displays are gaining popularity in a variety of applications, particularly in the retail sector. The retail sector is having significant demand for liquid crystal display and plasma display panel technologies to be utilized in flat digital signage.

The LCD segment to maintain its leadership status throughout the forecast period

Based on technology, the LCD segment held the highest market share in 2022, accounting for around three-fifths of the global display market and is estimated to maintain its leadership status throughout the forecast period. Growing production of electronic devices such as computer monitors, aircraft cockpit displays, instrument panels, outdoor signage, indoor signage, and LCD televisions is responsible for the increasing demand for the LCD display. However, the OLED segment is projected to manifest the highest CAGR of 8.86% from 2023 to 2032.

The Consumer Electronics segment to maintain its leadership status throughout the forecast period

Based on industry vertical, the consumer electronics segment held the highest market share in 2022, accounting for around one-third of the global display market and is estimated to maintain its leadership status throughout the forecast period. However, the automotive segment is projected to manifest the highest CAGR of 9.88% from 2023 to 2032, rise in demand for consumer electronics boosts the adoption of display technology, which fuels the growth of the market. Technological advancements, expansion of the consumer electronics industry, and increasing applications across different end-use segments are expected to drive the global market growth.

Asia-Pacific to maintain its dominance by 2032

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global wire and cable market revenue and is likely to dominate the market during the forecast period. This region also held the major CAGR of 7.34% in 2031. The surge in demand for interactive display, video walls, and touchscreen technology in this region is expected to boost the market. Interactive touch screen is a leading technology in every region that delivers versatility for retail POS system and provides high intuitive touch experience.

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Leading Market Players:

BOE Technology Group Co., Ltd.
Samsung Electronics Co Ltd.
Innolux Corporation
Panasonic Corporation
Japan Display Inc.
AUO Corporation
Sharp Corporation
Sony Corporation
NEC Corporation
Leyard Optoelectronic Co., Ltd.
LG Display Co Ltd.

The report provides a detailed analysis of these key players in the global display market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Key Benefits For Stakeholders:

This study comprises an analytical depiction of the display market size along with the current trends and future estimations to depict the imminent investment pockets.
The overall display market analysis is determined to understand the profitable trends to gain a stronger foothold.
The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
The display market forecast is quantitatively analyzed from 2022 to 2031 to benchmark the financial competency.
Porter's five forces analysis illustrates the potency of the buyers and suppliers in the display market.
The report includes the share of key vendors and market trends.

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Outdoor LED Display Market is Anticipated to Garner $14.52 Billion by 2030, registering a CAGR of 9.1% from 2021 to 2030

Automotive LCD Display Market is Estimated to Attain $12.2 Billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031

Wireless Display Market is Projected to Reach $9.71 Billion by 2030, growing at a CAGR of 11.0% from 2021 to 2030

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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