According to a new market research report on the "Display Panel Market by Technology (LCD, OLED, and Others), by Size (Small & Medium and Large), by Farm Factor (Flat and Flexible), by Resolution (8K, 4K, WQHD, FHD, HD, and Others), by Application, and by Geography - Global forecast to 2020", published by MarketsandMarkets, the market for Display Panels was valued at USD 114.16 Billion in 2014, and is expected to reach USD 156.57 Billion by 2020, at a CAGR of 5.60% between 2015 and 2020.
The television (TV) sector constituted the largest application in 2014 and is expected to continue to grow at a significant rate because of increasing demand for ultra-high definition (UHD) large panels for TVs. The market for display panels in digital signage, automotive display, mobile phones, and tablets is expected to grow at a considerable rate during the forecast period.
The Display Panel Market players have been focusing on the innovations in terms of technological advancements to cater to the specific needs of several industries and to increase their market share. OLED has been the emerging technology and the flexible OLED market is also expected to grow at a significant rate of 68.29% between 2015 and 2020, largely driven by the potential demand for mobile phones and tablets. The market for large size (above 10-inch) display panels has dominated the display panel market in 2014 and is expected to remain the major market during the forecast period. However, the market for small and medium size (<=10-inch) display panels is expected to grow at the higher rate than that of large-size panels between 2015 and 2020. This increase in growth for small and medium size display panels is expected to be driven by the growing demand for mobile phones, tablets, automotive, and smart watches.
Asia-Pacific was the largest market in 2014 with a share of 75.59%, followed by Europe and North America. display Panel market is a business-to-business (B2B) driven market and most of the display panel and OEM manufacturers are located in the Asia-Pacific region. This has resulted in the dominant position of the Asia-Pacific market. With the increasing applications of display panels in several applications, especially in automotive, medical and industrial equipment, the markets in Europe and North America are expected to grow at CAGRs of 7.31% and 7.50%, respectively between 2015 and 2020.
The report describes market dynamics that include the key drivers, restraints, challenges, and opportunities with respect to the display panel market and forecasts the market till 2020. This global report provides a detailed view of the market across technology, size, form factor, resolution, applications, and geographies. The report also profiles the prominent players in the market along with their key growth strategies. The competitive landscape of the market analyzes a large number of players with their market share. The market is witnessing numerous collaborations and partnerships across the value chain, to cater to various industries in different geographies.
The major companies in the global display panel market that have been included in this report are LG Display Co., Ltd. (South Korea), Samsung electronics Co., Ltd. (South Korea), Innolux Corporation (Taiwan), AU Optronics Corp. (Taiwan), Sharp Corporation (Japan), Japan Display Inc. (Japan), BOE Technology Group Co., Ltd. (China), Panasonic Corporation (Japan), HannStar Display Corporation (Taiwan), Chunghwa Picture Tubes Ltd. (Taiwan), and others.
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