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SkyQuest, a global market intelligence, innovation management & commercialization organization, published a report on, "Display Market Size, Share, Growth Analysis, By Display Technology, Product, Panel Size, Resolution, Vertical, and Region - Industry Forecast 2024-2031". According to the report, the Display Market size was valued at USD 152.46 billion in 2022 and is expected to grow from USD 157.8 Billion in 2023 to reach USD 207.79 Billion by 2031, at a CAGR of 3.5% during the forecast period (2024-2031).
The display market is a vivid and swiftly changing sector comprising a diverse range of technologies and uses. With the development of sophisticated display technologies, the market is ready to take off with the ever-increasing trend of high-resolution displays and unforgettable watching experiences. Nowadays, consumers are constantly demanding displays with higher resolutions, vibrant colors, and even brighter levels of brightness, which, in turn, forces manufacturers to go creative and produce new cutting-edge display technologies to meet these demands.
LCD to Dominate the Market Share by Offering Best Quality Visuals at Lower Costs.
The LCD segment has proven itself as the dominant segment in the market since it is the most cost-efficient technology to produce the best quality visuals and therefore maintains its position as the choice for both manufacturers and consumers. Over the past few years, innovations like In-Plane Switching (IPS) have improved the capabilities of LCDs, bringing true color and wide viewing angles which has accelerated the consumer expectations and demands for such advancements in this segment.
OLED Registers as Fastest Growing Segment Due to its Sheer Flexibility with Sharp Colours
The fastest-growing segment in the display market is Organic Light-Emitting Diode (OLED) technology. OLED screens have gained a reputation for their sharp colors, inky blacks, and sheer flexibility. OLED displays have higher qualities and are widely used in the production of premium televisions, smartphones, and wearable devices. This fast growth of OLED demonstrates its role in the future technology, thereby allowing displays to break the limits of what they can achieve.
Presence of Key Manufacturing Hubs Helps Asia Pacific to Dominate the Display Market
Asia Pacific appears to be more advanced and exposed as it has a high stake in leading the growth and development of this industry. Primarily, latest manufacturing hubs, development of technology and increasing consumer base for electronics have been seen to be the key factors which makes the region dominant. Due to the growth of Interest in owning smartphones, tablets and digital TVs in the Asia Pacific region it has emerged as a strong growth pillar for the growth of high-definition displays in the worldwide economy.
Display Market Insights:
Drivers
- Increasing use of LED displays for video walls, TVs, and digital signage applications
- Decline in demand for displays in retail sector due to drastic shift toward online advertisement and shopping
- Increasing demand for high-resolution and immersive display experiences
Restraints
- Concerns related to Energy consumption
- Decline in demand for displays in retail sector due to drastic shift toward online advertisement and shopping
- High manufacturing costs of advanced display technologies
Prominent Players in Display Market
The following are the Top Display Companies
Key Questions Answered in Display Market Report
- What is the current value for the display market?
- Which region is expected to hold the largest market share for the display market?
- What are the major strategies adopted by the display market players?
This report provides the following insights:
- Analysis of key drivers (growing demand for better data security, rising adoption of Blockchain and IoT technologies, increasing use of decentralized systems in different industry verticals), restraints (interoperability issues with legacy systems, complexities in integration with existing infrastructure, concerns regarding scalability of gas cleaning technologies systems), and opportunities (growing demand for data monetization, rising demand for transparent yet trusted transactions), influencing the growth of display market.
- Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.
- Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the display market.
- Market Development: Detailed analysis of potential regions where the market has potential to grow.
- Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.
- Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.
Click here to read the report titled, 'Display Market Size, Share, Growth Analysis, By Display Technology, Product, Panel Size, Resolution, Vertical, and Region - Industry Forecast 2024-2031'.
