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Flat Panel Displays Market

Global Market Study on Flat Panel Displays: LCD Technology to Witness Highest Growth During the Period.

Flat Panel Displays Market by Technology (Liquid Crystal Display (LCD), Plasma Display (PDP) and Organic Light Emitting Diode (OLED))

Flat Panel Displays Market Outlook (2023 to 2033)

The Market for Flat Panel Displays was valued at US$ 120,001.1 Million in 2022, and it is anticipated to have grown to US$ 268,158.4 Million by the end of 2033. The market for flat panel displays is estimated to evaluate to US$ 127,321.2 Million in 2023 and is estimate to grow at a CAGR of 7.7% from 2023 to 2033.

Flat panel displays refer to electronic displays that use flat panel technologies such as LCD, OLED, and LED to produce images. The flat panel displays consist of 32.5% of the global display market.

These displays are characterized by their thin, lightweight, and energy-efficient design, which makes them suitable for use in a wide range of devices, including smartphones, televisions, computer monitors, digital signage, and automotive displays.

Flat panel displays have largely replaced the bulky and power-hungry cathode ray tube (CRT) displays that were once the industry standard. The display technology used in flat panel displays varies, but all of these technologies rely on the manipulation of light to produce images.

LCD displays, which use liquid crystals to block or allow light to pass through, are the most common type of flat panel display. OLED displays, which use organic compounds to emit light, are known for their high contrast and excellent color reproduction. LED displays use light-emitting diodes to produce images and are commonly used in outdoor displays and automotive displays.

The flat panel displays market in North America held 25.2% which is the uppermost market share in the worldwide landscape in 2022 and is projected to retain its position within the forecast period. The demand for flat panel displays in the Europe region it held around 19.2% of the market in 2022.

Flat Panel Displays Market Size (2023)

US$ 127,321.2 million

Projected Market Value (2033)

US$ 268,158.4 million

Global Market Growth Rate (2023 to 2033)

7.7%

Organic Light Emitting Diode (OLED) Market Share (2022)

30.3%

India Market Growth Rate (2023 to 2033)

15.6%

Consumer Electronics Market CAGR (2023 to 2033)

8.9%

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What Restraints Will Act as Obstruct for the Growth of Flat Panel Displays Market?

“The Higher Cost of Flat display will hamper the Flat Panel Displays market”

The higher cost of flat panel displays can be a significant restraint on the growth of the market. Flat panel displays, particularly those that use newer technologies such as OLED, can be expensive to produce. This higher cost can be passed on to consumers, making these displays less accessible to a wider range of consumers.

Additionally, higher costs can make it difficult for manufacturers to compete in certain markets, particularly those where cost is a major factor in purchasing decisions. In some cases, consumers may choose to purchase cheaper displays that use older technology rather than investing in the latest and most expensive flat panel displays.

However, it is worth noting that the cost of flat panel displays has been declining in recent years, making them more accessible to consumers.

As production methods improve and economies of scale are achieved, the cost of these displays is expected to continue to decline, which could help to overcome this restraint on market growth.

  • In January 2023, Sharp Announces Launch of Flagship 4K TV, AQUOS XLED, in the USA. The AQUOS XLED symbolizes a new wave of innovation in terms of design, sound systems, and image quality. It was first introduced to the market in Japan in 2021 before moving on to Grand China, where it was well received.
  • In January 2023, LG Display Has announced that it would reveal its third-generation OLED TV panel at CES 2023. The newest OLED TV panel from the business, which is based on "META Technology" offers the best possible picture quality.
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Why is Demand for Flat Panel Displays increasing across USA?

“The Growing Demand for Energy-Efficient Displays will boost the Demand for Flat Panel Displays market in United States of America”

The growing demand for energy-efficient displays is expected to boost the demand for flat panel displays in the United States of America.

Flat panel displays are generally more energy-efficient than older display technologies, such as CRT displays, which makes them an attractive option for businesses and consumers seeking to reduce their energy consumption.

This demand is driven by several factors, including a growing awareness of the environmental impact of energy consumption in United States of America, as well as rising energy costs.

In addition, United States government and regulatory bodies are implementing energy efficiency standards, which are driving demand for more efficient displays.

The trend towards energy-efficient displays is expected to continue in the coming years, which will further boost the demand for flat panel displays.

Manufacturers are responding to this demand by developing displays that are even more energy-efficient, such as OLED displays that consume less power than traditional LCD displays. The USA has highest market share in flat panel displays of 14.4%.

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What Factors Allow India to Be a Major Market for Flat Panel Displays?

“The Increasing Penetration of Digital Devices in India Will Boost the Flat Panel Displays Market”

The increasing penetration of digital devices in India is expected to boost the flat panel displays market.

India has seen rapid growth in the adoption of digital devices such as smartphones, tablets, and laptops in recent years. As a result, there is a growing demand for flat panel displays that can deliver high-quality images and video.

This demand is being driven by several factors, including a growing middle-class population with increasing disposable incomes, improving internet connectivity, and the increasing availability of digital content.

In addition, many businesses are adopting digital technologies for advertising and marketing, which has driven demand for flat panel displays for use in digital signage and other applications.

The trend towards increasing adoption of digital devices is expected to continue in the coming years, which will further boost the demand for flat panel displays in India.

As a outcome, manufacturers are investing in production facilities in India to meet this demand, which will help to drive down costs and make flat panel displays more accessible to a wider range of consumers. The Indian market will grow with CAGR of 15.6% over the forecasted period.

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What Factors Is Allowing Flat Panel Displays to Grow in United Kingdom?

“The Increasing Adoption of Smart Home Technologies Will Boost the Flat Panel Displays Market in United Kingdom”

The increasing adoption of smart home technologies is expected to boost the flat panel displays market in the United Kingdom. Smart home technologies include devices such as smart speakers, security systems, and home automation systems, many of which require flat panel displays for their operation.

As the adoption of smart home technologies continues to grow in the United Kingdom, there is a growing demand for larger, higher-quality flat panel displays with advanced features such as voice control and compatibility with smart home systems. This trend is driving the growth of the flat panel displays market in the United Kingdom.

In addition, the integration of flat panel displays with smart home technologies is creating new opportunities for the use of displays in the home.

Category-wise Insights

What Are Different Factors Allow Organic Light Emitting Diode (OLED) displays in Flat Panel Displays to Dominate the Market?

“Superior Image Quality of OLED Display will drive the Demand for Flat Panel Displays Market”

OLED (organic light-emitting diode) displays are known for their high contrast ratio, wide viewing angle, and deep blacks, which result in a superior image quality compared to other display technologies such as LCD (liquid crystal display). This makes OLED displays particularly attractive for use in high-end TVs, smartphones, and other display applications where image quality is paramount.

As consumers increasingly demand better image quality in their devices, the popularity of OLED displays is expected to grow, driving demand for flat panel displays in general. This is because OLED displays are a type of flat panel display, along with LCD and other technologies. The flat panel display market is already a large and growing industry, driven by the increasing use of displays in a variety of applications, including TVs, smartphones, tablets, laptops, and more.

Furthermore, as OLED technology continues to improve and become more affordable, it is expected to gain a larger share of the overall flat panel display market, potentially displacing LCD as the dominant technology in certain applications.

These factors allow OLED display to have held the dominant market share of 30.3% for the flat panel displays market in 2022.

What Factors are influencing the Demand for Consumer Electronics in Flat Panel Displays market?

“Rapid Technological advancements in the Displays that Will Boost the Flat Panel Displays Market”

The display technology is continuously evolving, leading to the development of newer and better displays with improved resolution, colour accuracy, and brightness. This creates a demand for flat panel displays that can accommodate these technological advancements and provide consumers with the latest display technology.

Increasing use of display technology in various applications such as smartphones, tablets, laptops, televisions, gaming monitors, and digital signage, the demand for flat panel displays is expected to grow significantly in the coming years.

The emergence of new display technologies such as OLED, QLED, Micro-LED, and Mini-LED is driving innovation and competition in the flat panel displays market, leading to the development of more advanced and sophisticated displays.

These factors allow the consumer electronics segment to expand at a CAGR of 8.9% over the forecast period.

Competitive Landscape

The companies that manufacture flat panel displays are focusing on developing technologically advanced products that can be easily and conveniently installed by the end users, they can be consumers or industry verticals such as media professionals.

  • In January 2023, LG Display has announced that it will be revelling the cutting-edge automotive displays and solutions. Through these developments, the company will increase its competitiveness in the market, solidify its leadership position, and concentrate more of its efforts on the automotive sector, which is both a significant contributor to its order-to-order business and a powerful future growth engine.
  • In January 2023, The Panasonic Connect has announced the new generation of KAIROS, its state-of-the-art live production platform. The KC200 and KC2000 are two new Core mainframes that are included in the release, which also includes software improvements that will make the platform more scalable so that it can handle larger and more complex productions.

Recent developments related to key players providing flat panel displays market solutions have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.

Flat Panel Displays Market Report Scope

Attribute

Details

Forecast Period

2023 to 2033

Historical Data Available for

2018 to 2022

Market Analysis

US$ Million for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

Key Countries Covered

  • United States
  • Canada
  • Germany
  • United Kingdom
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • Australia & New Zealand
  • GCC Countries
  • Turkey
  • Israel
  • Northern Africa
  • South Africa

Key Market Segments Covered

  • Technology
  • Application
  • Region

Key Companies Profiled

  • Emerging Display Technologies Corp.
  • Innolux Corp.
  • Sharp Corporation
  • Japan Display Inc.
  • Electronics Co. Ltd.
  • Universal Display Corporation
  • LG Display Co. Ltd.
  • Panasonic Corporation
  • Sony Corporation
  • Others

Pricing

Available upon Request

Key Segments of Flat Panel Displays Market Industry Research

By Technology:

  • Liquid Crystal Display (LCD)
  • Plasma Display (PDP)
  • Organic Light Emitting Diode (OLED)
  • Others

By Application:

  • Consumer Electronics
    • Television (T.V)
    • Mobile Phones
    • Personal Computers
  • Automotive Applications
  • Other Applications

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia Pacific
  • Middle East and Africa

- Companies Covered in This Report -

  • Emerging Display Technologies Corp.
  • Innolux Corp.
  • Sharp Corporation
  • Japan Displays Inc.
  • Electronics Co. Ltd.
  • Universal Display Corporation
  • LG Display Co. Ltd
  • Panasonic Corporation
  • Sony Corporation
  • Others

- Frequently Asked Questions -

In 2022, the market value flat panel displays were US$ 120,001.1 million.

The global flat panel displays market is estimated to advance at 7.7% CAGR through 2033.

The market for flat panel displays is forecasted to climb to US$ 268,158.4 Mn by 2033 end.

Demand for flat panel displays market in India is projected to rise at a CAGR of 15.6% over the forecast period.

In 2022, the North America flat panel displays market held a dominant market share of 25.2%.

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