A display panel is an output device which displays the information in visual form in any electronic device. With the help of vertical surface, it displays all the required visuals. Display panels are used to show information in a form of picture, video, or text. The display panels available at present are used in the manufacturing of LED and OLED screens, as these screens are suited with high mobility electronic equipment. The most common applications of display panels are in television sets, computer and laptop monitors, and smart phone screens.
Factors Attributing to the Growth of the Market
Popularity of new-generation electronic devices such as smartphone, television, computer monitor, laptops with sleek design, and smart watches is expected to drive the market growth in the forecast period. Another attributor of the growth of the market is the production and manufacturing of OLEDs and LED screens with high-definition with improved picture quality and color saturation. Moreover, increasing adoption of electronic devices by industries is predicted to boost the display panel market in the upcoming years.
Recent Strategies and Developments in the Industry
According to a recent report by Research Dive, the leading players of the global display panel market are LG Electronics., Hannstar display corporation, Chunghwa Picture Tubes, Ltd., BOE Technology Group Co., Ltd, Panasonic Corporation, SHARP CORPORATION, Japan Display Inc., Innolux Corporation, AU Optronics Corp., and SAMSUNG among others..
Various smart strategies are being adopted by these market players. These strategies include mergers and acquisitions, product innovation and launches, partnerships and collaborations, and current technology upgradation to obtain the highest market size.
Some of the recent advances of the market:
- As per a recent news, Panasonic Corporation made a public announcement about the collaboration treaty with GS-Solar (China) Company Ltd. in the field of photovoltaic technology. The agreement permits GS-Solar (China) to acquire Panasonic’s solar manufacturing subsidiary, Panasonic Energy Malaysia, while founding a new company with Panasonic. The new company will focus on the research and development of HIT technology. Both companies in the partnership will jointly perform the investment and operations in the new company.
- Japan Display Inc. (JDI), a leader in automotive displays has announced a collaboration with a leading automotive technology company Faurecia. The main aim of this partnership is to improve the user experience in the digitally operated vehicles. The joint venture will focus on the expansion and incorporation of large displays into automotive interiors.
- According to another news, Innolux Display Corp. has recently made an official announcement about the completion of its merger with Chi Mei Optoelectronics and TPO Displays Corp. After the merger, Innolux Display Corp. is renamed as Chimei Innolux Corporation. This mega-merger indicates the beginning of a new era in the global panel industry, according to industry leaders.
- Samsung Electronics announced about its completion of the acquisition of Harman International Industries, Incorporated (“HARMAN”) in 2017. Under the terms of the merger agreement, HARMAN stockholders received $112.00 per share in cash.
- As per another latest news, the LG Electronics (LG) has recently confirmed the acquisition of leading automotive solution provider ZKW Group, topping a deal almost EUR 1.1 billion, LG's largest acquisition till present. LG Electronics is going to gain a 70 percent stake in ZKW Group.
- On July 23, 2020, LG Display, the world's leading innovator of display technologies announced about the commencement of mass-production in earnest at its 8.5th generation (2,200mm x 2,500mm) OLED panel production plant in Guangzhou, China.
At its OLED panel construction plant in Paju, Korea, LG Display is currently producing 70,000 sheets every month. With this step, the production competence will almost reach to 130,000 sheets per month.
The global display panel market is experiencing a rising graph of growth during the forecast period with all these innovations and strategies. The new entrants and leading players of the market are emphasizing on sustaining the growth of the market by creating newer opportunities.