Display Panel Market Report
RA00390
Display Panel Market, By Type (LCD, OLED), By Product Type (Rigid, Flexible, and Foldable), Application (Tablets and Mobile Phones, Television, Digital Signage, Automotive, Others), Regional Outlook (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2019–2027
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Impact of covid-19 on Display Panel Market
Display panel market accounted for $52,151.8 million in 2019 and is predicted to grow at a CAGR of 10.5% in the forecast period by generating a revenue of $1,19,339.1 million by 2027. Asia-Pacific market accounted for $19,306.6 million in 2019 and is predicted to rise with a CAGR of 12.5% in the forecast period. Increasing demand for OLED display in various electronic devices like smartphone, television, laptop screen and many more is predicted to drive the market in the forecast period. Display panels are expensive, which is the biggest restraint for the overall market in the forecast period.
Market Analysis
A display panel is an output device which displays the information in a visual form. With the help of vertical surface it displays all the necessary information. 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 monitors, smartphone screens.
COVID-19 Impact on the Global Display Panel Market
The COVID-19 pandemic has created a positive impact on the global display panel market. The work from home culture and rise in the demand of smart phones are predicted to drive the market during the pandemic. As it has been noticed that the due to shut down most of the manufacturing sites have been closed which have impacted negatively to the market during pandemic. But with the span of time once the unlock procedure starts there will be a steep rise in the market in terms of revenue.
Increasing demand of various electronic devices is predicted to drive the display panel market
Increase in the demand among the consumer of various electronic devices such as smartphone, television, computer monitor, laptops, and smart watches is predicted to be the major factor to drive the market in the forecast period. In addition, many manufacturers are focusing on producing OLEDs and LED screens that provide ultrahigh definition with improved picture quality and color saturation, which is predicted to be the major driving factor for the display panel market in the forecast period. Moreover, increasing use of electronic devices from various end use industry for various operational work is predicted to boost the display panel market in the forecast period. For instance, television sets are used to monitor the operational flow in manufacturing units, which is predicted to increase the demand of the display panels.
High cost of production is predicted to be the biggest restraint for the display panel market
Higher cost involved in manufacturing the display panel is considered to be the major restraint for the market in the forecast period. The thin structure and complicated process of making display panels makes it difficult for the manufacturers to get maximum profit as there are high chances of damaging the display panels, which is predicted to hinder the market growth in the forecast period. Moreover, the lifespan of the display panel is very short as compared to advanced widescreen alternatives such as screen less displays and projectors. This factor is predicted to hinder the market growth in the forecast period.
Flexible display is predicted to create more investment opportunity
Majority of the companies are investing more in the R&D for developing the flexible panels which is predicted create more opportunity in the global display panel market in the forecast period. For instance, in September 2020, apple is focusing to develop a product with a wraparound display for a smooth exterior appearance.
Display Panel Market, By Type
OLED sub-segment is predicted to be the most lucrative sub-segment
Source: Research Dive Analysis
OLED type sub-segment is predicted to have the highest market share in the forecast period. OLED sub-segment accounted for $31,001.0 million in 2019 and is predicted to rise with a CAGR of 13.9% in the forecast period. OLED sub-segment is predicted to have maximum growth rate in the forecast period. Increasing demand of OLED screen in manufacturing of various electronic devices such as smartphones, smartwatches television and many others is predicted to boost the sub-segment in the forecast period. Moreover, huge investment by majority of the companies for manufacturing of OLED screens is predicted to boost the sub-segment in the forecast period.
Display Panel Market, By Product Type
Flexible sub-segment is predicted to be the most profitable sub-segment
Source: Research Dive Analysis
Flexible panel is predicted to grow enormously in the forecast period. Flexible panel sub-segment accounted for $35,726.0 million in 2019 and is predicted to rise with a CAGR of 11.7% in the forecast period. Flexible panel offers better durability, is lighter in weight, thinner in dimension and has inbuilt capacity to identify the software command, which makes it unique as compared to other forms. Moreover, flexible panel can be turned and twisted in all directions and is considered to be the most preferred display panel due to its unique features segment.
Display Panel Market, By Application
Television sub-segment is predicted to grow enormously
Source: Research Dive Analysis
Smartphones and tablet sub-segment is predicted to have the highest market share in the forecast period. Smartphones and tablet sub-segment accounted for $34,259.1 million in 2019 and is predicted to rise with a CAGR of 9.9% in the forecast period. Increasing demand of smartphones among the users and rise in R&D by various mobile manufacturers is predicted to drive the sub-segment in the forecast period.
Display Panel Market, By Region
Asia-Pacific region market is predicted to create more growth opportunity for the investors in the estimated period
Source: Research Dive Analysis
Asia-Pacific market is predicted to have maximum growth rate in the forecast period. Asia-Pacific market accounted for $19,306.6 million in 2019 and is predicted to rise with a CAGR of 12.5% in the forecast period. The regional market is predicted to grow with the presence of large number of manufacturing units and adoption of new technology within the technology among users. North America market accounted for $14,148.8 million in 2019 and is predicted to rise with a CAGR of 9.7% in the forecast period. Increasing disposable income and increase in the demand of various electronic devices across the nation is predicted to drive the market in the forecast period.
Key Players in the Global Display Panel Market
The major key players in the display panel market are Chunghwa Picture Tubes, Ltd., Hannstar display corporation, Panasonic Corporation, BOE Technology Group Co., Ltd, Japan Display Inc., SHARP CORPORATION, AU Optronics Corp., Innolux Corporation, SAMSUNG,and LG Electronics. among others.
Porter’s Five Forces Analysis for Display Panel Market:
- Bargaining Power of Suppliers: The switching cost from one supplier to another is projected to be high.
The bargaining power of suppliers is very High.
- Bargaining Power of Consumers: In this market, the concentration of buyers is High.
The bargaining power of consumers is High.
- The threat of New Entrants: Huge initial investments are essential to start a new manufacturing unit for display panels.
The threat of new entrants is High.
- The threat of Substitutes: There are numerous products available in market.
The threat of substitutes is High.
- Competitive Rivalry in the Market: Many major players are following several strategies, and product differentiation among them. The competitive rivalry in the industry is High.
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Aspect |
Particulars |
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Historical Market Estimations |
2019-2020 |
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Base Year for Market Estimation |
2019 |
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Forecast timeline for Market Projection |
2020-2027 |
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Geographical Scope |
North America, Europe, Asia-Pacific, LAMEA |
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Sub-segmentation by Type |
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Sub-segmentation by Product Type |
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Sub-segmentation by Application |
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Key Countries Covered |
U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, China, Japan, India, Australia, South Korea, Rest of Asia-Pacific, Latin America, Middle East, Africa and Rest of LAMEA |
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Key Companies Profiled |
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Q1. What is the size of Display Panel Market?
A. The global display panel market size was over $52,151.8 million in 2019, and is predicted to grow with a CAGR of 10.5% over the forecast period.
Q2. Which are the leading companies in the Display Panel Market?
A. Samsung electronics co. Ltd. and LG display co. Ltd are some of the key players in the global display panel market.
Q3. Which are the leading companies in the Display Panel Market?
A. Samsung electronics co. Ltd. and LG display co. Ltd are some of the key players in the global display panel market.
Q4. Which region possesses greater investment opportunities in the coming future?
A. Asia-Pacific possesses great investment opportunities for the investors to witness the most promising growth in the coming years.
Q5. What is the growth rate of Asia-Pacific?
A. Asia-Pacific display panel market is projected to grow at 12.5% CAGR during the forecast period.
Q6. What are the strategies opted by the leading players in this market?
A. Product development is the key strategy opted by the operating companies in this display panel market.
Q7. Which companies are investing more on R&D practices?
A. The Samsung electronics Inc. is the company investing more on R&D activities for developing new products and technologies.
1. Research Methodology
1.1. Desk Research
1.2. Real time insights and validation
1.3. Forecast model
1.4. Assumptions and forecast parameters
1.4.1. Assumptions
1.4.2. Forecast parameters
1.5. Data sources
1.5.1. Primary
1.5.2. Secondary
2. Executive Summary
2.1. 360° summary
2.2. Type trends
2.3. Product type trends
2.4. Application trends
3. Market Overview
3.1. Market segmentation & definitions
3.2. Key takeaways
3.2.1. Top investment pockets
3.2.2. Top winning strategies
3.3. Porter’s five forces analysis
3.3.1. Bargaining power of consumers
3.3.2. Bargaining power of suppliers
3.3.3. Threat of new entrants
3.3.4. Threat of substitutes
3.3.5. Competitive rivalry in the market
3.4. Market dynamics
3.4.1. Drivers
3.4.2. Restraints
3.4.3. Opportunities
3.5. Technology landscape
3.6. Regulatory landscape
3.7. Patent landscape
3.8. Pricing overview
3.8.1. By Type
3.8.2. By Product type
3.8.3. By application
3.8.4. By region
3.9. Market value chain analysis
3.9.1. Stress point analysis
3.9.2. Raw material analysis
3.9.3. Manufacturing process
3.9.4. Distribution channel analysis
3.9.5. Operating vendors
3.9.5.1. Raw material suppliers
3.9.5.2. Product manufacturers
3.9.5.3. Product distributors
3.10. Strategic overview
4. Disaster Recovery as a Service Market, by Type
4.1. LCD
4.1.1. Market size and forecast, by region, 2019-2026
4.1.2. Comparative market share analysis, 2019-2026
4.2. OLED
4.2.1. Market size and forecast, by region, 2019-2026
4.2.2. Comparative market share analysis, 2019-2026
4.2.3.
5. Disaster Recovery as a Service Market, by Product Type
5.1. Rigid
5.1.1. Market size and forecast, by region, 2019-2026
5.1.2. Comparative market share analysis, 2019-2026
5.2. Flexible
5.2.1. Market size and forecast, by region, 2019-2026
5.2.2. Comparative market share analysis, 2019-2026
5.3. Foldable
5.3.1. Market size and forecast, by region, 2019-2026
5.3.2. Comparative market share analysis, 2019-2026
6. Disaster Recovery as a Service Market, by Application
6.1. Tablets and Mobile Phones
6.1.1. Market size and forecast, by region, 2019-2026
6.1.2. Comparative market share analysis, 2019-2026
6.2. Television
6.2.1. Market size and forecast, by region, 2019-2026
6.2.2. Comparative market share analysis, 2019-2026
6.3. Digital Signage
6.3.1. Market size and forecast, by region, 2019-2026
6.3.2. Comparative market share analysis, 2019-2026
6.4. Automotive
6.4.1. Market size and forecast, by region, 2019-2026
6.4.2. Comparative market share analysis, 2019-2026
6.5. Others
6.5.1. Market size and forecast, by region, 2019-2026
6.5.2. Comparative market share analysis, 2019-2026
7. Disaster Recovery as a Service Market, by Region
7.1. North Region
7.1.1. Market size and forecast, by Type, 2019-2026
7.1.2. Market size and forecast, by Product Type, 2019-2026
7.1.3. Market size and forecast, by Application, 2019-2026
7.1.4. Market size and forecast, by country, 2019-2026
7.1.5. Comparative market share analysis, 2019-2026
7.1.6. U.S
7.1.7. Market size and forecast, by Type, 2019-2026
7.1.8. Market size and forecast, by Product Type, 2019-2026
7.1.9. Market size and forecast, by Application, 2019-2026
7.1.10. Comparative market share analysis, 2019-2026
7.1.11. Canada
7.1.12. Market size and forecast, by Type, 2019-2026
7.1.13. Market size and forecast, by Product Type, 2019-2026
7.1.14. Market size and forecast, by Application, 2019-2026
7.1.15. Comparative market share analysis, 2019-2026
7.1.16. Mexico
7.1.17. Market size and forecast, by Type, 2019-2026
7.1.18. Market size and forecast, by Product Type, 2019-2026
7.1.19. Market size and forecast, by Application, 2019-2026
7.1.20. Comparative market share analysis, 2019-2026
7.2. Europe
7.2.1.1. Market size and forecast, by Type, 2019-2026
7.2.1.2. Market size and forecast, by Product Type, 2019-2026
7.2.1.3. Market size and forecast, by Application, 2019-2027
7.2.1.4. Comparative market share analysis, 2019-2026
7.2.2. Germany
7.2.2.1. Market size and forecast, by Type, 2019-2026
7.2.2.2. Market size and forecast, by Product Type, 2019-2026
7.2.2.3. Market size and forecast, by Application, 2019-2026
7.2.2.4. Comparative market share analysis, 2019-2026
7.2.3. France
7.2.3.1. Market size and forecast, by Type, 2019-2026
7.2.3.2. Market size and forecast, by Product Type, 2019-2026
7.2.3.3. Market size and forecast, by Application, 2019-2026
7.2.3.4. Comparative market share analysis, 2019-2026
7.2.4. Italy
7.2.4.1. Market size and forecast, by Type, 2019-2026
7.2.4.2. Market size and forecast, by Product Type, 2019-2026
7.2.4.3. Market size and forecast, by Application, 2019-2026
7.2.4.4. Comparative market share analysis, 2019-2026
7.2.5. Rest of Europe
7.2.5.1. Market size and forecast, by Type, 2019-2026
7.2.5.2. Market size and forecast, by Product Type, 2019-2026
7.2.5.3. Market size and forecast, by Application, 2019-2026
7.2.5.4. Comparative market share analysis, 2019-2026
7.3. Asia-Pacific
7.3.1. Market size and forecast, by Type, 2019-2026
7.3.2. Market size and forecast, by Product Type, 2019-2026
7.3.3. Market size and forecast, by Application, 2019-2026
7.3.4. Market size and forecast, by country, 2019-2026
7.3.5. Comparative market share analysis, 2019-2026
7.3.6. China
7.3.6.1. Market size and forecast, by Type, 2019-2026
7.3.6.2. Market size and forecast, by Product Type, 2019-2026
7.3.6.3. Market size and forecast, by Application, 2019-2026
7.3.6.4. Comparative market share analysis, 2019-2026
7.3.7. India
7.3.7.1. Market size and forecast, by Type, 2019-2026
7.3.7.2. Market size and forecast, by Product Type, 2019-2026
7.3.7.3. Market size and forecast, by Application, 2019-2026
7.3.7.4. Comparative market share analysis, 2019-2026
7.3.8. Japan
7.3.8.1. Market size and forecast, by Type, 2019-2026
7.3.8.2. Market size and forecast, by Product Type, 2019-2026
7.3.8.3. Market size and forecast, by Application, 2019-2026
7.3.8.4. Comparative market share analysis, 2019-2026
7.3.9. South Korea
7.3.9.1. Market size and forecast, by Type, 2019-2026
7.3.9.2. Market size and forecast, by Product Type, 2019-2026
7.3.9.3. Market size and forecast, by Application, 2019-2026
7.3.9.4. Comparative market share analysis, 2019-2026
7.3.10. Australia
7.3.10.1. Market size and forecast, by Type, 2019-2026
7.3.10.2. Market size and forecast, by Product Type, 2019-2026
7.3.10.3. Market size and forecast, by Application, 2019-2026
7.3.10.4. Comparative market share analysis, 2019-2026
7.3.11. Rest of Asia Pacific
7.3.11.1. Market size and forecast, by Type, 2019-2026
7.3.11.2. Market size and forecast, by Product Type, 2019-2026
7.3.11.3. Market size and forecast, by Application, 2019-2026
7.3.11.4. Comparative market share analysis, 2019-2026
7.4. LAMEA
7.4.1. Market size and forecast, by Type, 2019-2026
7.4.2. Market size and forecast, by Product Type, 2019-2026
7.4.3. Market size and forecast, by Application, 2019-2026
7.4.4. Market size and forecast, by country, 2019-2026
7.4.5. Comparative market share analysis, 2019-2026
7.4.6. Latin America
7.4.6.1. Market size and forecast, by Type, 2019-2026
7.4.6.2. Market size and forecast, by Product Type, 2019-2026
7.4.6.3. Market size and forecast, by Application, 2019-2026
7.4.6.4. Comparative market share analysis, 2019-2026
7.4.7. Middle East
7.4.7.1. Market size and forecast, by Type, 2019-2026
7.4.7.2. Market size and forecast, by Product Type, 2019-2026
7.4.7.3. Market size and forecast, by Application, 2019-2026
7.4.7.4. Comparative market share analysis, 2019-2026
7.4.8. Africa
7.4.8.1. Market size and forecast, by Type, 2019-2026
7.4.8.2. Market size and forecast, by Product Type, 2019-2026
7.4.8.3. Market size and forecast, by Application, 2019-2026
7.4.8.4. Comparative market share analysis, 2019-2026
8. Company profiles
8.1. Chunghwa picture tubes ltd
8.1.1. Business overview
8.1.2. Financial performance
8.1.3. Product portfolio
8.1.4. Recent strategic moves & developments
8.1.5. SWOT analysis
8.2. Hannstar display corporation.
8.2.1. Business overview
8.2.2. Financial performance
8.2.3. Product portfolio
8.2.4. Recent strategic moves & developments
8.2.5. SWOT analysis
8.3. Panasonic corporation
8.3.1. Business overview
8.3.2. Financial performance
8.3.3. Product portfolio
8.3.4. Recent strategic moves & developments
8.3.5. SWOT analysis
8.4. BOE technology group co. Ltd.
8.4.1. Business overview
8.4.2. Financial performance
8.4.3. Product portfolio
8.4.4. Recent strategic moves & developments
8.4.5. SWOT analysis
8.5. Japan display Inc.
8.5.1. Business overview
8.5.2. Financial performance
8.5.3. Product portfolio
8.5.4. Recent strategic moves & developments
8.5.5. SWOT analysis
8.6. Sharp corporation
8.6.1. Business overview
8.6.2. Financial performance
8.6.3. Product portfolio
8.6.4. Recent strategic moves & developments
8.6.5. SWOT analysis
8.7. Au optronics corporation.
8.7.1. Business overview
8.7.2. Financial performance
8.7.3. Product portfolio
8.7.4. Recent strategic moves & developments
8.7.5. SWOT analysis
8.8. Innolux corporation
8.8.1. Business overview
8.8.2. Financial performance
8.8.3. Product portfolio
8.8.4. Recent strategic moves & developments
8.8.5. SWOT analysis
8.9. Samsung electronics co. Ltd
8.9.1. Business overview
8.9.2. Financial performance
8.9.3. Product portfolio
8.9.4. Recent strategic moves & developments
8.9.5. SWOT analysis
8.10. LG display co. Ltd
8.10.1. Business overview
8.10.2. Financial performance
8.10.3. Product portfolio
8.10.4. Recent strategic moves & developments
8.10.5. SWOT analysis
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.
Conclusion
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.
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