Display Market Overview, 2024-2029

The display market is witnessing significant growth owing to advancements in display technologies, increasing demand for high-resolution displays, and expanding applications across various industries. Displays are essential components in electronic devices ranging from smartphones, tablets, and laptops to televisions, digital signage, automotive displays, and wearable devices. The earliest displays were based on cathode ray tube technology, which was first developed in the late 19th century. CRT displays were widely used in televisions, computer monitors, and oscilloscopes throughout much of the 20th century. LCD technology emerged in the 1960s and 1970s but became commercially viable in the 1980s.

LCDs offered significant advantages over CRTs, including thinner profiles, lower power consumption, and the ability to display sharper images. They quickly gained popularity in laptops, calculators, digital watches, and eventually flat-screen televisions. Plasma display panels (PDPs) gained prominence in the late 1990s and early 2000s as an alternative to CRTs and LCDs for large-screen televisions and professional displays. In recent years, there has been significant progress in the development of flexible display technologies, including flexible OLED and e-paper displays.

The Asia-Pacific region, particularly China, South Korea, and Japan, dominates the global display market due to the presence of major display manufacturers and high demand for consumer electronics. However, other regions like North America and Europe also play significant roles in display technology development and innovation. The display market is highly competitive with numerous players competing based on factors such as product quality, price, innovation, and brand reputation.

Major companies in the industry include Samsung Display, LG Display, BOE Technology Group, Sony Corporation, Sharp Corporation, and others. The display market is expected to continue growing driven by increasing demand for high-quality displays in various consumer electronics devices, rising adoption of flexible and foldable displays, and advancements in AR/VR technologies. Additionally, the emergence of new display technologies like Micro LED and mini-LED holds promise for future market expansion.

According to the research report, “Global Display Market Overview, 2029”, the market is anticipated to cross USD 245 Billion by 2029, increasing from USD 163.12 Billion in 2023. The market is expected to grow with 7.25% CAGR by 2024-29. Key drivers of the display market include increasing demand for high-resolution displays, growing adoption of OLED technology, rising popularity of smart devices, and expanding applications in automotive and healthcare sectors. The display market is dominated by key players such as Samsung Electronics, LG Display, AU Optronics, BOE Technology, Sharp Corporation, Innolux Corporation, Japan Display Inc., and Sony Corporation.

Flexible display technologies, such as flexible OLED (Organic Light Emitting Diode) and flexible LCD (Liquid Crystal Display), allow screens to bend and curve, enabling the creation of foldable smartphones, rollable televisions, and wearable devices with unique form factors. These displays offer improved durability, portability, and design flexibility. Biometric display technology integrates fingerprint sensors, facial recognition cameras, or iris scanners directly into the display panel, allowing for seamless authentication and security features in smartphones, laptops, and other devices.

Manufacturers are continually striving to improve the energy efficiency of displays by developing low-power technologies, such as IGZO (Indium Gallium Zinc Oxide) thin-film transistors and advanced backlighting systems. Energy-efficient displays help to extend battery life in portable devices and reduce power consumption in large-scale installations. High-refresh-rate displays with refresh rates of 120Hz, 144Hz, or even higher are becoming increasingly common in gaming monitors and smartphones. These displays offer smoother motion and reduced motion blur, resulting in a better gaming and viewing experience.

Major Drivers

• Growing Demand for Smartphones and Tablets: The proliferation of smartphones, tablets, and other portable electronic devices is a key driver for the display market. With the increasing adoption of these devices globally, there's a corresponding rise in demand for high-quality displays with features like higher resolution, better colour accuracy, and enhanced brightness. As a result, display manufacturers are under pressure to innovate and produce displays that meet the stringent requirements of these devices.
• Increasing Adoption of Display Technologies in Automotive Sector: The automotive industry is increasingly incorporating advanced display technologies such as digital instrument clusters, heads-up displays (HUDs), and infotainment systems to enhance the driving experience and improve safety. Displays in vehicles are evolving from traditional analog gauges to digital displays with features like touchscreens, gesture control, and augmented reality overlays. This trend is driven by consumer demand for connectivity, convenience, and enhanced in-car entertainment.

Major Challenges

• Intense Competition: the display market is highly competitive, with numerous players vying for market share. This intense competition puts pressure on manufacturers to continuously innovate while also keeping costs under control. Additionally, the presence of established players alongside emerging ones intensifies competition, making it challenging for new entrants to gain a foothold in the market.
• Supply Chain Disruptions: the global display market is susceptible to supply chain disruptions, which can arise from various factors such as natural disasters, geopolitical tensions, and unexpected shifts in demand. These disruptions can lead to delays in production, shortages of critical components, and increased costs, thereby impacting the overall market dynamics.
• Environmental Concerns: Environmental sustainability is becoming a significant challenge for the display industry. The manufacturing processes of displays, particularly those involving LCD panels, can be resource-intensive and generate hazardous waste. Additionally, the disposal of end-of-life displays poses environmental risks due to the presence of toxic materials such as mercury and lead. Display manufacturers are facing increasing pressure to adopt sustainable practices, reduce energy consumption, and develop recyclable and eco-friendly display technologies.

Major Trends

• Rise of OLED Technology: OLED technology has gained significant traction in the display market due to its superior image quality, energy efficiency, and flexibility. As a result, there's a growing trend towards the adoption of OLED displays across various applications, including smartphones, televisions, and automotive displays. Manufacturers are investing heavily in OLED production capacity to meet the increasing demand for these displays.
• Transition to High-Resolution Displays: There's a noticeable trend towards high-resolution displays, driven by consumer demand for sharper images and enhanced viewing experiences. Display manufacturers are focusing on developing and commercializing displays with ultra-high resolutions such as 4K, 8K, and beyond, across different form factors including TVs, monitors, and smartphones. This trend is expected to continue as content creators produce more high-resolution content, further driving the demand for advanced displays.

Solution components are leading in the global display market industry due to their ability to provide integrated, customizable, and efficient solutions tailored to specific needs.

Solution components have emerged as the frontrunners in the global display market industry owing to their unparalleled capacity to deliver integrated, customizable, and efficient solutions that cater to the diverse needs of consumers across various sectors. Unlike standalone display products, solution components offer a comprehensive approach by combining hardware, software, and services to create a seamless and tailored experience. This integration not only enhances functionality but also provides added value to consumers by addressing specific requirements and challenges they may encounter. One of the primary reasons for the dominance of solution components is their adaptability to a wide range of applications.

Whether it's in retail, healthcare, automotive, or entertainment, solution components can be customized to meet the unique demands of each industry. For instance, in the retail sector, interactive displays integrated with analytics software can offer personalized shopping experiences and gather valuable consumer data for targeted marketing strategies. Similarly, in healthcare, display solutions equipped with telemedicine capabilities facilitate remote consultations and patient monitoring, improving access to healthcare services.

Solution components offer greater flexibility and scalability compared to traditional display products. With modular designs and interoperable components, businesses can easily upgrade or expand their display systems to accommodate changing requirements or technological advancements. By incorporating advanced features such as touchscreens, gesture recognition, and augmented reality, these solutions provide intuitive interfaces that streamline workflows and empower users to interact more effectively with digital content.

Flat panel displays are leading in the global display market industry due to their superior image quality, energy efficiency, and versatility, offering a sleek and modern solution for various applications across consumer electronics, signage, and professional displays.

Flat panel displays have emerged as the frontrunners in the global display market industry owing to a combination of factors that collectively contribute to their widespread adoption and dominance. Chief among these is their superior image quality, which is made possible by advancements in display technology such as high-resolution screens, vibrant colours, and high contrast ratios. Compared to traditional cathode ray tube (CRT) displays, flat panel displays offer sharper images with better clarity and detail, making them ideal for a wide range of applications including televisions, monitors, smartphones, and tablets.

Flat panel displays are renowned for their energy efficiency, which is increasingly becoming a critical consideration for consumers and businesses alike. With the growing emphasis on sustainability and energy conservation, flat panel displays have become the preferred choice due to their lower power consumption compared to older display technologies. This not only helps reduce electricity bills but also contributes to environmental preservation by minimizing carbon emissions and reducing the overall ecological footprint of display devices. The versatility of flat panel displays plays a significant role in their dominance in the global display market industry. Unlike bulky CRT displays or projection systems, flat panel displays offer a sleek and modern design that complements various environments, whether it's a living room, boardroom, retail store, or outdoor signage.

LCDs dominates the global display market due to their versatility, cost-effectiveness, and mature technology.

Liquid Crystal Displays (LCDs) have emerged as the frontrunner in the global display market owing to their versatility, cost-effectiveness, and mature technology. The dominance of LCDs can be attributed to their ability to cater to a wide range of applications across various industries, including consumer electronics, automotive, healthcare, and more. One of the key factors driving the widespread adoption of LCDs is their versatility. Unlike other display technologies that may be limited in terms of size, shape, or functionality, LCDs can be manufactured in various sizes and configurations to meet the diverse needs of consumers and businesses alike.

Whether it's a small smartphone screen, a large television panel, or a specialized display for industrial use, LCD technology can be adapted to suit virtually any requirement. Moreover, LCDs offer a compelling combination of performance and cost-effectiveness. The manufacturing process for LCD panels has been refined over several decades, resulting in highly efficient production methods and economies of scale. As a result, the cost of producing LCD displays has decreased significantly, making them accessible to a broad spectrum of consumers across different income levels. The mature technology behind LCDs has contributed to their dominance in the global display market. Unlike emerging display technologies that may still be in the early stages of development or facing technological hurdles, LCDs benefit from decades of research, development, and refinement.

Smartphones and tablets are leading in the global display market industry due to their portability, versatility, and increasing demand for mobile computing and entertainment solutions.

Smartphones and tablets have emerged as the frontrunners in the global display market industry, propelled by their unmatched combination of portability, versatility, and functionality that cater to the evolving needs and preferences of consumers worldwide. The primary reason for their dominance is their portability, offering users the freedom to access information, communicate, and entertain themselves on-the-go. Unlike traditional desktop computers or even laptops, smartphones and tablets are lightweight, compact, and easily fit into pockets or bags, enabling users to stay connected and productive wherever they go. The versatility of smartphones and tablets plays a significant role in their leadership in the global display market industry.

These devices serve as multifunctional tools that go beyond mere communication to encompass a wide range of activities such as web browsing, social media interaction, gaming, multimedia consumption, and productivity tasks. With the proliferation of mobile apps tailored to various needs and interests, smartphones and tablets have become indispensable companions that cater to diverse lifestyles and preferences, from business professionals to students, from gamers to content creators.

Furthermore, the growing ecosystem of accessories and peripherals for smartphones and tablets has contributed to their dominance in the global display market industry. From wireless keyboards and styluses to docking stations and external monitors, these accessories enhance the functionality and versatility of smartphones and tablets, transforming them into powerful productivity tools and entertainment hubs. This ecosystem fosters innovation and collaboration among manufacturers, developers, and consumers, driving further advancements and expansion in the display market.

The consumer industry leads the global display market due to the growing demand for displays in smartphones, TVs, laptops, and other consumer electronics devices.

One of the primary drivers behind the consumer industry's dominance in the display market is the ubiquity of smartphones. With billions of smartphones in use globally, these devices represent a significant portion of the demand for displays. Consumers expect smartphones to feature cutting-edge displays that enhance the user experience, whether it's watching videos, browsing the web, or interacting with apps. As a result, smartphone manufacturers continuously push the boundaries of display technology, driving innovation and competition in the market.

The consumer industry has emerged as the leader in the global display market primarily due to the surging demand for displays in smartphones, televisions, laptops, and a plethora of other consumer electronics devices. As technology continues to advance, consumers around the world are increasingly reliant on electronic devices for communication, entertainment, productivity, and more. Moreover, the growing popularity of laptops, tablets, gaming consoles, and other personal computing devices has further bolstered the consumer industry's position in the display market.

As remote work, online education, and entertainment become increasingly prevalent, consumers seek devices with high-performance displays that offer exceptional clarity, responsiveness, and colour accuracy. Whether it's for work, gaming, or multimedia consumption, consumers prioritize devices with displays that deliver an immersive and visually engaging experience. The consumer industry's leadership in the display market is sustained by continuous advancements in display technologies and manufacturing processes. From the widespread adoption of OLED displays to the emergence of foldable and rollable screens, manufacturers are constantly innovating to meet the evolving demands of consumers.

APAC is leading in the global display market industry due to its robust manufacturing infrastructure, technological innovation, and growing consumer demand.

The Asia-Pacific (APAC) region's dominance in the global display market industry can be attributed to a confluence of factors that have propelled its growth and innovation. At the heart of APAC's leadership lies its formidable manufacturing infrastructure, which has been meticulously developed over decades to become the world's manufacturing powerhouse. Countries like China, South Korea, Japan, and Taiwan have established themselves as leaders in electronics manufacturing, boasting state-of-the-art facilities and a highly skilled workforce. One of the key drivers of APAC's success in the display market is its relentless pursuit of technological innovation.

Companies in the region are at the forefront of research and development, constantly pushing the boundaries of display technology to deliver cutting-edge products to consumers worldwide. South Korean giants like Samsung and LG have been instrumental in driving innovation in display technologies such as OLED and QLED, setting new standards for picture quality, energy efficiency, and form factor. The strategic partnerships and collaborations between industry players, research institutions, and government agencies have also contributed to the region's leadership in the global display market.

These partnerships have facilitated knowledge sharing, technology transfer, and joint R&D efforts, enabling companies in APAC to stay ahead of the curve and maintain their competitive edge in the rapidly evolving display industry. Additionally, favourable government policies and incentives have played a significant role in nurturing the display industry in APAC. Governments across the region have implemented policies aimed at fostering innovation, supporting research and development initiatives, and attracting foreign investment. These policies have created a conducive environment for businesses to thrive, facilitating the growth of the display market in APAC

Recent Developments

• In June 2023, BOE partnered with ThundeRobot, to develop gaming displays for competitive gamers. This collaboration may strengthen the integration of technologies and product designs in the e-sports display domain, aiming to create high-end display solutions. This collaboration enhances technological integration and product design, fostering the creation of advanced display solutions.
• In December 2022, Samsung Electronics Co., partnered with Google to take smart home interoperability to the next level. This integration fosters demand for displays in smart home devices, driving growth globally as consumers seek seamless connectivity and enhanced user experiences across their connected devices.
• In March 2022, Samsung Electronics launched the Smart Monitor series, the M8, featuring an upgraded, stylish design. The M8 delivers Samsung's iconic slim design in four new colors, warm white, sunset pink, daylight blue, and spring green. This move boosts market growth by catering to varied preferences and attracting a broader range of potential buyers.

Considered in this report

• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report

• Display market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Panel Size

• Micro displays
• Small & Medium-sized Panels
• Large Panels

By Display type

• Flat Panel Display
• flexible Panel Display
• Transparent Panel Display

By Display technology

• LCD
• OLED
• Micro-LED
• Direct-View LED
• Others

By Application

• Smartphone and Tablet
• Smart Wearable
• Television and Digital Signage
• PC and Laptop
• Vehicle Display
• Others

By Industrial Vertical

• Consumer Electronics
• Retail
• BFSI
• Health care
• Automotive
• Military and defence
• Others

The approach of the report:

This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. After this, the analyst started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once the analyst had primary data, they started verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Display industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.


This product will be delivered within 2 business days.