LCD Technology to Dominate the Flat Panel Display Market Throughout 2020

(Newswire.net — June 28, 2017) New York City, New York — Increasing preference of customers for lightweight display has fuelled adoption of flat panel display globally. In addition, these displays witness more demand as compared to the conventional CRTs due to enhanced contrast settings, low power consumption, enhanced brightness, and relatively high pixel resolution support. Persistence Market Research has recently compiled a report, which reveals that the global market for flat panel display will witness a growth of 5.8% CAGR over the forecast period, 2015-2020.

Factors Fuelling Growth of the Global Market

Growing demand for high quality television sets, laptops and smartphones along with flat screen monitors in the automotive sector will significantly contribute towards growth of the flat panel display market in the upcoming years. Moreover, booming electronics sector will fuel adoption of HMI technology. Adoption of HMI technology will further contribute towards growth of the global market for flat panel display by the end of 2024.

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Further, product launches include two new industrial flat panel monitors launched by Siemens AG with capacitive multi-touch glass fronts, IP65⁰ protection, and widescreen. Availability of innovative FPD model will further boost growth of the global flat panel displays market by 2024-end. Growing preference for superior technologies such as LCD and OLED will contribute towards growth of the global market for flat panel display during the predictive years. While 2K resolution and 4K resolutions are available in the market, 8K UHD will soon be launched, and will impact growth of the global market for flat panel display positively. Apart from automobiles and electronics, research is being conducted to explore the adoption of flat panel displays in the education and advertising industry. Due to such factors, the flat panel display market will underscore new growth opportunities and support by the end of 2024.

Additionally, enhanced manufacturing technology in semiconductors, and innovative production of mobile computing devices will fuel growth of the global market for flat panel display. Due to a growing need for high resolution imaging requirement, medical sector will witness an upsurge in flat panel displays in the upcoming years.

LCD to Represent Leading Technology

LCD among other technologies will remain dominant in the global flat display market, and will account for over US$ 116 million in 2020. This segment will account for more than three-fourth of the market share in the global market for flat panel display in 2020. Moreover, the OLED segment will register a robust CAGR during the predicted period. Automotive and electronic application among others will reflect a growth of relatively high CAGR growth by the end of 2020.

APEJ to Remain Dominant Market

APEJ among other regions will remain a dominant market among others, and will account for over 85% share in the global market for flat panel display by the end of 2020. China will represent the leading manufacturer of electronics among other countries in APAC. APEJ will witness a 6% CAGR growth. Japan will represent the second leading market for flat panel displays, and will register a slow market of 1.2% CAGR during the predicted years. Europe and Americas are likely to witness significant market growth by the end of 2020.

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Market Players

Leading market players operating in the global market for flat panel display include LG Display Co. Ltd., Japan Display Inc., Sony Corporation, Sharp Corporation, Innolux Corp., Panasonic Corporation, Samsung Electronics Co. Ltd., Emerging Display Technologies Corp., AU Optronics Corporation, and Universal Display Corporation.