New York, USA, May 12, 2021 (GLOBE NEWSWIRE) -- A report was recently published by Research Dive titled, “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”.
The set to garner revenue of $1,19,339.1 million in 2027, rising from $52,151.8 million at a CAGR of 10.5%.
Increasing demand for display panels for various electronic devices is predicted to be the major driving factor for the display panel market in the forecast period. Display panels are mostly used in various devices such as television, smartphones, smart watches, infotainment systems in automobile and many more. The advancement in technology for flexible panels is predicted to be one of the major driving factors for the display panel market in the forecast period. Many manufacturers are focusing more on developing a variety of products to the consumers, which is predicted to create more investment opportunities in the market during the forecast period. For instance, Nubia’s launched a 4-inch flexible smartphone which can be adjusted on your wrist and can function as a phone as well as a watch at the same time.
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Production cost of display panels is very high which is predicted to be the biggest restraint for the display panel market in the forecast period. Due to the increase in the production cost the average selling price of devices increases, which affects the profitability of the manufacturer and predicted to hinder the market growth in the forecast period.
OLED sub-segment is predicted to grow by generating a revenue of $ 90,079.4 million by 2027 at a CAGR of 13.9% in the forecast period. Rise in the demand of OLED screens for the manufacturing of various electronic devices is predicted to drive the sub-segment market in the forecast period. Moreover, the advanced technology in OLED is predicted to create more investment opportunity in the forecast period.
Regional Analysis
The Asia-Pacific Market is predicted to witness significant growth with revenue of $19,306.6 million at a CAGR of 12.5% in the forecast period. The rising numbers of manufacture units and industries has helps in pushing the market further towards growth.
Key Market Segment
- By type, the OLED sub-segment is set to dominate the market with a revenue of $31,001.0 million at a CAGR if 13.9% in 2019. This is due to the rising demand from consumers to implement OLED screens in varied devices such as televisions, smartphones, and more.
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Market Dynamics
The use of OLED and LED screens in various electronic devices is due to the rising demand from consumers. The need to provide better quality images, leading to production of better quality equipment has helped the industry grow further.
With the panels of the screens getting thinner, it risks the chances of damaged without the appropriate professional help. The complicated process along with high cost of production can be a hindrance to the growth of the market.
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Key Players and Strategies
As per the report, some of the key players of the industry are -
- Chunghwa Picture Tubes, Ltd
- Panasonic Corporation
- Japan Display Inc
- AU Optronics Corp
- SAMSUNG
- Hannstar Display Corporation
- BOE Technology Group Co
- SHARP CORPORATION
- Innolux Corporation
- LG Electronics.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and recent strategic developments.
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
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