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Chicago, Oct. 31, 2022 (GLOBE NEWSWIRE) — The news “Display Market Market Share by Product (Smartphones, Wearables, TVs, Brands, Tablets), Order, Display Technology (LCD, OLED, View-View LED, Micro-LED), Panel Size, Vertical, and Geography (2021-2026 )”, the global display market size was valued at $148.4 billion in 2021 and is expected to reach $177.1 billion in 2026. It is expected to grow at a CAGR of 3.6% during the forecast period. The rapid adoption of OLED displays in various applications, the increasing use of LED displays for video wall, television, and digital signage applications, the increasing demand for interactive displays in various applications, and increasing demand for medical-display devices, including walkers and respirators, due to the COVID-19 pandemic are the main driving factors for the market display.
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The display market includes major players such as Samsung Electronics (South Korea), LG Display (South Korea), Sharp (Foxconn) (Japan), Japan Display (Japan), Innolux (Taiwan), NEC Corporation (Japan). , Panasonic Corporation ( Japan), Leyard Optoelectronic (Planar) (China), BOE Technology (China), AU Optronics (Taiwan), and Sony (Japan). These prominent players have a strong portfolio of display products and presence in both mature and emerging markets.
Samsung Electronics is a developer and manufacturer of electronic and computer hardware. The company operates four business segments, namely, Consumer Electronics (CE), Information Technology & Mobile Communications (IM), and Device Solutions (DS), which includes semiconductor, DP, and Harman. The consumer electronics (CE) sector includes cable television, monitors, printers, air conditioners, refrigerators, washing machines, and medical equipment, but also information and telecommunications technology. (IM) includes handheld products, information systems, computers, and digital cameras.
The hardware solutions business segment includes memory systems, high-performance integrated circuits, and light emitting diodes. Display Components designs and manufactures LED-LCD, QD-LCD, and OLED display panels. The Consumer Electronics (CE) and IT & Mobile Communications (IM) divisions fall under Samsung Research, which is the research and development (R&D) department of Samsung Electronics. The department leads the development of future technologies with more than 10,000 researchers and developers working in overseas R&D centers.
LG Display a leading player in the LCD display segment. It has expanded its manufacturing capabilities in recent years by installing new manufacturing plants for LCD and OLED panels. Recently, the company established a new development center in China. LG Display offers a wide range of displays for televisions, smartphones, tablets, desktop computers, cars, and smart wearables. It focuses on offering cost-competitive display products and maintaining stable and long-term relationships with its customers. The company focuses on the development of automotive OLED display panels for special cars.
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Market Trends:
Driver: Increasing the use of LED displays for video wall, television, and digital signage applications
LED displays are one of the most widely used display technologies for a variety of applications. The market size is larger compared to other technologies. In recent years, the LED display industry has matured, but not in terms of innovation. One of the advances in LED displays is the reduction of components required to make an LED screen. The miniaturization allowed LED screens to become very thin and grow to large sizes, allowing the screens to be placed on any screen, indoor or outdoor. There have been many applications of LEDs, largely due to technological advances, including improved resolution, increased brightness, increased productivity, and the development of hard surface lights and micro lights.
LED displays are also widely used digital signage applications, such as advertising, and digital billboards, that help brands stand out from the rest. For example, in August 2018, Peppermill Casino in Reno, Nevada, installed a Samsung-branded video wall. So, LED displays are used to improve the customer experience. Some of the leaders in this field are Samsung Electronics (South Korea) and Sony (Japan), followed by LG Corporation (South Korea) and NEC Corporation (Japan).
Restraint: Declining demand for displays from the retail sector due to the massive shift to online advertising and marketing.
It’s easier, more personalized, and more relevant now. Consumers spend more time online than ever before, and digital advertising offers a great way to reach multi-device, multi-channel consumers. Therefore, online advertising has become popular in recent years. In addition, the widespread use of the internet has fueled the growth of digital advertising. The increase in spending on online advertising by various major players, such as Facebook and Google, is also a major reason for the increased use of online advertising. Programmatic advertising is also gaining momentum. Programmatic advertising is about using automated systems and data to make media buying decisions without human intervention. Because of this, the need for displays, which were previously used for advertising products and brands in stores and shopping areas, has decreased significantly.
Opportunity: Growing adoption of folding and flexible displays
Wrap-around displays have become popular in tablets, smartphones, and notebooks in recent years. Flexible display boards are flexible because of the flexible materials used to make them. The soft tool can be plastic, metal or soft glass; Plastic and metal panels are light, thin, and durable, and break easily. Foldable phones are based on flexible display technology, built around OLED screens. Companies like Samsung and LG are mass-producing flexible OLED panels for smartphones, TVs, and smartwatches. However, these presentations are not very simple from the end users’ point of view; manufacturers bend or bend these display boards and use them in end products. Some of the major manufacturers of OLED packaging technology include Samsung and BOE Technology. In May 2018, BOE unveiled several new technologies, including a 6.2-inch 1440×3008 foldable (1R) OLED display with a touch layer and a 7.56″ 2048×1535 OLED.
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Challenge: Disruption of supply chain and manufacturing processes due to COVID-19
Many countries have decided or are in the process of implementing lockdowns to contain the spread of COVID-19. This has disrupted the supply chain of various markets, including the display market. Supply chain disruptions are creating challenges for display manufacturers to manufacture and ship their products. China is the worst-hit country for manufacturing exposures due to COVID-19. The generators were only allowed 70% to 75% of energy usage compared to the normal rate of 90% to 95%. For example, Omdia Display, a display manufacturer in China, expects a 40% to 50% drop in its display output due to a lack of workers, lack of logistical support, and quarantine measures.
Related reports:
Video Display Market – Forecast to 2022-2027
Head Display Market – Forecast to 2022-2027
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