Market Overview
The
Global Flat Panel Display Market is expected to reach a value of
USD 176.0 billion in 2023, and it is further anticipated to reach a market value of
USD 314.1 billion by 2032 at a
CAGR of 6.6%.
This market has seen significant growth over the past few years and is predicted to grow significantly during the forecasted period as well. The global flat panel display market deals with the production and distribution of thin display screens. Flat Display Screens are used in different industries like automotive,
medical, defense & consumer goods due to their wide area of application. The global flat panel market also deals with the consumer electronics market that consists of popular products that people use in their daily lives, like smartphones, laptops, tablets & gaming consoles. This market is segmented based on technology, application and end-use.
Market Dynamic
The market dynamics of the Global Flat Panel Display Market encompasses various factors that influence its growth, advancement and overall performance. The Flat panel display can be defined by its unique slim, lightweight, non-brittle and energy-efficient nature which has acquired substantial popularity among consumers fostering the growth of the Global Flat Panel Display Market further. The rapid growth of this market can be attributed to several reasons. Firstly, the use of flat panel display in a wide range of electronic product has expanded its market reach to consumer electronics which holds a significant part in the global market.
Secondly, the continuous growth in product quality by improving its picture quality to offer vibrant colours attracted a lot of users and lastly, the low manufacturing cost of flat panel displays has made consumer electronics more affordable & accessible to a broader consumer base which has positively affected the growth of this market. In short, the growth of the flat panel display market is driven by technical advancements, affordability and versatile use in different industries.
Research Scope and Analysis
By Technology
In technology segment, LCD panels hold the highest market share and are anticipated to show subsequent growth in the forthcoming years as well. LCD panels operate on the principle of controlling the passage of light through liquid crystal molecules, offering significant advantages that have set a standard in the global flat panel display market. The positive points of the LCD panels can be attributed to their slim and energy-efficient profile.
These display panels are used in a wide range of electronic products like TVs, computer monitors,
digital signage & smartphones as these display panels also offer a vibrant colour pallet with high resolution and accuracy. The major reason for its dominance in the market even after all these years is its cost-effectiveness, making it accessible to a broad consumer base.
By Application
The application segment of the Global Flat Panel Display Market is categorized into Television and Digital Signage, PCs & laptops, Smartphones & tablets and others. Currently, Television and Digital Signage are dominating the market and are anticipated to show the highest growth potential in the coming period. The flat panel display has revolutionized the television market as this industry offers slim, high-definition screens that have vibrant colour palettes and are energy efficient. Large screens and smart TVs have become an integral part of a modern household, offering diverse features like streaming services, internet connectivity & an immersive viewing experience is another factor behind the growth of this market.
Further, Digital signage employs flat panel display screens for advertising and as an information display at many public places, corporate offices, transportation channels and airports. flat panel displays that are used in advertising. The Billboards are upgraded into 3D(three-dimensional) & 4D (three-dimensional) display screens as they are gaining a foothold and are becoming extremely popular in the electronics and entertainment industry. The flexible and dynamic nature of digital signage makes it an effective tool for advertising and conveying messages. So together, television and digital signage represent a vital and evolving face of the Global Flat Panel Display Market.
By End User
Consumer electronics dominates the end user segment in terms of market share and is anticipated to witness continuous expansion in the years ahead. The reason behind the rapid growth of consumer electronics can be attributed to the diverse product catalogue that this segment presents which consists of smartphones, laptops, tablets & personal computers. Flat panel displays improve the qualities of these products by enhancing their colour pallet, thickness and picture resolution.
In recent times the major growth driver of this market is the rising demand for high-resolution, cost-efficient & energy-efficient consumer electronics. Furthermore, as these consumer devices have become an integral part of our personal and professional lives, so has the demand to improve their touch capabilities, responsiveness & seamless integration with other smart technologies. In short, this segment is the driving force behind the evolution of flat panel display technology.
The Flat Panel Display Market Report is segmented on the basis of the following:
By Technology
- LCD
- LED
- Plasma Display
- OLED
- Others
By Application
- Television & Digital Signage
- PC & Laptops
- Smartphones & Tablets
- Automotive Display
- Others
By End-User
- Consumer Electronic
- Automotive Application
- Military & Defense
- Others
Regional Analysis
North American region holds a significant
market share of 36.2% in the Global Flat Panel Display Market in 2023. This is due to the presence of tech companies and a larger consumer base. This region plays a major role in the consumer electronic market, as it faces a consistent demand for flat panel displays to cater the needs of consumer goods manufacturers like smartphone, tablet and laptop manufacturers, as the new trends evolve in the region, which pushes it to grow further. Nowadays the trend of large screens, high resolution, curved, cost-efficient & energy-efficient is pushing the regional tech giants to grow their product catalogues even further.
Moreover, the
healthcare industry has extensively progressed in medical imaging like MRI and endoscopy in the region. The advanced healthcare infrastructure solidifies its significance in the growth of this region, as many North American industries are embracing the idea of the integration of the flat panel display into automotive for navigation and other applications. The market landscape of this region is notably competitive and has many manufacturers that are playing their part in the growth of this region.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
The competitive landscape within the Global Flat Panel Display Market is attributed to intense cutting-edge competition and innovation. Rapid development in display technologies and increased demand for high resolution and cost-efficiency are major drivers behind the growth of this market. As people are becoming more aware of sustainable lifestyles companies are also focusing on sustainability by developing eco-friendly & energy-efficient products. this market is influenced by factors like larger and high-resolution screens and the adoption of OLED.
The competitive landscape of this market is dynamic as the major companies are continuously innovating to gain a competitive edge to meet the evolving needs of customers. The major key players in the Global Flat Panel Display Market are Samsung Electronics Ltd, Panasonic Corporation, Sony Corporation, LG Display Co. Ltd., AU Optronics Corporation, Universal Display Corporation, Quixant PLC, Emerging Display Technologies Corporation, NEC Corporation, Sharp Corporation and others.
Some of the prominent players in the Global Flat Panel Display Market are:
- Samsung Electronics Ltd
- Panasonic Corporation
- Sony Corporation
- LG Display Co. Ltd.
- AU Optronics Corporation
- Universal Display Corporation
- Quixant PLC
- Emerging Display Technologies Corporation
- NEC Corporation
- Sharp Corporation
- Other Key Players
COVID-19 Pandemic & Recession: Impact on the Flat Panel Display Market
The COVID-19 pandemic and the following economic recession significantly affected the Global Flat Panel Display Market. Disruptions in supply chains decreased annual income, and shifts in consumer demands and current trends affected this industry. As the culture of working from home was rapidly adopted this market showed increased demand for tablets, laptops & personal computers that increased the demand for flat panel displays.
On the other hand, the automotive and aviation industries experienced a reduction in demand for display due to travel restrictions as well worldwide lockdowns that interrupted the supply of raw materials which are essential for production. Overall, the impact of the pandemic and recession on the flat panel display market varied in different industries and product types as some industries saw rapid growth during the pandemic while some saw a decline.
Report Details
| Report Characteristics |
| Market Size (2023) |
USD 176.0 Bn |
| Forecast Value (2032) |
USD 314.1 Bn |
| CAGR (2023-2032) |
6.6% |
| Historical Data |
2017 - 2022 |
| Forecast Data |
2023 - 2032 |
| Base Year |
2022 |
| Estimate Year |
2023 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Technology (LCD, LED, Plasma Display, OLED and
Others), By Application (Television & Digital Signage,
PC & Laptops, Smartphones & Tablets, Automotive
Display and Others), By End-User (Consumer
Electronic, Automotive Application, Military &
Defense and Others) |
| Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
| Prominent Players |
Samsung Electronics Ltd, Panasonic Corporation,
Sony Corporation, LG Display Co. Ltd., AU Optronics
Corporation, Universal Display Corporation, Quixant
PLC, Emerging Display Technologies Corporation, NEC
Corporation, Sharp Corporation, and Other Key
Players |
| Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |
Frequently Asked Questions
The Global Flat Panel Display Market is expected to reach a value of USD 176.0 billion in 2023, and it is
further anticipated to reach a market value of USD 314.1 billion by 2032 at a CAGR of 6.6%.
The global flat panel display market deals with the manufacturing and distribution of thin display
screens. Flat Display Screens are used in different industries like automotive, medical, defense &
consumer goods due to their wide benefit.
North American Region dominates the Global Flat Panel Display Market by holding the highest market
share of 36.2%.
The major key players in the Global Flat Panel Display Market are Samsung Electronics Ltd, Panasonic
Corporation, Sony Corporation, LG Display Co. Ltd., AU Optronics Corporation, Universal Display
Corporation, Quixant PLC, Emerging Display Technologies Corporation, NEC Corporation, Sharp
Corporation and others.