Market Overview
The Global
Next-Generation Display Market was
valued at USD 254.2 billion in 2023, and it is further anticipated to reach a market
value of USD 650.4 billion by 2033 at a CAGR of 11.0%.
Next-gen displays provide a clear & sharp upgrade from LCD & plasma technologies, possessing lower power consumption. It elevates performance, enhances products such as mobile phones, and drives the evolution of devices like e-readers. High thermal resistance sets them apart as the preferred option for applications like computer monitors and TV screens, effectively growing and driving the future of the global market.
In US Next-Generation Display Market
The US Next-Generation market is expected to reach USD 67.0 billion by the end of 2024 while growing at a CAGR of 10.3% during the forecast period.
In the Next-Generation Display market for the US opportunities depend on expanding applications in the healthcare and automotive industries, alongside development in flexible and wearable displays creating new product categories. A key trend is the growth of MicroLED technology, known for its superior brightness and energy efficiency, and the increase in popularity of foldable and rollable displays, allowing innovative device form factors and better user experiences.
Further, the US market is driven by strong consumer demand for high-resolution and flexible displays in devices and higher R&D investments by tech giants. However, high production costs and technical challenges, like the limited lifespan and manufacturing complexities of advanced displays like OLED and MicroLED, constrain market expansion and affordability, impacting broad adoption.
Key Takeaways
- Market Growth: The Next-Generation Display Market size is expected to grow by 371.1 billion, at a CAGR of 11.0% during the forecasted period of 2025 to 2033.
- By Material: Substrate materials is expected to lead in 2024 with a major & is anticipated to dominate throughout the forecasted period.
- By Technology: The OLED (Organic Light-Emitting Diode) segment is expected to lead the Next-Generation Display market in 2024.
- By Application: Smartphones are expected to get the largest revenue share in 2024 in the Next-Generation Display market.
- Regional Insight: Asia Pacific is expected to hold a 35.3% share of revenue in the Global Next-Generation Display Market in 2024.
- Use Cases: Some of the use cases of Next-Generation Display include medical imaging, wearable technology, and more.
Use Cases
- Augmented Reality (AR) and Virtual Reality (VR): Next-generation displays with higher resolutions and quicker refresh rates improve immersive experiences, making AR and VR applications more realistic and responsive.
- Medical Imaging: Advanced displays provide clearer & more accurate visuals for medical imaging, enhancing diagnostics and helping in complex surgeries through enhanced visualization.
- Automotive Heads-Up Displays (HUDs): Enhanced display technology enables more detailed and brighter HUDs in vehicles, improving driver safety by providing critical information directly in their line of sight.
- Wearable Technology: Smartwatches & other wearable devices benefit from next-gen displays with better visibility in many lighting conditions, longer battery life, and more interactive interfaces.
Market Dynamic
Driving Factors
Consumer Demand for Enhanced Visual ExperiencesThe growing consumer desire for higher resolution, better color accuracy, and enhanced energy efficiency in devices like smartphones, TVs, and laptops is driving the demand for next-generation display technologies.
Technological Advancements and Innovation
Constant development in display technologies, like OLED, MicroLED, and flexible displays, are driving market growth by delivering superior performance, new form factors, and better durability in comparison to traditional displays.
Restraints
High Production Costs
The manufacturing of next-generation displays, like OLED and MicroLED, includes complex processes and expensive materials, creating higher production costs that can limit market penetration and affordability for consumers.
Technical Challenges
Issues like limited lifespan, burn-in effects in OLEDs, and difficulties in mass-producing high-quality, large-scale displays create major technical challenges, impacting broad adoption and slowing market growth.
Opportunities
Expansion into New Industries
Next-generation displays have the potential to expand beyond traditional consumer electronics into industries like healthcare, automotive, and education, creating new revenue streams and applications, like advanced medical imaging systems and smart vehicle displays.
Advancements in Flexible and Wearable Displays
Innovations in flexible and wearable display technology provide opportunities for creating new product categories, like foldable smartphones, rollable TVs, and advanced wearable devices, meeting consumer demand for more versatile and portable devices.
Trends
Rise of MicroLED Technology
MicroLED displays are gaining popularity due to their superior brightness, energy efficiency, and longer lifespan in comparison to traditional OLED displays. They are being highly adopted in high-end TVs, smartphones, and wearables.
Growth of Foldable and Rollable Displays
The market is experiencing growth in the development and adoption of foldable and rollable displays, allowing innovative device form factors like foldable smartphones, tablets, and extendable screens, which provide better portability and user experiences.
Research Scope and Analysis
By Technology
OLED (Organic Light-Emitting Diode) is expected to contribute significantly to the overall global revenue of the next-generation display market in 2024, as OLEDs include advanced technologies in the next-generation display market's advancement. Its self-emissive pixel technology meets unmatched vibrancy, contrast ratios, and energy efficiency, setting it apart from conventional LCD & plasma counterparts. Due to its slim & flexible form factors, OLED is reshaping different sectors, improving visual engagement across devices like smartphones and televisions. The smooth adaption of OLED indicates a future characterized by captivating and immersive display solutions, creating a new dimension of user experience and market opportunities.
By Material
Substrate materials are set to be the major driving factor for the global next-generation display market in 2024 and are also anticipated to grow and drive the market during the forecasted period, as they provide superior structural integrity and performance over traditional counterparts. Their durability, lightweight nature, and versatility drive innovation across industries, improving visual experiences in devices from smartphones to a broad range of displays. Seamlessly integrated, substrates lead to a future of powerful and immersive display solutions, providing new user dimensions and wide market potential in the coming years.
By Product
3D display products for the global next-generation display market are expected to drive market innovation, revolutionizing visual experiences. With their ability to develop depth and realism, these displays engage audiences across sectors like entertainment and healthcare, which enhances user interaction and engagement, reshaping markets in gaming, design, and
medical imaging. The smooth integration of 3D display products promises an immersive future, providing new user experiences and new market opportunities for the next-generation display market and thus further enabling the market to grow in the future.
By Application
Smartphones have been one of the major driving forces for the next-generation display market in 2024, as the next-generation smartphone displays are reshaping markets by revolutionizing user interactions. Simple integration of advanced features engages users across sectors, from communication to productivity, which gives a competitive edge, by enhancing engagement and effectiveness. As smartphones evolve, these innovations redefine industries like entertainment, business, and healthcare. Their simple integration heralds unmatched connectivity, introducing new user experiences and unlocking undiscovered market potential in the near future.
The Next-Generation Display Market Report is segmented on the basis of the following
By Technology
By Material
- Substrate
- Polarizer
- Liquid Crystal
- Color Filter
- Others
By Product
- Flexible Display
- 3D Display
- Transparent Display
- Double-sided Display
- Others
By Application
- Smartphones
- Televisions and Monitors
- Smartwatches
- Laptops and Tablets
- Others
Regional Analysis
The Asia-Pacific region is expected to have a considerable market share, accounting for
over 35.3% of global revenue for the next-generation display market in 2024. Over the upcoming period, the Asia Pacific region is anticipated to stay in the commanding position of the market during the forecasted period, mainly in manufacturing budget-friendly LED displays, which is driven by increased R&D efforts, major financial support from both public & private sources, and the growth of display material manufacturers & suppliers across the region. Further, the Asia-Pacific region holds significant promise for the holographic display market, benefiting from the integration of advanced nations within emerging economies, alongside strong consumer electronics sectors led by prominent players like China, Taiwan, and South Korea.
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
In the global next-generation display market, competition expands through innovation & collaboration. Industry leaders invest in advanced research, optimizing display performance & energy efficiency. Further, strategic partnerships between established players and startups expand the growth, while consumer electronics giants integrate next-gen displays, driving the overall market. Success depends on balancing technological prowess, market presence, and customer-centric solutions.
Some of the prominent players in the Global Next-Generation Display Market are
- Philips
- Sony
- LG
- Apple
- Universal Display Corporation
- Samsung Electronics
- Kyocera
- Nova
- Doosan Corporation
- Panasonic Corporation
- Other Key Players
Recent Developments
- In February 2024, Tower Semiconductor and Tianyi Micro announced a strategic partnership to design next-gen OLED micro-displays for AR/VR, using Tower's specialized process flows to meet growing market demand.
- In February 2024, LG along with Meta announced a partnership on extended reality (XR) devices, as Meta has VR & mixed reality headsets, while LG developed an XR unit to design and engineer mixed-reality devices.
- In January 2024, Kopin Corporation along with MICLEDI Microdisplays introduced a strategic partnership to develop and manufacture advanced microLED displays, focusing on enhancing immersive AR experiences in bright conditions.
- In January 2024, Samsung Electronics introduced its latest display lineups of QLED, MICRO LED, OLED, and Lifestyle display lineups ahead of CES 2024, developing a next-gen AI processor, enhancing picture and sound quality, and focusing on individual lifestyles with AI-powered features.
- In December 2023, LG Display announced its plans to highlight its latest automotive display solutions at CES 2024, focusing on mobility developments.
Report Details
| Report Characteristics |
| Market Size (2024) |
USD 254.2 Bn |
| Forecast Value (2033) |
USD 650.4 Bn |
| CAGR (2024-2033) |
11.0% |
| Historical Data |
2018 – 2023 |
| The US Market Size (2024) |
USD 67.0 Bn |
| Forecast Data |
2024 – 2033 |
| Base Year |
2023 |
| Estimate Year |
2024 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Technology (OLED, IPS, TFT-LCD and Others), By Material (Substrate, Polarizer, Liquid Crystal, Color Filter and Others), By Product (Flexible Display, 3D Display, transparent Display, Double-sided Display and Others), By Application (Smartphones, TVs and Monitors, Smart watches, laptops and Tablets 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 |
Philips, Sony, LG, Apple, Universal display Corporation, Samsung Electronics, Kyocera, Nova, Doosan Corporation, Panasonic Corporation, and Other Key Players |
| Purchase Options |
HVMN Inc., Thync Global Inc., Apple Inc., Fitbit Inc., TrackmyStack, OsteoStrong, The ODIN, Thriveport LLC, Muse, Moodmetric, and Other Key Players |
Frequently Asked Questions
The Global Next Generation Display Market size was valued at USD 228.3 billion in 2023 and is expected to reach USD 680.4 billion by the end of 2033.
Asia Pacific is expected to dominate the Global Next Generation Display Market with a share of 35.3% in 2024.
The Next Generation Display Market in the US is expected to reach USD 67.0 billion in 2024.
Some of the key players in the Global Next Generation Display Market are Sony, LG, Apple, and many others.
The market is growing at a CAGR of 11.0 percent over the forecasted period.