The Vietnam Display Market is projected to reach $8.67 Billion by 2027 growing at a CAGR of 7.3% between 2022-2027 driven by growing demand for touch displays. In the last several years, the market for touch screen displays has seen enormous technical improvements. From big, space-consuming devices to tiny, bezel-less gadgets, display technologies have evolved. They now have far higher resolutions, greater contrast ratios, and require significantly less power than traditional display devices. Manufacturers have launched goods with appealing appearances and high-end specs in order to compete in this competitive market. Furthermore, because of the increased demand for touchscreen display devices, the final price of various displays and technologies has dropped dramatically. Because of the falling prices of displays and touchscreen panels, touchscreen display items such as kiosks, monitors, and signage solutions are in high demand. Increased panel size and resolution have improved these displays' overall performance and provided a better view. The demand for touch screen displays is anticipated to rise as a result of these developments.
Firms have started concentrating more on delivering a variety of extra functions in touchscreen devices as a result of rapid technical improvements. To make traditional touchscreen display devices, such as kiosks, signs displays, medical devices, and outdoor touchscreens, more user-friendly and interactive, researchers affiliated with various firms work on incorporating new technologies. Artificial intelligence (AI) is one such technology that gives the touchscreen display industry a lot of room to develop. AI-powered touch screens can easily convert data from one language to another and can also get user-specific information. As a result, several organisations are focusing on incorporating AI into touchscreen display devices in order to see an increase in touch display device demand. In November 2020, Panasonic Corporation announced the commercialization of a 55-inch transparent OLED display module that boasts high image visibility, with plans to release it globally, starting from the Japanese and Asia-Oceania markets. In November 2020, Sharp Imaging and Information Company of America (SIICA), a division of Sharp Electronics Corporation (SEC), introduced the new 120" class (diagonal) 8M-B120C 8K Ultra-HD Professional LCD display, designed to convey unparalleled lifelike image detail and quality, for brighter, livelier big-screen images. Such developments further is anticipated to boost the market growth during the forecast period 2022-2027..
The fast expansion of the display business has been hastened by the introduction of new display technologies such as OLED displays, microLED displays, and electronic paper displays (EPDs). A few organizations that create and produce sophisticated display technologies, such as microLED and OLED displays, including Samsung Electronics (South Korea), LG Electronics (South Korea), and Sharp (Japan). The demand for standalone displays has been driven by the development of a direct-view fine-pixel pitch large format LED display that delivers bright images with ultra-high-definition (UHD) resolution, as well as other benefits such as improved stability, higher flexibility, greater energy efficiency, and enhanced durability. With the rising complexity of online advertising, as well as the high cost of ad blockers, marketing and advertising firms are seeking for alternate solutions that would allow them to display their ads or messages. This creates a profitable potential for the standalone format display market, which can enhance adoption throughout the projected period.
With booming growth of consumer electronics industry as well as rise in production base shifting out of China, Southeast Asian countries like Vietnam have faced a major benefit overtime. Owing to this, various leading global consumer electronics manufacturers have already started either expanding their production facilities or investing into establishment of new ones, as a part of meeting growing demands in the Vietnamese markets. According to the 2020 report from Taiwan based thinktank, South East Asia region is predicted to capture about half of the global notebook personal computers production in 2030, with Vietnam and Thailand emerging as the main manufacturing hubs. This indicates the need to expand manufacturing facilities or increase the annual production capacity of the existing ones within Vietnam, thereby impacting the market growth of display solutions.
In January 2021, the Vietnamese Government had awarded a license to one of the leading electronics manufacturer, named Foxconn Technology, in order to build a US$270 million plant within northern province of Bac Ninh, Vietnam. Establishment of this facility was meant to support the production of consumer products like laptops as well as tablets, with an aim of meeting annual output of eight million units. In September 2021, Samsung Electronics had revealed about the expansion of production capacity of foldable devices within its Vietnam plant, with the project targeted to be in full operation by end of 2021 or early next year. Through this, Samsung’s display unit will be increasing its annual production capacity of foldables by 47 percent from 17 million to 25 million, as a part of its aim to annually produce about 10 million units of Z Fold models as well as 15 million units of Z Flip models.
The Major Players in this Market Include
Major players in Heating Equipment Market include Samsung, LG, Sony, Panasonic, Sharp, Toshiba and Innolux among others. In July 2021, one of the largest electricity companies operating in Vietnam, Ho Chi Minh Electricity Corporation (EVN HCM) had revealed about upgradation of its LCD video wall through replacing it with a high-quality screen dnp Supernova Infinity. This move was a part of adding better visualization to the daily video conference meetings, while making it a cost-effective alternative to large LED screen projection displays.