The Display Market size is estimated to reach US$178.9 billion by 2028, growing at a CAGR of 4.2% from 2023 to 2028. Increased demand for smartphones, smart wearables, laptops, PCs and televisions, technological advancements in displays and widespread applications of displays in the industrial, medical and automotive sectors are driving the Displays industry. In May 2022, Panasonic Automotive Systems announced that its 11.5-inch windshield head-up display (WS HUD) has been adopted for Nissan’s new Ariya crossover electric vehicle (EV). However, a decline in demand for displays from the retail sector due to the shift towards online advertisements hampers the market growth.

Moreover, technological advancements in display technologies and the growing trend towards miniaturization of electronic devices are creating ample opportunities for the Displays Market to grow. In September 2022, Apple launched their new Apple Watch Series 8. This smartwatch comes with 1.9 inches retina LTPO OLED display, offering up to 100 knits brightness. Such developments toward the miniaturization of displays would drive the growth of the Display Market.

North America generated approximately 28% of the global revenues in the Display industry in 2022. High disposable income of the consumers, growing demand for smart electronic devices and rising outdoor advertising applications are driving the Displays Market in this region. In May 2020, Prysm Inc. unveiled its largest seamless interactive display, the Prysm Laser Phosphor Display (LPD) 6K Series, which is 20ft wide and 5ft high. The newly developed LPD is an extremely energy-efficient interactive touch display that is shatter-resistant, flexible and offers rollability for transport.

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Display Market Growth Drivers:

Rising demand for displays from the industrial sector:

The rising penetration of multi-featured Human-machine Interface (HMI) devices, the rapid growth of LED-backlit technology and increasing demand for LCD-based display solutions and the increasing adoption of the Industrial Internet of Things (IIoT) are some of the factors contributing to the growing demand for displays in the industrial sector. The industry is gaining prominence on account of innovative features offered by the displays, which include touch screen panels and automatic touch detectors, RFIDs, Ethernet connectivity and resistance to high temperatures, shock, vibration, dust, scratch and chemicals. In May 2021, Emerson introduced the RXi industrial display and panel PC portfolio, which are meant to monitor, visualize and improve everyday manufacturing operations. Emerson’s Programmable Automation Control (PAC), Programmable Logic Control (PLC) and third-party control systems are all compatible with RXi industrial displays. These factors and developments would positively influence the Display industry outlook during the forecast period.

Major Players in this Market

The Major players in the Display Market include Samsung Electronics, LG Display, Sharp, Panasonic, NEC Corporation and BOE Technology among others. In February 2022, Vivo launched its flagship smartphone models IQOO 9 Pro and IQOO 9 Sports. The iQOO 9 Pro has a large 6.78-inch curved AMOLED display with a QHD+ resolution of 3200 x 1440 pixels and LTPO 2.0 technology.

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