Vietnam Display Market - Forecast(2024 - 2030)

Report Code: ESR 0754 Report Format: PDF + Excel

Vietnam Display Market Overview

Vietnam Displays Market is growing at a CAGR of 7.29% during the forecast period 2022-2027. Increasing adoption of interactive displays across enterprise and education sector due to digital transformation shift is analysed to be a major driving factor for the growth of Vietnam Displays Market. With the constant need to improve teaching or training experiences along with shift towards online learning gradually within educational institutes, including schools, colleges or universities, there is significant adoption of interactive display boards to make learning experiences more interactive and beneficial. Additionally, utilization of interactive display screens within educational premises or corporate businesses have been gaining wide popularity in the Vietnamese markets overtime as a part of enhancing application areas including video conferencing, presentations, interactive picture-based learning and many more. Furthermore, rising demand towards varied medical diagnostic equipment including patient monitors, ventilators and others across hospitals or healthcare centers for COVID-19 treatment is driving the Vietnam Displays market growth.

Vietnam Display Market Report Coverage

The report: “Vietnam Display Market – Forecast (2022-2027)”, by IndustryARC covers an in-depth analysis of the following segments of the Vietnam Display industry.
By Type: Touch Displays, Non-Touch Displays
By Industry: Consumer Electronics, Automotive, Aerospace and Defense, Education, Healthcare, Retail and Hospitality, Media and Entertainment, Industrial, Enterprise and Others
By Product Type: Smartphones, TV Sets, Laptops, Tablets and Monitors, Digital Signage, Automotive Displays, Aerospace Displays, Wearables, Video Walls, Medical Monitors, HMDs, HUDs and VR/AR Displays, Industrial Automation and Control Systems, Broadcast Reference Monitors and Others
By Device Deployment: Standalone, Embedded
By Display Function: 2D, 3D
By Device Type: Fixed, Portable
By Technology: LED, OLED, LCD, QLED< E-Ink, Others
By Panel Size: Micro Display, Small Display, Medium Display, Large Display
By Geography: North Vietnam, South Vietnam, Central Vietnam

Key Takeaways

  • Display solutions are now being considered a major part for wide range of industries. With rising technological advancement from 2D to 3D displays and offering interactive touch displays over conventional non-touch displays, the growth of display market has witnessed a technological shift in last few years.
  • The Government’s Vision 2020 which aimed for the up gradation of Electronics industry brought a significant growth in the easy access of foreign manufacturers in Vietnam, thus promoting the Vietnam Displays Market.
  • In June 2020, Samsung Electronics had revealed about its plans on shifting much of its display production to its Southern Vietnam plant from China. This move by the company was meant to help the country emerge as the leading supplier of Samsung screens worldwide.
  • In August 2021, LG Display Co. Ltd. announced about its license approval from the Vietnam government with an investment of $1.4 billion, to increase its production of displays within its Haiphong factory. This initiative aimed at driving the OLED display production capacity by ramping up to 13-14 million units monthly, compared to 9.6 million - 10.1 million units.
Vietnam Display Market, By Region, 2021

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Vietnam Display Market Segment Analysis – By Industry

Consumer Electronics has dominated the market share in the Industry segment with 76% in 2021, owing to the friendly government policies which aimed to strengthen the consumer electronics sector in offering various display solution in television sets, laptops, smartphones and many others electronic devices. Vietnam has showed a huge potential for consumer electronic market growth in last few years and is analysed to be a manufacturing hub for various consumer electronics solutions during the forecast period owing to increasing investments in this sector. Consumer Electronics is analyzed to grow at a highest CAGR of 8.03% in the forecast period 2022-2027 owing to the friendly government policies which tend to provide significant growth in the Vietnamese consumer electronics market and helping country’s healthy economic growth.

Vietnam Display Market Segment Analysis – By Technology

OLED is the leading market in terms of technology with a share of 32.6% in 2021. According to Vietnam Automotive Manufacturers Association (VAMA), the new vehicle market surged by almost 59% to 29,036 units in March 2021 from 18,270 units in March 2020. This increasing production of automobiles is anticipated to drive the demand of various automotive displays solutions, further driving its market growth. In September 2021, LG Display chose Vietnam for their huge investment of 2021 of worth $1.4 billions to enhance the OLED module lines to elevated their production by 40%. The investment is expected to bump up OLED panel output at LG Display’s Vietnam factory in the northern port city of Haiphong to 13 million to 14 million units per month from current 9 million to 10 million units. Intel Corporation and Vietnam's Ministry of Education and Training joined forces to accelerate digital transformation in education in Vietnam. Under the terms of the agreement, Intel and local technology companies will make available 1 million affordable PCs to enhance the education sector. In July 2021, Samsung partnered with the International Agency for the Prevention of Blindness (IAPB) to create medical devices that screen for eye disease by upcycling Galaxy smartphones that are no longer of use. These developments is analysed to bring significant growth in the demand of smartphone displays for healthcare sector.

Vietnam Display Market Segment Analysis – By Geography 

Central Vietnam is analyzed to grow at a highest CAGR of 8.32% during the forecast period 2021-2026 owing to the increase in the expansion of the electronics industry in this region. North Vietnam has dominated the market share with 43% in 2020, owing to the widespread use of signs and interactive displays for branding, marketing, and broadcasting by many sector verticals such as healthcare, education, sports, and entertainment. In February 2021, LG Display plans to expand manufacturing facilities of organic light-emitting diode displays (OLED) in Vietnam. It invest $750 million for its operations in the port city of Hai Phong in northern Vietnam near China. This will drive the market growth of Vietnam displays market in North Vietnam region. In August 2021, Vietnam has awarded a licence to South Korea's LG Display (034220.KS) that will see it raise its investment in the northern port city of Haiphong by $1.4 billion. In October 2019, The Golden State Warriors and Samsung have teamed together to install the NBA's largest centerhung LED scoreboard at Chase Center. With over 64 LED video screens, including the biggest center-hung video display, Chase Center, a sports and entertainment facility, delivered an outstanding fan experience.

Vietnam Display Market Drivers 

Rising demand towards varied medical diagnostic equipment including patient monitors, ventilators and others across hospitals or healthcare centers for COVID-19 treatment 

With the outbreak of COVID-19 pandemic and its surge overtime, demand towards display based medical diagnosis equipment including patient monitors, surgical monitors, ventilators and many others have been eventually growing within the country. Various healthcare units or hospitals have been constantly showcasing increasing demand for COVID-19 treatment medical devices or equipment, thereby getting support from medical device manufacturers or industrial firms with no cost supplies. In March 2020, , idsMED Vietnam actively cooperated with Fujifilm, in order to sponsor a medical diagnostic equipment, named mobile FDR Nano X-ray machine for supporting Son Tay field hospital. Through this, an effective aid was to be provided during the diagnosis as well as treatment of diseases related to COVID-19, with enhanced image quality, increased efficiency, and others, alongside improving healthcare services within the hospital. In April 2020, a Vietnamese firm, Vingroup had revealed about its completion of manufacturing two invasive ventilators, namely VSmart VFS-410 and VFS-510, in response to COVID-19 pandemic, to be made available from May 15. These "made in Vietnam“ ventilators were developed with the strong support of ministries, agencies, health experts as well as the US-based Medtronic, while ensuring international quality standards alongside long-term value for use even after Covid-19 treatment period. In August 2021, HEINEKEN Vietnam had revealed about donating medical equipment, including 10 Trilogy EV300 ventilators and 24 Efficia CM120 patient monitors from Philips, as a part of its effort to help the medical facility specialized in treating severe COVID-19 patients, Ho Chi Minh City Hospital for Tropical Diseases. This move was meant to support Vietnam’s monumental efforts for reducing as well as managing severe health impacts during the most complicated COVID-19 outbreak within the country. Such factors have eventually helped in driving the market growth of displays within Vietnam healthcare industry and is also set to fuel the market growth forward.

Growing adoption of interactive displays across corporate and education sector due to digital transformation shift 

With the constant need to improve teaching or training experiences along with shift towards online learning gradually within educational institutes, including schools, colleges or universities, there is significant adoption of interactive display boards to make learning experiences more interactive and beneficial. Additionally, utilization of interactive display screens within educational premises or corporate businesses have been gaining wide popularity in the Vietnamese markets overtime as a part of enhancing application areas including video conferencing, presentations, interactive picture based learning and many more. In November 2019, BNI Vietnam had revealed about the installation of Newline’s VN Series interactive displays (65” and 75”) within its ballroom, in order to overcome challenge of maintaining costly setups, low brightness as well as constant management of its outdated projector and interactive whiteboard. Through this deployment, presentations during meeting, training courses, along with all other company events became more engaging and interactive, thus facilitating intuitive annotation, while enabling smooth video conferences. As per the UNICEF Education COVID-19 case study, in October 2020, the Ministry of Education and Training, Vietnam together with UNICEF, had revealed its plans on accelerating the pre-pandemic efforts on digital transformation of education system, owing to shift towards online teacher training as well as learning platforms. With this move towards modernizing educational environment with digital learning advancements, the need for interactive displays or learning display screens can face a significant market growth within the country.

Vietnam Display Market Challenges

Rise in shutdown of production operations across end use industries like electronics manufacturing, automotive and so on owing to government restrictions 

Due to outbreak of COVID-19 pandemic, country government have imposed stringent regulations like lockdowns leading to shutdown of production facilities of varied industry verticals including electronics, automotive and many others. This had led to substantial decline in manufacturing end use products, owing to supply chain disruptions, which requires display solutions be it modules, panels, materials and others, thus creating an adverse impact on its market growth. In March 2020, Samsung Display had revealed its plans on upgrading the Vietnamese production lines involved in flexible OLED display panels and modules used for smartphones. However, there were concerns regarding work disruptions due to entry of all foreign nationals being prohibited from the Vietnamese government from March 22 amidst the pandemic. In April 2020, one of the leading automakers, Nissan announced about shutting down operations at its Vietnam plant, owing to concerns regarding the coronavirus pandemic. This temporary suspension of production lines as a part of adhering to country's government as well as its directive of a shutdown, eventually halted the need for automotive components including display solutions. In May 2021, the Vietnamese Government had instructed Foxconn Technology Group and Luxshare Precision Industry Co. for temporary shutdown of the factories amidst the surge of coronavirus in the northern region. This move towards shutdown of factories have eventually created disruptions to the global supply chain, hampering the market growth for varied display screen modules or panels.

Vietnam Display Market Landscape

The Vietnam Display market is moderately consolidated with key players are adopting strategies such as acquisition, product launches and others with the players and companies prevalent in the market. The top companies present in the market include the below.
  1. Samsung Electronics
  2. LG Display
  3. NEC Corporation
  4. TCL Electronics
  5. Panasonic Corporation
  6. Hangzhou Hikvision Digital Technology Co. Ltd.
  7. Innolux Optoelectronics
  8. Sony
  9. Sharp Corp.
  10. Kyocera
  11. Toshiba

Recent Developments

  • In November 2021, Sharp announced the association with Microsoft for the development of World’s First 4K Ultra HD ‘Windows Collaboration Display’. The Windows Collaboration Display - PN-CD701 is the next-generation interactive display that is designed specifically for the office and remote working environment.
  • In September 2021, LG Display announced to invest $1.4 billion in order to expand the capacity of its OLED assembly plant in Vietnam to increase production of mobile devices, TVs and automotive displays.

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1. Vietnam Displays Market Overview
    1.1 Definitions and Scope
2. Vietnam Displays Market - Executive Summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key trends By Panel Size
    2.3 Key trends By End Use Industry
    2.4 Key trends segmented by Geography
3. Vietnam Displays Market – Market Landscape 
    3.1 Comparative Analysis
        3.1.1 Product/Company Benchmarking-Top 5 Companies
        3.1.2 Top 5 Financial Analysis
        3.1.3 Market Value Split by Top 5 Companies
        3.1.4 Patent Analysis
        3.1.5 Pricing Analysis (Comparison of General Price of Industry Types)
4. Vietnam Displays Market – Industry Market Entry Scenario Premium (Premium)
    4.1 Regulatory Scenario
    4.2 Ease of Doing Business Index
    4.3 Case Studies
    4.4 Customer Analysis
5. Vietnam Displays Market – Startup Company Scenario (Premium)
    5.1 Venture Capital and Funding Scenario
    5.2 Startup Company Analysis
6. Vietnam Displays Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes 
7. Vietnam Displays Market – By Strategic Analysis (Market Size -$Million/Billion)
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Product Life Cycle/Market Life Cycle Analysis
    7.4 Suppliers and Distributors
8. Vietnam Displays Market – By Type (Market Size -$Million/Billion)
    8.1 Touch Display
    8.2 Non-Touch Display
9. Vietnam Displays Market – By Industry (Market Size -$Million/Billion)
    9.1 Consumer Electronics
    9.2 Automotive
    9.3 Aerospace and Defense
    9.4 Education
    9.5 Healthcare
    9.6 Retail and Hospitality
    9.7 Media and Entertainment
    9.8 Industrial
    9.9 Enterprise
    9.10 Others
10. Vietnam Displays Market – By Product Type (Market Size -$Million/Billion)
    10.1 Smartphones
    10.2 Television Sets
    10.3 Laptops, Tablets and Monitors
    10.4 Digital Signage/Large Format Displays
    10.5 Automotive Displays
    10.6 Aerospace Displays
    10.7 Wearables
    10.8 Videowalls
    10.9 Medical Monitors
    10.10 HMDs, HUDs and VR?AR Displays
    10.11 Industrial Automation and Control Systems
    10.12 Home Automation and HVAC Systems
    10.13 Broadcast reference monitor
    10.14 Others
11. Vietnam Displays Market – By Device Deployment (Market Size -$Million/Billion)
    11.1 Standalone
    11.2 Embedded
12. Vietnam Displays Market – By Display Function (Market Size -$Million/Billion)
    12.1 2D
    12.2 3D
13. Vietnam Displays Market – By Device Type (Market Size -$Million/Billion)
    13.1 Fixed
    13.2 Portable
14. Vietnam Displays Market – By Technology (Market Size -$Million/Billion)
    14.1 LED
    14.2 OLED
    14.3 LCD
    14.4 QLED
    14.5 E-Ink
    14.6 Others
15. Vietnam Displays Market – By Panel Size (Market Size -$Million/Billion)
    15.1 Microdisplay
    15.2 Small Display
    15.3 Medium Display
    15.4 Large Display
16. Vietnam Displays Market - By Geography (Market Size -$Million/Billion)
    16.1 North Vietnam
    16.2 South Vietnam
    16.3 Central Vietnam
17. Vietnam Displays Market - Market Entropy
    17.1 New product launches
    17.2 M&A's, collaborations, JVs and partnerships
18. Vietnam Displays Market – Industry Competitive Landscape (Premium)
    18.1 Market Share – Vietnam
    18.2 Market Share by Type
    18.3 Market Share By End Use Industry
    18.4 Competition Matrix
19. Vietnam Displays Market - Company Analysis
    19.1 Company 1
    19.2 Company 2
    19.3 Company 3
    19.4 Company 4
    19.5 Company 5
    19.6 Company 6
    19.7 Company 7
    19.8 Company 8
    19.9 Company 9
    19.10 Company 10
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