The global displays market size reached USD 157.9 billion in 2022. The displays market is estimated at USD 165 billion in 2023. Demand is poised to soar at 3.8% CAGR between 2023 and 2033. Sales are anticipated to surge to USD 238.8 billion by 2033.
The growing demand for smartphones is increasing demand for displays during the forecast period. As a result, display manufacturers are witnessing a surge in orders for smartphone displays, including OLED and LCD panels. Smartphone OLED screens are becoming increasingly common due to their benefits, including bright colors and energy economy. This shift drives demand for OLED display production, and companies invest in OLED manufacturing facilities.
Smartphone users expect high-resolution displays for better viewing experiences. Manufacturers are investing in advanced technologies such as AMOLED (Active Matrix Organic Light Emitting Diode). It is likely to produce high-resolution screens, which is further boosting demand. The introduction of foldable and flexible displays in smartphones is creating new opportunities. These innovative displays require specialized manufacturing processes, leading to additional demand in the market.
Mini-LED and micro-LED displays are gaining traction in premium smartphones, offering improved brightness and color accuracy. This trend is pushing manufacturers to develop and produce these advanced displays.
| Attributes | Key Insights |
|---|---|
| Displays Market Estimated Size (2023E) | USD 165 billion |
| Displays Market Projected Valuation (2033F) | USD 238.8 billion |
| Value-based CAGR (2023 to 2033) | 3.8% |
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The global displays market experienced growth at 5.0% CAGR during the historical period from 2018 to 2022. Sales are estimated to propel at a 3.8% CAGR. It created a revenue of USD 157.9 billion in the base year 2022.
| Historical CAGR of Displays Market (2018 to 2022) | 5.0% |
|---|---|
| Historical Value of Displays Market (2022) | USD 238.8 billion |
The growing demand for foldable and flexible displays is expected to drive demand in the global displays market. Manufacturers are investing in developing foldable and flexible display technologies. This innovation helps them differentiate their products in a competitive market, attracting consumers looking for unique and versatile display solutions.
Foldable displays are primarily used in smartphones and wearables. As consumer preferences evolve towards large screens that can be folded for portability, this trend will likely boost demand for displays in these product categories.
Foldable and flexible displays offer enhanced user experiences, such as large-screen real estate when needed and compactness for convenience. This improved usability is expected to drive consumer adoption and demand.
Beyond consumer electronics, foldable and flexible displays find applications in various industries such as automotive, healthcare, and retail. These displays enable innovative solutions in these sectors, increasing demand for specialized displays. Foldable and flexible display devices often command premium prices, contributing to increased revenue for manufacturers and, subsequently, great demand for these technologies.
Adopting foldable and flexible displays is not limited to developed markets but extends to emerging economies. This expansion into new markets is expected to drive global demand further. Foldable displays can also contribute to sustainability efforts by reducing the need for multiple devices (e.g., tablets and smartphones) and promoting eco-friendly practices. This will help in attracting eco-conscious consumers.
OLED Dominance:
OLED displays will likely gain dominance due to their vibrant colors, energy efficiency, and flexibility. These qualities will lead to increased adoption of smartphones, TVs, and wearable devices.
Mini-LED and Micro-LED:
These developing technologies have higher contrast ratios and brightness than typical LCDs, making them appealing for high-end TVs and gaming displays.
Foldable and Rollable Displays:
Manufacturers are working on providing foldable and rollable display technology. This will help in creating innovative displays for smartphones and tablets.
High Resolutions:
Consumer viewing experiences are improved by the increasing availability of displays with 4K and 8K resolutions, particularly on larger screens.
Transparent Displays:
Transparent displays are used in retail, automotive, and advertising applications to create interactive and engaging experiences.
In-Display Biometrics:
Displays incorporate biometric technologies like fingerprint scanners and facial recognition for secure authentication.
Automotive Displays:
The automotive sector is seeing an increase in the use of large infotainment screens, heads-up displays, and digital instrument clusters.
Healthcare Displays:
Medical displays evolve with higher resolutions and enhanced color accuracy, aiding diagnosis and treatment.
Flexible Displays:
Displays that can be bent and curved are becoming more common in products such as curved TVs and automotive dashboards.
Holographic Displays:
Advancements in holographic technology are leading to displays that can create 3D holographic images for various applications.
Principal Consultant
Energy Consumption:
Several displays, especially old technologies such as LCDs, can consume significant energy, impacting electricity bills and environmental concerns.
Screen Burn-in:
OLED and some other display technologies are susceptible to screen burn-in, where static images can cause permanent damage to the screen.
Fragility:
Displays, especially those made of glass, are fragile and prone to cracks or breakage when dropped or subjected to physical stress.
Environmental Impact:
The manufacturing and disposal of displays can have a negative environmental impact due to using rare materials, energy consumption, and e-waste generation.
Viewing Angle:
Few display technologies have limited viewing angles, making it difficult for multiple people to view the screen without distortion.
Response Time:
Slow display response times can lead to motion blur in fast-paced content such as gaming or sports.
Security:
Display screens can be vulnerable to privacy concerns, as information displayed on them can be easily viewed by others nearby.
Technology Obsolescence:
Rapid advancements in display technology can lead to products becoming obsolete relatively quickly.
The table below provides the CAGR values the leading countries generate in the global displays market. Based on this table, it is estimated that South Korea is poised to dominate growth, expanding at 6.0% CAGR between 2023 and 2033. China is expected to follow second, growing at 4.5% CAGR through 2033.
| Countries | Value-based CAGR (2023 to 2033) |
|---|---|
| United States | 3.8% |
| United Kingdom | 4.1% |
| China | 4.5% |
| Japan | 4.2% |
| South Korea | 6.0% |
The United States is projected to surge at 3.8% CAGR from 2023 to 2033. The United States display market is set to generate revenue of about USD 41 billion by 2033.
The display market in the United States was significant, driven by the consumer electronics sector during the forecast period. Increasing demand for high-definition screens in various electronic devices such as televisions, mobile devices, and tablets will likely drive sales.
Constant technical advancements include the development of OLED displays and advancements in LCD technology. This will also help drive demand in the market. Displays are used in several applications, including TVs, computer monitors, advertising displays, and industrial equipment.
The United Kingdom is set to expand at 4.1% CAGR in the displays market during the assessment period. By 2033, the United Kingdom market size is expected to reach USD 8 billion.
The display market will likely soar due to their energy efficiency and thin form factors. This will also aid in the improvement of picture quality when compared to typical LCD panels. In consumer electronics, including televisions and computer monitors, displays are often utilized. The market often experiences fluctuations driven by consumer purchasing patterns and technological advancements.
Commercial and industrial uses for these displays include electronic billboards, informational kiosks, medical displays, and automobiles. Market developments in display technology have led to the creation of OLED displays, which provide even greater contrast ratios and slimmer designs than conventional LCDs and LEDs.
China is poised to expand at a CAGR of 4.5% between 2023 and 2033. Revenue generated by sales of displays will likely be worth USD 35.9 billion by 2033.
Due to its enormous manufacturing industry, China has one of the world's most significant display markets. China is a prominent display manufacturing hub with several manufacturing facilities worldwide.
With the introduction of OLED displays and improvements in display technology, the Chinese market witnessed a rapid advance in technology. The Chinese government has provided support and incentives for developing the display industry, including research and development initiatives.
Japan is estimated to register a sum of USD 22.3 billion by 2033. Sales in the global displays market will surge at 4.2% CAGR from 2023 to 2033. The market size is growing due to rising demand from automotive industry.
The automotive sector in Japan is a significant consumer of displays. LCD and LED displays are used in car infotainment systems, navigation, and instrument clusters. Displays are also used extensively in industrial equipment, including manufacturing machinery and medical devices.
Japanese firms have been at the cutting edge of display technology, especially OLED screens. The market has shifted toward OLED technology for luxury smartphones and TVs. Displays are preferred for energy efficiency in various applications, including outdoor advertising and signage.
South Korea is estimated to reach USD 14.9 billion by 2033 in the global display market. Sales are likely to reach a 6.0% CAGR from 2023 to 2033.
With market leaders including Samsung and LG, South Korea has become a significant participant in displays. Both local consumption and exports drove South Korean display demand.
Two of South Korea's top producers of LCD and LED screens are Samsung and LG. They manufacture various displays for digital signs, TVs, monitors, and smartphones.
Manufacturers of displays from South Korea have led the way in the industry's technical development. They have significantly invested in research and development to increase screen sizes, energy efficiency, and display quality.
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The global displays market is divided into LCD and microdisplays divisions. Based on this table, it is predicted that the LCD segment is set to dominate the market with a 3.7% CAGR. On the other hand, the microdisplays division is estimated to exhibit a 3.5% CAGR between 2023 and 2033.
| Category | LCD |
|---|---|
| Value-based CAGR (2023 to 2033) | 3.7% |
In terms of technology, the LCD division is likely to register a 3.7% CAGR from 2023 to 2033. The global display market is supposed to be monopolized by this segment during the forecast period. Due to its widespread acceptance across various devices, LCD technology is at the top of the display market. It comprises digital signs, cellphones, tablets, computer displays, and televisions.
LCD technology will continue to advance in the context of resolution, color precision, and energy efficiency, resulting in an appropriate for expensive and power-conscious applications. From tiny wearable screens to massive high-definition TVs, LCDs were adaptable and could be employed in various shapes and sizes.
| Category | Microdisplays |
|---|---|
| Value-based CAGR (2023 to 2033) | 3.5% |
By panel size, the microdisplays division is set to exhibit a 3.5% CAGR from 2023 to 2033. This segment is anticipated to be at the forefront of the global displays market during the forecast period.
Microdisplays are known for their compact size, making them ideal for emerging technologies such as AR and VR headsets, where size and weight matter. Dominating this niche can have a ripple effect on the entire displays market. Microdisplays often offer high pixel density, contributing to better image quality. If the division can push the resolution boundaries, it can attract customers looking for superior visual experiences.
Energy-efficient microdisplays could appeal to various industries, including wearables and consumer electronics. They seek to prolong battery life while maintaining display quality. Companies offer customizable microdisplay solutions for various applications, such as medical devices, automotive HUDs, and aviation, which can help capture diverse markets.
Key manufacturers often focus on developing cutting-edge display technologies like OLED, QLED, MicroLED, and Mini-LED. It will help them to stay competitive and meet consumer demands for high resolution and quality. They are also expanding their product portfolios to include various display sizes and types, from smartphones and tablets to TVs, monitors, and automotive displays for different verticals.
| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | USD 165 billion |
| Projected Market Valuation (2033) | USD 238.8 billion |
| Value-based CAGR (2023 to 2033) | 3.8% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | Value (USD billion/million) and Volume (MT) |
| Key Regions Covered | Latin America; North America; Europe; South Asia; East Asia; Oceania; and Middle East & Africa |
| Key Countries Covered | United States, Mexico, Brazil, Chile, Peru, Argentina, Germany, France, Italy, Spain, Canada, United Kingdom, Belgium, Nordic, Poland, Russia, Japan, South Korea, China, Netherlands, India, Thailand, Malaysia, Indonesia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Central Africa, and others |
| Key Market Segments Covered | Technology, Panel Size, Vertical, Region |
| Key Companies Profiled | AU Optronics Corporation; BOE Technology Group Co., Ltd.; Chunghwa Picture Tubes Ltd.; Hannstar Display Corporation; Innolux Corporation |
The global displays market might reach USD 165 billion in 2023.
The displays market is set to surge at 3.8% CAGR over the forecast period.
The global displays market is expected to reach USD 238.8 billion by 2033.
The key market players are AU Optronics Corporation, BOE Technology Group etc.
Growing demand for flexible and foldable displays will likely boost sales in the market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Technology 5.1. LCD 5.2. OLED 5.3. Micro-LED 5.4. Direct-View LED 5.5. Others 6. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Panel Size 6.1. Microdisplays 6.2. Small & Medium-Sized Panels 6.3. Large Panels 7. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Vertical 7.1. Consumer 7.2. Automotive 7.3. Sports & Entertainment 7.4. Transportation 7.5. Retail / Hospitality / BFSI 7.6. Industrial & Enterprise 7.7. Healthcare 7.8. Others 8. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. AU Optronics Corporation 18.2. BOE Technology Group Co., Ltd 18.3. Chunghwa Picture Tubes Ltd. 18.4. Hannstar Display Corporation 18.5. Innolux Corporation 18.6. Japan Display, Inc. 18.7. LG Display Co., Ltd. 18.8. Panasonic Corporation 18.9. Samsung Electronics Co., Ltd. 18.10. SAP SE 19. Assumptions & Acronyms Used 20. Research Methodology
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