What Is The Scope Of The Global Flat Panel Display Market?
A flat panel display refers to a type of electronic display device that utilizes flat screens, offering higher resolution, better color accuracy, and sharper image quality compared to cathode ray tube (CRT) displays. These displays are characterized by their thin, lightweight design and typically consist of a flat panel of glass or plastic where images or video are displayed electronically. It consists of a flat panel with millions of tiny pixels that emit light when an electrical current passes through them, producing images and colors.
Flat Panel Display Global Market Report 2024 provides data on the global flat panel display market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The Flat Panel Display market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Projections Can We Expect For The Size And Growth Rates Of The Global Flat Panel Display Market?
The flat panel display market size has grown strongly in recent years. It will grow from $129.63 billion in 2023 to $138.21 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to technological advancements, consumer demand for high-quality displays, declining prices, emerging markets, regulatory standards, and environmental concerns. The flat panel display market size is expected to see strong growth in the next few years. It will grow to $179.41 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to the emergence of new display technologies, demand for flexible and foldable displays, the rise of augmented reality (AR) and virtual reality (VR), integration of displays in smart devices and IoT, and demand for energy-efficient displays. Major trends in the forecast period include continued growth in large-screen displays, convergence of display technologies, focus on sustainability and recyclability, personalization and customization, and rapid innovation cycles.
What Are The Core Factors Supporting Growth In The Flat Panel Display Market?
The rising automotive industry is expected to propel the growth of the flat panel display market going forward. The automotive industry encompasses the design, manufacturing, and sale of motor vehicles, including cars and trucks. This sector is growing due to technological advancements, increasing demand for electric and autonomous vehicles, and global economic expansion. Flat panel displays in automotive applications serve as vital components for infotainment systems, providing intuitive interfaces for navigation, entertainment, and vehicle diagnostics, thereby enhancing driving experience and safety. For instance, in May 2023, the European Automobile Manufacturers Association reported a 5.7% increase in global motor vehicle production to 85.4 million units in 2022, compared to 2021. Therefore, the rising automotive industry is driving the growth of the flat panel display market.
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What Are The Major Segments Within The Global Flat Panel Display Market?
The flat panel display market covered in this report is segmented –
1) By Technology: Liquid Crystal Display (LCD), Organic Light Emitting Diode (OLED), Light Emitting Diode (LED), Quantum Dot, Other Technologies
2) By Screen Size: Small Screen, Medium Screen, Large Screen
3) By Application: Smartphone And Tablet, Television And Digital Signage, Personal Computer (PC) And Laptop, Vehicle Display, Smart Wearable, Other Applications
Which Trends Are Expected To Transform The Flat Panel Display Market?
Companies in the flat panel display market are innovating with AI-enabled interactive flat panels to provide advanced features for enhanced customer experience. These panels integrate artificial intelligence to allow users to interact with digital content through touch, gesture, or voice commands. For instance, in May 2023, MAXHUB, a Netherlands-based provider of communication and audio-visual technologies, launched the AI-enabled V6 Series of interactive flat panels. The V6 series, available in sizes from 55 to 86 inches, features advanced audio-visual capabilities powered by AI to improve communication in corporate and educational settings. The series includes seamless screen sharing, robust whiteboard features, and exceptional audio-visual performance, designed to meet diverse collaboration and learning needs.
What Is The Fastest Growing Region In The Flat Panel Display Market?
North America was the largest region in the flat panel display market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the flat panel display market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
