A comprehensive overview of the display Panel market is recently added by UnivDatos Market Insights to its humongous database. The display panel report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the display panel market. The display panel report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing market growth. Furthermore, this statistical market research repository examines, and estimates display panel at the global and regional levels. The Display Panel Market is expected to grow at a CAGR of ~10% from 2021-to 2027.
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Market Overview
Surging internet penetration coupled with the adoption of smart technology-enabled devices such as mobiles, laptops, and tablets is contributing to the growing market for display panels. Global retail e-commerce sales stood at US$2,290 billion in 2017 and reached US$2,774 billion in 2018. Global e-commerce sales are expected to total US$4.891 trillion worldwide in 2021. Thus, global e-commerce sales are predicted to show 20% growth, representing a huge number for business and certainly a steady trend with no signs of decline soon. Online sales are expected to show a rising trend and take a larger piece of the retail pie. By 2024, it is estimated that global retail e-commerce sales would reach US$7.09 trillion by 2025. The overall e-commerce share of retail sales will represent 21.8%.
Also, a decline in the prices of semiconduction globally is one of the prominent reasons which is driving the growth of consumer goods, so the demand for display panels is also uplifting. Globally, the price of semiconductors has decreased significantly over the past few decades. The steady price reduction is caused indirectly by Moore’s Law, an observation that the number of transistors that can be inexpensively placed on a circuit board doubles every two years. As computing capacity grew exponentially every year, manufacturers around the world can create more powerful chips using less expensive silicon.
COVID-19 Impact
The COVID-19 pandemic has created a mixed impact on the global display panel market. The work-from-home culture and rise in the demand for smartphones boosted the market during the pandemic. As it has been noticed that due to shut down most of the manufacturing sites have been closed which has negatively impacted the market during the pandemic due to the disruption in supply chains and shortage of semi-conductor. LCD production in China is slowing as a result of the COVID-19 outbreak, LCD panel makers are seeking sharp price increases from their original equipment manufacturer (OEM) customers, with a month-to-month jump of as much as 10% in some cases. As per Omdia Display, the price for the notebook displays witnessed a hike, due to the 30–40% decrease in production for 2020’s first financial quarter (Q1), because of shortages in LCD modules. However, during the period when the unlock procedure started a steep rise in the market in terms of revenue was noticed.
The display panel market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By resolution, the market is primarily bifurcated into
• 8K
• 4K
• HD
• Others
The 8K segment grabbed major market share and dominated the market in 2020. 8K is a higher resolution than 4K and 8K UHD has the standard 16:9 aspect ratio used by most modern TVs and computer monitors and has 7680 x 4320 pixels.
By application, the market is primarily bifurcated into
• Smartphones and Tablets
• PC and Laptop
• Television
• Others
The smartphones and tablets segment grabbed XX% market share in 2020. The emerging adoption of smartphones coupled with the availability of affordable phones across countries is one of the prime reasons which is contributing to the growth of display panels. In India, around 71% of smartphone repairs are related to screen damage. As the most common part, the screen is repaired 77% of the time in India.
Display Panel Market Geographical Segmentation Includes:
• North America
• Europe
• Asia-Pacific
• Rest of the World
Based on the estimation, the Asia Pacific region grabbed XX% market share in 2020. The rising adoption of display devices in various industries, especially in countries such as China, India, and South Korea, is a key factor supporting the market growth. Moreover, due to the COVID-19 pandemic, the demand for smartphones and laptops has increased because of work-from-home norms.
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The major players targeting the market include
• AU Optronics Corporation
• BOE Japan Co. Ltd
• Innolux Corporation
• LG Display Co. Ltd
• Samsung Electronics Co. Ltd
• Panasonic Corporation
• Sharp Corporation
• Hisense Co. Ltd
• Toshiba Corporation
• Sony Corporation
The degree of competition among prominent regional companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the display panel market. The leading players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
· What are the latest trends, new patterns, and technological advancements in the display panel market?
· Which factors are influencing the display panel market over the forecast period?
· What are the global challenges, threats, and risks in the display panel market?
· Which factors are propelling and restraining the display panel market?
· What are the demanding global regions of the display panel market?
· What will be the global market size in the upcoming years?
· What are the crucial market acquisition strategies and policies applied by global companies?
We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.
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About UnivDatos Market Insights
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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Article Added
Jun 1, 2022
Display Panel Market to Reach Higher by 2027, Globally| UnivDatos Market Insights
A comprehensive overview of the display Panel market is recently added by UnivDatos Market Insights to its humongous database. The display panel report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints,...
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