According to the global research experts opinion, the display market was valued at USD 106.41 Billion in 2015 and is expected to reach USD 169.17 Billion by 2022, at a CAGR of 7.5% between 2016 and 2022.
Some of the main reason behind this growth such as growing demand for flexible displays in smartphones, smart wearables, e-readers, and other applications is the main driver of the market. It is also driven by factors such as rising demand for OLED-based devices and development of energy-efficient, attractive designs and high specification display products.
Devices based on new technologies such as OLED and Quantum dot LED are expected to penetrate into other sectors such as smart home appliances, automotive, and others in the near future.
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Consumer electronics led the display market in terms of market share in 2015, with the trend likely to continue till 2022. The high acceptance rate of newer technologies in consumer electronics (such as smartphone, tablet, TV, PC monitor, laptop, and smart wearables), which are always in high demand, is the main reason for its largest market share in the market.
The quantum dot LED market is expected to grow at the highest rate between 2016 and 2022. The recent launch of QD-LED technology for TV application and its continuous development for other applications, such as PC monitor, laptop, smartphone, and others, are driving the growth of QD-LED technology. QD-LED-based devices offer high quality picture and thin design at low power consumption. Also, the manufacturing process of QD-LED-based panels is simpler than OLED technology.
North America held the largest share of the market in 2015 owing to the high adoption rate of newer technologies such as OLED and QD-LED in the U.S, which is a major contributor to the growth of the market in the region.
APAC is expected to grow at the highest rate between 2016 and 2022 due to the presence of major panel and brand product manufactures in this region. Due to this and the large consumer population in the region, companies usually launch their new technologies or products in APAC.
Major companies operating in the this market are LG Display Co., Ltd. (South Korea), Samsung Electronics Co., Ltd. (South Korea), AU Optronics Corp. (Taiwan), Innolux Corp. (Taiwan), and Japan Display Inc., (Japan), etc.
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