The global display market was valued at $115.60 billion in 2017 and is projected to reach $206.29 billion by 2025, growing at a CAGR of 7.4% from 2018 to 2025.
At present, North America dominates the market, followed by Europe. In 2017, the U.S. dominated the North America market and UK led the overall market in Europe. However, in Asia-Pacific, China currently dominates the market.
High demand for flexible display technology in consumer electronic devices, an increase in adoption of electronic components in the automotive sector, and a rise in trend of touch-based devices drive the growth of the global display market. In addition, great adoption of AR/VR devices and commercialization of autonomous vehicles is anticipated to provide potential growth opportunities for the market. However, the high cost of the transparent and quantum dot display technologies and stagnant growth of desktop PCs, notebook, and tablets restraints the growth of the global display market.
The significant impacting factors in the global display industry include high demand for flexible display technology in consumer electronics devices, increase in adoption of electronic components in the automotive sector, rise in trend of touch-based devices, high cost of the transparent and quantum dot display technologies, stagnant growth of desktop PCs, notebook, and tablets, surge in adoption of AR/VR devices, and commercialization of autonomous vehicles. Each of these factors is anticipated to have a definite impact on the display market during the forecast period.
In recent years, the number of devices having touch sensors has increased exponentially as touch-based devices are easier to access. The touch-based devices require a display panel to operate, which in turn helps in the growth of the display devices. Therefore, a wide range of devices in the home appliances category, such as refrigerator, microwave, washing machine, chimneys, and others, are incorporated with displays with touch sensors. In addition, the automobile industry has witnessed rise in providing sophisticated display devices in the vehicle, such as the navigation system, digital dashboard, digital rearview mirrors, heads-up display, and others. Moreover, use of digital signage and touch-based displays in commercial buildings such as malls, theaters, entertainment hubs, and others have increased due to the complex and large architecture of these structures. These displays are incorporated with touch sensors, which the user can use for navigating and extracting other information. Hence, the trend of touch-based devices drives the growth of the display market.―Open PR