Global Display Component Market-By Technology, By Final Product, and By Region-Forecast 2022-2031

The display component market is estimated to grow from a market value of approximately US $ 293,836 million in 2022 to approximately US $ 386,926 million by 2031, with a CAGR of 3.5% during the 2022-2031 forecast period. It has been.

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Increased global TV unit sales, increased demand for smartphones, computers and laptops Factors such as increased sales and advances in display technology are expected to drive the growth of the display components market during the forecast period. Increasing the use of display components in medical devices is also contributing to the growth of the display component market. Smartphone sales have grown significantly over the past few years, surpassing 150 million units in 2020. In addition, smartphone ownership has skyrocketed over the past few years due to the rapid advances in cellular network technology and the need for advanced handheld devices.

According to Pew Research Center statistics, smartphone ownership in the United States increased from 35% on May 21, 2011 to 85% on February 7, 2021. Modern smartphones are equipped with different types of displays, such as AMOLED displays and LCD displays, with variable refresh rates up to 144Hz. Therefore, the surge in smartphone sales is expected to drive demand for display components and drive the growth of the display components market.

Continuous technological advances such as the Internet of Things (IoT), artificial intelligence (AI), 5G (5th generation cellular technology), robotics, virtual reality and augmented reality, and cloud computing are key to market growth. I am a contributor. The significant impact of these innovative technologies on almost every part of business and services around the world also contributes to market growth. According to an analysis by the United Nations Conference on Trade and Development (UNCTAD), the 5G market will account for US $ 608 million in 2018 and is estimated to account for an additional US $ 277 billion. China (9.5 million) has the highest number of 5G jobs, followed by the United States (3.4 million) and Japan (2.1 million). Another analysis by UNCTAD shows that Japan’s ICT goods exports (% of total goods exports) accounted for 8% in 2019. Similarly, in the same year, the United States accounted for 8.7%, followed by Germany at 4.9%, the United Kingdom at 4%, and France at 3.8%. This growth is estimated to boost market growth during the forecast period.

Display Component Market Segment

The display component market is by technology (LCD displays, LED displays, OLEDs, plasma displays, etc.), panel sizes (micro displays, small and medium-sized panels, large panels), and final products (monitors, laptops, etc.). (TVs, smartphones, tablets, car displays, etc.), and divided by region. These segments are further subsegmented based on various factors and consist of some additional information about the market, such as the combined annual growth rate of each segment and subsegment, the market value and volume of the valuation period.

Regional overview of the display component market

In addition, the report covers all regions of the world, divided into North America, Europe, Asia Pacific, Latin America, Middle East & Africa and more. The Asia Pacific display component market is expected to grow at a CAGR of approximately 3% during the forecast period. Population growth, urbanization, and increased adoption of televisions, smartphones, laptops, etc. are key factors expected to drive the growth of the display component market in the region. In addition, according to World Bank statistics, the proportion of urban population in the region increased from 78.5% in 2010 to 81.1% in 2020. This is also expected to drive the growth of the display component market in the region.

For further analysis, each region is further subdivided into countries:

· Asia Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Singapore, and other Asia Pacific)

· North America (US and Canada)

· Middle East and Africa (Israel, GCC [Saudi Arabia, Arab Emirates, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, and other Middle East and Africa)

· Latin America (Brazil, Mexico, Argentina, and others) Latin America)

· Europe (UK, Germany, France, Italy, Spain, Hungary, Belgium, Netherlands, Luxemburg, NORDIC, Poland, Turkey, Russia and other Europe)

Key players in the display component market

Leading key players in the display components market include LG Electronics, Innolux Corporation, NEC Corporation, Panasonic Corporation, AU Optronics Corp., Sony Corporation, Samsung Group, Leyard Group, BOE Technology Group Co., Ltd. and others. The survey includes in-depth competitive analysis, corporate profiles, recent developments, and key market strategies for these major companies in the display component market.

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