Panels are the displays which act as surface for display and control components and serves as the direct interface for human/machine dialogue to display information in various forms such as text, video, picture and others. These are of different types which include liquid crystal display (LCD), organic light emitting diode (OLED), plasma display panel (PDP), electronic paper display (EPD), electroluminescent displays (ELD), liquid crystal on silicon (LCOS), and others. Several panel technologies have emerged and the market for display markets has become highly competitive because of the overcapacity of production. The LCD panel market is the current market leader among other technologies and has reached its maturity level of the product life-cycle. The panel industry is witnessing rapid technological changes and as a result several product infringements are being taken place.
The panel market was valued at USD 114.16 billion in 2014 and is expected to grow at an estimated CAGR of 5.60% between 2015 and 2020. The key market drivers contributing to the growth of the market primarily include the growing demand for large-size OLED panels for televisions, and increase in demand for automotive and digital signage displays. However, overcapacity of the current market has resulted in the declining prices of panels and hence reducing the profit margins and revenues.
Display Panel Market
The television application segment generated the most revenues for the market, accounting for 32.07% of the global market in 2014. The increased application of panels in various applications including automotive, digital signage, and smart watch is likely to grow at a significant rate during the forecast period. OLED has become the emerging technology and the OLED panel market is expected to grow at a significant rate of 22.48% between 2015 and 2020, especially for large-size displays. However, flexible display panel market is expected to grow at a CAGR of 68.29% during the forecast period, driven by the expected increase in the demand for smartphones, tablets and smartwatches apart from televisions.
Do Report Inquiry Before Buying @ Click Here
Asia-Pacific has dominated the market with a share of 75.59% of the global market in 2014, due to the well-established manufacturing facilities of the consumer electronics and increased adoption of consumer electronics. The increase in end-user awareness and several benefits provided by advanced technologies have driven the said market in Asia-Pacific. The major key players have been expanding their presence through partnerships and collaborations, to cater to the growing market, especially for OLED panels. These factors along with the increase in investments in research and development for advanced technologies by companies are expected to address the present challenges and drive the market during the forecast period.
Related Report @ Digital Signage Market
