Portland, June 03, 2020 (GLOBE NEWSWIRE) — As per the report published by Allied Market Research, the global flat panel display industry pegged at $116.80 billion in 2018 and is anticipated to hit $189.60 billion by 2026, registering a CAGR of 6.10% during 2019 to 2026. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenario.
Rise in demand for vehicle displays technology in automotive sector, increase in demand for OLED display devices in smartphones & tablets, and surge in adoption of interactive touch-based devices in education sector drive the growth of the global flat panel display market. However, high cost of new display technologies and stagnant growth of desktop PCs, notebook, & tablets restrain the growth to some extent. Nevertheless, rise in adoption of flexible flat panel display is anticipated to offer number of opportunities in the coming years.
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COVID-19 Scenarios:
- The flat panel display industry has been impacted by the novel coronavirus outbreak. The major manufacturing firms have suffered from suspensions of their ongoing assignments and strategies, owing to the lockdown measures.
- The disruption in the supply chain due to the restrictions, on the other hand, has been a major concern for the manufacturers. Furthermore, the shutdown of certain supporting sectors including automotive and electronics have restrained the demand for flat panel.
- However, relaxations in restrictions in certain regions, and demand for healthcare equipment would aid the industry to stabilize in terms of revenue.
The flat panel display market is segmented into technology, application, industry vertical, and region. Based on technology, the LCD segment contributed to more than three-fifths of the global flat panel display market share in 2018 and is expected to lead the trail during 2019–2026. However, the QD segment would showcase the fastest CAGR of 9.8% by 2026.
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Based on industry vertical, the retail segment generated the major share in 2018, holding nearly one-fifth of the global flat panel display market. The segment is anticipated to maintain its dominance throughout the forecast period. At the same time, the automotive segment would cite the fastest CAGR of 10.5% during the study period.
Based on geography, the market has been analyzed across regions including Asia-Pacific, Europe, LAMEA, and North America. The North America region accounted for nearly two-fifths of the global flat panel display market revenue in 2018 and is anticipated to rule the roost till 2026. On the other hand, the region across Asia-Pacific would register the fastest CAGR of 9.7% throughout the forecast period.
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Key market players in the report include NEC Corporation, Sony Corporation, Sharp Corporation, Japan Display Inc., Samsung Electronics Co. Ltd, G Display Co., Ltd., E ink Holdings Inc., AU Optronics Corp., Panasonic Corporation, and Crystal Display Systems Ltd.
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