Demand for Touch-based Devices is Developing the Global Display Market With 5.92% of CAGR by 2027
“According to a new market research report published by Inkwood Research, “the Global Display Market is growing at a CAGR of 5.92% during the forecasting years of 2019-2027.”
“Browse 34 market Data Tables and 39 Figures spread over 90 Pages, along with an in-depth TOC on Global Display Market forecast 2019-2027.”
The global display market is to witness significant growth across the globe over the forecasting years (2019-2027). The primary reasons for the market development are the rising demand for touch-based devices and propelled requirement of OLED- based devices. The display market has a classification of various technologies, which include light-emitting diode (LED), liquid crystal display (LCD), organic light-emitting diode (OLED), and others. The key end user in the market is consumer electronic devices such as smartphones, TV, laptops, tablets, smartwatches, and others. Among all, television & digital signage is the prominent application in the market due to the high adoption of AR/VR devices and commercialization of autonomous vehicles.
Recent years have witnessed a trend for touch sensors in a number of devices due to its easier accessibility. The touch-based devices require a display panel for operation. A wide acceptance in the home appliances category, such as microwave, refrigerator, chimneys, washing machine, among others is one of the prime factors that is sustaining this trend in the market. Moreover, efforts of automobile industry in providing sophisticated display devices in the vehicle, such as the navigation system, digital dashboard, digital rearview mirrors, heads-up display, and others, along with use of digital signage and touch-based displays in commercial buildings for navigating and extracting other information is driving the trend of touch-based devices in the display market.
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The automotive sector in the display market is to rise at a significant growth rate during the forecast period. The constant efforts to improve passenger in-car experience by car manufactures is majorly contributing to the automotive display market globally. The automotive display is equipped to deliver essential information to the driver. Therefore, automobile OEMs are continuously improving the designs and including more features in order to enhance the driver/passenger experience.
Asia-Pacific to Boost Growth in the Global Display Market
In the emerging markets of Asia Pacific, consumer electronics is one of the biggest industries in the manufacturing sector. With the rising disposable income, an array of local manufacturing companies are entering the global scale, launching innovative technological products and rising awareness amongst consumers. Also, the presence of leading manufacturers and increasing consumption is driving the automotive market value in the region. Above factors are set to leverage the display market with potential growth opportunities in the Asia Pacific region.
As the operating pool is very high, the display market is facing a lot of competition. Prominent players in the market like Hannstar Display Corporation, Au Optronics Corp., E Ink Holdings Inc., LG Display, Corning Incorporated., Samsung Electronics Co. Ltd., Japan Display Inc., NEC Display Solutions, Ltd., Kent Display Inc. and Sony Corporation are strategically approaching with partnerships, merger & acquisition, product launch, contracts, agreements to gain a competitive hand over their competitors.
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Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy; with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises of North & South America, CEE, CIS, Middle East, Europe, Asia, and Africa.