Display Component Market Size

Display Component Market size is expected to reach USD 531 Billion by the end of 2036, growing at a CAGR of 4% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of display component was over USD 319 Billion. The primary factor driving the market's expansion is the rising demand for smartphones around the globe. Approximately 1.39 billion smartphones were sold globally in 2022, according to smartphone vendors Furthermore, the necessity for sophisticated portable devices and the quick improvements in cellular network technology have contributed to the recent spike in smartphone ownership.

In addition, the recent trends in the width of these displays getting thinner, the rising popularity of flat-panel displays, and the increase in television unit sales globally, and these factors are all anticipated to fuel market expansion. In addition, throughout the projected period, the growing use of screens in various medical equipment is anticipated to bolster market expansion.