Display Component Market Trends

Growth Drivers

• Increasing Usage of LED Displays for TVs, Digital Signages, and Video Walls- Many devices, including TVs, digital signages, video walls, and cell phones, automotive smart display, use this technology. 65% of end users intend to spend more on digital signage and will spend more on buying new displays, and 42% will spend more on creating content. Compared to other display technologies, LED displays have grown to be one of the most popular and occupy a sizable market share in a variety of applications. Improvements in resolution, brightness, product variety, and the development of long-lasting surface LEDs and micro-LEDs are just a few examples of the technological developments that have fuelled the market's expansion.

• Technologies like Micro-LED and Mini-LED will Open up New Growth Opportunities for the Display Business- Micro-LED displays, have various advantages over traditional display technologies, including better colour accuracy, increased contrast, and quicker response times. Micro-LED displays are also more power-efficient and suitable for a wide range of devices, such as laptops, smartphones, AR/VR headsets, and huge digital signage. Because of these benefits, micro-LED screens are a promising technology that could completely change the display component market.

• Expanding Usage of Flexible and Foldable Panels- Because flexible substrates are employed in their fabrication, flexible panel displays can be bent. These flexible substrates can be made of lightweight, thin, and long-lasting plastic or flexible glass. Furthermore, they are bent or curved by manufacturers and used in final devices like laptops, PCs, and cell phones. OLED display panels serve as the foundation for flexible display technology, which powers foldable phones. Over the past few years, foldable panels for displays have gained popularity in notebooks, tablets, and smartphones. High-end smartphones are increasingly being equipped with these foldable panels. Demand for high-end cell phones is rising as a result of consumers' greater disposable income.

Challenges

• Reduction in Demand from the Retail Industry as a Result of the Move to Internet Advertising- These days, digital ads are getting more advanced, tailored, and pertinent. Customers are spending more time online than ever before due to the rise in internet usage, and digital advertising provides a perfect means of connecting with multi-channel customers. As a result, the retail industry's need for displays is decreasing. The market for displays is also being hampered by consumers avoiding touchscreen display panels in public areas as a result of the coronavirus outbreak. During the projected time, these factors are impeding the expansion of the display market.

• Availability of substitutes is anticipated to impede the growth of the market.

• The high cost of the latest display technologies may hinder the growth of the market.