The electronic display market size is
expected to reach USD 733.7 billion by 2022, according to a new report by Grand
View Research, Inc. Surge in demand for electronic displays in number of
applications including consumer electronics, digital signage, and automation,
is expected to drive the market over the forecast period. Growing demand for
screens equipped with high-resolution displays is anticipated to drive growth
for mobile devices such as smartphones and tablets.
Growing
adoption of 3G and 4G communication technologies owing to their affordability,
along with the availability of Wi-Fi in private as well as commercial spaces
has positively impacted the popularity of video streaming, thereby opening new
avenues for market growth.
There have
been significant advances in electronic display technologies over the past few
years. Cathode ray tubes were prominently used in the electronic display market
for several years until they were replaced by more advanced plasma, LCD, and
LED display technologies.
LED and OLED
displays experienced high market penetration over the last few years, and are
expected to witness similar trends over the forecast period. Flourishing mobile
commerce and gaming markets have resulted in growing demand for smartphones and
tablets with high-resolution screens.
However,
manufacturer responsibilities have increased owing to the enforcement of the
Restriction of Hazardous Substances (RoHS) and Waste Electronics and Electrical
Equipment (WEEE) standards. The standard intends on decreasing the amount of
hazardous e-waste, which may negatively impact the environment.
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Further key findings from the study suggest:
- OLED technology segment is expected to grow at a CAGR of over 15% over the forecast period. OLED displays offer benefits such as high resolution and ultra-high clarity to enhance the value proposition for consumers. These factors have led to increased adoption of AMOLED displays in smartphones. In addition, several OLED makers including BOE display and CSoT in China are heading towards increasing OLED TV production, which is expected to fuel its growth over the future.
- Consumer electronics application contributed to over 50% the overall global revenue shares in 2014. Increasing penetration of consumer electronics is expected to witness healthy growth in Asia Pacific. Proliferation of m-commerce and gaming are anticipated to contribute towards smartphone and tablet growth, which in turn drive the electronic display demand over the next few years. Increasing demand for LED and OLED TVs is also expected to propel the industry growth.
- Retail industry in end-use segment is expected to witness a CAGR of 12.3% over the forecast period. Retailers across the U.S. and Europe are widely adopting digital signage solutions for effective customer targeting. Combined with customer smartphone apps and in-store discounting, digital signage provides significant advantage to the retailers in terms of capturing customer attention and marketing strategy.
- Asia Pacific regional market is expected to grow at a CAGR of close to 15% over the forecast period. Major manufacturers in the industry are based in countries from the Asia Pacific region, such as Taiwan and China, owing to cheap labor and higher production capacities. This has led to an increased adoption if electronic displays in the region.
- Key industry participants include AU Optronics Corp., Cambridge Display Technology Ltd., LG Display Co., Mitsubishi Electric Corporation, Panasonic Corporation, Sony Corp., and Toshiba Corp.
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About
Grand View Research:
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email:
sales@grandviewresearch.com
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