The global flat panel display market size was US$ 141.2 billion in 2021. The global flat panel display market is forecast to grow to US$ 241.4 billion by 2030 by growing at a compound annual growth rate (CAGR) of 6.9% during the forecast period from 2022 to 2030.
A flat panel display is an electronic display that depicts information in the form of words, films, photos, etc. Flat-panel screens are lightweight. In addition, they are mostly used in consumer electronic devices like smartwatches, laptops, tablets, etc.
Factors Influencing the Market
Flat-panel displays are lightweight and enhance the visual experience of the consumers. In addition, the display finds its applications across several industry verticals, such as transportation, retail, sport & entertainment, consumer electronics, etc. Thus, the wide applications of flat panel displays will drive the market forward.
Furthermore, smartphones, smart wearables, televisions, etc., are gaining significant traction in the last few years. Thus, it will benefit the global flat panel display market. In addition, growing advancements related to energy-saving devices will benefit the global flat panel display market. For instance, Samsung Electronics unveiled "The Wall" in 2019. It is considered to be the world's first modular micro-LED television having a display extended to hundreds of inches in size.
The surge in the demand for in-vehicle display technology in the automotive industry will contribute to the growth of the flat panel display market. Furthermore, growing disposable income combined with the rising awareness about the health benefit of smart wearables will escalate the flat panel display market growth.
COVID-19 Impact Analysis
The wake of the COVID-19 pandemic drastically dropped the sales of electronics and automotive. As a result, the demand for flat panel displays also decreased steeply. The automotive manufacturers witnessed a substantial downfall. Electronic companies also observed various obstacles, such as the unavailability of raw materials and laborers. Furthermore, R&D activities were either postponed or completely canceled, which ultimately hampered the global flat panel display market.
Regional Analysis
The Asia-Pacific flat panel display is forecast to emerge as the largest market, owing to the growing population and rising employment rate. Furthermore, the market is witnessing the rising adoption of advanced technologies in the countries like China and India. Furthermore, the growing trend of touch screen displays, interactive tables, kiosks, and other displays will significantly benefit the flat panel display market.
Furthermore, the growing interest of the population in interactive displays, video walls, and touchscreen technology will escalate the growth of the market. The region is also home to some of the prominent automotive and electronics manufacturers, which will contribute to the growth of the global flat panel display market.
Competitors in the Market
Market Segmentation
The global flat panel display market segmentation focuses on Application, Technology, Industry Vertical, and Region.
By Application Outlook
By Technology Outlook
By Industry Vertical Outlook
By Regional Outlook
