Flat Panel Display Market is Expected to Surpass US$ 197,683.5 Mn by The End of 2028

A flat panel display (FPD) is an electronic vehicle device used to facilitate people to view content in a range of entertainment. The flat panel displays are more portable, thinner, and lighter than conventional CRT displays. These displays find applications laptop computers, TV monitors, portable electronic, and digital cameras. There are two different categories of FPDs namely emissive displays and non-emissive displays. FPDs offer high pixel resolution, enhanced contrast setting, and lower power consumption.

Market Statistics:

The global flat panel display market is expected to surpass US$ 197,683.5 Mn in terms of value by the end of 2028.

Global Flat Panel Display Market: Driver

Extended life of FPDs is expected to boost the global flat panel display market growth over the forecast period. LED display devices to offer extended operational life and find application sophisticated medical devices, medical & defense applications. For instance, in 2013, Curtiss-Wright Controls Defense Solutions introduced the 21.5” LCD- touchscreen Skyquest AVDU5500 rugged display for use in fixed-wing aircraft and helicopters. Furthermore, NEC Display Solutions introduced the 24” color 2.3-Megapixel Medical Clinical Display with integrated front sensor for application in picture archiving and communication system (PACS) and medical imaging.

Global Flat Panel Display Market: Opportunity

Constant technological advancements in monitor display technology can provide lucrative growth opportunities. PC and laptop display technology is developing rapidly, in which rising popularity for touchscreen displays and ultra HD displays. Introduction of touchscreen laptops and monitors by major market players such as Dell and Lenovo etc. Moreover, major market players are focused on introducing advanced FPDs. For instance, Samsung, Dell, and Asus have introduced 4K Ultra HD displays. Moreover, Apple, Inc. has introduced MacBook Pro Laptop with a retina display. Market players can capitalize on these opportunities and gain a competitive edge in the market.

Global Flat Panel Display Market: Recent Developments

1. In November 2020, OLEDWorks partnered with Lumenique LLC. This partnership marks Lumenique, a manufacturer of lighted artwork, an early adopter of OLED lighting technology.
2. In May 2020, Universal Display and Wuhan China Star Optoelectronics Semiconductor Display Technology Co., Ltd. signed a new OLED technology license agreement and supplemental material purchase agreement. Under the long-term agreements, UDC will supply phosphorescent OLED materials to Wuhan China Star Optoelectronics for use in display products through its wholly-owned subsidiary UDC Ireland Limited.
3. In February 2020, Samsung unveiled its Onyx screen in Australia at the HOYTS Entertainment Quarter in Moore Park, Sydney. The new installment features Samsung’s latest 14-meter Onyx Cinema LED screen.
4. In April 2019, Japan Display Inc. announced to supply organic light-emitting diode (OLED) screens for Apple Watch in the later part of 2019.
5. Major companies in the market are involved in research and development activities, in order to gain a competitive edge in the market. For instance, in April Universal Display Corporation started working on foldable, relatable, and flexible screens.

Global Flat Panel Display Market: Restraint

Growing shift towards other technologies is expected to restrict growth of the global flat panel display market during the forecast period. Manufacturers are shifting toward newly emerging, enhanced technologies such as LCD and OLED. Although plasma TVs are considered energy efficient, they consume more power as compared to the majority of other FPDs. Companies producing plasma panels are shifting towards producing LCD displays in order to gain a completive advantage in the market. For instance, in 2013, Panasonic stopped production of plasma display televisions at its assembly plant in Shanghai, China, due to a decline in demand for plasma TVs.

Global Flat Panel Display Market - Impact of Coronavirus (Covid-19) Pandemic

Since the outbreak of COVID-19 pandemic, many industries have been impacted including the global flat panel display market. With most countries adopting stringent lockdown policies and regulations on physical distancing, major economic activities were suspended. This, in turn, has impacted manufacturing activities in the consumer electronics industry, thereby affecting growth of the flat panel display market. Furthermore, governments had to briefly suspend international travel and trades, in order to curb the spread, thereby hampering the global supply chain industry. However, many countries have started relaxing the COVID-19 regulations, where manufacturing companies have restarted the production activities.

To know the latest trends and insights prevalent in Global Flat Panel Display Market, click the link below:

https://www.coherentmarketinsights.com/market-insight/flat-panel-display-market-4676

Key Takeaways:

• The global flat panel display market was valued at US$ 135,000 Mn in 2020 and is forecast to reach a value of US$ 197,683.5 Mn by 2028 at a CAGR of 5.8% between 2021 and 2028. This is owing to LMN factors
• The automotive application segment was valued US$ 32,173.7 Mn in 2020 and is expected to witness a CAGR of 0% over the forecast period. This owing to growing demand for luxury cars.

Market Trends

Flat-panel displays are extremely useful on the battlefield and are used by all defense forces of several countries. These are robust and designed for harsh conditions or in battle zones and are deployed in tanks, aircraft, and ships, and submarines, besides other vehicles. For instance, Milcots provides rugged displays, FPDs, and display-related hardware to the military. Furthermore, Avalex Technologies develops airborne surveillance displays and military avionics displays such as widescreen displays, landscape displays, SMART displays, custom display consoles, and portrait displays.

Demand for hybrid and electric cars is growing because of rising environmental concerns, which is expected to fuel demand for FPDs for this car segment; also, these cars are equipped with larger screens. For instance, Nissan LEAF with flat-panel center C-stack cluster, which includes rearview color monitor, navigation system, and audio as well as climate control system panel. Using this display option, users can access the CARWINGS telematics system, which is connected with the Nissan data center.

Competitive Section

Key companies involved in the global flat panel display market are Sony Corporation, AU Optronics Corp., Panasonic Corporation, Emerging Display Technologies Corp., LG Display Co. Ltd., Innolux Corp., Universal Display Corporation, Japan Display Inc., and Samsung Electronics Co. Ltd.