Rapidly mushrooming consumer electronics industry will remain the key driving force for soaring demand for flat panel display in the global market. The global flat panel display market, valued at US$ 102 Mn in 2015, is likely to gain a considerable uplift by the end of a five-year forecast period 2015-2020. Over the assessment period, PMR estimates the expansion of the market at a CAGR of 5.8%.
The global flat panel display market is primarily driven by rising adoption of FPD in a host of consumer electronics devices, including televisions, mobile devices, laptops, tablets, and desktop monitors. With thriving consumer electronics sector, the market is expected to witness a parallel demand for HMI (human-machine interface) technology.
This will, in turn, accelerate the FPD market growth. Moreover, the automotive sector is increasingly raising the demand for flat screen monitors. Rising demand for large-sized displays and a rapid pace of technology adoption will collectively contribute to the market growth. Moreover, manufacturers are increasingly investing in FPD R&D, which is an important factor estimated to boost the market in near future.
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Rapid price rebound has been an important factor propelling the demand for flat panel display since the past few years. The emergence of innovative FPD models by leading manufacturers is foreseen to be another key factor escalating the demand. The introduction of OLED to the market is identified to present lucrative opportunities, superior to conventional LCD.
Consistent industrial flat panel (IFP) display monitor launches will continue to boost the market further. The global flat panel display market is anticipated to witness a number of application-based opportunities in verticals other than automotive and electronics. Education, media, and advertising sectors are the most likely to spur the demand for FPD within next few years.
In addition, growing usage of flat panel display in high-resolution medical imaging technology is a strong factor expected to impact the market growth positively. The discernible proliferation of mobile computing devices and rapid advancements in semiconductor manufacturing technology are also projected to support the FPD market growth during the forecast period.
By technology, liquid crystal display (LCD) is estimated to remain the dominant segment with a market share of over 86% by 2020 end, and revenues of over US$ 116 Mn. The second largest segment – plasma display will, however, reach a value of over 11 Mn by 2020 end. Organic light emitting diode display (OLED) segment is likely to see substantial growth through 2015 to 2020.
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Based on application, consumer electronics will continue to be the leading application segment, followed by the automotive sector.
On the basis of the regional analysis, the global FPD market is likely to be the most concentrated in emerging Asian countries, attributed to the major cluster of consumer electronics manufacturers in the Asia. APEJ is predicted to remain dominant with nearly 85% share in terms of revenues, whereas Japan will remain the second largest market with around 10% share of the market by 2020 end. Americas and Europe will represent significantly growing markets over the forecast period.
A few key market players are Sony Corporation, Panasonic Corporation, LG Display Co. Ltd., Sharp Corporation, Samsung Electronics Co. Ltd., and Emerging Display Technologies Corp. Some other notable companies include AU Optronics Corporation, Innolux Corp., Japan Display Inc., and Universal Display Corporation.
Long-term Outlook: The global flat panel display market will attain a value worth US$ 135 Mn over the forecast period 2015-2020.
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