Display Market: Smart Displays Propel Growth to USD 207.79 Billion by 2023 | SkyQuest Technology

WESTFORD, Mass., July 25, 2024 /PRNewswire/ -- According to SkyQuest, the global Display Market size was valued at USD 152.46 billion in 2022 and is expected to grow from USD 157.8 Billion in 2023 to reach USD 207.79 Billion by 2031, at a CAGR of 3.5% during the forecast period (2024-2031).

The display market is a continuously changing sector that consists of a wide range of technologies and benefits. With the advancement of innovative display technologies such as OLED, LED, and micro-LED the market is prepared to take-off with the rising trend of high-resolution displays and memorable watching experience. One of the primary reasons for the massive growth of the display market is rapid technological advancement. This has helped the customers to get better visuals and performance. One of the major roles of the display market is to offer diverse visual interfaces for several devices like tablets, smartphones, screens for television, monitors, and car displays. It also helps to make the interaction among users' fun and entertaining. Customers have also started to demand for displays with increased resolutions, vibrant colors, and higher level of brightness. This has encouraged the manufacturers to be innovative and build highly advanced display technologies.

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Display Market Overview: 

Segments covered in Display Market are as follows:

• Display Technology
• LCD, OLED, Micro-LED, Direct-View LED, Quantum Dot Display, E-Paper Display, Digital Light Processing, Projection Cubes, Others
• Resolution
• 8K, 4K, FHD, HD, Lower than HD
• Panel Size
• Micro display, Small and Medium size Panels, Large Panels
• Panel Type
• Fixed Panel, Flexible Panel
• Dimension
• 2D Display, 3D Display
• Product
• Smartphones, Television Sets, Monitors & Laptops, Digital Signage & Large Formal Displays, Automotive Displays, Tablets, Wearables (Smart Watches, AR HMDs, VR HMDs, Others)
• Vertical
• Consumer electronics, Automotive, Sports & Entertainment, Transportation, Retail, Hospitality & BFSI, Industrial, Education, HealthCare, Aerospace & Defense, Others

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High Usage of LED Displays in Applications for Providing Higher Resolutions to Promote Growth

LED technologies have started utilizing light emitting diodes as light sources so that it can develop efficient lighting and displays. It is used in many applications like mobile devices, video walls, TVs, and digital billboards it offers high resolution pictures. In recent times, LED displays have become one of the most used display methods in multiple applications. The latest development in the market was to create miniaturization of the components necessary to make a led screen. This has immensely influenced the advent of the LED screens by becoming thinner and more extended in size.

Technological Development in Display Features to Enhance Visual Clarity to Augment Growth

In the last few years, the display features have witnessed huge technological advancements that can be used for improving visual clarity, responsiveness, and functions. These innovations include higher resolutions like 4K and 8K, faster refresh rates, enhanced colour preciseness, and better viewing angle. Displays have also made technological progress by integrating high dynamic range and organic light-emitting diode panels to get better blacks and bright colors. It also has curved and flexible displays so that customers can enjoy immersive viewing experience. These developments have immensely contributed in creating displays that provide better quality image, versatility, and interactivity. It has helped them to cater to the increasing requirement of users in various industries.

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Growing Use of Smart Displays for Better Interaction to Expand the Market

The popularity of smart displays is increasing in households and businesses because they have voice and touch control. These solutions implement internet connectivity and interactive features that has changed them from passive screens to an active information center. In today's technologically driven world these gadgets offer advanced interactivity and incorporation with other smart home or IoT devices. This trend is primarily driven by the increasing acceptance of smart homes and connected devices, driving the display market.

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Augmented, Virtual and Mixed Reality Market

Digital Signage Market

Smart Display Market

Medical Display Market

Flexible Display Market 

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SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.

We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.

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SOURCE SkyQuest Technology