Global Display Device Market Report 2023: Sector is Expected to Reach $195.11 Billion by 2028 at a CAGR of 4.8%

DUBLIN, May 11, 2023 /PRNewswire/ -- The "Global Display Device Market Report and Forecast 2023-2028" report has been added to  ResearchAndMarkets.com's offering.

The global display device market attained a value of USD 144.3 billion in 2022. Aided by the increasing demand for advanced display technologies and the rising adoption of smart devices worldwide, the market is projected to further grow at a CAGR of 4.8% between 2023 and 2028 to reach a value of USD 195.11 billion by 2028.

Display devices refer to output devices that present information in a visual form. These devices include monitors, televisions, smartphones, tablets, and other consumer electronics. Display devices are essential components of modern electronic systems and have a wide range of applications in various industries, including entertainment, healthcare, automotive, and education.

The rising demand for advanced display technologies is one of the primary factors driving the growth of the display device market. Consumers are increasingly seeking devices with better image quality, higher resolution, and enhanced colour accuracy. This has led to the development of innovative display technologies such as OLED, micro LED, and flexible displays, which offer improved performance compared to traditional LCDs. The rapid adoption of these advanced display technologies across various industries is fuelling the market growth.

Another key factor propelling the growth of the display device market for display device is the increasing adoption of smart devices worldwide. The widespread use of smartphones, tablets, and wearable devices has led to a surge in demand for high-quality display panels. Additionally, the growing popularity of smart TVs and the advent of 4K and 8K resolution displays have further boosted the demand for advanced display devices. The expanding gaming industry also contributes significantly to the display device market growth.

Furthermore, the growing adoption of digital signage and interactive displays in the retail, hospitality, and education sectors is driving the market growth. Digital signage solutions are being used for advertising, information dissemination, and customer engagement, while interactive displays are increasingly being used in classrooms and corporate training settings.

These trends have led to an increase in demand for high-quality display devices, further propelling the market growth. The integration of advanced display panels in vehicle infotainment systems, instrument clusters, and head-up displays has increased the demand for high-quality display devices in the automotive industry. Rising focus on energy efficiency and the development of eco-friendly display technologies are other factors positively impacting the growth of the display device market.

Market Segmentation

The market can be divided on the basis of display type, technology, application, end use, and region.

Market Breakup by Display Type:

• Flat Panel
• Flexible Panel
• Transparent Panel

Market Segmentation by Technology:

• LCD
• LED
• OLED
• E-Paper
• Others

Market Categorisation by Application:

• Television
• Smartphones and Tablets
• Smart Wearable
• PC and Laptop
• Automotive
• Digital Signage
• Others

Market Division by End Use:

• Residential
• Large Enterprises
• Small Medium Enterprises

Market Segregation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global display device companies. Some of the major key players explored in the report are as follows:

• TCL Electronics Holdings Limited
• LG Electronics Inc
• Sharp Corporation
• Toshiba Corporation
• Samsung Electronics Co., Ltd
• Japan Display Inc

For more information about this report visit https://www.researchandmarkets.com/r/7j667k

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SOURCE Research and Markets