Electronic Display Market size was valued at USD 313.5 billion in 2014 and is anticipated to reach USD 733.7 billion by 2022. Global electronic display market is expected to experience a lucrative growth on account of increasing applications of display technologies in numerous electronic systems. Technological innovations, extension of consumer electronics industry and rising applications in numerous end-use segments are anticipated to fuel the market growth.
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The key driving factors responsible for the growth of Electronic Display market :
The product market has been observed to experience a significant growth in the past few years in light of numerous technological innovations. The development of advanced consumer electronics includes tablets, smartphones, smart televisions and smart wearable’s is anticipated to fuel the market over the forecast period. In addition, rising buying power across the globe is open new opportunities for the growth of the industry. Manufacturers are bound to follow regulations including the restriction of hazardous substances (RoHS) and waste electronics and electrical equipment (WEEE) standards.
The rising trend of AMOLED and OLED in consumer electronic devices on account of technological innovations on high resolution display technology is expected to positively influence the product market. Conversely, the implementation of innovative technologies includes initial costs to be high causing an increase in the cost of the device which is expected to act as a restraint for the growth of product demand.
In the past few years the LCD displays are observed to have dominated the market. The segment captured more than 35% of the total industry revenue share on account of the increasing usage in consumer electronics devices including personal computers and TVs. Advanced OLED and LED display technologies are expected to gain popularity on account of high operational suitability and reliability towards numerous applications.
In digital signage applications these electronic technologies are broadly used which in turn is expected to broaden the scope of the product’s success. The trend is observed to be shifting by the manufacturers from rigid OLED displays to flexible AMOLED displays to on account of differentiating their product from rigid LCD. Display forms an important element in a wide variety of consumer electronic devices and act as an interface between the user and the device. Consumer electronics application segment captured over 50% of the overall market share in 2014 and is anticipated to have a lucrative growth over the next eight years.
Major developments include advanced digital signage 2.0 which displays data are being broadly used in the retailing industry. Advanced electronic displays are widely being used in end-use segments including corporate, entertainment, retail, healthcare and government. Approximately 30% of the overall revenue in 2014 was accounted by the entertainment end-use segment. Additionally, increasing use of digital signage in the retailing industry coupled with the surging adoption of modern the e-commerce retailing has made it the fastest growing application segment in the industry.
The global electronic displays industry is observed to be dominated by the Asia Pacific market amounting for over 140 billion in 2014. Less stringent government norms coupled with lower manufacturing costs in the region has led the technology giants to set manufacturing hub in the region, therefore fuelling the industry growth. North America is expected to witness a lucrative growth over the upcoming years on account of improved lifestyle and high disposable incomes of the population is anticipated to accelerate the demand for display based applications.
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