According to a new report published by Allied Market Research, titled, “Display Market," The display market size was valued at $114.90 billion in 2021, and is estimated to reach $216.3 billion by 2031, growing at a CAGR of 6.7% from 2022 to 2031.
According to display market analysis, the flat panel display segment was the highest revenue contributor to the market, in 2021, owing to wide application of flat panel display in smartphones, tablet, PCs, smart wearables, televisions & digital signage is fueling their demand.
Additionally, the OLED segment is expected to grow at the highest CAGR during the forecast period, OLED displays are widely used in several consumer electronics products such as smartphone, tablets, notebooks and PCs to consume less power. Mobile smartphones amongst these are poised to generate significant returns for market. Such varied benefits offered by OLED technology is expected to drive growth of the global OLED display market growth during the forecast period.
The outbreak of COVID-19 has significantly impacted the growth of the display sector in 2020, owing to significant impact on prime players operating in the supply chain. On the contrary, the market was principally hit by several obstacles amid the COVID-19 pandemic, such as lack of skilled workforce availability and delay or cancelation of projects due to partial or complete lockdown, globally.
Country wise, China holds a significant share in the display market, owing to the presence of prime players. Major organizations and government institutions in the country are intensely putting resources into these display these prime sectors has strengthened the growth of the display market in the region.
