Flat display panel is a display screen used for displaying the information in form of picture, video, text, and others. It widely provides direct interface between human & machine interactions. The use of such flat display panels are now being used over various equipments, such as smartphone, TV, tablets, PCs, and others. The technology based Innovations in display based technologies now started focusing towards reducing harmful effects towards health challenges of end user. The technological based advancements in flat display panel have further enhanced the viewing experience of user, also consuming less energy and heat. The increase in demand from applications such as automotive, coupled with technological advancements and government initiatives such as smart cities have further led to a positive impact on the growth of global display panel market globally.
As per analysis, “Global Flat Display Panel Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use” the key companies operating in the global flat display panel market include Omnivex Corporation, ADFLOW Networks Inc., NEC Display Solutions Ltd., Samsung Electronics Co., Ltd., AU Optronics Corporation, Panasonic Corporation, LG Display Co., Ltd., Sony Corporation, Planar Systems, Inc., Sharp Corporation and among others. Growth in participation by the renowned players in the form of increased research & development (R&D) budgets for the launch of new & enhanced products coupled with rising investments in new manufacturing facilities with an aim to meet the increasing consumer demand and gain a competitive edge in the global market also shows the potential for the growth of flat display panel market in the given time frame.
By type, flat display panel market is segregated as billboards, kiosks, signboard and menu boards. In addition, based on application, market is segmented as institutional, healthcare, commercial and infrastructural.
The flat display panel market is driven by growth in urbanization, followed by surge in demand for wearable technologies, rise in disposable income, increase in propensity of the consumer to spend on consumer electronics, rise in usage of displays for various emerging applications like digital signage across several sectors including sports, media & entertainment and growth in demand for televisions, smart-phones, and other electronic devices that comprises displays. Apart from this, high cost involved in the production of advanced display panels is a major hindering factor for market. Moreover, rise in usage of displays for emerging applications such as digital signage, vehicles, and others create significant opportunities for market.
By regional analysis, the North-America is a leading region in global flat display panel market owing to growth in adoption of advanced technologies and rise in corporate sales sector across the region. The Asia-Pacific and Europe regions are estimated to witness higher growth rate due to growth in investments by market players in new manufacturing facilities coupled with presence of strong manufacturing base in the globally emerging economies such as China and India over the forecast period. It is predicted that future of the global flat display panel market will be bright as a result of rise in demand for wearable devices such as smart-watches, smart bands, and fitness trackers among people during the forecast period.
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Ankur Gupta, Head Marketing & Communications