Display Device Market Anticipated to Achieve US$ 230.52 Billion at 4.2% CAGR by 2034: Fact.MR Report

Rockville, Feb. 27, 2024 (GLOBE NEWSWIRE) -- As per the latest industry analysis by Fact.MR, a market research and competitive intelligence provider, the global Display Device Market, estimated at US$ 153.12 billion in 2024, is forecasted to expand at a CAGR of 4.2% from 2024 to 2034. A system for the tactile or visual display of data is called a display device.

The display is referred to as an electronic display when the received input data has an electric signal. Electronic visual displays are widely used in applications such as TV sets and device control. To draw in customers, smartphone manufacturers intend to integrate flexible OLED screens. In addition, energy-saving gadgets, mostly wearables, are also in high demand across the world.

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Key Segments of Display Device Market Research Report       

Advancements in technology have made it possible to visualize data more effectively across several industries, such as retail, consumer electronics, sports & entertainment, and transportation. In the fields of entertainment and consumer electronics, 3D displays are popular. Furthermore, flexible display technologies are rapidly gaining prominence. The significance of display technologies like OLEDs has grown in products such as smartphones, wearables, televisions, and various other devices.

Key Takeaways from Market Study

• In 2024, the global display device market is estimated to be valued at US$ 153.12 billion.
• From 2024 to 2034, demand for display devices is forecasted to increase at a CAGR of 4.2%.
• By the end of 2034, the global market is projected to reach US$ 230.52 billion.
• Through 2034, the East Asian market is forecasted to expand at a CAGR of 5.1%.
• Over the next 10 years, demand for display devices in the residential sector is forecasted to rise at a CAGR of 5%.
• By 2034, North America is projected to account for 26.4% share of the global market.

“Primary factor propelling the display device market expansion is the significant increase in the use of many consumer electronics items utilizing cutting-edge technologies. The growing need for high-quality displays, such as OLED-based screens, in the gaming and entertainment sectors is driving market expansion,” says a Fact.MR analyst.

Increasing Demand for Digital Product and Service Promotion

Rising demand for digital product and service promotion to capture the target audience's attention is one of the main factors driving the growth of the display device market. Technological advancements, the rise in demand for OLED-based products, and the appearance of smart wearable devices are all driving key drivers.

New applications in flexible display technologies are also projected to present significant growth opportunities for market players. The global display device market is evolving due to progress in flexible displays, heightened demand for OLED display devices, and the increasing acceptance of touch-based devices. The high prices of cutting-edge display technologies, such as quantum dot and transparent displays, are obstacles to market expansion.

• Samsung Electronics Co., Ltd. created the first touch-integrated OLED display in history in January 2023. The company moved from employing plastic touch film to touch-integrated screens. Samsung invented On-Cell Touch AMOLED (OCTA) technology, which does away with the need for separate touch screen panels by integrating the touch sensor right into the panel.

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Advancements in Automated Embedded Display Technology: Driving Industry Growth in the United States

In the United States, there's a significant surge in research and development efforts aimed at enhancing automated embedded display technology, accompanied by a notable increase in corporate investments in this sector. As a result, various industries, including healthcare, automotive, industrial, and defense, are witnessing a rise in the adoption of display devices.

From laptops and cellphones to small and medium business monitors, companies across the nation are manufacturing a wide range of display devices. These include giant screens tailored for commercial applications and OLED panels utilized in Apple smartphones and other mobile devices.

However, the availability and cost of display devices in the market may be influenced by trade laws and regulations. Factors such as trade agreements, intellectual property protection, and import/export tariffs play a crucial role in shaping competition among businesses.

Ultimately, the trajectory of the economy, encompassing corporate investments and consumer purchasing power, remains pivotal for the growth of the display device market in the United States.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the display device market for 2018 to 2023 and forecast statistics for 2024 to 2034.

The study divulges essential insights into the market based on display type (LCD, LED, OLED, AMOLED), application (TVs, mobile phones, monitors, tablets, mobile PCs, automotive), and end user (residential, large enterprises, small medium enterprises), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).

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E-paper displays Market: The E-paper displays market growth is valued at US$ 2.20 billion and expanding at a CAGR of 17.3% during the forecast period.

About Us:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.

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02/27/2024 12:00

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