The market has witnessed significant growth in the past few years owing to factors such as technological advancements in display technologies, increasing penetration of smartphones and other consumer electronic devices, growing demand for high resolution display panels for medical, aviation and military applications. The growing prominence of interactive kiosks, digital signage and smart mirrors in retail sector is further driving the demand for advanced display technologies. Moreover, increasing focus on smarter homes equipped with smart TVs, digital assistants, and other IoT based devices is fueling the growth of the electronic display market worldwide. However, high costs associated with OLED and flexible displays along with supply chain issues due to pandemic are some of the factors challenging the market growth.
Market Dynamics:
The global electronic display market growth is driven by rise in demand for higher resolution displays, increasing penetration of interactive devices such as touchscreen smartphones and tablets, as well as the growing adoption of advanced display technologies such as OLED and flexible displays especially in consumer electronics sector. Furthermore, increasing applications of digital signage and rising prominence of wearable devices is fueling the market growth. However, high costs associated with newer display technologies and supply chain disruptions amid pandemic are some of the major factors restraining the market growth. On the other hand, growing focus on the development of micro-LED displays as an alternative to OLED displays is expected to present lucrative opportunities for players in the coming years.
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