COVID-19 Impact on Display Panel Market

1
MarketsandMarkets Presents
COVID-19 Impact on Display Panel Market by
Product (PC Monitors, Tablets, Smartphones,
Wearables, Automotive Displays, TVs, and Large
Screen), Industry, and Region - Global Forecast
to 2025 Post-COVID-19, the global display panel
market is projected to grow from USD 107.0
billion in 2020 to reach USD 152.0 billion by
2025, at a CAGR of 7.3. The estimation for 2020
is down by 26 compared to the pre-COVID-19
estimate.
2
MarketsandMarkets Presents
Factors that drive the growth of the
post-COVID-19 display panel market include the
growing acceptance of the work-from-home norm,
rising focus of regional financial institutions
to design fiscal policies for keeping the display
market floating during the COVID-19 crisis,
shifting manufacturing units to less affected
regions, increasing demand for 4K and 8K displays
with the availability of UHD content, surging
adoption of OLED displays in smartphones and
rising demand for flexible display panels,
increasing investments for the construction of
new OLED and LCD panel manufacturing facilities.
The booming automotive displays industry and
increasing focus on the development of
energy-efficient, attractive, and
high-end-specification display products using
advanced technologies such as OLED and AMOLED are
the other key factors that foster the demand for
display panels.
3
MarketsandMarkets Presents
Demand for PC monitors and tablets would increase
amidst pandemic crisis during forecast
period The display panel industry for PCs,
monitors, and tablets is expected to grow at a
high CAGR from 2020 to 2025. An increase in
working from home and online activities meant a
rise in demand for products such as monitors,
laptops, and tablets. Download PDF Brochure _at_
https//www.marketsandmarkets.com/pdfdownloadNew.a
sp?id203916699 Also, several educational
institutions have embraced e-learning as a way to
bridge the gap between tutors and students/pupils
while complying with the lockdown being enforced
in most of the countries. Thus, the demand for
display panels for laptops and tablets is high,
which is boosting the revenue stream of display
manufacturers. However, its growth rate is
expected to be above the growth rate estimated
for the pre-COVID-19 market.
4
MarketsandMarkets Presents
Disruptions in supply chains due to COVID-19
outbreak has impacted demand for display panels
in North America and Europe North America and
Europe are the markets where the demand for
display panels is significantly higher due to the
adoption of products based on innovative
technologies, such as OLED. However, with the
severity of cases reported in the US and Europe,
the demand for display panels has fallen
significantly. A large number of companies in the
US procure parts and components from China.
Limited supply and high demand have increased the
costs of components, with domestic components
being priced at 30 higher than Chinese
components.
5
MarketsandMarkets Presents
The rising importance of monitoring and
controlling in the process industries for
improved efficiency, increasing demand for fuel
and power, growing need for a connected network
to maintain and monitor various equipment in
plants, and surging focus on establishing new
nuclear plants and upscaling of the existing ones
are the key driving factors for the valve
controller market. The introduction of IIoT
industry 4.0 and the need for valve replacement
and adoption of smart valves to offer improved
customer service are among the other factors
fueling the valve controller market.
6
MarketsandMarkets Presents
Healthcare is exhibited to have positive growth
in display panel market, by end-user industry,
during forecast period The healthcare industry
utilizes different types of display products,
such as embedded display devices, in medical
equipment for imaging, radiation therapy, and
angiography. This industry also demands
large-format displays and AR/VR HMDs.
Large-format displays are used in the healthcare
industry for displaying advertisements,
appointments, and other medical information. This
will increase the demand for medical displays and
large screens.
7
MarketsandMarkets Presents
Samsung Display, LG Display, BOE Technology Group
Co. Ltd., AU Optronics Corp., Innolux Corp.,
Japan Display Inc., Sharp Corp., China Star
Optoelectronics Technology, Tianma
Microelectronics Co., Ltd., and Truly
International Holdings Ltd. are a few of the
dominating players in the global display panel
market. Other companies involved in the
development of display panels include Chunghwa
Picture Tubes Ltd., HannStar Display Corporation,
Chengdu Panda Display Technology Co., Ltd, BOE
Varitronix Limited, eMagin Corporation, and Kopin
Corporation, Apple Inc., Sony Corporation, E Ink
Holdings Inc., Universal Display Corporation, and
JOLED Inc. .
8
MarketsandMarkets Presents
About MarketsandMarkets MarketsandMarkets
provides quantified B2B research on 30,000 high
growth niche opportunities/threats which will
impact 70 to 80 of worldwide companies
revenues. Currently servicing 7500 customers
worldwide including 80 of global Fortune 1000
companies as clients. Almost 75,000 top officers
across eight industries worldwide approach
MarketsandMarkets for their painpoints around
revenues decisions.
9
MarketsandMarkets Presents
MarketsandMarketss flagship competitive
intelligence and market research platform,
"Knowledgestore" connects over 200,000 markets
and entire value chains for deeper understanding
of the unmet insights along with market sizing
and forecasts of niche markets. ContactMr.
Aashish MehraMarketsandMarkets INC.630 Dundee
RoadSuite 430Northbrook, IL 60062USA
1-888-600-6441