Market Leadership - Display Market

The global display market size was valued at USD 148.4 billion in 2021 and is projected to reach USD 177.1 billion by 2026. It is expected to grow at a CAGR of 3.6% during the forecast period. Surging adoption of OLED displays in various applications, increasing use of LED displays for video wall, TVs, and digital signage applications, growing demand for interactive displays in various applications, and rising demand for display-based medical equipment, including ventilators and respirators, due to COVID-19 pandemic are the key driving factors for the display market.

The display market comprises major players such as Samsung Electronics (South Korea), LG Display (South Korea), Sharp (Foxconn) (Japan), Japan Display (Japan), Innolux (Taiwan), NEC Corporation (Japan), Panasonic Corporation (Japan), Leyard Optoelectronic (Planar) (China), BOE Technology (China), AU Optronics (Taiwan), and Sony (Japan). These top players have strong portfolios of display products and presence in both mature and emerging markets.

Samsung Electronics is a leading developer and manufacturer of electronics and computer peripherals. The company operates through four business segments, namely, Consumer Electronics (CE), Information Technology & Mobile Communications (IM), and Device Solutions (DS), which comprises semiconductor, DP, and Harman. The consumer electronics (CE) segment comprises cable television, monitor, printer, air-conditioners, refrigerators, washing machines, and medical devices, whereas information technology & mobile communications (IM) comprises handheld products, communication systems, computers, and digital cameras. The device solutions business division comprises memory systems, large-scale integrated circuits, and light emitting diode. The Display Panels division designs and manufactures LED-LCD, QD-LCD, and OLED display panels. The Consumer Electronics (CE) and IT & Mobile Communications (IM) divisions fall under Samsung Research, which is the advanced research and development (R&D) hub of Samsung Electronics. The hub leads the development of future technologies with more than 10,000 researchers and developers working in overseas R&D centers.

Samsung maintained its leading position in the TFT-LCD flat panel display market in the past; it has consistently introduced products with high resolution, low power consumption, low cost, and high yield rate. With the demand for OLED displays having grown rapidly, the company has captured a majority of the market owing to its technological expertise and quick expansion of production capabilities. It is focused on developing display solutions for evolving use cases such as wearable and flexible devices and automotive systems. Samsung has enhanced its smart signage product portfolio by developing all-in-one software solutions that cover customer needs, including content creation and scheduling, interactive e-board presentations, and in-house hotel media management.

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LG Display is a leading player in the LCD display segment. It has expanded its manufacturing capabilities in recent years by installing new manufacturing plants for LCD and OLED panels. Recently, the company set up a new development center in China. LG Display offers a wide range of display panels for televisions, smartphones, tablets, desktop computers, automobiles, and smart wearables. It is focused on offering cost-competitive display products and maintains stable and long-term relationships with its customers. The company is more focused on the development of automotive OLED display panels for autonomous cars.

LG Display has the largest global market share for large-size TFT-LCD panels. It uses technologies such as film-type patterned retarder (FPR), advanced high-performance in-plane switching (AH-IPS), and organic light-emitting diode (OLED) to develop display panels. The company manufactures display panels for televisions, desktop monitors, notebook computers, tablet computers, mobile, and other applications (industrial, entertainment systems, automobiles, portable navigation devices, medical diagnostic equipment, etc.). It undertakes continuous research & development and investment in next-generation displays such as flexible and transparent displays.

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