The smartphone display market 2020 can gain considerable ground at a rate of 8% between 2017 and 2023 (review period), anticipates Market Research Future (MRFR). It is also projected to reach a striking valuation of USD 8 BN by 2023-end, adds MRFR.
Market Drivers and Key Restraints
Over the past decade, smart phones have gained a huge customer base across the world. In today’s technologically advanced world, displays don’t only show basic things like the caller’s phone number but also act as an infotainment screen. The smartphone display is one of the main features that draw in the customer’s attention while buying the mobile device. Display also plays a significant role in the hardware segment of smartphones.
The main growth boosters in the smartphone display market include the increasing sale of smartphones across the globe. The market notes high number of research and development activities by leading vendors, to enhance the product quality and attract a higher number of consumers. These players are also focused on developing new and better quality products, which helps them establish themselves further in the market. To cite a reference, Samsung launched an unbreakable and bendable screen for smartphones, which makes of plastic rather than glass. This makes it resistant to cracking or shattering. Xiaomi and Vivo have been among the first few smart phones that were launched with this type of display.
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That being said, the generally high price of displays can be a significant factor that can hold back the market growth to some extent. On a brighter note, the rising use of high definition or HD displays in smartphones can emerge as one of the top trends, leading to incredible business growth in the approaching years.
Type, display technology, size and resolution are the primary segments depending on which the market for smartphone display has been broadly covered in the report.
The various types of smartphone display are capacitive, as well as resistive display screens.
In terms of display technology, the market segments are IPS-LCD, TFT-LCD, AMOLED, OLED, and more.
The size-wise market segmentation covers 5–6 inches, 4–5 inches, 0–4 inches, as well as above 6 inches
Resolution-based segments outlined are 1920 x 1080, 720 x 1280, and others.
The geographical distribution of the smartphone display market consists of North America, Asia Pacific (APAC), Europe, along with Rest of the World (RoW).
There is a strong possibility of APAC clinching the lead in the global market, given the large number of smartphone display companies based in the region. Some of the most renowned manufacturers in the region are LG Display, Samsung, Sharp, BOE and Japan Display, to name a few. With the aim to bridge the gap between supply and demand, smartphone display manufacturers are focusing on setting up new plants in the region to cater to more smartphone makers. For example, top manufacturers in China like BOE and China Star Optoelectronics Technology have established new plants to mass produce OLED panels, mainly to catch up with Samsung Electronics (South Korea). In a nutshell, the stiff competition between the renowned vendors and the increasing appetite of smartphones consumers in the region can translate to remarkable market landscape in the following years.
The North American market is not far behind, thanks to the high concentration of highly acclaimed companies, namely Google and Apple Inc., and more. The rampant demand in the region for high-end smartphones rather than low-end and mid-range smartphones are some of the chief growth inducers in the industry. An increasing number of manufacturers are developing advanced models with premium attributes such as back cameras or multi-lens front, and bezel-less displays. These types of technological innovations and advancements are considered to be instrumental in the market growth within the region.
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Prominent contenders that are striving to get a bigger share in the market include Sony Corporation (Japan), LG Electronics Inc. (South Korea), SAMSUNG (South Korea), Fujitsu Ltd. (Japan), Toshiba Corporation (Japan), Motorola Inc. (US), Sharp Corporation (Japan), Apple Inc. (US), Japan Display Inc.(Japan), Mitsubishi Electric Corporation (Japan), and others.
Some other companies also operating in the market are Tianma Microelectronics (China), NEC Corporation (Japan), Chi Mei Corporation (Taiwan), AU Optronics Corp. (Taiwan), BOE Technology Group Company (China), to list a few.
Latest Update in Smartphone Display Market
LG is soon to launch a smartphone called Style 3, which has an OLED FullVision display as well as QHD+ resolution. This display offers better refresh rates, brings down the response time considerably, that too while consuming less power.
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