(MENAFN- GlobeNewsWire - Nasdaq) Vancouver, Oct. 24, 2023 (GLOBE NEWSWIRE) -- The global low power next generation display market size was USD 127.89 Million in 2022 and is expected to register a steady revenue CAGR of 6.9% during the forecast period, according to latest analysis by Emergen Research. Increasing applications in various industries, such as telecommunication, defense and solar power, and rising demand for better quality and energy-efficient displays are key factors driving market revenue growth. Provision of superior quality and lower energy consumption is rising demand for low power next generation displays by various end-use sectors, especially advertising and retail. One of the major sectors is aerospace & defense, which has a high demand for such displays. Heads-Up Displays (HUDs), navigation systems and instrument panels in aircraft cockpits along with Unmanned Aerial Vehicles (UAVs) are increasing need for low power next generation displays. In addition, rapid Research & Development (R&D) initiatives by automotive manufacturers for the implementation of innovative displays in car systems is another factor driving revenue growth of the market. For example, on 6 January 2023, LG Display, which is one of the leading innovators of display technologies, launched a cutting-edge automotive displays & solutions at CES 2023.
Manufacturers of display devices are consistently improving the performance and visual quality of displays. One widely embraced approach is the integration of Quantum-Dot (QD) technologies to satisfy the rising need for better image quality. However, high cost associated with the components and lack of availability of highly skilled technicians are key factors, which could restrain market revenue growth.
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Scope of Research
| Report Details | Outcome |
| Market Size in 2022 | USD 127.89 Million |
| CAGR (2023–2032) | 6.9% |
| Revenue Forecast To 2032 | USD 246.90 Million |
| Base Year For Estimation | 2022 |
| Historical Data | 2019-2021 |
| Forecast Period | 2023–2032 |
| Quantitative Units | Revenue in USD Million and CAGR in % from 2023 to 2032 |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered | Type, application, and region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Country Scope | U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa |
| Key Companies Profiled | DuPont, Lonza, Samsung Display, Sekisui Chemical Co., Ltd., Japan Display Inc., Premier Farnell Limited, Futaba Corporation, ASUSTeK Computer Inc., Huawei Technologies Co., Ltd., and Canon Tokki Corporation |
| Customization Scope | 10 hours of free customization and expert consultation |
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Major Companies and Competitive Landscape
The global low power next generation display market is fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective low power next generation display products. Some major players included in the global low power next generation display market report are:
DuPont Lonza Samsung Display Sekisui Chemical Co., Ltd. Japan Display Inc. Premier Farnell Limited Futaba Corporation ASUSTeK Computer Inc. Huawei Technologies Co., Ltd. Canon Tokki Corporation
Strategic Development
On 30 May 2023, OMNIVISION, which is one of the leading international provider of semiconductor solutions encompassing cutting-edge digital imaging, analog, and touch & display technologies, launched a 648p single-chip Liquid Crystal On Silicon (LCOS) panel. This innovation is intended for upcoming Augmented Reality (AR), Extended Reality (XR), and Mixed Reality (MR) glasses and head-mounted displays.
On 11 April 2023, Samsung Display and Ferrari signed a Memorandum of Understanding (MoU) at Samsung Display's Asan campus in Korea to develop a display solution for implementation in next-generation models of Ferrari. Samsung Display is expected to use its world-leading OLED technology to create an advanced automotive display solution tailored to the standards of a prestigious luxury supercar brand, thus facilitating Ferrari's smooth transition into the digital era.
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Some Key Highlights From the Report
The Organic Light-emitting Diode (OLED) segment accounted for largest revenue share in the global low power next generation display market in 2022. This is attributed to increasing adoption of OLED displays due to their application in portable medical devices, smart home controls, and consumer electronics. OLEDs offer superior quality, energy efficiency, and flexibility for innovative designs in business devices such as Point of Sale (POS) terminals and Automated Teller Machine (ATMs). The consumer electronics segment is expected to register steadily fast revenue growth rate in the global low power next generation display market during the forecast period. This is due to rising penetration of smartphones and increasing number of Augmented Reality (AR) & Virtual Reality (VR) devices and digitalization. High popularity of remote work and online learning coupled with availability of streaming services is rising demand for high quality displays with low power consumption. The Europe market is expected to account for largest revenue share in the global low power next generation display market over the forecast period due to increasing Research & Development (R&D) efforts in display technology and rising demand for OLED displays. Europe is home to various prominent automotive manufacturers, which are driven by innovations for vehicle displays and medical diagnostic equipment. In addition, green economy initiatives and rising focus on reduced carbon emissions are also expected to drive market revenue growth during the forecast period.
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Emergen Research has segmented the global low power next generation display market on the basis of type, application, and region:
Type Outlook (Revenue, USD Million; 2019-2032) Surface-conduction Electron-emitter Display (SED) Organic Light-Emitting Diode (OLED) Organic Light-Emitting Transistor (OLET) Laser Phosphor Display (LPD) Quantum Dot Display (QD-LED) Field Emission Display (FED) Others
Application Outlook (Revenue, USD Million; 2019-2032) Consumer Electronics Avionics Advertising and Public Display Automotive Home Appliance Others
Regional Outlook (Revenue, USD Million; 2019-2032) North America U.S. Canada Mexico Europe Germany France UK Italy Spain Benelux Rest of Europe Asia Pacific China India Japan South Korea Rest of APAC Latin America Brazil Rest of LATAM Middle East & Africa Saudi Arabia UAE South Africa Turkey Rest of Middle East & Africa
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