NEW YORK , July 27, 2023 /PRNewswire/ -- The thin film transistor (TFT) liquid crystal display (LCD) Market is estimated to grow at a CAGR of 4.75% between 2022 and 2027. The market size is forecast to increase by USD 38.46 billion, according to Technavio – Download the Sample Report
Vendors: 15+, Including AUO Corp., BOE Technology Group Co. Ltd., E Ink Holdings Inc., FORMIKE ELECTRONIC CO. LTD., Hannstar Display Corp., HannsTouch Solution Inc., Hitachi Ltd., Innolux Corp., Japan Display Inc., LG Electronics Inc., Midas Components Ltd., Orient Display USA Corp., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., STONE Technologies, TCL Electronics Holdings Ltd., Tianma Microelectronics Co. Ltd., Truly International Holdings Ltd., Zhejiang Xinli Optoelectronic Technology Co. Ltd., and Sharp Corp. among others Lcd Computer
Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
Segments: application (television, mobile phones, monitors, and others), type (large displays, small, and medium displays), and geography (North America , APAC, Europe , South America , and Middle East and Africa )
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TFT LCD market - Vendor Insights
The growing competition in the market is compelling vendors to adopt various growth strategies, such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market's competitive landscape and offers information on several market vendors, including - AUO Corp., BOE Technology Group Co. Ltd., E Ink Holdings Inc., FORMIKE ELECTRONIC CO. LTD., Hannstar Display Corp., HannsTouch Solution Inc., Hitachi Ltd., Innolux Corp., Japan Display Inc., LG Electronics Inc., Midas Components Ltd., Orient Display USA Corp., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., STONE Technologies, TCL Electronics Holdings Ltd., Tianma Microelectronics Co. Ltd., Truly International Holdings Ltd., Zhejiang Xinli Optoelectronic Technology Co. Ltd., and Sharp Corp.
TFT LCD Market – Market Dynamics
The growing popularity of digital signage applications is a key factor driving the market growth. Digital signage has proven to be an effective tool in attracting and engaging customers, leading to increased time spent by consumers in stores. Furthermore, it has a significant impact on customer purchase behavior. The rising popularity of digital signage is due to its ability to engage the audience and display targeted content.
TFT LCDs, known for their energy efficiency, fast refresh rates, and high-definition content display, play a key role in digital signage applications. These applications find their use at airports, hotels, public places, corporate lobbies, and interactive displays in retail stores. Additionally, the market continuously sees the introduction of new products to enhance digital signage applications. Hence, these factors are expected to drive market growth during the forecast period.
The launch of new products is a major trend in the market. Continuous product launches by vendors in the market are aimed at expanding their market share. For instance, in May 2022 , BOE Technology introduced a new 95-inch OLED screen with an impressive 8K resolution and a 120 Hz refresh rate. This screen incorporates BOE's super-sized OLED oxide rear panel technology.
Furthermore, Samsung announced plans in January 2023 to launch an 89-inch LTPS TFT-based microLED TV in the third or fourth quarter of 2023. This marks Samsung's first MicroLED TV to utilize an LTPS TFT glass substrate instead of a printed circuit board, showcasing its focus on innovation. Hence, these factors are expected to drive Thin Film Transistor (TFT) Liquid Crystal Display (LCD) Market growth during the forecast period.
Risks associated with changes in the display industry are a significant challenge in the TFT LCD market. Investments in the display industry have experienced significant volatility, primarily due to display manufacturers' limited and concentrated end-user applications. Currently, smartphones and related devices extensively use TFT LCDs due to their cost structure and technical support features. The growth of the TFT LCD market is related to the demand for TFT LCDs in these devices.
Additionally, the market is influenced by the emergence of new display technologies such as OLED, LTPS, new touch panel films, flexible displays, and metal oxide, which have a significant impact on the market. For example, the expansion of manufacturing facilities in South Korea is subject to changes in economic conditions. Thus, these factors are expected to restrict the TFT LCD Market growth during the forecast period.
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What are the key data covered in this TFT LCD Market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the TFT LCD market between 2023 and 2027
Precise estimation of the size of the TFT LCD market and its contribution to the market with a focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the TFT LCD market across North America , APAC, Europe , South America , and the Middle East and Africa
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of TFT LCD market vendors
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Accelerate at a CAGR of 4.75%
North America, APAC, Europe, South America, and Middle East and Africa
US, China, Japan, South Korea, and Germany
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
AUO Corp., BOE Technology Group Co. Ltd., E Ink Holdings Inc., FORMIKE ELECTRONIC CO. LTD., Hannstar Display Corp., HannsTouch Solution Inc., Hitachi Ltd., Innolux Corp., Japan Display Inc., LG Electronics Inc., Midas Components Ltd., Orient Display USA Corp., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., STONE Technologies, TCL Electronics Holdings Ltd., Tianma Microelectronics Co. Ltd., Truly International Holdings Ltd., Zhejiang Xinli Optoelectronic Technology Co. Ltd., and Sharp Corp.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
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3.4 Market outlook: Forecast for 2022-2027
4.1 Global TFT LCD market 2017 - 2021
6.3 Television - Market size and forecast 2022-2027
6.4 Mobile phones - Market size and forecast 2022-2027
6.5 Monitors - Market size and forecast 2022-2027
6.6 Others - Market size and forecast 2022-2027
7.3 Large displays - Market size and forecast 2022-2027
7.4 Small and medium displays - Market size and forecast 2022-2027
9.3 North America - Market size and forecast 2022-2027
9.4 APAC - Market size and forecast 2022-2027
9.5 Europe - Market size and forecast 2022-2027
9.6 South America - Market size and forecast 2022-2027
9.7 Middle East and Africa - Market size and forecast 2022-2027
9.8 US - Market size and forecast 2022-2027
9.9 China - Market size and forecast 2022-2027
9.10 Japan - Market size and forecast 2022-2027
9.11 Germany - Market size and forecast 2022-2027
9.12 South Korea - Market size and forecast 2022-2027
10.3 Impact of drivers and challenges
12.4 BOE Technology Group Co. Ltd.
13.3 Currency conversion rates for US$
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