Global TFT LCD Panel Market to Reach US$ 190 Billion by 2023The global TFT LCD panel market is currently witnessing a positive growth. This can be attributed to various factors which include growing popularity of LCDs, rising trend of 4K televisions and flourishing gaming industry.
A TFT LCD, also known as thin-film-transistor liquid-crystal display, is an active-matrix LCD which utilises the TFT technology for enhancing image qualities like contrast and addressability. Every pixel on a TFT LCD panel has a separate transistor present on the glass itself which offers more control on images. All the pixels on a screen are configured in a row and column format and each of them is connected to an amorphous silicon transistor. This technology provides sharp images and also consumes less power as the screen is very small in size. Moreover, TFT LCD panels are lightweight, less prone to reflection and provide wider angle of view. A new research report by IMARC Group, titled “TFT LCD Panel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the market was worth US$ 140 Billion in 2017. The report further anticipates the global TFT LCD panel market to cross US$ 190 Billion by 2023, at a projected CAGR of around 5.5% over the forecast period.
Global TFT LCD Panel Market Drivers/Constraints:
- In the recent years, LCDs have gained popularity owing to their favourable properties including less power consumption, compact size and low price in comparison to other display panels. This is one of the major factors which is driving the growth of the market.
- The increasing demand for larger and 4K televisions, fuelled by improving standards of living and inflating disposable incomes, represents another key factor for the market growth.
- Easy installation of LCD glass substrates, technological advancements along with a worldwide boost in gaming industry are some of the other factors which are positively influencing the growth of the market.
- However, the availability of alternative display panels like LED coupled with the high costs of production as well as raw materials are considered to be the few obstacles which are impeding the growth of the global TFT LCD panel market.
Size Insights:
Based on size, the market has been segmented into large size, and medium and small size TFT LCD display panels. Among these, large size TFT LCD display panels represent the largest segment, accounting for the majority of the total share.
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Application Insights:
The market has been further segregated on the basis of application which includes television, mobile phones, mobile PC, monitors and automotive. Currently, television dominates the market, holding the majority of the market share.
Regional Insights:
On a geographical front, North America enjoys a leading position in the global TFT LCD market. This is due to relatively fast adoption of new technologies as well as flourishing industrial and automotive industries across the region. North America is followed by Asia Pacific, Europe, Middle East and Africa, and Latin America.
Competitive Landscape:
The market is concentrated with the presence of few small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:
- LG
- Samsung
- INNOLUX
- AUO
- SHARP
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