China Display Market Research Report, 2029

LCD technology continues to dominate the CHINESE display market, with Chinese manufacturers holding the majority share, notably in the a-Si (amorphous silicon) sector, which accounts for about 55% of the market. However, their representation in the LTPS (low-temperature polycrystalline silicon) LCDs market is quite modest. Despite LCD's dominance, OLED technology is gradually gaining traction, with BOE emerging as the leading local manufacturer. This move suggests that there is a growing interest in OLED displays, which could lead to market shifts. China distinguishes out from its Asian peers due to its impressive display production capability and cost-effectiveness. Its manufacturing capabilities have enabled it to dominate the market and outperform other regional businesses. However, when it comes to high-end OLED technology, South Korea, represented by industry titans such as Samsung and LG, maintains a large lead. South Korean firms have positioned themselves at the forefront of the market because to their knowledge and innovation in OLED technology, particularly when it comes to providing premium display solutions. According to the research report “ China Display Market Research Report, 2029," published by Actual Market Research, the China Display market is expected to grow at more than 7% from 2024 to 2029. Demand for smart screens is on the riseThis spike reflects an increasing preference for interactive displays that incorporate artificial intelligence capabilities. Manufacturers are concentrating on building larger displays, with sizes reaching up to 110 inches, to meet consumers' evolving expectations. Furthermore, curved screens are gaining prominence, particularly in automobile applications where they enhance immersive experiences. Furthermore, directional sound technology is being integrated into screens, which improves auditory experiences and increases user engagement. Several factors contribute to the growth of China's display sector. An increase in home demand for televisions, cellphones, and smart devices serves as a powerful driver. Furthermore, government funding for technological improvements in the display sector contributes to the industry's upward trajectory. However, the landscape is not without its obstacles. Intense competition, fluctuating raw material prices, and reliance on foreign technology for high-end displays all provide significant challenges for manufacturers. Nonetheless, the government actively promotes domestic production with subsidies and tax advantages, creating a favourable climate for industrial participants.

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The display market can be segmented based on various factors, including panel size, display type, display technology, application, and industrial vertical. In terms of panel size, displays can range from microdisplays, which are small and often used in devices like VR headsets and smart glasses, to large panels, which are expansive screens utilised in settings such as conference rooms and outdoor advertising displays. Display types encompass flat panel displays, flexible panel displays, and transparent panel displays, each offering distinct features and applications. Display technology further diversifies the market, with options like LCD, OLED, Micro-LED, and Direct-View LED, each providing unique advantages in terms of image quality, energy efficiency, and durability. Application-wise, displays find use in smartphones, tablets, TVs, digital signage, PCs, laptops, vehicle displays, and more, catering to a wide range of consumer and commercial needs. Finally, industrial verticals such as consumer electronics, retail, BFSI, healthcare, automotive, and military and defence drive demand for displays tailored to specific requirements within each sector. By segmenting the display market along these lines, manufacturers and stakeholders can better understand the diverse needs of consumers and industries, enabling targeted product development and marketing strategies to meet evolving demands and preferences. Demand for high-resolution, flexible displays is increasing across numerous industries, particularly in automotive and augmented/virtual reality (AR/VR) applications. These displays provide increased visual experiences and versatility, meeting the changing needs of numerous industries. Events like CES Asia provide important forums for firms to showcase their latest developments and form partnerships in the fast expanding display technology sector. With a focus on cutting-edge breakthroughs, these events encourage knowledge sharing and collaboration among industry leaders, resulting in future advancements of display technology. China, with its strong display industry cluster, stands out as a centre for research and collaboration, creating an atmosphere conducive to technological advances and market expansion. The display industry has a wide range of price points to accommodate consumers with different budgets and preferences. From low-cost options to high-end offerings, the average selling price (ASP) of displays varies depending on display type, size, and features. This segmentation enables businesses to successfully target distinct consumer niches, providing personalised products to fulfil a variety of needs. As technology advances, the market sees advancements in display types and functionalities, which diversifies pricing tactics and segmentation techniques. Chinese manufacturers have made tremendous progress in grabbing market share, particularly in automotive displays, where they held almost 45% in the first half of 2023. This highlights China's expanding influence and competitiveness in the global display business, which is driven by ongoing innovation and strategic investments. Furthermore, Chinese businesses have demonstrated their leadership in display technology at major events such as CES 2024, emphasising their dedication to pushing the boundaries of innovation and determining the industry's future on a worldwide scale. While China's display sector is booming, raw material supply remains an issue. Certain crucial elements used in display production are imported, leaving China subject to price swings and supply chain interruptions. To mitigate this danger, the government has initiated programs to boost domestic raw material production, with the goal of reducing dependence on foreign supplies. China aims to stabilise its supply chain and maintain stability in the face of global market changes by strengthening domestic capabilities. The COVID-19 epidemic brought both obstacles and possibilities to the display industry. Initially, interruptions in production and supply chains were felt all over the world, including China and other key manufacturing hubs. However, the long-term impact has been more favourable, with the epidemic driving up demand for consumer gadgets. As remote work, virtual communication, and entertainment consumption increased, so did the demand for displays. This increasing demand has fueled additional production and innovation in the display sector, signalling a bright future for the industry despite initial obstacles imposed by the pandemic.

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Kripa Shah

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Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Display market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Panel Size • Micro displays • Small & Medium-sized Panels • Large Panels

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By Display type • Flat Panel Display • flexible Panel Display • Transparent Panel Display By Display technology • LCD • OLED • Micro-LED • Direct-View LED • Others By Application • Smartphone and Tablet • Smart Wearable • Television and Digital Signage • PC and Laptop • Vehicle Display • Others By Industrial Vertical • Consumer Electronics • Retail • BFSI • Health care • Automotive • Military and defence • Others The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Display industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.