South Korea Display Market Research Report, 2029

South Korea's display market is shifting significantly towards OLED technology, driven by consumers' rising choice for higher picture clarity, contrast, and flexibility. This movement indicates a deliberate shift toward high-value displays, which aims to increase profitability and strengthen South Korea's position in the worldwide market. South Korea's strong export performance in the display sector, with exports of almost USD 21 billion in 2022, demonstrates the industry's importance to the national economy. This strong export record demonstrates South Korean display makers' global competitiveness and capacity to address the different needs of international markets. In terms of pricing and price level segmentation, OLED displays attract a higher price than LCDs, showing the market's desire for advanced display technology. This pricing dynamic highlights the need of providing creative solutions that meet consumer expectations and market developments. Established leaders dominate the South Korean display market, owing to their large manufacturing capacities and technological knowledge. However, there is room for new entrants, particularly those providing specialised display solutions or targeting specific markets. While less prevalent, these new players have the potential to disrupt the market environment by introducing novel goods that address unique consumer requirements or preferences. According to the research report “ South Korea Display Market Research Report, 2029," published by Actual Market Research, the South Korea Display market is forecasted to value at more than USD 20 Billion by 2029. One of the key drivers of this transition is strong local demand, which is supported by top display makers like Samsung and LG. South Korea's growing consumer electronics industry offers a strong market for high-quality displays, which drives research and adoption of OLED technology. Furthermore, South Korea's dominance in display manufacture has made it a significant supplier to global tech giants such as Apple, boosting market growth and demand for OLED panels. However, this change is not without problems. China's rapid expansion of OLED production capacity poses a substantial challenge to South Korea's long-standing display industry leadership. Intense rivalry from Chinese manufacturers threatens South Korea's market share and needs ongoing innovation to remain competitive. Furthermore, the display business is vulnerable to variations in raw material prices, particularly Indium Gallium Zinc Oxide (IGZO) and rare earth elements. Price volatility in these commodities can have an influence on production costs and profitability, therefore firms must carefully manage their supply chains and manufacturing processes. To solve these issues and sustain growth, the South Korean government has established policies that encourage R&D and infrastructure development. These policies promote innovation, increase competitiveness, and help the industry migrate to high-value displays. Furthermore, strict environmental rules governing waste disposal from display manufacture need compliance measures and innovation in manufacturing processes in order to fulfil regulatory standards while preserving operational efficiency.

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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. Emerging Display Technologies offer great opportunities for South Korean enterprises, particularly in the areas of MicroLED, Quantum Dot OLED, and other next-generation breakthroughs. These improvements not only demonstrate South Korean enterprises' technological superiority, but also provide an opportunity for them to strengthen their leadership position in the worldwide display industry. By leveraging these developing technologies, Korean manufacturers can gain a competitive advantage and meet changing consumer preferences for higher-quality displays. The growing demand for premium displays represents a big opportunity for Korean producers in a variety of consumer electronics industries, including smartphones, televisions, and other digital devices. This growing demand emphasises the significance of investing in R&D to provide cutting-edge display solutions that satisfy the expectations of discerning consumers. The K-Display Exhibition is an important platform for South Korea's display industry, providing a space for presenting the most recent technology breakthroughs and promoting relationships with worldwide industry stakeholders. This significant trade expo not only promotes knowledge sharing but also plays an important role in expanding market reach and promoting innovation in the display industry. In 2021, Samsung made waves when it introduced the world's first foldable OLED panel developed exclusively for laptops. This discovery represented a huge advancement in display technology, providing consumers with an adaptable and portable computing experience. By utilising OLED technology, Samsung Display displayed its dedication to pushing the limits of display technology. Moving into 2022, LG Display made a strategic decision by declaring a significant investment in QD-OLED production. This venture aims to increase its share of the high-end TV market. Quantum Dot OLED (QD-OLED) combines two cutting-edge display technologies, promising improved colour accuracy, brightness, and energy efficiency. LG Display's decision reflected rising demand for premium display solutions. When compared to other countries in the region, South Korea faces severe competition from China, which has significantly expanded its OLED production capacity. Despite this, South Korea maintains its edge in sophisticated display technologies due to ongoing innovation and investment in R&D. Japan, on the other hand, has a strong presence in high-end LCD displays but is struggling to keep up with South Korea's advances in OLED technology. Despite these developments, South Korea's display industry is still sensitive to variations in raw material supply. While the country relies on imports for crucial production ingredients, stocks exist to prevent interruptions. However, continued attempts to diversify supply chains and invest in domestic manufacturing skills are critical to the industry's long-term viability and competitiveness.

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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.