Smartphone Display Market Analysis of Current Industry Figures with Growth Forecast by 2032
Research Reports
May 14, 2024
Smartphone Display Market Insights:
Smartphone Display Market Size was valued at USD 63.4 Billion in 2023. The Smartphone Display market industry is projected to grow from USD 64.5 Billion in 2024 to USD 129.3 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.10% during the forecast period (2024 – 2032). Human-system interaction adoption, awareness of new technology, smartphone screen advancements, and global disposable income growth are all on the rise, are the key market drivers enhancing the market growth.
In today’s hyper-connected world, smartphones have become an indispensable part of our daily lives. From communication to entertainment, productivity to navigation, these pocket-sized devices have revolutionized the way we interact with the world. At the heart of every smartphone lies its display, a crucial component that not only defines the user experience but also drives innovation and competition within the industry. The smartphone display market, therefore, is a dynamic and rapidly evolving landscape, shaped by technological advancements, consumer preferences, and market forces.
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Key Players:
- SAMSUNG
- Japan Display Inc.
- Toshiba Corporation
- LG Electronics Inc.
- Sharp Corporation
- Fujitsu Ltd.
- Sony Corporation
- Apple Inc.
- Motorola Inc.
- Mitsubishi Electric Corporation,
are the notable vendors in the Smartphone Display Market.
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Smartphone Display Market Regional Analysis:
The geographical distribution of the smartphone display market consists of North America, Asia Pacific (APAC), Europe, along with Rest of the World (RoW).
There is a strong possibility of APAC clinching the lead in the global market, given the large number of smartphone display companies based in the region. Some of the most renowned manufacturers in the region are LG Display, Samsung, Sharp, BOE and Japan Display, to name a few. With the aim to bridge the gap between supply and demand, smartphone display manufacturers are focusing on setting up new plants in the region to cater to more smartphone makers. For example, top manufacturers in China like BOE and China Star Optoelectronics Technology have established new plants to mass produce OLED panels, mainly to catch up with Samsung Electronics (South Korea). In a nutshell, the stiff competition between the renowned vendors and the increasing appetite of smartphones consumers in the region can translate to remarkable market landscape in the following years.
The North American market is not far behind, thanks to the high concentration of highly acclaimed companies, namely Google and Apple Inc., and more. The rampant demand in the region for high-end smartphones rather than low-end and mid-range smartphones are some of the chief growth inducers in the industry. An increasing number of manufacturers are developing advanced models with premium attributes such as back cameras or multi-lens front, and bezel-less displays. These types of technological innovations and advancements are considered to be instrumental in the market growth within the region.
Smartphone Display Market Segmentation:
Type, display technology, size and resolution are the primary segments depending on which the market for smartphone display has been broadly covered in the report.
The various types of smartphone display are capacitive, as well as resistive display screens.
In terms of display technology, the market segments are IPS-LCD, TFT-LCD, AMOLED, OLED, and more.
The size-wise market segmentation covers 5–6 inches, 4–5 inches, 0–4 inches, as well as above 6 inches
Resolution-based segments outlined are 1920 x 1080, 720 x 1280, and others.
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The smartphone display market is a dynamic and competitive landscape, driven by technological innovation, consumer demand, and market trends. From OLED and AMOLED displays to high refresh rates and foldable designs, smartphones continue to push the boundaries of what is possible in terms of visual quality and user experience.
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