Overview of the global large area displays market
Technavio’s market research analyst predicts the global large area displays market to grow steadily at a CAGR of around 2% by 2021. One of the primary growth drivers for this market is the rise in investments in the organic light-emitting diode (OLED) displays. OLED displays are thinner, lighter, more flexible, and emit brighter colors than the existing display technologies such as liquid crystal displays (LCDs). Curved OLED TVs and other devices that utilize this feature offer a better viewing angle to the users. OLED displays consume less power because of the presence of phosphorescent organic material, which has a good conversion rate. Owing to the above advantages, established players are investing heavily in the R&D and large scale production of the OLED technology. For instance, LG Display is the pioneer in OLED technology and has a huge portfolio of OLED TVs. The company announced to make large-scale investments to expand and build a new plant to produce OLED displays in 2015. This plant is expected to start its production by 2018, which will provide OLED displays for automotive, TVs, and wearables.
In terms of geography, APAC accounted for the maximum market share during 2016 and will continue to dominate the market for the next few years. The high concentration of display device manufacturers and LCD and OLED/AMOLED panel manufacturers in the region is the major contributor to the growth of the large area display market. China is emerging as a leading hub for large area LCD and OLED/AMOLED display manufacturers. This increasing concentration of manufacturers in the area can be attributed to the
Overview of the global retail display market
The global retail display market is anticipated to grow rapidly and will post a CAGR of close to 16% during the forecast period. The evolution of shopping as a form of entertainment will drive the growth prospects for the global retail display market for the next few years. Some of the factors responsible for this evolution includes extensive development and digitalization of retail channels. Since shopping malls and recreational centers are also considered as a form of entertainment across the globe; they are gaining traction in the market. These shopping centers have restaurants, cafes, and multiplexes, and retail stores, where the use of retail displays enhance the visibility of stores. Furthermore, the interactive or high-quality displays placed in these retail stores increase the inflow of visitors and engage a high number of consumers. It has been noted that these displays are used either for promotional activities or in-store entertainment.
In terms of geography, APAC accounts for the maximum market share in 2016 and will continue to dominate the market for the next few years. One of the major factors responsible for the market’s growth in this region is the growing expansion of international firms. Also, the growing urbanization in the region increases the rate of adoption of retail displays, which, in turn, drives the market’s growth. Furthermore, it has been observed that the adoption of video walls is increasing with the increasing retail store growth in various countries such as China, Hong Kong, India, Malaysia, and Singapore.
Competitive landscape and key vendors
The global retail display market is highly diversified and competitive due to the presence of a large number of local and international vendors. Since many local vendors enter the market with low-cost displays, they pose a stiff competition for the
Overview of the virtual retinal display (VRD) market
The VRD market is anticipated to grow at a steady rate and will post a CAGR of more than 3% during the forecast period. The numerous benefits of VRD over other display technologies will drive the growth prospects for the market during the forecast period. Some of the major advantages of VRD are identified in terms of factors such as the color range, luminance and viewing modes, contrast ratio, and power consumption. VRDs have the tendency to transmit light energy in an ideal range that allows a clear display of an image even in fluctuating environments. Also, since the VRD luminance can be controlled in the augmented model (AR), the user can view an image even outside ambient light conditions. In terms of contrast ratio, VRD brightness can be increased to high levels or decreased to minimal levels, which is not possible with conventional display technologies. Also, in terms of power consumption, the VRD technology can carry all of its generated light onto the retina, leading to a brighter display with minimum power requirements. Furthermore, as VRD has a large number of advantages such as high clarity and low power consumption over LCDs and other display technologies, its adoption across various industries is expected to increase continually.
The high scope of VRD in augmented reality (AR) devices will drive the growth prospects for the market’s growth. As AR devices integrated with VRD can produce bright images, it is more beneficial in the daylight. Another factor that drives the demand for VRD in AR devices is the application of VRD in environments with poor lighting conditions such as in mines. Furthermore, the real-world image can be electronically enhanced and can be presented better using VRD without any glare.
Competitive landscape and key vendors
The global virtual retinal display market comprises of very few
Overview of the global 3D display market
Technavio’s market research analyst predicts the global 3D display market to grow steadily at a CAGR of more than 28% during the forecast period. The penetration of 3D technology is on the rise all across the globe, as 3D display panels are being used in several applications such as in mobile handsets, tablet PCs, and in billboards for advertisements. The growing popularity of 3D video content has led to the emergence of several 3D channels over the past few years. Majority of movies made in Hollywood are in the 3D format, offering a unique experience to consumers. Also, several gaming vendors are developing 3D gaming devices, such as 3D tablet PCs, which uses autostereoscopic 3D technology. Moreover, the emergence of ultra-high-definition (UHD) TVs will also positively aid to the demand for 3D displays which offer multi-view, stereoscopic, and high picture quality.
At present, 3D displays are used in flat panel TVs, portable gaming devices, and advertisement billboards. However, there is a projected increase in 3D display applications in the coming years such as 3D smart displays, mobile handsets, displays used in the healthcare sector, notebooks, monitors, and large-sized displays. Such growing number of 3D display applications will result in the increased penetration of 3D displays and will be a prominent driving factor for the market during the forecast period. Also, several 3D device manufacturers are focusing to offer consumers with products that have extra features, such as direct-lit LED backlights, ultra-slim form factors, and
Market outlook of the large area LCD display market
Technavio’s research analyst predicts the global large area LCD display market to grow at a CAGR of 3% during the forecast period. The formation of UHD alliances is the primary growth driver for this market. During 2015, supply chain members of the global UHD TV market announced the formation of the UHD Alliance to support innovative technologies including 4K and higher resolution, high dynamic range, immersive 3D audio, and wider color gamut.
The decline in ASP of the LCD panel is expected to boost the market growth during the forecast period. During 2014, per meter square, ASP of LCD panel was $472, which declined to $416 during 2015. Vendors reduced the ASP to reduce excess inventory. The declining per square meter ASP of LCD panel drove the shipment of LCD display in terms of area.
Product segmentation and analysis of the large area LCD display market
During 2015, the TV segment dominated the large area LCD display market with a market share of 38%. The primary reason for the growth of this product segment was the strong demand for 4K TVs of 40 inches and larger screen size. During 2015, several manufacturers introduced 4K TVs ranging from 50 inches and above.
Geographical segmentation and analysis of the large area LCD display market
During 2015, APAC accounted for 81% of the market share and is expected to grow at a CAGR of 1% during the forecast period. The high concentration of display device manufacturers and LCD panel manufacturers in this region are the primary growth
Outlook of the global heads-up display market
Technavio’s market research analyst predicts the global heads-up display market to grow steadily at a CAGR of around 40% in terms of unit shipment during the forecast period. The emergence of augmented reality (AR) is the primary growth driver for this market. AR is an emerging technology that permits the overlay of computer graphics into the real world. AR generates a comprehensive view, which is a combination of the real scene viewed by end users and an augmented, computer-generated virtual scene with additional information. In the automotive sector, AR heads-up displays present a virtual image of the road, thus, ensuring a safer driving experience. In the aviation sector, heads-up displays are helpful for both military and civil aircrafts and helicopters, as they offer features like the large angle of attack, flight path vector and acceleration cues, target altitude and speed, flashing markers, flight director, and flight path reference cue for landing.
The increased funding for military modernization programs in APAC and the Middle East is expected to boost the prospects for market growth during the forecast period. For instance, in 2015, India announced an investment of $25 billion for the purchase of 127 fifth-generation stealth fighter aircraft from Russia. This will increase the fitment rate of heads-up displays in technologically advanced aircraft and helicopters, which in turn will impel market growth in this market.
Segmentation by end-users and analysis of the heads-up display market
- Civil aviation
- Military aviation
In terms of unit shipments, the automotive application segment dominated this market and accounted for a market share of around 99% in 2015. One of the major reasons for this segment’s growth is
In terms of technology and application, there has been a gradual transition in the display sector. Displays are now being used across industry verticals and their inherent advantages make next-generation displays ideal for applications like advertising and human-machine interfaces and products like smartphones and smart watches.
Energy efficiency, resolution, and display size are all key elements that influence the rate and pattern of adoption of this technology across industries.