5/28/2023 0 Comments Displays panelThe thin structure and complicated process of making display panels makes it difficult for the manufacturers to get maximum profit as there are high chances of damaging the display panels, which is predicted to hinder the market growth in the forecast period. Higher cost involved in manufacturing the display panel is considered to be the major restraint for the market in the forecast period. High cost of production is predicted to be the biggest restraint for the display panel market For instance, television sets are used to monitor the operational flow in manufacturing units, which is predicted to increase the demand of the display panels. Moreover, increasing use of electronic devices from various end use industry for various operational work is predicted to boost the display panel market in the forecast period. In addition, many manufacturers are focusing on producing OLEDs and LED screens that provide ultrahigh definition with improved picture quality and color saturation, which is predicted to be the major driving factor for the display panel market in the forecast period. Increase in the demand among the consumer of various electronic devices such as smartphone, television, computer monitor, laptops, and smart watches is predicted to be the major factor to drive the market in the forecast period. Increasing demand of various electronic devices is predicted to drive the display panel market But with the span of time once the unlock procedure starts there will be a steep rise in the market in terms of revenue. As it has been noticed that the due to shut down most of the manufacturing sites have been closed which have impacted negatively to the market during pandemic. The work from home culture and rise in the demand of smart phones are predicted to drive the market during the pandemic. The COVID-19 pandemic has created a positive impact on the global display panel market. COVID-19 Impact on the Global Display Panel Market The most common applications of display panels are in television sets, computer monitors, smartphone screens. The display panels available at present are used in the manufacturing of LED and OLED screens, as these screens are suited with high mobility electronic equipment. Display panels are used to show information in a form of picture, video, or text. With the help of vertical surface it displays all the necessary information. Market AnalysisĪ display panel is an output device which displays the information in a visual form. Display panels are expensive, which is the biggest restraint for the overall market in the forecast period. Increasing demand for OLED display in various electronic devices like smartphone, television, laptop screen and many more is predicted to drive the market in the forecast period. Asia-Pacific market accounted for $19,306.6 million in 2019 and is predicted to rise with a CAGR of 12.5% in the forecast period. Display panel market accounted for $52,151.8 million in 2019 and is predicted to grow at a CAGR of 10.5% in the forecast period by generating a revenue of $1,19,339.1 million by 2027.
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