Global TFT LCD Panel Market to Reach US$ 250.0 Billion by 2032, Impelled by Continual Advancements in Display Technology

January 04, 2022 | Technology & Media

According to the latest report by IMARC Group, titled "TFT LCD Panel Market Report by Size (Large Size TFT-LCD Display Panel, Medium and Small Size TFT-LCD Display Panel), Technology (8th Generation, Other Generations), Application (Television, Mobile Phones, Mobile PCs, Monitors, Automotive, and Others), and Region 2024-2032," the global TFT LCD panel market reached a value of US$ 172.7 Billion in 2023. A thin-film-transistor liquid-crystal display(TFT LCD) panel is a liquid crystal display that is generally attached to a thin film transistor. It is an energy-efficient product variant that offers a superior quality viewing experience without straining the eye. Additionally, it is lightweight, less prone to reflection and provides a wider viewing angle and sharp images. Consequently, it is generally utilized in the manufacturing of numerous electronic and handheld devices. Some of the commonly available TFT LCD panels in the market include twisted nematic, in-plane switching, advanced fringe field switching, patterned vertical alignment and an advanced super view.

Global TFT LCD Panel Market Trends:

The global market is primarily driven by continual technological advancements in the display technology. This is supported by the introduction of plasma enhanced chemical vapor deposition (PECVD) technology to manufacture TFT panels that offers uniform thickness and cracking resistance to the product. Along with this, the widespread adoption of the TFT LCD panels in the production of automobiles dashboards that provide high resolution and reliability to the driver is gaining prominence across the globe. Furthermore, the increasing demand for compact-sized display panels and 4K television variants are contributing to the market growth. Moreover, the rising penetration of electronic devices, such as smartphones, tablets and laptops among the masses, is creating a positive outlook for the market. Other factors, including inflating disposable incomes of the masses, changing lifestyle patterns, and increasing investments in research and development (R&D) activities, are further projected to drive the market growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 250.0 Billion by 2032.

Market Summary:

  • On the basis of the size, the market has been bifurcated into large size TFT-LCD display panel and medium and small size TFT-LCD display panel. The large size TFT-LCD display panel presently represents the leading market segment.
  • Based on the technology, the market has been classified into 8th generation and other generations. Among these, the 8th generation currently accounts for the majority of the total market share.
  • On the basis of the application, the market has been segmented into television, mobile phones, mobile pcs, monitors, automotive and others. The television industry currently accounts for the largest market share.
  • Based on the region, the market has been divided into North America, Asia Pacific, Europe, the Middle East and Africa and Latin America. Among these, North America holds the leading market position.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include LG Electronics, Inc., Samsung Electronics Co., Ltd, Innolux Corporation, AU Optronics Corp. and Sharp Corporation.

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Global TFT LCD Panel Market to Reach US$ 250.0 Billion by 2032, Impelled by Continual Advancements in Display Technology
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