Flat panels are touted as the future of displays. From ultramodern televisions to featherweight smartphones, flat panel displays are used in a number of products across a range of industries. According to a research conducted by Future Market Insights, the global flat panel display market will be worth US$ 135 Bn by 2020. Let’s take a look at some key drivers and trends that are anticipated to shape up the market in the near future.
What’s Driving the Flat Panel Display Market?
1. Government Support to the Industry
Government support has played a major role in the development of flat panel display technology. Governments of the U.S., Japan, and Korea have been consistently supporting the flat panel display industry. In the U.S., government support for the flat panel display industry is channelled through the Department of Defence.
2. Recovery in the Global Economy
The economic crisis of 2007-08 led to a decline in the sales of consumer electronics. As the global economy steadily recovers to its pre-recession levels, demand for consumer electronics has received a fillip. Consumers around the world have shown a renewed interest in buying consumer electronics products, and this has provided an impetus to the flat panel display market.
3. Strong Demand for Smartphones
Smartphones were once confined to developed regions, and only the well-off in developing countries could afford them. However, innovation in manufacturing technology, coupled with emergence of local and regional players has meant that smartphones have become all-pervasive in emerging economies. According to Cisco, the number of smartphone users in India grew 54% during 2014, reaching 140 million in number. On the other hand, the number of smartphone users in China is anticipated to reach 574.2 million, according to Emarketer. Strong demand for smartphones in the world’s two populous nations is anticipated to boost the flat panel display market in the near future.
Key Trends that will Shape Up Demand for Flat Panels
1. Use of Flat Panel Displays in Retail Digital Signage
Retailers around the world are looking at improving the aesthetics of their stores in order to appeal to the consumers. Digital signage has that appeal to lure consumers into knowing about offers, discounts, or other promotional material that might go unnoticed on a traditional signage, such as pamphlets and handouts.
Although commercial flat screens are expensive than consumer flat panels, more and more businesses are understanding their benefits in generating consumer interest.
Incorporation of flat panels by the retail industry is projected to be a key trend in the flat panel display market. As awareness about the positive impact of flat panels increases, more businesses are likely to incorporate them, providing opportunities for flat panel companies.
2. Incorporation of Advanced Flat Panel Displays
You have to be living under a rock if you haven’t noticed the enormous size of today’s smartphones and televisions. Gone are the days when a 5” screen smartphone was considered ‘large’. As more consumers use their smartphones to watch videos and other digital content, size has become of paramount importance.
The TV industry too is witnessing a surging demand for large screen TVs. Burgeoning demand for large-sized TVs from the burgeoning middle class in Asia Pacific is anticipated to fuel the market in the near future.
3.Demand from Automotive Sector
Cars are becoming more advanced than ever, with a multitude of entertainment features. The desire for touchscreens has permeated the automotive industry too, and a number of premium automotive companies are incorporating aesthetically-pleasing touchscreens in their offerings. Demand for bigger central informational display (CIDs) and ADAS is anticipated to fuel the flat panel display market in the near future.
Browse Full: "Flat Panel Display Market: Global Industry Analysis and Opportunity Assessment 2014 - 2020" Market Research Report at http://www.futuremarketinsights.com/reports/details/global-flat-panel-display-market
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