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IGZO Display Market

Market Insights on IGZO Display covering sales outlook, demand forecast & up-to-date key trends

IGZO Display Market by Type, Application & Region for Forecast Period of 2022-32

IGZO Display Market Outlook

The IGZO Display Market reached US$ 2.3 Bn at the end of 2021 and is expected to surge to a market size of US$ 7.0 Bn by 2032, expanding at a CAGR of 10.8% over the 2022-2032 study period.

Estimated year (2022) Market Value

US$ 2.5 Bn

Projected year (2032) Value

US$ 7.0 Bn

CAGR% (2022-2032)

10.8%

Top 5 Vendor Market Share

Around 35%

A crystalline, translucent thin-film transistors (TFT) called IGZO is made of semiconductors like indium, germanium, oxygen and zinc. These showcases are regarded as flat panel displays and organic emitted lamp diode (OLED) panel that feature thin film transistors that are extremely efficient. Due to its capacity to get around conventional silicon technology constraints, IGZO displays are becoming increasingly popular in industries like consumer electronics.

As a result, these showcases widely used in a variety of devices, including televisions tablets, laptops, and smartphones.

amorphous silicon (a-Si) and Low-temperature polysilicon (LTPS) LCD, which together accounted for the highest market share of the smartphone laptop and displays market, dominated the market for displays. However, the IGZO technology industry has had strong growth in recent years because to its positive characteristics, including greater resolution, dependability, and power.

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2017-2021 IGZO Display Market Demand Outlook Compared to 2022-2032 Forecast

The IGZO display market is estimated to grow at 10.8% CAGR between 2022 and 2032 in comparison with 6.3% CAGR during the historical period of 2017-2021.

Miniaturization is a trend that is gaining traction across a wide range of industries, and participants in the market are working to make their goods smaller and lighter without sacrificing functionality.

Healthcare, consumer electronics, industrial, as well as automotive industries are increasingly using IGZO displays because they allow for size reduction without compromising resolution and performance, which is fueling the market's expansion.

Increasing electrons sensors application Penetrate to Fuel the IGZO Display Market Demand

The performance and efficiency of IGZO displays continuously improving, making them suitable for a variety of applications. New prospects are emerging in a number of industries thanks to IGZO display with high mobility of electrons and sensitive sensors which opens up various opportunities.

example, the development internet with things, together with the rising need for touch-sensitive like IGZO displays to support wearable devices like smartwatches and bands, are further factors that are predicted to contribute to the market's expansion.

Sudip Saha
Principal Consultant
LinkedIn
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Regional Analysis

Numerous businesses in the consumer electronics market are progressively focusing on releasing unique products in order to take advantage of the growing demand for displays devices with a high quality, power efficiency, as well as touch sensitivity in nations like India, Australia, China, and others. Due to rising internet usage and an expanding gaming population, there is a noticeable increase in the prevalence of smartphones and laptops, particularly in nations like the U.S. and Canada.

Country-wise Insights

Why the Adoption of smartphones is Increasing in the U.S?

IGZO Display Market demand in the U.S. is expected to account for nearly 17.8% share in 2022.

U.S would have smartphones, accounting for around 81% of the region's population. Multiple industrial manufacturers are seeking to release cutting-edge smartphones with cutting-edge features like 5G connectivity and IGZO screens in response to the spike in adoption of smartphones and the appearance of impending 5G technology. This is anticipated to help the IGZO display market in U.S flourish.

Huge the Opportunity for Adopt IGZO Display Market in the China

The market for IGZO display market in the China is estimated to grow at highest CAGR of 5.6% during the forecast period.

China consumer electronics company announce the launch of its initial 85-inch 8K 120Hz screen world showcase industry conferencing. The TV offers a contrast of much more over 5000:1 on its 1G1D elevated Display screen, which would be IGZO technology, and consumes 30% less electricity than TVs of a similar size. It is projected that many new product introductions would boost IGZO display sales in the following years.

Why the Demand for wearable technology is Increasing in the Germany?

The wearable technology in the Germany is expected to account for nearly 15.3% market share in 2022.

In Germany, wearable medical technology is becoming more prevalent. intriguing with potential for remote patient monitoring and home healthcare. The main propellers of growth are rising chronic diseases, technology advancements, and increased awareness of the value of fitness and a healthy lifestyle. Because new technical developments and innovations can enhance both patient populations' and the general public's quality of life, the market for wearable medical devices is expanding more quickly.

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Category-wise Insights

Why the Demand for wearable technology is Increasing in the Market?

The demand for wearable technology segment is expected to showcase highest CAGR in the coming years. This segment is forecasted to grow at a CAGR of 12.3% over the forecast period.

IGZO's product type has expanded to include a variety of consumer gadgets, including laptops and smartphones, all of which have the same cutting-edge technology display. Established manufacturers of consumer electronics have introduced a few new items, display industry for smartphones, but steadily, the industry for indium gallium zone nanoparticles technologies is gaining pace.

Why the adoption of indium gallium oxide (IGZO) is rising in healthcare sector?

The healthcare sector segment holds highest market share of US$ 25.6 Bn during the forecast period.

IGZO displays currently utilized in medical equipment to power the screens of higher healthcare equipment's touch sensors is going to be present due to which convert or forming an X-ray picture into high-resolution picture.

Multiple equipment's are going to be use at healthcare sector by IGZO displays. And also apply at various field like as an Automotive, Consumer Electronics, Industrial hence high market share.

Competitive Landscape

In order to expand into new geographic areas, strengthen their position in the market, and extend their product range, participants in the IGZO Display Market are always concentrating on upgrading current solutions, making business alliances, and releasing new products.

  • in July 2020, third-generation premium gaming smartphone from ASUS Republic of Gamers is set to launch and boasts unmatched power with the latest Snapdragon display and a sizable battery.
  • in November 2022, the world's top EMS (electronic manufacturing service) provider, Hon Hai Group, and Sharp Corporation signed a collaboration agreement to form a strategic worldwide partnership and work together in a variety of business industries.

Scope of Report

Attribute

Details

Market Value in 2022

US$ 2.5 Bn

Market CAGR 2022 to 2032

10.8%

Share of top 5 players

Around 35%

Forecast Period

2022-2032

Historical Data Available for

2017-2021

Market Analysis

USD Billion for Value

Key Regions Covered

North America, Latin America, Europe, East Asia, South Asia & Pacific and Middle East & Africa

Key Segments Covered

Type, Application, Industry and Region.

Key Companies Profiled

Report Coverage

Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

Customization & Pricing

Available upon Request

IGZO Display Market by Category

Product Type:

  • Smartphones
  • Televisions
  • Tablets
  • Laptops
  • Wearable Devices
  • Monitors
  • Wall Size Displays
  • Others

Application:

  • Automotive
  • Consumer Electronics
  • Healthcare
  • Industrial

Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

Frequently Asked Questions

The IGZO Display Market was valued at US$ 2.3 Bn in 2021 and is estimated to grow at CAGR of 10.8% during the forecast period, which will reach the market value of US$ 7.0 Bn by 2032.

The IGZO Display Market in U.S was valued at US$ 17.8Bn in 2021 and is projected to register CAGR of around 10.8% between 2022 and 2032.

The global market growth between 2021 and 2022 is around 12.9%.

The top 5 countries driving demand for IGZO Display Market include the U.S., China, Germany, India, and Japan.

Sharp Corporation, Sony Corporation, Apple Inc., Asus, Samsung Group LG Electronics, Fujitsu, AU Optronics.

By product smartphone, application healthcare segment is expected to dominate the market over the forecast period, generating a maximum revenue, by the end of 2032.

The market in last 5 years (2017 – 2021) has grown by a CAGR of 6.3%.

The smartphones segment was estimated to hold a market share of 22.3% in 2021.

The estimated market value for micro printing market for the year 2023 is US$ 2.8 Bn.

For East Asia region, the CAGR for the forecast period is estimated to be 10.2%.

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Sudip Saha
Principal Consultant
LinkedIn
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