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.
| Attributes | Details |
|---|---|
| Estimated year (2022) Market Value | US$ 2.5 Billion |
| Projected year (2032) Value | US$ 7.0 Billion |
| CAGR% (2022 to 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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
| Attribute | Details |
|---|---|
| Market Value in 2022 | US$ 2.5 Billion |
| Market CAGR 2022 to 2032 | 10.8% |
| Share of top 5 players | Around 35% |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 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 | Sharp Corporation; Sony Corporation; Apple Inc.; Asus; LG Electronics; Fujitsu; AU Optronics; Samsung Electronics; American Elements; Green House Gaming |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
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.
Industrial segment has the CAGR of 13.4% for the forecast period.
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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IGZO Display Market
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