Market Research Analysis Display Industry - 26022018 | Page 3

2017
LARGE FORMAT DISPLAY (LFD)
MARKET
2023
5%
7%
LED-backlit LCD
25
20
43
Direct-View LED (Fine-Pixel)
Direct-View LED (Large-Pixel)
56
OLED
14
30
Source: MarketsandMarkets Analysis on Large Format Display (LFD) Market
The report offers industry insights for LFD display types—video walls & standalone; technology— LCD,
OLED, direct-view LED (fine-pixel & large pixel), and others; display size; brightness level; application—
indoor & outdoor; and verticals. Automotive is another opportunity for panel makers; the demand from the
non-premium automotive segment will increase for LCD panels, while the demand for flexible panels will
increase from the premium segment.
OLED is the new trend in displays, thanks to the increasing demand from smartphone and smart wearable
vendors; however, the ASP of OLED panels is declining rapidly despite the fact that only South Korean players
are mass-producing OLED panels. Sustaining significant profit margin will be a huge challenge for panel
makers when various players such as BOE, Tianma, Truly, CSOT, and JOLED enter the market. Increased
competition between the players is expected to further decrease the ASP and shrink profit margins. Worldwide
demand for OLED panels is projected to reach $48.8 billion by 2023, growing at a CAGR of 15.2% between
2017 and 2023, according to Rajeev Rajput – Senior Research Analyst at MarketsandMarkets.
OLED DISPLAY PANEL DEMAND
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
2015
US
2016
China
2017
Japan
2018
South Korea
2019
2020
Taiwan
2021
Europe
2022
2023
Rest of the World
Source: MarketsandMarkets Analysis on OLED Market
Converting billion-dollar investments, made for establishing Gen 6 and above display facilities, into profit
despite declining ASPs of display panels will be a major challenge for panel markers. Chinese panel makers,
especially BOE, CSOT, and CEC Panda may lead the display market accounting for around 40% of the total
display area production (LCD+OLED) by 2022. In OLED market, Chinese players, especially Tianma, Truly,
BOE, and CSOT will further account for more than 60% display