The demand is increasing for LCD as LCD consumes less power than cathode ray tube. Energy consumption increases as the screen size increases still it remains significantly less than cathode ray tubes. Manufacturers of LCD are introducing new technologies like quantum dots that offer improvement over traditional LCD display.
Quantum dot technology empowers LCD to offer better color saturation, high quality image, and high brightness. High resolution LCDs are being developed for virtual reality. The demand for LCD is also increasing in smartphones as the manufacturers are adopting LCD technology to cater to the demand for high image quality and clarity.
The global flat panel display market is expected to witness a CAGR of 4.1% during the forecast period (2019-2027).
Key takeaways of flat panel display market study:
- The LCD segment is estimated to continue to hold significant market share among all segments by technology during the forecast period, as the manufacturers are introducing new technologies offering improvement over traditional LCD displays.
- Among all applications consumer electronics segment is estimated to register notable CAGR as the flat panel displays in electronics devices have competitive edge owing to increasing brightness, more pixel support resolution and reduced power consumption.
- Asia Pacific is witnessing an impressive growth rate in the flat panel display market as the government in countries such as China, India, Japan are creating opportunities for flat panel display provider by developing the education infrastructure and by adopting the flat panel display for e-learning.
Deployment FPDs is increasing across various application areas, with the retail segment leading in adoption of flat panel display. Major demand for LCD and PDP technologies is arising from the retail segment for application in flat digital signage.
Through digital signage live data, custom made motion, photography, audio, internet content can be displayed which can help the retailers to attract the customers as the digital signage is more eye-catching and memorable than static media.
Digital signage is a valuable tool for retailers because it conveys important in-store messages, advertising, and promotions directly to the customers during a critical moment while they are purchasing something, this helps the retailers to generate additional sales revenue.