News

Digital display market in China to grow at 8% CAGR

April 28, 2016

The digital display market in China is projected to register a CAGR of more than 8 percent from 2016 to 2022, according to the TechSci Research report, "China Display Market By Technology, By Type, By End User, Competition Forecast and Opportunities, 2012-2022."

TechSci attributed the increase to the rising demand for consumer electronics such as smartphones, tablets, laptops, monitors, and televisions, coupled with declining prices of displays due to reducing manufacturing costs and technology advancements. Over the past few years, display technologies have undergone radical changes, resultinig in an upsurge in adoption of OLED, QDLED and EPD, according to a press release about the report. The OLED display segment is projected to emerge as the fastest growing market for displays in China during the forecast period.

Surging demand for digital signage and POS systems on account of a flourishing retail industry, rising laptop and tablet sales, a booming mobile gaming industry and an increasing mobile workforce are driving demand for display solutions in China. Samsung Display Co Ltd, LG Display Co Ltd, BOE Technology Group Co Ltd, AU Optronics Corporation, Tianma Micro-Electronics Co Ltd, and Truly Semiconductors Limited are few of the leading players operating in the Chinese display market, the report stated.

"Growing demand for energy efficiency in consumer electronics, rising manufacturing of various types of displays due to booming demand for consumer electronics in Southeast Asia, rapid growth in demand for smart wearables, especially smartwatches, fitness bands, etc., are driving display market in China. Though LCD displays dominate China display market, demand for new and innovative display technologies is projected to propel demand for OLED and QDLED technologies, especially from smartphones and televisions end user segments, over the course of next five years," said Karan Chechi, research director at TechSci Research.