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Jul 19, 2023

The Thin Film Transistor (TFT) Liquid Crystal Display (LCD) Market to grow at a CAGR of 4.75% from 2022 to 2027

News provided by 27 Jul, 2023, 00:00 ET Share this article NEW YORK, July 27, 2023 /PRNewswire/ -- The thin film transistor (TFT) liquid crystal display (LCD) Market is estimated to grow at a CAGR of

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27 Jul, 2023, 00:00 ET

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NEW YORK, July 27, 2023 /PRNewswire/ -- The thin film transistor (TFT) liquid crystal display (LCD) Market is estimated to grow at a CAGR of 4.75% between 2022 and 2027. The market size is forecast to increase by USD 38.46 billion, according to Technavio – Download the Sample Report

TFT LCD market Insights -

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TFT LCD market - Vendor Insights

The growing competition in the market is compelling vendors to adopt various growth strategies, such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market's competitive landscape and offers information on several market vendors, including - AUO Corp., BOE Technology Group Co. Ltd., E Ink Holdings Inc., FORMIKE ELECTRONIC CO. LTD., Hannstar Display Corp., HannsTouch Solution Inc., Hitachi Ltd., Innolux Corp., Japan Display Inc., LG Electronics Inc., Midas Components Ltd., Orient Display USA Corp., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., STONE Technologies, TCL Electronics Holdings Ltd., Tianma Microelectronics Co. Ltd., Truly International Holdings Ltd., Zhejiang Xinli Optoelectronic Technology Co. Ltd., and Sharp Corp.

TFT LCD Market – Market Dynamics

Key Drivers

The growing popularity of digital signage applications is a key factor driving the market growth. Digital signage has proven to be an effective tool in attracting and engaging customers, leading to increased time spent by consumers in stores. Furthermore, it has a significant impact on customer purchase behavior. The rising popularity of digital signage is due to its ability to engage the audience and display targeted content.

TFT LCDs, known for their energy efficiency, fast refresh rates, and high-definition content display, play a key role in digital signage applications. These applications find their use at airports, hotels, public places, corporate lobbies, and interactive displays in retail stores. Additionally, the market continuously sees the introduction of new products to enhance digital signage applications. Hence, these factors are expected to drive market growth during the forecast period.

Major Trends

The launch of new products is a major trend in the market. Continuous product launches by vendors in the market are aimed at expanding their market share. For instance, in May 2022, BOE Technology introduced a new 95-inch OLED screen with an impressive 8K resolution and a 120 Hz refresh rate. This screen incorporates BOE's super-sized OLED oxide rear panel technology.

Furthermore, Samsung announced plans in January 2023 to launch an 89-inch LTPS TFT-based microLED TV in the third or fourth quarter of 2023. This marks Samsung's first MicroLED TV to utilize an LTPS TFT glass substrate instead of a printed circuit board, showcasing its focus on innovation. Hence, these factors are expected to drive Thin Film Transistor (TFT) Liquid Crystal Display (LCD) Market growth during the forecast period.

Significant Challenges

Risks associated with changes in the display industry are a significant challenge in the TFT LCD market. Investments in the display industry have experienced significant volatility, primarily due to display manufacturers' limited and concentrated end-user applications. Currently, smartphones and related devices extensively use TFT LCDs due to their cost structure and technical support features. The growth of the TFT LCD market is related to the demand for TFT LCDs in these devices.

Additionally, the market is influenced by the emergence of new display technologies such as OLED, LTPS, new touch panel films, flexible displays, and metal oxide, which have a significant impact on the market. For example, the expansion of manufacturing facilities in South Korea is subject to changes in economic conditions. Thus, these factors are expected to restrict the TFT LCD Market growth during the forecast period.

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The TFT LCD market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as prospects.

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TFT LCD Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 4.75%

Market growth 2023-2027

USD 38.46 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

4.12

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 32%

Key countries

US, China, Japan, South Korea, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

AUO Corp., BOE Technology Group Co. Ltd., E Ink Holdings Inc., FORMIKE ELECTRONIC CO. LTD., Hannstar Display Corp., HannsTouch Solution Inc., Hitachi Ltd., Innolux Corp., Japan Display Inc., LG Electronics Inc., Midas Components Ltd., Orient Display USA Corp., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., STONE Technologies, TCL Electronics Holdings Ltd., Tianma Microelectronics Co. Ltd., Truly International Holdings Ltd., Zhejiang Xinli Optoelectronic Technology Co. Ltd., and Sharp Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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