(MENAFN- GetNews) Global TFT-LCD Display Panels Market is expected to grow steadily at a CAGR of 5.8% during the forecast period 2021-2026
New Market Research Expert Report titled “Global TFT-LCD Display Panel Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026” Gives In-Depth Analysis of Global TFT-LCD Display Panel Market , evaluating the market based on its segments such as size, application, and major regions like North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa. The report follows the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on Porter’s SWOT and Five Forces models.
Note 1: For an overview of primary and secondary market data (2016-2026), along with business strategies and detailed market segmentation, please click on the sample demand report. The sample report will be delivered to you within 24 hours.
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The main highlights of the report include:
Market Overview (2021-2026)
• Historic market value (2020): 167.16 billion USD.
• Forecast CAGR (2021-2026): 5.8%
• Forecast market value (2026): 221.60 billion USD.
The current global TFT-LCD display panel market is driven by the increasing demand for high-quality flat panel TVs, smartphones, tablets, and automotive surveillance systems, as well as the expanding gaming industry. The flat panel dominates the global display industry, with TFT-LCDs being the most popular type of flat panel display and driven by significant demand from growing countries, especially those in Asia-Pacific like India, China, Korea and Taiwan. among others. The increased demand for consumer electronics such as LCD TVs, PCs, laptops, SLR cameras, navigation devices and others has contributed to the growth of the industry.
Definition of the industry and main segments
TFT-LCD screens are a type of liquid crystal display in which each pixel is connected to a thin film transistor. TFT has been used in all LCD computer screens since the early 2000s because it offers faster response time and greater color fidelity. They are in great demand in virtually every industry where displays are needed due to their advantageous qualities such as lightness, thinness, high resolution and low power consumption. TFT-LCD display panels, despite their larger dimensions, are more practical because they can be viewed from a wider angle, are not subject to reflection, and are lighter in weight than conventional CRT televisions.
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Based on size, the market is divided into:
• Big size
• Medium and small size
Depending on the application, the market is divided into:
• Mobile phones
Regional Markets of Global TFT-LCD Display Panel:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The global TFT-LCD display panel market is driven by the growing household demand for mid-size and large-size flat panel TVs, as well as the growing desire for small, high-resolution smartphones with large screens. The increasing demand for portable and small size tablets in the educational and commercial sectors has also contributed to the growth of the TFT-LCD display panels market. Growing demand for vehicle screens, a thriving gaming industry, and the growing popularity of 3D movies are all major market drivers. Despite concerns about the oversupply in the market, shipments of large TFT-LCD displays increased again in 2020.
With over a third of the global share, North America is the largest market for TFT-LCD display panels. It is closely followed by the Asia-Pacific region, which includes countries like India, China, Korea and Taiwan, which are key emerging markets for TFT-LCD display panels. China and India are two of the region’s fastest growing economies. The expansion of demand in these regions has been helped by the expansion of their economies, an increase in disposable income and an increase in the desire for consumer electronics.
Key market players
The major players in the market are Samsung, LG Electronics Inc, Sharp Electronics Corporation, BOE Technology Group Co Ltd, AU Optronics Corp, among others. The report covers market shares, capacities, plant rotations, expansions, investments, mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are continuously monitoring the impact of this rapidly evolving situation on markets and consumer buying behaviors. Thus, our latest estimates and analyzes on current market trends and forecasts will comprehensively reflect the effects of this emerging pandemic.
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