Liquid Crystal Displays Market Size, Share, Growth, And Industry Analysis By Type (LCD Character Drivers, LCD Graphic Drivers, and LCC Segment Drivers) By Application (Automotive, Industrial, Medical, Small Appliance, and Others) and Regional Forecast to 2027

Updated On: 08 April 2024

liquid crystal displays market Report Overview

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The global liquid crystal displays market size was USD 152639 million in 2021. As per our research, the market is expected to reach USD 819685 million by 2027, exhibiting a CAGR of 32.33% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the liquid crystal displays market growth and demand returning to pre-pandemic levels once the pandemic is over.

The way we view and use technology is being revolutionized by liquid crystal displays (LCDs). These amazing displays are increasingly common in various gadgets, including smartphones, televisions, and digital signage. It is understandable why this market is rising. LCDs provide a better visual experience thanks to their vivid colors, high resolution, and energy efficiency.

There are numerous varieties of liquid crystal displays on the market right now. The most popular kind is a twisted nematic (TN) display, which has a quick response time and uses little power. For applications where speed is essential, such as gaming or sports broadcasting, TN displays are ideal. IPS displays another kind of LCD, using in-plane switching technology. Compared to TN screens, IPS panels offer broader viewing angles and greater color reproduction. They are, therefore, perfect for using in-depth photo editing software or enjoying a movie with friends and family. Organic light-emitting diode (OLED) screens are another option for individuals looking for the highest display quality. Due to the individually lighted pixels made possible by OLED technology, true blacks, limitless contrast ratios, and brilliant colors are all possible.

COVID-19 Impact: Lockdown And Social Distancing Regulations Accelerated The Market Growth

This market is not an exception to the major effects of the COVID-19 epidemic on other industries. However, the opportunity for creativity and development in the face of difficulty makes this position fascinating. The need has increased dramatically as people spend more time at home and rely more on technology. These displays, which range from cell phones to televisions, have become an essential part of our daily life. Due to the rising demand, manufacturers now have a new opportunity to design cutting-edge displays with enhanced features and functionalities.

Latest Trends

"The Development Of High-Resolution Displays Boosts Market Expansion"

A thrilling invention and development surge is sweeping the liquid crystal display sector. Creating high-resolution screens that provide excellent picture quality and immersive viewing experiences is the newest trend in this market. Manufacturers are pushing the limits of display technology in response to the rising demand for incredibly clear graphics in sectors like gaming, entertainment, and virtual reality. These state-of-the-art displays not only deliver clearer and more colorful visuals but also use less electricity, making them economical and environmentally beneficial.

liquid crystal displays market Segmentation

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• By Type Analysis

The liquid crystal displays market can be segmented into LCD character drivers, LCD graphic drivers, and LCC segment drivers. Among these, the LCD character drivers are projected to experience rapid growth through 2028.

• By Application Analysis

The market can be divided based on application into automotive, industrial, medical, small appliance, and others. Automotive is expected to hold the most liquid crystal displays market share in the upcoming years.

Driving Factors

"The Increasing Need for Immersive Visual Experiences Propels Market Expansion"

One of the most fascinating industries to work in, the industry is driven ahead by several important variables. First and foremost, as more and more customers desire immersive visual experiences, the demand for high-quality screens is soaring. People expect vivid, clear displays that bring their material to life, whether watching films, playing video games, or browsing the internet. Consumers now have access to a wide choice of options thanks to manufacturers' ongoing innovation and improvement of their liquid crystal displays in response to this rising demand.

"The Rapid Advancement In Technology Fuels Market Growth"

The quickening pace of technological development is also driving this market. Every year that goes by, display technology advances beyond what is conceivable. These developments make liquid crystal displays increasingly more spectacular and enticing to consumers, from faster refresh rates to greater resolutions. A larger spectrum of consumers can now afford these displays thanks to the declining cost of production, thus boosting the market's expansion. The development of the business is also being aided by the expanding use of liquid crystal displays in numerous sectors, including telecommunications, healthcare, and the automobile industry.

Restraining Factors

"The High Cost And The Intense Competition Hinder Market Growth"

The market for liquid crystal displays has been expanding thanks to technological improvements. There are, however, some obstacles that must be overcome. The expensive cost of manufacture is one of the biggest issues facing the liquid crystal display industry. The amount of money that manufacturers must spend on both the manufacturing process and research & development drives up the price of the final product. The fierce rivalry in the liquid crystal displays business is another factor limiting market growth. Because there are so many competitors, businesses must constantly set themselves apart and provide distinctive characteristics to remain competitive.

liquid crystal displays market Regional Insights

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"U.S. to Dominate Market Due To The Increasing Need for Immersive Visual Experiences"

The U.S. holds the maximum smart shade devices market share, and Factors driving the market growth in this region include the increasing need for immersive visual experiences. Intriguing and dynamic, this industry advances due to key factors. Primarily, the surge in demand for immersive visual experiences fuels the need for top-notch screens. People seek clear, vibrant displays for activities like watching movies, gaming, and browsing. Manufacturers continually innovate and enhance liquid crystal displays to offer consumers a diverse range of high-quality choices.

European and Asian countries hold the second-largest market share, and the rapid technological advancement fuels market expansion. Rapid technological progress propels this market as display tech constantly surpasses expectations. From faster refresh rates to higher resolutions, liquid crystal displays continually improve, captivating consumers. Declining production costs enable broader access, driving market growth. Expanding LCD use in sectors like telecommunications, healthcare, and automobiles further fuels industry development.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Panasonic Corporation (Japan)
• Chi Mei Corporation. (Taiwan)
• AU Optronics Corp. (Taiwan)
• HannStar Display Corporation (Taiwan)
• Innolux Corporation (Taiwan)
• Chunghwa Picture Tubes, LTD. (China)
• Advantech Co., Ltd (Taiwan)
• SONY INDIA. (India)
• BOE Technology Group Co., Ltd. (China)
• LG Display Co., Ltd (South Korea)
• Mitsubishi Electric Corporation (Japan)
• Schneider Electric (France)
• Siemens (Germany)
• SHARP CORPORATION (Japan)
• Barco. (Belgium)
• SAMSUNG (South Korea)
• FUJITSU (Japan)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.