Displays (Global Market)

Chronicle

2024

Growth in sales of displays of all types to $156.47 billion

In 2024, the global display market reached $156.47 billion. About 40% of this amount was in the Asia-Pacific region. Such data are provided in a Fortune Business Insights study, the results of which were published on April 24, 2025.

Analysts take into account shipments of panels of all types, including LCD and OLED, for various devices - smartphones and tablets, laptops, computer monitors, TVs, wearable gadgets, augmented and virtual reality headsets, etc.

One of the main drivers of the market, the authors of the study call technological advances. Developers are constantly improving key panel features such as resolution, refresh rate, color accuracy, and viewing angles. High-quality screens are in demand in many industries, including healthcare, retail and entertainment. Moreover, they not only serve to display information, but also act as user interfaces. Flexible screens are gaining popularity, which are also used in foldable smartphones of a new generation. There is a growing demand for displays for automotive infotainment systems.

Technological advances help create displays that deliver superior image quality, interactivity and versatility, and meet changing user needs across industries and applications, Fortune Business Insights notes.

Artificial intelligence plays an important role in expanding the market. These algorithms speed up and simplify the development of new products. In addition, AI technologies transform the method of generating content, which leads to the expansion of augmented and virtual reality segments, and therefore to increased sales of corresponding headsets in which displays are used.

However, there are certain restraining factors. Despite its potential, the market faces difficulties due to the high cost of introducing new technologies such as quantum dots and transparent displays. In addition, there is a slowdown in growth in some areas, including personal computers.

By application, the market is segmented into smartphones, TVs, monitors, laptops, wearables, augmented and virtual reality solutions, etc. In 2024, the largest share was provided by smartphones, the penetration rate of which continues to grow around the world. From an industry point of view, the authors of the study distinguish healthcare, consumer (household) electronics, BFSI (banking, financial services and insurance), retail, automotive, military industry, etc. The most significant contribution is made by the consumer electronics segment. The health sector accounted for 20.6%. Geographically, the Asia-Pacific region is leading, where sales in 2024 amounted to $62.43 billion against $58.35 billion a year earlier. Significant growth is recorded in North America and Europe. Globally, significant players are named:

• BOE Technology;
• Samsung;
• Innolux;
• Panasonic;
• Japan Display;
• Sony;
• AUO;
• Sharp;
• NEC;
• Neyard.

In 2025, display sales worldwide are expected to amount to approximately $166.8 billion. Fortune Business Insights analysts believe that in the future, the CAGR in the market under consideration will be at the level of 8.5%. As a result, by 2032, costs could increase to $295.04 billion.^[1]

More AMOLED displays sold in global smartphone market than LCD screens for the first time

Globally, smartphone display shipments reached 1.55 billion units in 2024. This is 7% more compared to 2023, when shipments were estimated at 1.45 billion units. Such data are provided in a study by Omdia, the results of which TAdviser reviewed in mid-April 2025.

It is noted that the global smartphone display market peaked in 2021, when shipments rose to 1.72 billion units. However, in 2022, against the background of a deteriorating geopolitical situation and a difficult macroeconomic situation, a 21% decline followed - to 1.37 billion units. The industry began to recover in 2023, showing growth of about 5%.

The total supply of AMOLED panels (active matrix on organic LEDs) in 2024 reached 784 million units, which is 26% more than in 2023. At the same time, shipments of traditional LCD screens amounted to 761 million units, a decrease of 8% on an annualized basis. As a result, sales of AMOLED products exceeded the supply of LCD solutions for the first time. At the end of 2024, AMOLED accounted for about 51% of the total smartphone display market.

The study says that since the second half of 2022, Chinese display manufacturers have significantly reduced prices for flexible AMOLED panels. This led to the fact that large smartphone manufacturers began to install such screens in mid-range devices, which previously traditionally used rigid AMOLED and LTPS TFT LCD products. This trend continued in 2024, as a result of which the share of flexible AMOLED increased from 28% of the total market volume in 2022 to 40% in 2024. In physical terms, approximately 617 million flexible AMOLED screens and 167 million rigid products of this type were shipped. The report also said shipments of a-Si TFT LCD type displays totaled about 611 million units in 2024. Another 151 million pieces fell on the LTPS TFT LCD panel.

AMOLED display shipments from Chinese manufacturers increased by 45% in 2024. This was facilitated by the strengthening of the position of smartphone developers from the PRC in the local market. As a result, the share of Chinese AMOLED panels reached 45% of the total supply of such displays for cellular devices. At the same time, Korean suppliers are losing ground: in this situation, they are forced to focus on sales of products in the premium segment on orders from Apple and Samsung, which provide more stable demand and higher profits.

AMOLED smartphone display shipments are expected to continue to grow in 2025 amid strong demand from Apple, including the launch of the new iPhone SE device, as well as the continued adoption of AMOELD panels by Android device manufacturers. In addition, it is assumed that Chinese manufacturers will further increase market share, thanks to strong links in supply chains and orders from local smartphone brands, says Brian Huh, senior analyst at Omdia Display research group.

In general, as Omdia notes, the display market is rapidly developing, which is facilitated by technological advances and changing consumer preferences. Analysts emphasize that AMOLED panels are widely used not only in smartphones, but also in other products, including TVs and wearables. Compared to LCD products, AMOLED screens provide numerous advantages, including superior image quality, thinner and lighter design, and flexibility. OLED panels are capable of displaying deep black, which is highly appreciated by consumers.^[2]

2023: Global touchscreen sales up 6% for the year to reach $30bn

In 2023, the global touch display market amounted to $29.71 billion. For comparison, in 2022, sales of such panels were estimated at $28.17 billion. Thus, growth was recorded at 6%. Industry trends are addressed in the Market Research Future survey published in late November 2024.

The market in question shows steady positive dynamics due to several factors. One of them is the increasing demand for intelligent electronics, including smartphones tablets and wearable gadgets: such devices are equipped with touch screens. In addition, displays with touch control capabilities are in demand Internet in the segment of things (): IoT they, for example, are part of the design of automation systems and industrial equipment. The automotive industry makes a significant contribution: modern vehicles are increasingly equipped with infotainment complexes that use touch panels for navigation, multimedia management and interaction with on-board systems.

Another driver of the market is technological advances. Manufacturers are constantly improving the performance of screens, improving resolution, brightness and other key parameters. In addition, the availability of flexible and foldable displays is growing, which provide ample opportunities for innovation in a wide variety of segments, including portable devices and automotive equipment. The growing penetration of smartphones in developing regions is further driving demand for touchpads. Plus, touchscreens are becoming commonplace in public transport, retail and healthcare.

From the point of view of the applied technology, the market is segmented into capacitive, resistive, infrared and acoustic touch panels. In 2023, products of the first of these types provided the largest revenue - approximately $10.5 billion: such screens are widely used in mobile gadgets. Resistive displays accounted for $7 billion: these solutions are especially popular in industrial environments due to their cost-effectiveness and reliability. Revenue in the infrared device sector is estimated at $6 billion, acoustic - at $6.21 billion. The key players in the industry are:

• Sharp;
• Fujitsu;
• TPK Holding;
• Texas Instruments;
• Synaptics;
• Stillwater Technologies;
• Samsung;
• Nitto Denko;
• AMD;
• Nokia;
• Harman International;
• E Ink Holdings;
• LG Display;
• Microsoft;
• Apple.

Geographically, the leader at the end of 2023 was North America with an estimate of $10.23 billion: there is high demand, fueled by achievements in the field of consumer electronics and automotive platforms. In second place is Europe, where the introduction of smart home devices and industrial automation systems is growing: the result was $8.41 billion. The Asia-Pacific region closes the top three with $7.12 billion, where sales are increasing due to rapid urbanization and the booming smartphone sector. In South America, spending was at $2.26 billion, while the Middle East and Africa provided a contribution of about $1.69 billion.

At the end of 2024, revenue in the global touch display market is estimated at $31.34 billion. Market Research Future analysts believe that in the future, the CAGR (average annual growth rate in complex percentages) will be 5.48%. As a result, by 2032, costs on a global scale could rise to $48 billion.^[3]

Notes