.png){kind=logo}
OLED Poised for Growth in Industrial Displays, China Dominates 2023 LCD Market
Published: 2.5.2024
Omdia's recent report on industrial display panels highlights their growing presence in various sectors, including entertainment, healthcare, fitness, retail, transportation, and smart home/office solutions. The report now covers 50 specific applications, showcasing the evolving landscape of this market.
While shipments are expected to drop 8.8% to 355 million units by year-end 2023 due to overbooking, inflation, and high inventory, Omdia predicts a strong rebound starting in the second half of 2024, with a 10% growth within a year stemming from innovative applications like projectors, smart locks, interactive displays, and live streaming equipment coming to market. As illustrated in Figure 1, demand is expected to continue rising through 2026.
Thin-film transistor (TFT) liquid crystal displays (LCDs) remain at the top in industrial panels, accounting for nearly half ,48% share, in 2023. The remaining market pie is divided among passive matrix organic light-emitting diodes (PMOLEDs), passive and active-matrix OLEDs (AMOLEDs), and passive electronic paper displays (PMEPDs).
Screen sizes for TFT-LCD industrial displays typically range from 1 to 27 inches, with those under 10.1 inches accounting for over half the market. Industrial panels are highly customized products. o panels come in diverse specifications to meet various specifications needs. Manufacturers offer options from semi-finished panels (open cells) to complete monitors with touchscreens and backlights. The supply chain is complex, with numerous competitive and collaborative relationships driving product uniqueness and competitiveness.
While Chinese manufacturers like Tianma, BOE, Innolux, Daqing, and Truly currently lead the pack with a predicted 59% share in 2023, AMOLED displays potential for for industrial applications.
Omdia predicts that AMOLED display panels contain growth potential for industrial display applications in the next few years. However, TFT-LCD is still the current mainstream display technology. Therefore, it is key to continue to develop innovative industrial display applications for vertical markets to sustain and drive business opportunity growth in the coming years.
