LCD Display Market Report 2024 (Global Edition)

Global LCD Display Market Report 2024 Market Size Split by Product Outlook: (LCD Graphic Drivers, LCD Character Drivers, LCD Segment Drivers), by Application Outlook: (Consumer Electronics, Automotive...

LCD Display Market Report Description

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LCD Display Market Insights Video

Competitive Landscape of the LCD display Market

The LCD display market is very competitive, with major worldwide competitors such as LG Display, Samsung Electronics, BOE Technology, AU Optronics, and Sharp Corporation. These corporations dominate the industry because to their extensive manufacturing capabilities, innovative technology, and robust supply chain networks. Companies compete fiercely, focusing on developments such as Mini-LED, Quantum Dot technology, and high-resolution screens to differentiate themselves. Furthermore, cost reduction, energy efficiency, and product diversity remain important initiatives. The increased demand for LCDs in expanding industries such as automotive, healthcare, and industrial applications is driving up rivalry between existing and new manufacturers.

In September 2024, LG Display agreed to sell its stake in its large LCD plant in Guangzhou, China, to TCL's LCD unit CSOT for 10.8 billion yuan ($1.54 billion) (Source: https://www.reuters.com/markets/deals/lg-display-agrees-sale-chinese-lcd-plant-15-bln-2024-09-26/ ) In May 2024 , SHARP announced it will halt operations at its LCD TV plant in Sakai, Osaka Prefecture. This decision aims to boost profits by downsizing its sluggish LCD business1. The plant, run by its subsidiary Sakai Display Products Corp. (SDP), will cease production, making Japan's production of LCD TV displays drop to zero (Source: https://japannews.yomiuri.co.jp/business/companies/20240514-186052/ ) In June 2020, Mitsubishi Electric announced the end of production of TFT-LCD modules by its wholly owned subsidiary, Melco Display Technology Inc. (MDTI). The decision was driven by changes in the business environment and the need to focus on growth drivers like power devices. (Source: https://www.mitsubishielectric.com/news/2020/0615.html )

Top Companies Market Share in LCD Display Industry: (In no particular order of Rank)

• Panasonic Corporation
• LG Display Co.
• Ltd
• HannStar Display Corporation
• AU Optronics Corp.
• Chi Mei Corporation.
• SAMSUNG
• SHARP CORPORATION
• Schneider Electric
• Siemens
• Mitsubishi Electric Corporation
• SONY INDIA.
• FUJITSU
• Chunghwa Picture Tubes
• LTD.
• Confidential Data
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• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the LCD display Market

Which Region Dominates the LCD display Market in 2024?

According to Cognitive Market Research, North America currently dominates the LCD display Markets market, and the region is expected to have significant growth during the projected period. The region benefits from superior technological infrastructure, high disposable income, and a strong presence of prominent electronics manufacturers such as Apple, Dell, and Microsoft, which together generate large LCD display usage.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). Countries such as China, South Korea, and Japan are significant LCD panel manufacturing hubs, with top businesses like Samsung, LG Display, and BOE Technology pushing production and innovation.

The current report Scope analyzes LCD Display Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America LCD Display

According to Cognitive Market Research, the global LCD display Market size was estimated at USD 150251.5 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 60100.60 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.7% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the LCD display Market with a market size of USD 47419.37 million in 2024 and is projected to grow at a CAGR of 2.5% during the forecast period. In the United States, developments in display technology, such 4K and Mini-LED, stimulate demand.
• The Canada LCD display Market had a market share of USD 7212.07 million in 2024 and is projected to grow at a CAGR of 3.5% during the forecast period. In Canada, developments in display technology, such as energy-efficient panels and high resolution, boost demand.
• The Mexico LCD display Market is projected to witness growth at a CAGR of 3.2% during the forecast period, with a market size of USD 5469.15 million in 2024.

Europe LCD Display

According to Cognitive Market Research, the global LCD display Market size was estimated at USD 150251.5 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 45075.45 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.0% from 2024 to 2031.

• The United Kingdom LCD display Market had a market share of USD 7572.68 million in 2024 and is projected to grow at a CAGR of 3.8% during the forecast period. In the United Kingdom, breakthroughs in display technology, such Quantum Dot and Mini-LED, drive demand.
• The France LCD display Market is projected to witness growth at a CAGR of 2.2% during the forecast period, with a market size of USD 4146.94 million in 2024.
• According to Cognitive Market Research, the German LCD display Market size was valued at USD 924.94 million in 2024 and is projected to grow at a CAGR of 3.2% during the forecast period. In Germany, developments in display technology, such as high-resolution and energy-efficient panels, are driving demand.
• The Italy LCD display Market is projected to witness growth at a CAGR of 2.4% during the forecast period, with a market size of USD 3876.49 million in 2024.
• The Russia LCD display Market is projected to witness growth at a CAGR of 2.0% during the forecast period, with a market size of USD 6986.69 million in 2024.
• The Spain LCD display Market is projected to witness growth at a CAGR of 2.1% during the forecast period with a market size of USD 3696.19 million in 2024
• The Luxembourg LCD display Market is projected to witness growth at a CAGR of 3.1% during the forecast period, with a market size of USD 1397.34 million in 2024.
• The Portugal LCD display Market is projected to witness growth at a CAGR of 2.8% during the forecast period, with a market size of USD 946.58 million in 2024.
• The Greece LCD display Market is projected to witness growth at a CAGR of 3.3% during the forecast period, with a market size of USD 540.91 million in 2024.
• The Rest of Europe's LCD display Market is projected to witness growth at a CAGR of 1.7% during the forecast period, with a market size of USD 6986.69 million in 2024.

Asia Pacific LCD Display

According to Cognitive Market Research, the global LCD display Market size was estimated at USD 150251.5 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 34557.85 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.

• According to Cognitive Market Research, the China LCD display Market size was valued at USD 15551.03 million in 2024 and is projected to grow at a CAGR of 6.0% during the forecast period. Demand in China is driven by developments in display technology, such as 4K panels and Mini-LEDs.
• The Japan LCD display Market is projected to witness growth at a CAGR of 5.0% during the forecast period, with a market size of USD 4768.98 million in 2024.
• The India LCD display Market had a market share of USD 4146.94 million in 2024 and is projected to grow at a CAGR of 8.3% during the forecast period. In India, developments in display technology, such as high-resolution screens and energy efficiency.
• The South Korean LCD display Market is projected to witness growth at a CAGR of 5.6% during the forecast period, with a market size of USD 3455.78 million in 2024.
• The Australian LCD display Market is projected to witness growth at a CAGR of 6.2% during the forecast period, with a market size of USD 1797.01 million in 2024.
• The South East Asia LCD display Market is projected to witness growth at a CAGR of 7.5% during the forecast period, with a market size of USD 2384.49 million in 2024.
• The Rest of Asia Pacific LCD display Market is projected to witness growth at a CAGR of 6.3% during the forecast period, with a market size of USD 2453.61 million in 2024.

South America LCD Display

According to Cognitive Market Research, the global LCD display Market size was estimated at USD 150251.5 Million, out of which the Latin America held the market share of around 5% of the global revenue with a market size of USD 7512.58 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.9% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil LCD display Market size was valued at USD 3215.38 million in 2024 and is projected to grow at a CAGR of 4.5% during the forecast period. In Brazil, developments in display technology, such as 4K panels and energy-efficient screens, are driving demand.
• Argentina's LCD display Market had a market share of USD 1262.11 million in 2024 and is projected to grow at a CAGR of 4.8% during the forecast period. Argentina's rising personal disposable income.
• Colombia LCD display Market is projected to witness growth at a CAGR of 3.7% during the forecast period, with a market size of USD 668.62 million in 2024.
• Peru LCD display Market is projected to witness growth at a CAGR of 4.1% during the forecast period, with a market size of USD 616.03 million in 2024.
• Chile LCD display Market is projected to witness growth at a CAGR of 4.2% during the forecast period, with a market size of USD 540.91 million in 2024.
• The Rest of Latin America's LCD display Market is projected to witness growth at a CAGR of 3.0% during the forecast period, with a market size of USD 1209.52 million in 2024.

Middle East and Africa LCD Display

According to Cognitive Market Research, the global LCD display Market size was estimated at USD 150251.5 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 3005.03 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031..

• The GCC Countries LCD display Market is projected to witness growth at a CAGR of 5.0% during the forecast period, with a market size of USD 1286.15 million in 2024. GCC breakthroughs in display technology, such as Quantum Dot and Mini-LED.
• The Egypt LCD display Market is projected to witness growth at a CAGR of 4.5% during the forecast period, with a market size of USD 315.53 million in 2024.
• The South Africa LCD display Market is projected to witness growth at a CAGR of 5.2% during the forecast period, with a market size of USD 474.79 million in 2024. South African innovations in display technology, such as energy-efficient and high-resolution LCDs.
• The Turkey LCD display Market is projected to witness growth at a CAGR of 3.7% during the forecast period, with a market size of USD 258.43 million in 2024.
• The Nigeria LCD display Market is projected to witness growth at a CAGR of 3.3% during the forecast period, with a market size of USD 315.53 million in 2024.
• The Rest of the MEA LCD display Market is projected to witness growth at a CAGR of 3.2% during the forecast period, with a market size of USD 354.59 million in 2024.

LCD Display Market Analysis

How are Segments Performing in the Global LCD display Market?

LCD display Market Product Segment Analysis

According to Cognitive Market Research, LCD Graphic Drivers are likely to dominate the LCD display Market over the forecast period. LCD graphic drivers are likely to dominate the LCD display market over the forecast period, owing to their vital role in enabling high-quality picture and video rendering. These drivers manage the display's pixel matrix and are critical for guaranteeing smooth visual performance, especially in applications such as smartphones, tablets, smart TVs, and gaming monitors. As the demand for high-resolution displays and interactive touchscreens grows, graphic drivers play an important role in controlling power consumption, refresh rates, and image clarity. Furthermore, the rise of automotive displays, industrial applications, and healthcare devices increases the demand for efficient and dependable LCD graphic drivers, resulting in their market dominance in the next years.

The LCD Character Drivers is the fastest-growing segment in the LCD display Market. The LCD character drivers sector is the fastest-growing in the LCD display market, owing to their broad use in a number of applications. These drivers manage alphanumeric characters on inexpensive LCD screens, making them essential in calculators, microwave ovens, e-readers, home appliances, and industrial equipment. Character drivers are popular because they are inexpensive, simple to use, and consume little power. The development of industrial automation and smart home gadgets is driving up demand, as manufacturers look for low-cost, dependable solutions to display basic information. Furthermore, the growing usage of wearable devices and IoT-based solutions fuels the market growth of LCD character drivers.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of LCD Display Industry. Request a Free Sample PDF!

LCD display Market Application Segment Analysis

According to Cognitive Market Research, the Consumer Electronics segment holds the largest share of the market. The consumer electronics segment holds the largest share of the LCD display market due to the widespread use of LCD technology in everyday devices like smart phones, televisions, laptops, and monitors. LCDs offer a balance of affordability, high resolution, and energy efficiency, making them the preferred choice for manufacturers in this segment. The rising demand for larger smart TVs, ultra-thin laptops, and high-performance gaming monitors continues to drive market growth. Additionally, as consumer preferences shift toward smart devices and interactive displays, the demand for high-quality LCD screens in mobile and home electronics remains strong, ensuring the segment's dominant market share.

In the LCD display Market, the Automotive has been expanding at a rapid pace. The automotive segment of the LCD display market is quickly rising, driven by the increasing integration of advanced display technologies into modern automobiles. LCDs are now widely employed in infotainment systems, instrument clusters, and advanced driving assistance systems (ADAS), providing drivers with critical information and improving the user experience. The rise of electric vehicles (EVs) and self-driving cars increases demand because these vehicles require larger, high-resolution screens for navigation, entertainment, and controls. Furthermore, LCDs are durable, energy efficient, and versatile, making them suitable for vehicle applications. As automakers embrace smart, connected technologies, the automobile industry is becoming a major driver of growth in the LCD display market.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

LCD Display Technology Outlook: Segment Analysis

LCD display Market Technology Segment Analysis

According to Cognitive Market Research, The Twisted Nematic segment holds the largest market share. The Twisted Nematic (TN) sector has the biggest market share in the LCD display market due to its long history of dominance in applications requiring cost-effectiveness and high-speed performance. TN displays have fast response times and are commonly utilized in consumer devices such as monitors, televisions, and smartphones. They are quite inexpensive to make, making them a common option for low-cost gadgets. Despite having inferior color accuracy and viewing angles than alternative technologies such as IPS (In-Plane Switching), TN panels are popular for gaming displays and industrial applications that require quick refresh rates and little motion blur. This blend of pricing and performance guarantees that TN maintains its market leadership.

In the LCD display Market, the rapidly growing sector is the In-Plane Switching category. The In-Plane Switching (IPS) category is the fastest growing segment of the LCD display market, thanks to its greater color accuracy, wide viewing angles, and high-quality image performance. Unlike older LCD technology, IPS displays provide constant and brilliant colors, making them excellent for applications requiring great visual quality, such as professional monitors, smartphones, tablets, and high-end televisions. The growing demand for high-end consumer electronics and gaming displays with superior color reproduction has accelerated the adoption of IPS panels. Furthermore, developments in IPS technology, such as higher contrast ratios and power economy, continue to fuel growth, establishing the IPS category as a prominent player in the developing LCD industry.

• Twisted Nematic (TN)
• In-Plane Switching (IPS)
• Vertical Alignment (VA)
• Advanced Fringe Field Switching (AFFS)
• Others

LCD Display Size Outlook: Segment Analysis

LCD display Market Size Segment Analysis

According to Cognitive Market Research, the Small and Medium-Sized Panels segment dominates the market. Small and medium-sized panels dominate the LCD display industry because they are widely used in consumer devices, particularly smartphones, tablets, laptops, and wearables. These panels strike a mix between price, excellent performance, and compactness, making them the best option for devices that demand portability and ease of use. As the demand for mobile devices and smart home technologies develops, small and medium-sized LCD panels are becoming more common in interactive displays, car screens, and home appliances. Furthermore, ongoing innovation in display technologies such as high-resolution and touchscreen capabilities drives up the adoption of tiny and medium-sized panels, ensuring their leading market position.

Large Panels is projected to be the fastest-growing segment in the LCD display Market. The large panels sector is expected to develop the fastest in the LCD display market, owing to increased demand for big-screen TVs, digital signs, and commercial displays. As consumer preferences shift toward larger and more immersive viewing experiences, the demand for high-quality, large-format LCDs has increased. 4K and 8K televisions, together with advances in smart TV technologies, are driving the adoption of bigger panels. Furthermore, the increasing usage of interactive displays in retail, education, and corporate settings encourages their widespread acceptance. As the entertainment and advertising industries continue to invest in large-scale display solutions, the large panels market is expected to expand rapidly in the future years.

• Small and Medium-Sized Panels
• Large Panels

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Kalyani Raje

Senior Research Analyst at Cognitive Market Research

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An optimistic Senior Research Analyst with years of experience in competitive assessment and business consulting. A seasoned professional and subject-matter expert (SME) in the Automobile and transportation vertical.

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