Technavio’s market research analysts estimate, the large area LCD market recorded sales of over 738 million units in 2015 and is expected to rake in revenues close to $84 billion by 2019.
“The reduced thickness of LCD glass substrates is leading vendors to focus on manufacturing slimmer and lightweight devices. In the past, manufacturing thin LCD glass was expensive. However, currently slim TFT LCDs are easily available in the market, facilitating the manufacture of thin LCD glass substrates,” said Technavio’s lead market research analyst Chandrashekhar.
“The market is also witnessing a gradual shift in preference towards eco-friendly manufacturing processes. Riding on this trend, Corning, a US-based company, introduced its EAGLE XG glass substrate that excludes heavy metals such as barium, arsenic, halogen compounds, and antimony, making it eco-friendly and cost-efficient. In addition, this LCD module can also be reduced by up to 10 per cent by reducing its thickness. Many similar products are expected to be introduced into this market over the next four years,” says Chandrashekhar.
Some of the other driving forces behind the growth of the global large area LCD display market are emergence of 3D LCD, UHD, and smart TVs, increase in new application areas for large area LCDs, and the rising popularity of large area TFT LCDs.
Emergence of 3D LCD, UHD, and smart TVs
The global 3D LCD flat panel TV market is expected to grow at a rate of about 60 per cent by volume until 2019, whereas the global smart TV market is expected to post a 19 per cent growth in volumes during the same period. Rising sales of electronic brands in these segments is predicted to immensely benefit the large area LCD display market over the next four years.
Technavio expects the penetration rate of 3D LCD and smart TVs to witness heightened interest among consumers interested in buying 3D technology. The emergence of UHD (ultra-high-definition) TV is also expected to fuel the demand for TFT LCD displays with prominent UHD TV makers such as Samsung developing the next-gen quantum dot LCD 4K UHD TV.
Increase in new application areas for large area LCDs
Large area TFT LCDs have found many new application areas thanks to the manifold increase in its deployment and outreach. While earlier, large LCDs were widely used in display systems such as TVs, monitors, notebooks, and PCs, these are finding extensive use in education and advertising purposes too. Outdoor and indoor displays are some of the products that have become immensely popular as display media among advertisers.
As image quality continues to improve, consumers are expected to show their inclination towards large screen size LCD TVs for a more immersive experience. The market is also witness to a significant jump in UHD content providers worldwide. Consumers demand unique visual experience with superior picture clarity which is met by modern UHD LCD TVs. In conjunction with this trend, many electronics consumers are slated to transition to a larger screen size in the range of 45-05 inches in the next four years. Consumers are also expected to envisage their interest in playing games and watching movies on desktop PCs. This trend will drive the demand for bigger desktop monitors through the 2019 period.
Rising popularity of large area TFT LCDs
Over the years, TFT LCDs have gained resounding popularity in the large area display LCD market as they are more cost-effective and compact than CRT displays. Attractive features that includes its lightweight, reduced panel width, ability to be mounted on walls, and low power consumption makes it more user-friendly than other conventional display systems.
With the advent of flat panels, several new devices such as LED-backlit LCD TVs, and QD-LCD TVs will be introduced in this market until the end of 2019. Currently, among these display devices, LCD FPDs have the highest penetration rate and it is predicted to foster market growth for LCD displays over the forecast period.