- According to the TechSci Research report, "China Display Market By Technology, By Type, By End User, Competition Forecast and Opportunities, 2012-2022", the display market in China is projected to register a CAGR of more than 8% during 2016-2022.
A combination of rising demand for consumer electronics, such as smartphones, tablets, laptops, monitors and televisions, coupled with declining prices of displays due to reducing manufacturing costs and technology advancements, have been the driving force behind the growth.
In 2015, China had around 540.8 million smartphone users and about 293.6 million tablet users. Over the past few years, display technologies have undergone radical changes that have led to an upsurge in adoption of OLED (Organic Light-Emitting Diode), QDLED (Quantum Dot Light Emitting Diode) and EPD (Electronic Paper Display). OLED display segment is projected to emerge as the fastest growing market for displays in China during the forecast period.
Surging demand for digital signage and POS systems on account of flourishing retail industry, rising laptop and tablet sales, booming mobile gaming industry and increasing mobile workforce in enterprises are a few factors driving demand for display solutions in China. In 2015, 5-inch plus screen size smartphones contributed around 32% share in China smartphone market. Demand for large screen smartphones in China is projected to witness significant upsurge in the coming years and this is projected to boost China display market through 2022. Samsung Display, LG Display, BOE Technology Group, AU Optronics Corporation, Tianma Micro-Electronics and Truly Semiconductors Limited are few of the leading players operating in China display market.
"Growing demand for energy efficiency in consumer electronics, rising manufacturing of various types of displays due to booming demand for consumer electronics in Southeast Asia,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm. “Rapid growth in demand for smart wearables, especially smartwatches and fitness bands, are driving display market in China. Though LCD displays dominate China display market, demand for new and innovative display technologies is projected to propel demand for OLED and QDLED technologies, especially from smartphones and televisions end user segments, over the course of next five years.”