The flat panel display market is being fuelled by rising demand for LCDs; demand for flat panel displays, such as smartphones and televisions growing.

VALLEY COTTAGE, NEW YORK, UNITED STATES, August 17, 2015 /EINPresswire.com/ -- Future Market Insights (FMI) provides key insights on the flat panel display market by technology in its research report, “Flat Panel Display (FPD) Market: Global Industry Analysis and Opportunity Assessment 2014-2020”. According to the report, liquid crystal display (LCD) technology will account for more than 89% share of the flat panel display market by 2020.

FMI has segmented the flat panel display market on the basis of technology into liquid crystal display (LCD), plasma display (PDP), organic light emitting diode (OLED), and others (includes FED and ELD).

According to FMI, plasma display (PDP) is expected to lose 40 BPS during the forecast period 2014-2020, owing to growing adoption of LCD and OLED. Leading manufacturers, including LG and Panasonic are shifting towards LCDs, owing to which the market share of PDP is anticipated to drop from 9.6% in 2014 to 6.9% in 2020.

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Low manufacturing cost, coupled with application in a wide range of end-use industries is fuelling the demand for LCDs in the flat panel display market. LCDs are used in a wide range of devices, such as smartphones, notebooks, televisions, curved TVs, tablets, and digital signage. According to FMI, robust demand from the consumer electronics segment will fuel the LCD technology segment of flat panel display market during the forecast period.

LCDs have emerged as a cost-effective alternative to other displays owing to their low cost and wide range of applications. The research and development (R&D) conducted in the LCD segment over the years has enabled manufacturers to develop displays that are both energy-efficient and affordable. FMI opines that further innovation in quantum dot technology will make LCDs more affordable in the future, leading to their widespread adoption.

Although FMI maintains a positive outlook on the LCD technology segment of flat panel display market, there are a few challenges that can impede its growth during the forecast period.

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The LCD technology has become highly saturated with a majority of consumer electronics products using this technology. Leading brands around the world are looking at distinguishing their products from others, owing to which adoption of OLED has witnessed an upsurge. For example, Apple is shifting towards OLED in its iPhone, iPad and iTV.

According to FMI, the restricted viewing angle of displays that incorporate liquid crystal technology has prompted many consumers to switch to effective alternatives.

FMI’s analysis on the global flat panel display market has revealed that high-end products are more likely to be equipped with OLED, owing to their high definition features. Although mid-range consumer electronics products are anticipated to feature LCD technology, manufacturers are expected to prefer OLED for high-end devices.

The LCD technology segment of flat panel display market is expected to expand at a compound annual growth rate of 6% during the forecast period 2014-2020. This segment, which was valued at US$ 82 Bn in 2014, is expected to reach US$ 116 Bn by 2020.

The plasma (PDP) segment of the flat panel display market is expected to lose its market share during the forecast period owing to low demand from end-use industries. Many TV manufacturers have shut down their production plants in a bid to avoid losses, as the adoption rate of plasma panels has reduced considerably.

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Plasma displays have limited applications, as most of the end-user industries are switching to either LED or OLED technology. Current applications of plasma technology include large format displays, such as TVs and indoor signage. The plasma technology segment of flat panel display market is anticipated to reach US$ 11 Bn by 2020.

FMI opines that OLED is an emerging technology, however, the adoption of LCD is expected to impede the growth of this segment during the forecast period. The share of the OLED technology segment is expected to reduce from 2.8% in 2014 to 2.4% by 2020.

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