Global display market projected to grow by 5.4 percent in 2024
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seoul (Uttam Hindu News): The world display market is expected to expand by more than 5 percent in 2024 due to the increasing use of premium organic light-emitting diode panels (OLED) and improving demand for certain products.
Global sales of OLED and other display products are expected to reach $122.8 billion in the coming year, up 5.4 percent from this year, the Korea Display Industry Association reports.
It said this growth will be driven by greater use of OLED displays in IT products and a surge in demand for liquid crystal display (LC) panels.
The global OLED market is projected to grow 8 percent to $43.4 billion next year due to increasing demand from manufacturers of TVs, smartphones, other IT products and vehicles, Yonhap news agency reports.
The market has been growing at an annual average rate of 26.5 percent since 2007.
The global market for LCD panels is projected to grow 4 percent year-on-year to $78.1 billion in 2024, an average annual growth rate of 0.3 percent since 2007.
Global events such as the 2024 UEFA European Football Championships in Germany and the Paris Summer Olympics are likely to boost demand for performance products next year, but the market may face headwinds such as the war in Ukraine and the Hamas-Israel conflict, the association said .
It said that the world display market is also likely to be affected by possible policy changes arising from the results of the US presidential election in November next year.
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