Industrial Display Panel Market Set to Hit $2.4 Billion with E-Cigarettes and Gaming Leading Growth
The industrial display panel market is experiencing remarkable growth, propelled by specific sectors like e-cigarettes and gaming consoles. A recent analysis by Omdia forecasts that the revenue from industrial display panels will reach a significant USD 2.4 billion by 2025, reflecting a robust increase of 13.6% year-on-year. In 2024, the total shipments of industrial display panels are expected to soar to 167.9 million units, an impressive increase of 10.9% compared to the previous year.
Among the various applications of industrial displays, the smart home and office segments lead with a 46% shipment share. Specifically, multi-function printers dominate this category, accounting for about 22% of shipments, translating to 8.6 million units for screens under three inches and five million units for screens sized between 3.1 and 7 inches, largely driven by the contributions from AUO Display Plus.
However, the demand for industrial displays is anticipated to maintain stability or witness a slight decline due to inventory challenges. Despite this, the double-digit growth in shipments in certain niche sectors is set to drive market engagement. Notably, the demand for 0.96-inch AMOLED screens utilized in e-cigarettes and 8-inch LTPS displays for gaming consoles will significantly contribute to overall growth, with Truly Electronics playing a pivotal role in this segment.
As we look ahead to 2025, estimates indicate further growth in industrial display shipments, expected to climb to 178 million units, which signifies a 6% year-on-year increase. The market is on the rebound due to anticipated demand in factory automation, alongside sustained performance in both the e-cigarette and gaming console industries.
From a production standpoint, major industrial display panel manufacturers, including AUO Display Plus, BOE, Innolux, Tianma, and Truly, are projected to generate revenues of USD 2.1 billion in 2024. This figure, although depicting a modest decrease of 3.5% from the previous year, is poised for recovery in 2025, showcasing a robust growth trajectory of 13.6%.
The operational landscape for industrial display supply chain participants is complex, as they adopt diverse business models that blend cooperation with competition. Notably, several panel manufacturers are ramping up efforts in both the set and open-frame business sectors. Revenue streams from these segments are anticipated to adjust, accounting for roughly 4.8% of the total revenue for the panels in 2024.
Amidst geopolitical challenges and tariff implications expected throughout 2025, manufacturers are reshaping their production strategies by shifting assets to regions in Southeast Asia and India. Fortunately, several key players, including touch panel suppliers and panel module houses, have already initiated mass production operations in these areas, facilitating a smoother transition.
As TzuHu Huang from Omdia highlights, 'The revenue growth intensifies in 2025, motivated by burgeoning demands from e-cigarette markets, game console expansions, and the introduction of innovative applications such as two-wheeled vehicles equipped with a-Si display technology.' These vehicles necessitate durable display solutions capable of withstanding direct sunlight and exposure to harsh weather conditions, resulting in more stringent product specifications.
Moreover, the introduction of mini LED backlight products targeted for slot machines, marine applications, professional medical displays, and drones promises to spur further revenue increases as these ventures embark on mass production.
In conclusion, the industrial display panel market is on an upward trajectory fueled by the advent of electronic innovations that require advanced display technologies, standing out as a pivotal industry in the tech landscape. Industry stakeholders are gearing up for a future marked by significant growth, innovation, and adaptation to evolving consumer and industrial needs.
Among the various applications of industrial displays, the smart home and office segments lead with a 46% shipment share. Specifically, multi-function printers dominate this category, accounting for about 22% of shipments, translating to 8.6 million units for screens under three inches and five million units for screens sized between 3.1 and 7 inches, largely driven by the contributions from AUO Display Plus.
However, the demand for industrial displays is anticipated to maintain stability or witness a slight decline due to inventory challenges. Despite this, the double-digit growth in shipments in certain niche sectors is set to drive market engagement. Notably, the demand for 0.96-inch AMOLED screens utilized in e-cigarettes and 8-inch LTPS displays for gaming consoles will significantly contribute to overall growth, with Truly Electronics playing a pivotal role in this segment.
As we look ahead to 2025, estimates indicate further growth in industrial display shipments, expected to climb to 178 million units, which signifies a 6% year-on-year increase. The market is on the rebound due to anticipated demand in factory automation, alongside sustained performance in both the e-cigarette and gaming console industries.
From a production standpoint, major industrial display panel manufacturers, including AUO Display Plus, BOE, Innolux, Tianma, and Truly, are projected to generate revenues of USD 2.1 billion in 2024. This figure, although depicting a modest decrease of 3.5% from the previous year, is poised for recovery in 2025, showcasing a robust growth trajectory of 13.6%.
The operational landscape for industrial display supply chain participants is complex, as they adopt diverse business models that blend cooperation with competition. Notably, several panel manufacturers are ramping up efforts in both the set and open-frame business sectors. Revenue streams from these segments are anticipated to adjust, accounting for roughly 4.8% of the total revenue for the panels in 2024.
Amidst geopolitical challenges and tariff implications expected throughout 2025, manufacturers are reshaping their production strategies by shifting assets to regions in Southeast Asia and India. Fortunately, several key players, including touch panel suppliers and panel module houses, have already initiated mass production operations in these areas, facilitating a smoother transition.
As TzuHu Huang from Omdia highlights, 'The revenue growth intensifies in 2025, motivated by burgeoning demands from e-cigarette markets, game console expansions, and the introduction of innovative applications such as two-wheeled vehicles equipped with a-Si display technology.' These vehicles necessitate durable display solutions capable of withstanding direct sunlight and exposure to harsh weather conditions, resulting in more stringent product specifications.
Moreover, the introduction of mini LED backlight products targeted for slot machines, marine applications, professional medical displays, and drones promises to spur further revenue increases as these ventures embark on mass production.
In conclusion, the industrial display panel market is on an upward trajectory fueled by the advent of electronic innovations that require advanced display technologies, standing out as a pivotal industry in the tech landscape. Industry stakeholders are gearing up for a future marked by significant growth, innovation, and adaptation to evolving consumer and industrial needs.
Topics Consumer Technology）
【About Using Articles】
You can freely use the title and article content by linking to the page where the article is posted.
※ Images cannot be used.
【About Links】
Links are free to use.