LONDON, April 24,
2024 /PRNewswire/ -- Research from Omdia's newly
released Large Area Display Market Tracker 4Q23 has found shipments
of large-area displays (all displays above 9inches), including
both LCD and OLED, are forecasted to increase by 7.4%
year-over-year (YoY) in units and 11.1% YoY in area in 2024.
"In 2023, demand for IT display products such as mobile PCs and
monitors was weaker despite fewer price increases. Demand for TV
displays also decreased , but LCD TV display prices increased
according to display makers' production-to-order policies,
especially for LCDs in 2023," said Peter
Su, Senior Principal Analyst at Omdia.
Omdia expects supply and demand for large area displays to
balance in 2024, particularly in the second half of the year.
"After a period where demand for IT and TV display was pulled
forward during the pandemic in 2020 and 2021 and then frozen in
2022 and 2023, display makers are now anticipating a recovery
demand in 2024. Mid-2024 sporting events will serve as another
catalyst for economic recovery," Su added.
It is expected that TV displays will lead large-area display
area shipment in 2024, accounting for 77.1% of its total thanks to
LCD TV display size migration. Shipments of 98-inch and above LCDs
are expected to reach 1.17 million, up from 0.65 million in 2023,
marking an 81.6% YoY increase in 2024.
Large area display revenue was US$
61.1billion in 2023, a 7.2% YoY decline, due to slower
demand and IT display price recovery. Only TV display revenue
increased by 12.3% YoY, driven by price hikes till 3Q23. Revenue
for large-area displays is forecasted to reach US$74.2billion in 2024, a 21.4%
increase YoY, buoyed by shipment and price recovery.
BOE led the market in large-area display unit shipments with a
33% share in 2023, followed by Innolux at 14.1% and AUO at 11.2%.
In 2024, BOE is expected to maintain this lead at 31.1% market
share, followed by Innolux at 12.5% and China Star at 12.2% respectively.
ABOUT OMDIA
Omdia, part of Informa Tech, is a technology research and
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our actionable insights empower organizations to make smart growth
decisions.
Fasiha Khan
Fasiha.khan@omdia.com
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SOURCE Omdia