LONDON, Jan. 19,
2025 /PRNewswire/ -- Industrial display panel
shipments are projected to reach 167.9 million units, marking a
significant 10.9% YoY growth for 2024 according to analysis from
Omdia's "Industrial and Public Display & OEM Intelligence
Service". Among 12 industrial display applications, the smart home
and office application segments, among 50 industrial display
sub-applications, topped first place with 46% shipment share.
Within this category, multi-function printers accounted for
22% shipment share totaling 8.6million units with panel sizes under
3-inches and 5million units with sizes ranging 3.1 to 7-inches,
driven largely by AUO Display Plus.
While most of the industrial display demand is expected to
remain stable or decline slightly due to inventory challenges, the
double-digit shipment growth will mainly be fueled by specific
sectors, including 0.96-inch AMOLED panels for e-cigarettes and
8-inch LTPS gaming consoles, with Truly driving much of this
growth. In 2025, industrial display shipments are expected to rise
further to 178 million units, reflecting 6% YoY growth. Omdia
forecasts a rebound in factory automation demand, while the
e-cigarettes and gaming console markets are expected to maintain
their strong performance.
From the perspective of the industrial panel makers which
includes the major industrial display panel makers such as AUO
Display Plus, BOE, Innolux, Tianma and Truly, revenue is estimated
to reach USD 2.1 billion for 2024,
reflecting a slight decline of 3.5% YoY. However, this is expected
to rebound to USD 2.4 billion in
2025, marking a robust YoY growth of 13.6%.
From 2024 to 2025, industrial display supply chain participants
operate with varying business models, balancing cooperation and
competition to diversify product portfolios and drive revenue.
Panel makers like AUO Display Plus, BOE and Truly are increasing
efforts in set and open frame business, some panel makers need to
have revenue first, while some prefer to choose set and open-frame
businesses, which are expected to account for 4.8% of total panel
revenue in 2024.
Geopolitical risks and tariff impact in 2025 pose challenges,
prompting the supply chain to shift production to Southeast Asia and India. Fortunately, many participants,
including touch panel suppliers, panel module houses, ODMs, and
some industrial brands have already established mass production in
Southeast Asia enabling a smoother
transition.
"Higher revenue growth is expected in 2025, driven by
e-cigarettes, game consoles and new applications, such as
two-wheeled vehicles with a-Si display technology," said TzuHu
Huang.
"These vehicles require displays that withstand direct sunlight
and rain leading more stringent specifications."
Additionally, mini LEDs backlight products, planned for slot
machines, marine and professional medical display and drones, are
expected to enter mass production further boosting revenue.
ABOUT OMDIA
Omdia, part of Informa TechTarget, Inc. (Nasdaq: TTGT), is a
technology research and advisory group. Our deep knowledge of tech
markets combined with our actionable insights empower organizations
to make smart growth decisions.
Contact
Fasiha Khan:
fasiha.khan@omdia.com
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SOURCE Omdia