LONDON, July 24, 2024 /PRNewswire/ -- According to Omdia's Display long-term demand forecast tracker, overall display area demand in 2024 is projected to increase by 8% in 2024 compared to the previous year. While the global economic uncertainties and rising prices are expected to slow down the growth rate of unit-based demand, the demand for larger-sized displays is anticipated to surge, leading to a significant recovery in area-based demand.

Over the past two years, display demand has experienced negative growth in terms of area for the first time in the history of flat panel displays. This downturn is primarily attributed to the demand cliff effect from the surge in demand during the COVID-19 era and the decline in consumer confidence due to the energy crisis, global inflation, supply chain disruption, and rising raw material prices.

In 2024, the growth rate of display demand based on unit volume is expected to remain similar to the previous year at approximately 1%. However, demand for larger-sized displays is expected to increase steadily due to improved productivity and enhancements in display technology.

According to Ricky Park, Senior Principal Analyst in Omdia's Display research practice, "The 80-inch and larger-sized TV market initially focused on improving profitability and operating rates for panel suppliers, but this year, it is shifting towards significantly expanding consumer demand. Panels are being supplied at lower prices due to improvements in productivity and yield, and they are likely to be released to the market at more attractive prices during the peak season in the second half of this year."

Omdia forecasts show panel suppliers aim to ship 7.8 million 80-inch or larger-sized TV panels this year, a 35% increase from the previous year. In the overall display market, the area-based proportion of displays larger than 80 inches is expected to be around 7% this year, increasing to 11% by 2030. Given that investing in FABs larger than Gen10 in no longer challenging, panel suppliers will maximize the use of existing Gen8 or Gen10 FABs, with the rise in demand expected to improve FAB operation rates.

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Fasiha Khan – Fasiha.khan@omdia.com

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SOURCE Omdia