A new report has revealed that the global shipments of small to mid sized LCD panels will remain steady for at least the next 5 year period. It is being forecasted that the displays will reach 1.82 billion units in 2025, despite seeing an on year fall of 19.7 percent to 1.81 billion units in 2020 due to the Coronavirus pandemic.
According to a DigiTimes report, the demand for smartphone displays is currently the largest application segment for small to mid sized LCD panels. Furthermore, this segment is expected to recover in 2021. The report states that the global handset Display shipments will grow by a CAGR (compound annual growth rate) of 3.1 percent from 2020 to 2025, with smartphone applications rising at a higher CAGR of 5.9 percent.
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Although, this also includes AMOLED displays, which are expected to reach 40 percent of the total handset display panel segment by 2023. This would result in the LCD smartphone display’s CAGR fall by 0.8 percent during the five year period, as per estimation. For those unaware, AMOLED panels have been growing in popularity with each passing year.
However, the rise of IoT applications within the industry for automotive, smart speakers, and household appliances will have the related IoT applications aso boost the sales of small to mid sized LCD panels starting from 2022. The report estimates that these displays for IoT applications will grow by a CAGR of 6.1 percent between 2020 to 2025.
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