Taiwan Display Market Overview, 2029

Taiwan's display market is a global leader, distinguished by a strong presence in several display technologies. The landscape includes LCD, OLED, and future technologies such as Micro-LED, with important manufacturers like AUO and Innolux always pushing the envelope for thinner, lighter, and more energy-efficient panels. Although LCD remains the leading technology, OLED is gaining popularity, particularly in premium smartphones, due to its higher contrast and viewing angles. Micro-LED, while still in the research phase, has promise for future uses due to its enhanced visuals and versatility. In terms of culture and trends, Taiwanese manufacturers place a premium on quality and dependability, making them the chosen provider of high-end displays. The market is seeing a trend toward smart displays, which are distinguished by the combination of touchscreens, AI, and voice recognition, which is propelling growth in this area. Recent industry trends show an emphasis on boosting manufacturing capacity for OLED and LTPS displays, reflecting manufacturers' efforts to accommodate rising demand for these technologies. Simultaneously, continuous research and development efforts in Micro-LED and foldable display technologies demonstrate the industry's dedication to innovation and meeting changing consumer demands. Furthermore, mergers and acquisitions in the display panel industry indicate a tendency toward consolidation, as companies strive to streamline operations and increase competitiveness in a quickly changing market landscape. According to the research report “ Taiwan Display Market Overview, 2029," published by Bonafide Research, the Taiwan Display market is expected to grow at more than 8% from 2024 to 2029. Taiwan's display market trajectory is shaped by a variety of factors and barriers. Rising demand for larger, higher-resolution displays in televisions, laptops, and smartphones, as well as the expansion of smart home solutions and wearable technology, are important drivers. However, the industry confronts fierce competition from mainland China and South Korea, as well as price constraints caused by the commoditization of LCD panels. In addition, developing display technologies such as Micro-LED demand a significant initial investment. In terms of policy and regulations, Taiwan follows worldwide safety and environmental norms. Government efforts play an important role in fostering research and development (R&D) in next-generation displays, allowing for more innovation and worldwide competitiveness. In terms of pricing and segmentation, the display panel market varies depending on display size, technology (LCD versus OLED), and features. High-resolution, huge displays command higher prices, indicating consumer demand for better visual experiences.

The display market can be segmented based on various factors, including panel size, display type, display technology, application, and industrial vertical. In terms of panel size, displays can range from microdisplays, which are small and often used in devices like VR headsets and smart glasses, to large panels, which are expansive screens utilised in settings such as conference rooms and outdoor advertising displays. Display types encompass flat panel displays, flexible panel displays, and transparent panel displays, each offering distinct features and applications. Display technology further diversifies the market, with options like LCD, OLED, Micro-LED, and Direct-View LED, each providing unique advantages in terms of image quality, energy efficiency, and durability. Application-wise, displays find use in smartphones, tablets, TVs, digital signage, PCs, laptops, vehicle displays, and more, catering to a wide range of consumer and commercial needs. Finally, industrial verticals such as consumer electronics, retail, BFSI, healthcare, automotive, and military and defence drive demand for displays tailored to specific requirements within each sector. By segmenting the display market along these lines, manufacturers and stakeholders can better understand the diverse needs of consumers and industries, enabling targeted product development and marketing strategies to meet evolving demands and preferences. The expanding usage of smart displays across industries creates a substantial potential for companies in the display panel market. Events like Display Innovation Taiwan (DIT) provide opportunities for showcasing cutting-edge technologies and attracting worldwide players, allowing information exchange and collaboration. Taiwan distinguishes out as a key display exporter, with a significant influence in global supply chains. This strong export position demonstrates Taiwan's relevance in the display market and creates an enabling climate for industry players to prosper. Established businesses dominate the market, employing their experience and resources to preserve their position. Meanwhile, new entrants may go toward specialised markets or developing technologies such as Micro-LED to carve out a market share and distinguish themselves from competitors. This range of offerings adds to the industry's overall dynamic by encouraging innovation and driving technological developments. Taiwan stands out among its regional peers for its display technology strengths, which are similar to those of South Korea, where Samsung is a significant competitor. Both countries have made great progress in this area, fostering innovation and competitiveness. Mainland China, on the other hand, has a rapidly expanding display industry; yet, concerns about product quality and intellectual property protection remain. While Taiwan competes with these regional powerhouses, it maintains a reputation for dependability and high-quality manufacturing processes, both of which are critical in today's competitive global marketplace. Taiwan's display panel sector is significantly reliant on foreign supplies including glass substrates and colour filters. Despite this dependence, the government has launched steps to diversify supply chains and reduce reliance on a single supplier. Such measures are critical for reducing the risks associated with global supply chain interruptions while also assuring production stability and continuity. Taiwan aims to increase its resilience and competitiveness in the display technology sector by promoting partnerships and investigating alternate sources for essential materials. The COVID-19 epidemic brought both obstacles and possibilities to Taiwan's display panel sector. Supply chain restrictions and manpower shortages caused temporary interruptions, which had an influence on production schedules and delivery times. However, growing demand for laptops and monitors due to remote work and online learning has largely offset these problems. As the world acclimated to new ways of working and interacting remotely, the need for electronic gadgets increased.

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Manmayi Raval

Research Consultant

Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Display market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Panel Size • Micro displays • Small & Medium-sized Panels • Large Panels

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By Display type • Flat Panel Display • flexible Panel Display • Transparent Panel Display By Display technology • LCD • OLED • Micro-LED • Direct-View LED • Others By Application • Smartphone and Tablet • Smart Wearable • Television and Digital Signage • PC and Laptop • Vehicle Display • Others By Industrial Vertical • Consumer Electronics • Retail • BFSI • Health care • Automotive • Military and defence • Others The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Display industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.