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.
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