According to experts at Omdia, the demand for IT display products, including mobile PCs and monitors, experienced a decline in 2023, despite a decrease in prices. The demand for TV displays also saw a decrease, but LCD TV display prices exhibited an increase due to production-to-order policies by display makers. However, Omdia predicts that the supply and demand for large area displays will balance out in 2024, particularly in the latter half of the year.
After a period of accelerated demand for IT and TV displays during the pandemic in 2020 and 2021, followed by stagnation in 2022 and 2023, display makers are now foreseeing a recovery in demand in 2024. This expected recovery coincides with major sporting events scheduled for mid-2024, which are anticipated to act as catalysts for economic recovery.
It is projected that TV displays will lead the shipment of large-area displays in 2024, accounting for 77.1% of the total. This is primarily due to the migration of LCD TV display sizes. Shipments of LCDs with sizes of 98 inches and above are expected to increase by 81.6% year over year, with 1.17 million units shipped in 2024, compared to 0.65 million units in 2023.
In terms of revenue, large-area displays generated $61.1 billion in 2023, experiencing a decline of 7.2% compared to the previous year. The slower demand for IT displays and the recovery of prices contributed to this decline. However, TV display revenue increased by 12.3% year over year, primarily driven by price hikes until the third quarter of 2023. Looking ahead to 2024, revenue for large-area displays is forecasted to reach $74.2 billion, representing a significant 21.4% increase year over year. This growth is expected to be supported by both shipment and price recovery.
In terms of market share, BOE led the large-area display unit shipments in 2023 with a 33% share, followed by Innolux at 14.1% and AUO at 11.2%. It is predicted that in 2024, BOE will maintain its lead with a market share of 31.1%, followed by Innolux at 12.5% and China Star at 12.2%.
Omdia, a technology research and advisory group, offers valuable insights and expertise in the tech market. Their in-depth knowledge of the industry allows organizations to make informed decisions to drive smart growth.
In addition to the information provided in the article, it is important to consider current market trends and forecasts for IT and TV display demand in 2024. The COVID-19 pandemic has significantly impacted the electronics industry, including the demand for display products. To understand the projected recovery in 2024, it is crucial to examine the market conditions and challenges associated with this subject.
One of the key challenges in the market is the ongoing global semiconductor shortage. This shortage has affected the production and availability of various electronic components, including display panels. The limited supply of semiconductors has led to increased prices and delayed shipments, impacting the overall demand for IT and TV displays.
Another challenge is the shift towards alternative display technologies, such as OLED (Organic Light Emitting Diode) displays. While LCD (Liquid Crystal Display) remains dominant in the market, OLED displays are gaining popularity due to their superior picture quality and flexibility. The increasing adoption of OLED technology in smartphones and premium TVs may impact the demand for LCD displays, potentially affecting the projected recovery in 2024.
In terms of market trends, the demand for larger display sizes, particularly in the TV segment, is expected to continue in 2024. Consumers are increasingly looking for immersive viewing experiences, leading to higher demand for big-screen TVs. As mentioned in the article, shipments of LCDs with sizes of 98 inches and above are projected to see significant growth in 2024.
Furthermore, the adoption of 8K resolution displays is likely to drive demand in the TV market. 8K offers four times the resolution of 4K displays, delivering sharper and more detailed images. With advancements in content creation and streaming services supporting 8K, consumers are expected to show increased interest in upgrading to higher-resolution TVs.
While there are advantages to the projected recovery, such as increased revenue and shipment growth, there are also disadvantages and risks. The global economic landscape and potential geopolitical tensions can impact consumer sentiment and purchasing power, affecting the demand for IT and TV displays.
In terms of advantages, the anticipated recovery in demand for IT and TV displays in 2024 presents opportunities for display makers to increase production and generate higher revenue. It allows organizations in the display industry to plan for the future and make strategic decisions for growth.
To further explore the subject and gain additional insights, the following related link to the Omdia website can be helpful: Omdia (https://www.omdia.com/). Omdia’s expertise in technology research and advisory services can provide in-depth analysis and forecasts for the IT and TV display market, helping organizations stay informed and make informed decisions.