Market Size –
The backlit displays market size has grown strongly in recent years. It will grow from $32.79 billion in 2023 to $35.92 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%. The growth in the historic period can be attributed to transition to LED backlighting, rise of high-resolution displays, smartphone proliferation, growth of the consumer electronics market, digital signage expansion.
The backlit displays market size is expected to see strong growth in the next few years. It will grow to $49.23 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to automotive display innovations, augmented and virtual reality growth, focus on energy efficiency, rise in remote work and education, advancements in flexible displays. Major trends in the forecast period include advancements in quantum dot technology, continued evolution of micro LED displays, smart home integration, and grid modernization initiatives.
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Scope Of Backlit Displays Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Backlit Displays Market Overview
Market Drivers –
The growth of e-commerce is expected to propel the growth of the backlit displays market moving forward. E-commerce refers to the buying and selling of goods and services over the Internet or other electronic systems. The exponential growth of e-commerce due to the combination of convenience, accessibility, competitive pricing, and personalized shopping experiences transformed traditional retail, offering convenience and accessibility to a global consumer base. Backlit displays are an essential component of e-commerce platforms, helping to create visually appealing and engaging shopping experiences that drive sales and customer satisfaction. For instance, in November 2023, according to the United States Census Bureau, a US-based government agency, total e-commerce sales in 2023 reached $1,118.7 billion, marking a 7.6% increase from 2022. Further, total e-commerce sales in 2023 constituted 15.4 percent, compared to 14.7% in 2022. Therefore, the growth of e-commerce is driving the growth of the backlit displays market.
Market Trends –
Major companies operating in the backlit display market focus on developing innovative technologies, such as Meta technology, to meet customers’ evolving needs and preferences. META technology comprises a microlens array and META booster, which aim to enhance the performance of the organic light-emitting diode (OLED) television panels. For instance, in January 2023, LG Display, a South Korea-based display panel manufacturing company, launched META technology, comprising a Micro Lens Array that maximizes light emission from the OLED panel and META Booster, a brightness-enhancing algorithm. These components improve light emission and brightness, improving image quality and the visual experience.
The backlit displays market covered in this report is segmented –
1) By Type: Trade Show Displays, Fabric Display, Vector Frame, Silicone-Edge Graphics (SEG) Popup Display, Other Types
2) By Technology: Light Emitting Diode (LED), Liquid Crystal Display (LCD), Cold Cathode Fluorescent Lamps (CCFL), Other Technologies
3) By Application: Trade Shows, Events, Shopping Malls, Theatres, Airports, Retail Outlets, Other Applications
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Regional Insights –
North America was the largest region in the backlit display market in 2023. The regions covered in the backlit displays market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the backlit displays market are Samsung Electronics Co. Ltd., NEC Corporation, BOE Technology Group Co. Ltd., LG Display Co. Ltd., Sharp Corporation, Epson America Inc., Acer Inc., Innolux Corporation, AU Optronics Corporation, Tianma Microelectronics Co. Ltd., Japan Display Inc., Barco NV, Visionox Technology Co. Ltd., BenQ Corporation, HannStar Display Corporation, ViewSonic Corporation, Abex Exhibits LLC, Nomadic Display, Featherlite Exhibits Corporation, The Godfrey Group Inc., TPV Technology Ltd., Poster Garden LLC, Megaprint Inc., ABL Imaging Group Inc., Creative Displays Inc., ELO Touch Solutions Inc., Power Graphics Digital Imaging Inc., Redcliffe Imaging Limited, Skyline Exhibits Inc., Camelback Displays Inc.
Table of Contents
1. Executive Summary
2. Backlit Displays Market Characteristics
3. Backlit Displays Market Trends And Strategies
4. Backlit Displays Market – Macro Economic Scenario
5. Global Backlit Displays Market Size and Growth
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31. Backlit Displays Market Other Major And Innovative Companies
32. Global Backlit Displays Market Competitive Benchmarking
33. Global Backlit Displays Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Backlit Displays Market
35. Backlit Displays Market Future Outlook and Potential Analysis
36.Appendix
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