Semiconductor and Electronics

Embedded Display Market is Expected to Reach USD 34.52 Billion by 2031

May 2024

Semiconductor and Electronics

As per the report published by Kings Research, the global Embedded Display Market was valued at USD 20.95 billion in 2023 and is projected to reach USD 34.52 billion by 2031, growing at a CAGR of 6.55% from 2024 to 2031.

The adoption of flexible and foldable displays represents a significant advancement in the embedded display market. These innovative display technologies offer unprecedented flexibility and versatility, allowing manufacturers to create new form factors and designs for various devices. Flexible displays, facilitated by advanced materials such as OLED, enable the creation of curved and bendable screens suitable for integration into various electronic devices such as smartphones, wearables, and automotive interiors. These displays provide immersive and user-friendly ergonomic experiences.

Moreover, foldable displays allow devices to transition between compact and expanded modes, offering enhanced multitasking capabilities and portability. The growing adoption of flexible and foldable displays opens up new opportunities for product differentiation and consumer engagement, thereby creating a strong demand. Additionally, ongoing research and development efforts aimed at improving the durability, reliability, and cost-effectiveness of these displays are expected to accelerate their adoption across various industries, including consumer electronics, automotive, and healthcare.

Key Insights

  • Based on the device, the portable segment is expected to register a significant CAGR of 7.50% over the forecast period
  • Based on technology, the liquid crystal display (LCD) segment generated the highest revenue of USD 8.71 billion in 2023
  • By application, the fitness equipment segment is expected to witness the highest CAGR of 8.64% between 2024 and 2031
  • On the basis of region, Asia-Pacific is anticipated to emerge as the fastest-growing region with a CAGR of 8.39% over the forecast period

Growing Demand for Wearable Devices to Offer Lucrative Opportunities for Market Expansion

The growing demand for wearable devices presents lucrative opportunities for the expansion of the embedded display market. Wearable devices such as smartwatches, fitness trackers, and augmented reality (AR) glasses are increasingly integrating embedded displays to provide users with real-time information, notifications, and interactive features. The popularity of wearable devices is driven by consumer demand for health monitoring, fitness tracking, and connectivity on-the-go. Embedded displays play a crucial role in enhancing the functionality and user experience of wearables by providing intuitive interfaces, customizable widgets, and immersive visuals.

Moreover, advancements in display technologies, such as flexible OLEDs, enable manufacturers to create sleeker and more comfortable wearable designs. As the wearable market grows steadily, fueled by advancements in sensor technology, miniaturization, and battery life, the demand for embedded displays in wearable devices is expected to soar, thereby offering significant opportunities for market expansion and innovation.

Proliferation of IoT Devices to Augment  Embedded Display Market Growth

The proliferation of IoT devices is poised to augment the growth of the embedded display market. IoT devices, encompassing smart home appliances, industrial sensors, connected vehicles, and wearable gadgets, rely heavily on embedded displays to provide users with real-time data visualization, status updates, and control interfaces. As the adoption of IoT technology increases across various industries, the demand for embedded displays in IoT devices is expected to surge. Embedded displays enable seamless interaction and user engagement, thereby enhancing the functionality and utility of IoT devices. Additionally, embedded displays play a critical role in facilitating data analytics and decision-making processes by presenting actionable insights in a visually intuitive manner. With the continued expansion of the IoT ecosystem and the integration of embedded displays into various connected devices, the market is anticipated to experience robust growth in the coming years.

Asia-Pacific to Register a Substantial CAGR of 8.39% in the Foreseeable Future

Based on region, the global embedded display market is classified into North America, Europe, Asia-Pacific, MEA, and Latin America.

Asia-Pacific is projected to grow at a significant CAGR over the estimated timeframe. The region's rapid economic development, technological advancements, and expanding consumer electronics industry are contributing to its robust growth. Moreover, increasing investments in automotive manufacturing, IoT infrastructure, and smart device production are bolstering the demand for embedded displays across various applications. Countries such as China, Japan, South Korea, and India are contributing considerably to regional market growth by leveraging their technological expertise and manufacturing capabilities to meet the growing demand for embedded display solutions. Furthermore, supportive government initiatives, favorable business environments, and a burgeoning middle-class population with rising disposable incomes are expected to fuel regional market expansion.

Market Players Concentrating on Innovative Product Launches to Drive Market Development

The global embedded display market is fragmented with key players such as Avnet, Inc., Emerging Display Technologies, Microsoft, ANSYS, Inc., STMicroelectronics, EDT, and others. Companies employ various strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their business globally and enhance their competitive position.

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