Published By : 11 Nov 2016 | Published By : QYRESEARCH
The consumer electronics market is expanding continuously and is also evolving consistently as developments in technology take place. This growth in the electronics market has in turn fueled the demand for terminal LCD displays. Consumer electronics are being developed as per changing requirements of consumers. The rising disposable income and the desire to own technologically advanced devices are driving the terminal LCD displays market. The decreasing costs of electronics have increased the sales of electronics and this in turn has benefitted the global terminal LCD displays market.
Players are increasingly investing in research and development and this has led to the introduction of high performance TFT LCDs which is addressing the need for information-intensive abd reliable medical diagnostic displays. Thus, these displays have their applications also in the medical sector. According to a report published by a Transparency Market Research, the global terminal LCD displays market is expected to rise from US$13.09 bn in 2014 to US$18.50 bn by 2022, expanding at a 4.3% CAGR between 2015 and 2022.
Increased Competition from OLED Technology to Hamper Terminal LCD Displays Market
The global terminal LCD displays market faces stiff competition from various other terminal displays. The use of alternative terminal LCD displays especially in mobile devices and laptops is one of the factors restraining the growth of the market. Competition is tough especially since OLEDs are becoming increasingly popular owing to the high picture quality provided when compared to LCD terminal displays. Such alternatives are becoming the preference for manufacturers and consumers as they are more energy efficient and also cost effective. OLED technology are being used across the healthcare, automotive, consumer electronics, lighting, clothing, medical devices, and transport industries.
New Entrants to Face Low Entry Barriers
The global terminal LCD displays market is capital intensive, which can be a deterring factor for new entrants. However, the fact that suppliers and distributors are accessible to even the new entrants, makes it easy for new players to enter the market. In addition to this, there are no technical complexities in the manufacturing of terminal LCD displays. This is increasing the probability of new players entering the market and the threat of new players will thus ride from low to medium in the coming years.