Emerging technologies propelling growth in 2024 display market

1st April 2024
Paige West

Recent findings from Omdia predict an 8% year-over-year increase in the demand for display polarizers in 2024, which is anticipated to contribute to a 2% rise in annual revenue, amid stiff price competition and significant capital injections from Chinese producers.

These insights were shared at the Omdia Korea Display Conference Spring 2024, where Irene Heo, Principal Analyst in Omdia’s Displays Practice, provided an update on the display optical film technologies and market outlook for 2024. Heo remarked: “Reviewing market conditions, Omdia forecasts that growth in polarizer demand is expected to surpass 2023 in 2024 despite the uncertainty surrounding this space.” She highlighted the momentum building in polarizer investment, with capacity expanding swiftly. Particularly noteworthy is the projection that by 2027, China will hold nearly 70% of the capacity. Heo added: "Due to fierce price competition and the implementation of ultra-wide-width production lines, shutdowns and restructuring of old lines will accelerate."

The conference, spanning two days, attracted senior industry figures for in-depth discussions led by Omdia’s display analysts on the evolving trends and innovations shaping the display and consumer electronics sectors.

A significant focus was on the advancement and market effects of emerging display technologies. Jerry Kang, Research Manager at Omdia, pointed out a growing trend towards larger OLED display sizes across different applications and formats, attributing this expansion to technological advancements in OLED. Kang stated: “Increasing OLED display sizes is a significant development,” highlighting its role in propelling the industry forward. Moreover, Omdia has identified energy efficiency, enhanced light extraction, and scalability improvements as crucial trends propelling OLED displays in 2024.

The event emphasised the vital importance of innovation and strategic investment in catering to consumer demands and stimulating the display industry's growth. With the advent of novel display technologies such as OLED, MicroLED, and flexible displays, manufacturers are well-positioned to explore new opportunities and redefine visual experiences.

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