Display Component Market Projected to Grow at a CAGR of 3.5% By 2029

Research Nester has released a report titled Display Component Market: Global Demand Analysis & Opportunity Outlook 2029” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.

Smartphone ownership in the United States, according to the statistics by the Pew Research Center, grew from 35% on May 21, 2011 to 85% on February 7, 2021.

The statistics portray the growing adoption of smartphones, backed by the rising urbanization worldwide and the increasing advancements in cellular network technology. The smartphones are equipped with display components that allows the user to operate its functionalities. With the increasing sales of smartphones worldwide, the demand for display components is expected to grow significantly, and in turn drive the growth of the global display component market in the coming years.

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The global display component market is anticipated to grow with a CAGR of 3.5% over the forecast period, i.e., 2021 – 2029. The market is estimated to garner a revenue of USD 386173.3 Million by the end of 2029, up from a revenue of USD 283894.8 Million in 2020. The market is segmented on the basis of end-products into monitors, laptops, televisions, smartphones, tablets, automotive displays, and others. The smartphones segment garnered the largest market revenue of USD 133035.9 Million in 2020 and is further projected to retain this position by attaining a marker revenue of USD 168789.8 Million by the end of 2029. Moreover, the market is also segmented by technology into LCD display, LED display, OLED, plasma display, and others, out of which, the LED display segment is anticipated to hold the highest market share throughout the forecast period and also attain the largest market revenue of USD 184609.8 Million by the end of 2029.

The global display component market is segmented on the basis of region into North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in Latin America garnered the largest market revenue of USD 131152.2 Million in the year 2020 and is further projected to reach USD 173985.2 Million by the end of 2029 by growing with a CAGR of 3.2% during the forecast period.

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“The Final Report will cover the impact analysis of COVID-19 on this industry.”

However, the availability of alternatives is one of the major factors anticipated to hamper the growth of the global display component market.

This report also provides the existing competitive scenario of some of the key players of the global display component market, which includes company profiling of LG Electronics, Innolux Corporation, NEC Corporation, Panasonic Corporation, AU Optronics Corp., Sony Corporation, Samsung Group, Leyard Group, BOE Technology Group Co., Ltd.

The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Display Component Market: Global Demand Analysis & Opportunity Outlook 2029”, analyses the overall global display component industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global display component market in the near future.

Curious about this latest version of report? Obtain Report Details @ https://www.researchnester.com/reports/display-component-market/3426

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Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment, etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.

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