India Display Market Size Forecast to Reach $18.64 Billion by 2027

India Display Market Size Forecast to Reach $18.64 Billion by 2027

“India Display Market | IndustryARC”
Growing Demand for Consumer Electronics Driving the Growth of India Display Market.

India Display Market size is forecast to reach $18.64 billion by 2027, at a CAGR of 11.7% during 2022-2027. Significant adoption of signage and interactive displays by various industry verticals, including, healthcare, education, sports and entertainment for the purpose of branding, advertisement and broadcasting has influenced the Indian Display market positively. The successful adoption of digitalization such as such as automation, artificial intelligence (AI), the Internet of Things (IoT) across various industries in India, promote substantial adoption of Organic Ligth Emitting Diodes (OLED) and Light Emitting Diode (LED) displays adn replacement of Liquid Crystal Display (LCD) and Cathode Ray Tube Displays in various applications for TVs, video wall, and digital signage applications, thereby accentuate the demand for India Displays market. The next-generation display solutions are offering depth perception to the viewers, and in addition, the promising deployment of breakthrough sensor technology and collaboration displays such as Electroluminescent Displays across corporate offices, educational institutions, government organizations, along with residential arenas are deliberately turning vision into reality, resulting in the growth of the India Displays Market. In order to create bespoke projective capacity, leading brands such as Samsung, Huawei Technologies Co., Ltd., Vizio Inc. and more are constantly striving for various displays innovation in finished products, including smartphones, TVs, and various electronic solutions, which eventually promote the growth of the Indian Display market.

India Display Market Segment Analysis – By Panel Size

Large display size is estimated to be  $1.96 Billion in 2021 and is analyzed to grow at a CAGR of 13.73% during forecast period 2022-2027. High adoption of digital signage as well as interactive displays by end users from the commercial sector and rising demand for 4K and 8K high-resolution commercial-grade large panel displays from healthcare, sports & entertainment and education industry are the key factors that driving the market of Large display which further influences the growth of the Indian Display Market. Huge growth in advertising industry is one of the factor that indirectly influences the market growth. According to data from ibef, advertising industry is estimated to be the second fastest growing advertising market in Asia after China. The government of India is promoting the use digital advertisement. For instance, in December 2020, Indian Railways announced to work on a new advertising policy i.e. installing of 100,000 digital screens at 2,175 railway stations across the country, which is anticipated to generate US$ 1.76 billion revenue annually., thus influencing the market growth.

India Display Market Segment Analysis – By Vertical Outlook

Consumer Electronics industry is analysed to be $6.85 Billion in 2021, and is contributing significantly towards the growth of Displays Market in India, and also is estimated to grow at a CAGR of 11.4% during 2022 to 2027 India has showed a huge potential for consumer electronic market growth in last few years and is analysed to be a manufacturing hub for various consumer electronics solutions during the forecast period owing to increasing investments in this sector. This tend to bring significant growth in the India Displays Market in consumer electronics industry. The growth of Display solutions for Consumer electronics industry is majorly driven by the increasing technological advancement in offering various display solution in television sets, laptops, smartphones and many others electronic devices. According to India Brand Equity Foundation (IBEF), smartphone shipments in India increased by 82% Y-o-Y to reach 33.0 million units in the second quarter of 2021. Xiaomi led the Indian smartphones market with 28.4%, followed by Samsung 17.7%. This tend to drive the India displays market in smartphones product segment.

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India Display Market Segment Analysis – By Geography

The North India is analysed to be $ 2.99 Billion in 2021, and is successfully contributing towards the growth of Displays Market in India, and is also estimated to grow at a CAGR of 11.54% during 2022 to 2027. The prominent support from the Government of India, eminent scientific research and sizable investment in various sectors, including, healthcare, agriculture, and space research, have incurred a noteworthy opportunity for the India Displays Industry. In addition, Uttar Pradesh has emerged as a primary hub for IT & ITeS industries, such as software, electronics, business process outsourcing (BPO)and others. The impact of the Modi government’s PLI (Production-Linked-Incentive)scheme promoted the contribution of manufacturing sectors, and received a great response from many global industries earlier, such as Samsung from South Korea, Pegatron, Wistron, Foxconn and Hon Hai from Taiwan, and others. In July 2021, the Digital India campaign with the initiative of Yogi Adityanath government has gained immense momentum as there are massive investment in the information technology (IT) sector in the Uttar Pradesh state. The renowned companies such as Vivo, Oppo, Samsung, Formi and Lava are all set to invest for their state-of-art manufacturing their units in the state.

India Display Market Drivers

Growing Demand for Consumer Electronics

Displays are the portals to the digital data universe. They allow data to be displayed in a way that is understandable to humans. The display component business has spawned far bigger, more leveraged companies that make and sell display-centric electronic goods. The adoption of displays is anticipated to be fuelled by rising demand for consumer devices such as smartphones, televisions, and laptops, among other things, as well as increased internet penetration. Other elements driving greater market demand include the government’s drive for electronics production in the country and the country’s expanding digitalization. According to the ICEA, the Indian market demand for ‘displays’ is expected to reach USD 60 billion over the next five years, owing to a growing consumer market for display-centric goods and a focus on electronics production. According to Invest India, the worldwide electronics market is projected to be worth more than $2 trillion. India’s global electronics manufacturing share has increased from 1.3 percent in 2012 to 3.6 percent in 2019. Technology revolutions such as the deployment of 5G networks and IoT are accelerating the uptake of electronics devices. Initiatives such as the ‘Digital India’ and ‘Smart City’ programmes have increased market demand for IoT and will definitely usher in a new age for electronic items. By 2025, India’s digital economy is anticipated to be worth $1 trillion. By 2025, the Indian Electronics Manufacturing Service (EMS) Industry is predicted to increase 6.5 times from $23.5 billion to $152 billion. India produces about 600 mobile phone devices each minute, equating to more than $ 55 000 in output per minute. Furthermore, 160 phones are sold online per minute.

The increased usage of automated equipment has a beneficial influence on market expansion

The need for sophisticated equipment and software systems is being driven by an increased need for greater productivity as well as the manufacture of high-quality products. The implementation of modern production techniques and processes offered by automation can meet this requirement. Various industries are adopting automated equipment for various purposes and this adoption has a significant influence on Displays, which are accessible in high efficiency at cheap cost and are likely to boost market growth. Embedded devices are widely utilised because they have a long lifespan and great scalability, as well as high intensity, brightness, and other features. Affordable prices, efficient brightness, and longer life are driving the organic light emitting diode and liquid crystal Display market, which is expected to develop at the quickest rate over the projected period. The increased implementation of Displays in the medical, education, and automotive sectors is projected to propel the market forward. The need for connected automobiles with sophisticated technology is expanding in response to the growing desire for increased safety, comfort, and convenience. Temperature display, Bluetooth and hands-free communication, navigation, turn signals, and microphone are just a few of the uses for smart mirrors in the automobile industry. As a result, the market is growing due to rising demand for smart display mirrors in the automobile sector.

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India Display Market Challenges

Drop  in demand for displays from the retail sector as a result of a significant move toward online advertising and shopping

The retail industry’s allure will always be based on a physical encounter. As a result, the responsibility of engaging the audience and improving their experience is constantly a concern for the shop. For all merchants, LED displays eliminate this issue. Large-format LED displays leave no imprint on the appearance of a product or service. They are high-brightness, dynamic LED displays that generate a buzz and excite the brand’s interior or outdoor environment while also improving footfall and income. Digital advertising has evolved into something more intelligent, tailored, and relevant. Consumers are spending more time online than ever before, and digital advertising is the best method to reach them across many devices and channels. As a result, in recent years, internet advertising has become more popular. Furthermore, the ubiquitous availability of the internet has resulted in a massive increase in digital advertising. Increased online advertising spending by large firms such as Facebook and Google is also a key influence in the increased use of internet advertising. Also increasing popularity is programmable advertising. The use of automated tools and data to make media buying choices without the intervention of humans is referred to as programmatic advertising. As a result, the need for displays, which were formerly used to advertise items and brands in stores and commercial locations, has drastically diminished

India Display Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the India Display market. In 2020, the market of India Display market has been consolidated by the top players

Samsung
LG
Sharp
Innolux
BOE Technology
Sony
AU Optronics
Videocon
Dixon Technologies
Minda Industries
NEC

Launches/Acquisitions

In January 2021, Samsung announced 10-inch MICRO LED screen  to provide spectacularly immersive viewing experience with astonishing  picture quality. The company also introduced The Serif, Frame, Sero and Terrace, a presently launched 4K QLED outdoor TV as well as The Premiere, a cinema-like quality 4K laser projector in 2021 Consumer Electronics Show (CES).

In January 2021, LG Display, a global leader in display technologies, announced that it would showcase the world’s first 48-inch Bendable Cinematic Sound OLED (CSO) display which was designed for gaming purpose.

Key Takeaways

A surge in demand for consumer electronics such as smartphone, laptop, television, and other electronic devices, along with growing penetration of internet are estimated to influence the adoption of varied display technologies.

The leading companies such as Vivo, Oppo, Samsung, Formi, Huawei Technologies Co., Ltd., Vizio Inc. and Lava are focussing on extensive research and developments activities in order to offer exemplary display solutions, which offer immersive visual experience and other advanced incorporation to stay competitive in the market. Several launch of multi-touch display, stretchable display and other new product are introduced that offers 2D and 3D solutions.

According to India Cellular & Electronics Association (ICEA), India has the potential to achieve a value of $100 billion in manufacturing of laptops and tablets by 2025 owing to the setting up of various manufacturing units across India which is anticipated to drive the India Displays Market in laptops and tablets product segment.

Furthermore, as stated by the India Brand Equity Foundation (IBEF), India’s automotive component industry’s revenue stood at $49.3 billion in 2020, elevating from $39.05 billion in 2016, owing to the increasing investment for manufacturing units in India. This trend significantly  bring growth in the demand of various display solutions for automotive sector. 

Relevant Report

Interactive Display Market

https://www.industryarc.com/Report/16315/interactive-display-market.html

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