Smartphone Display Market Size

Smartphone Display Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The display market for smartphones is expected to grow rapidly. The current market of $ 64.3 billion in 2024 is expected to grow to $ 129.3 billion by 2032. A high annual growth rate of 8.1% is expected during the forecast period. The growing demand for high-resolution displays and the increasing use of OLED and AMOLED screens are the main drivers of this growth. With consumers demanding a higher quality of experience for gaming, live streaming and augmented reality, manufacturers are under pressure to continue to develop and improve display quality. The major players in the display market, such as Samsung Display, LG Display and BOE Technology, are investing heavily in research and development to advance display technology. Strategic alliances, expansion of production capacity and the development of next-generation displays are key to maintaining their competitive advantage. The recent development of Samsung's foldable screen has not only set a new standard for the industry, but has also opened up a new market.

Regional Market Size

Regional Deep Dive

The Smartphone Display Market is characterized by technological advancements and the increasing demand for smartphones across various regions. North America is the largest market for premium smartphones, which are characterized by advanced display technology. Europe combines innovation with a growing emphasis on sustainable materials in the production of displays. The Asia-Pacific region is the center of the manufacturing industry, with China and South Korea making significant contributions. The Middle East and Africa are experiencing a steady uptake of smartphones as a result of the improving economic situation. Latin America, which is lagging behind technologically, is experiencing a rapid rise in the use of smartphones due to the availability of affordable devices and the increasing availability of the Internet.

North America

• The arrival of OLED and AMOLED technology from companies such as Apple and Samsung has led to a significant improvement in display quality, resulting in a greater preference for high-end devices.
• The industry is also being pushed by a new law to make screens more sustainable, and companies like LG Display are leading the way.
• The arrival of 5G technology is a powerful incentive for consumers to want bigger and better screens, as they are demanding an improved entertainment experience.

Europe

• The display is a great dividing line between the two continents. European manufacturers are now concentrating on putting augmented reality into the screens of their phones, and the likes of Sony and Nokia are investing in new display technology.
• The European Union’s strict regulations on the disposal of electrical and electronic equipment have forced manufacturers of mobile phones to develop displays that are easier to dispose of and made of more sustainable materials.
• The preference in Europe is shifting to the foldable screen, and brands such as Samsung and Huawei have released products to meet this trend.

Asia-Pacific

• Chinese companies have long been the world's top producers of mobile phone displays, including BOE Technology and Tianma Microelectronics, which dominate the production of LCD and OLED panels.
• The gaming industry in Asia-Pacific is growing rapidly, driving the demand for fast-refreshing monitors. Several brands, such as Asustek, ASUS, and Razer, have focused on this market.
• Government support for research and development in the field of display technology in countries like South Korea is promoting innovation and market competitiveness.

MEA

• It is not a coincidence that the two companies which have been in the news lately, namely, Tecno and Infinix, have also been launching smart phones, albeit with lower-priced displays.
• A governmental push to improve the telecommunications network has made smart phones more accessible, and this has increased the demand for better screens.
• Culture, especially the growing popularity of social media, has made the use of high-quality displays a requirement.

Latin America

• The rise of budget phones with good screens is driven by the success of companies like Motorola and Xiaomi in the region.
• Government initiatives to improve Internet access have facilitated the spread of smart phones, which have in turn increased the demand for displays.
• Culture is a major factor in the preference for large and high-resolution displays.

Did You Know?

“In the United States, over seventy percent of smartphone users are concerned about the quality of the screen when buying a new phone.” — Statista, 2023

Segmental Market Size

The smartphone display market is a dynamic, vitally important part of the entire smartphone market, which is currently experiencing a high growth rate. A key driver is the increasing popularity of high-resolution displays, in particular OLED and AMOLED, which provide vivid colours and enhanced energy efficiency. Also, the growth in gaming and multimedia consumption on smartphones is driving the need for larger, high-quality screens.

The market is now at a stage of maturity. The leaders are still the likes of Samsung and LG, and they are pushing ahead in the most developed markets, especially in Asia-Pacific, where the penetration of mobile phones is high. The main applications are mobile gaming, augmented reality and the transmission of high-resolution images. The advanced display capabilities of products like the Samsung Galaxy S range are the result of these developments. Besides these applications, other trends, such as the drive for sustainable development, are also driving growth, as manufacturers are looking for new materials and more sustainable production methods. These include the development of flexible displays and the introduction of cameras under the display, which are set to change the way we interact with devices and change the design of mobile phones.

Future Outlook

The report is titled, “Smartphone Display Market: Growth Prospects, 2024–2032,” and projects a CAGR of 8.1% between 2024 and 2032. High-resolution displays, especially OLED and AMOLED, are becoming the standard in premium smartphones. The report also points out that the importance of visual quality is growing as consumers demand improved entertainment experiences. By 2032, the penetration of advanced display technology is expected to rise to 75% from 50% in 2024. This trend will be driven by consumer preferences and by manufacturers’ need to differentiate their products from the competition.

The foldable and flexible display is a major development in the evolution of the smart phone. The future of smart phones is in the display. Besides, the integration of augmented reality and virtual reality into smart phones will require displays with higher refresh rates and higher color accuracy. The demand for these displays will also be driven by the need to meet the goals of the circular economy and to reduce the number of products going to the garbage dump. The smart phone display market will evolve quickly, with mini-LED and micro-LED lighting systems becoming more and more important. They will enhance the user experience and thus drive market growth.