The development of the display industry

The display industry has experienced significant growth in recent years with the introduction of new display technologies. Various types of displays are now available, such as OLED, LCD, LED, and QLED. The industry has also seen an increase in demand for flexible displays and displays with higher resolution and refresh rates.

The government has issued a series of policies to encourage the development and innovation of the new display industry, providing a favorable development environment for the display industry.

According to data, the global shipment of displays in 2023 decreased by 7.3% YoY, reaching only 125 million units, which is below the level before the outbreak in 2019. This may be due to the poor global economic situation and reduced demand for displays by consumers. However, it is expected that the market will recover in 2024 with an expected growth of 2%, reaching approximately 128 million units. This indicates that as the economy gradually recovers and consumer demand picks up, the global display market is expected to return to a growth trajectory. The shipment of displays in the Chinese market in 2022 was 25.83 million units, a YoY decrease of 20.1%. This indicates a certain challenge for the Chinese display market in the context of weak market demand and pressure throughout the industry chain.

The competition in the global LCD display industry is becoming increasingly fierce, and leading enterprises are occupying advantageous positions with their technical capabilities and market layouts. Faced with the challenges of new display technologies and intensifying market competition, display companies need to continue to innovate and strive to maintain their competitive advantages and achieve sustainable development.