Omdia: Chinese manufacturer TFT-LCD industrial display panels accounted for 59% of global shipments last year

According to the latest data from "Omdia Industrial and Utility Display Panels and OEM Intelligence Service", the application scenarios of industrial display panels in specific vertical markets have increased, including entertainment, human-machine interface, fitness, medical, smart retail, transportation, Touch displays, smart home and office, industrial, outdoor, rugged displays, etc.

Omdia’s comprehensive report focuses on mainstream industrial display panel applications, and has recently expanded the report’s scope and sub-applications to 50 products. The report pointed out that by the end of 2023, shipments of industrial display panels are expected to drop to 355 million units, a year-on-year decrease of 8.8%.

According to Omdia, demand for industrial display panels will steadily rebound from the second half of 2024, with a year-on-year growth of 10% within one year. In 2023, industrial display panels generally face problems such as overbooking, inflation, and high inventory.

However, there are still some innovative application products that will be put into mass production before the end of 2023, such as projectors, electronic door locks, Internet celebrity machines and desktop live broadcast equipment. As shown in Figure 1, Omdia expects demand for industrial display panels to rebound from 2024 to 2026.

Thin film transistor (TFT) liquid crystal display (LCD) remains the mainstream display technology for industrial display panels and is expected to account for 48% of industrial display panel shipments in 2023.

The remaining 52% are passive matrix organic electroluminescent diode (PMOLED), passive liquid crystal display (PMLCD), active matrix organic electroluminescent diode (AMOLED) and passive electronic paper display (PMEPD) technologies .

The size of TFT-LCD industrial display panels is mainly between 1 and 27 inches, with panels of 10.1 inches and below accounting for over 50% of shipments.

Industrial panels are highly customized products. In order to meet different environmental needs, there are a variety of panel specifications to choose from. Panel manufacturers can provide semi-finished panels (open cells), modules, touch panel modules or complete monitors without backlight assembly. Supply chain relationships are complex, and there are many competitive and cooperative relationships in vertical markets, all of which help to improve the competitiveness and uniqueness of products.

The main industrial display panel manufacturers include Tianma, BOE, Innolux, Daqing and Truly. It is estimated that by 2023, Chinese display panel manufacturers will occupy the top spot in industrial display panel shipments with a 59% share.

In this regard, Huang Ziyu, chief analyst of Omdia Display Research, said: "Recently, some Korean and Chinese panel manufacturers have been quite active in investing in AMOLED display technology, not only applying this technology to IT display panels, but also seizing the potential Market opportunities in the industrial display panel industry. For example, some industrial applications have begun to use AMOLED display panels to replace TFT-LCD display panels. Applications include household appliances, handheld game consoles, translation pens, portable monitors, gas stations, industrial handheld devices and in-flight entertainment System."

Huang Ziyu concluded: "Omdia predicts that AMOLED display panels contain growth potential for industrial display applications in the next few years. However, TFT-LCD is still the current mainstream display technology. Therefore, it continues to be Developing innovative industrial display applications in vertical markets is key to sustaining and driving business opportunity growth in the coming years.”

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