What is Liquid Crystal Display (LCD)?
A type of flat panel display known as an LCD (Liquid Crystal Display) operates primarily on liquid crystals. Since they are used in cellphones, televisions, computers, and instrument panels, LEDs offer a wide range of applications for consumers and businesses. As opposed to LED and gas-display displays, LCDs operate on the idea of blocking light rather than emitting it, hence they require less electricity. LCDs are used in several applications like cockpit displays, calculator displays, digital cameras, television, Computer monitor, panel, digital watches, mobile screens, and video players. The primary consumer of LCD is television. The usage of LCD is increased in several devices due to its low cost and energy, thinner, flexibility, and provides excellent brightness, contrast, resolution, and picture quality.
Here are some of the driving factors that increase the opportunity for the Liquid Crystal Display market:
Growing demand for consumer electronics:
Growing demand for consumer electronics like television, smartphones, laptops, and desktop monitors is fueling the market's growth. Due to the changing lifestyle and urbanization, consumer electronics demand increased. After the pandemic, increasing in digital services, E-learning, and work-from-home mode increases the demand for electronic devices like laptops and smartphones, resulting in a surge in the LCD market. The expanding global consumer electronics market and the need for better visuality help to propel the growth of the market.
Increasing adoption in the automotive sector:
Increasing the use of LCD in automotive displays expands the LCD market growth. LCDs are extensively used in the automotive sector for heads-up displays, instrument clusters, and infotainment systems. The growing automotive sector due to the increase in population and net income increases the demand for vehicles. Increasing demand for smart vehicles and advanced display technologies and integration of driver assistance systems drive the adoption of LCDs in the automotive sector.
Here is the restraining factor that hinders the growth of the LCD Market:
Availability of substitute:
The availability of substitutes like OLED, Quantum Dot Display, and LED is expected to hinder the growth of the market. OLED offers several advantages over LCD like faster response time, brightness, and thinner and more flexible display panels. Moreover, Micro LED displays offer excellent color reproduction and higher brightness than LCD. While Quantum Dot Display is more efficient than LCD in terms of energy, hampering the growth of the market.
Conclusion:
Growing demand for consumer electronics due to increasing digital services, E-learning, and work-from-home mode, fueling the growth of the market. Increasing adoption in automotive displays for heads-up displays, instrument clusters, and infotainment systems increases the demand for LCDs. Increasing R & D helps to expand the market. While the usage of alternatives may limit the growth of the market.
Author's Detail:
Kalyani Raje /
LinkedIn
With a work experience of over 10+ years in the market research and strategy development. I have worked with diverse industries, including FMCG, IT, Telecom, Automotive, Electronics and many others. I also work closely with other departments such as sales, product development, and marketing to understand customer needs and preferences, and develop strategies to meet those needs.
I am committed to staying ahead in the rapidly evolving field of research and analysis. This involves regularly attending conferences, participating in webinars, and pursuing additional certifications to enhance my skill set. I played a crucial role in conducting market research and competitive analysis. I have a proven track record of distilling complex datasets into clear, concise reports that have guided key business initiatives. Collaborating closely with multidisciplinary teams, I contributed to the development of innovative solutions grounded in thorough research and analysis.
