Nation plays bigger role in new display industry

Nation plays bigger role in new display industry

According to industry experts, China is now a major driver of the global development of semiconductor display technologies. These technologies have enormous application potential in many fields, including vehicle-mounted displays, wearable gadgets and culture, education and healthcare.

A report by market research firm CCID Consulting shows that China’s display industry generated over 580 billion yuan ($83.2 Billion) in 2021. This represents 36.9% of the global market for display.

The annual display panel production capacity in the country has reached 200,000,000 square meters. This is a first-class ranking globally. It has helped to promote the use of smartphones, tablets, and laptops as display devices.

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China’s display industry is also experiencing rapid growth. The compound annual growth rate reached 25.8 percent between 2012 and 2021.

The new display industry includes micro/mini light emitting diodes and organic light-emitting displays (OLED). Experts said that the new technologies offer significant improvements over traditional liquid crystal displays in terms of image contrast and brightness, as well as a wider color spectrum. This will accelerate the advancement of the display industry.

Vice-minister of industry, information technology Wang Jiangping stressed the importance of using new display technologies to boost economic growth and support enterprises to expand their application in vehicle-mounted devices and smart homes.

Wang spoke at the 2022 World Conference on Display Industry (November 30 to December 1, in Chengdu), capital of Sichuan province.

Nation plays bigger role in new display industry

Wang said that more efforts are required to increase the resilience of industrial and supply chains, develop core technologies for the new display industry, and consolidate enterprises’ leading role in technological innovation.

Liu Wenqiang is the deputy head of CCID Consulting. He said that the new display industry serves as the terminal of the information age and a key area of the digital economy. It is a fundamental, forward-looking, and strategic industry.

Liu stated that China is the world’s largest manufacturing base for panels and a major research, development, and application area. He also said that China has been an important driver in the growth of the global display market. Liu added that display technology has enabled many fields such as digital cultural innovation, consumer electronics, and digital healthcare.

Flexible OLED technology is relatively new and one of the most recent developments in the display industry. Visionox Technology Inc, a Chinese supplier of display panels, has launched a range of medium-sized products that include tablets, laptops, and vehicle-mounted displays.

Xu Fengying is Visionox’s vice-president and chief operating officer. He stated that the number of folding phones with OLED display screens will exceed 100 million by 2028. This represents a compound annual growth rate of 34 percent.

China will surpass South Korea as the largest OLED producer by 2024 because more Chinese companies are investing heavily in OLED production lines. Zhou Hua, chief analysts at CINNO Research (a Chinese flat panel display consultancy), said that China is now the leading OLED producer.

Sigmaintell Consulting, a Beijing market research firm, revealed that global shipments for flexible OLED panels will reach 405 millions units by 2022. China display manufacturers account for around 36 percent of this market share.

The consultancy’s statistics showed that worldwide shipments of foldable phones rose 171.9 percent annually to approximately 7.21 million units by 2021. This figure is expected to rise to 14.4 million units this fiscal year, an increase of 99.6 percent over the previous year.

Li Yaqin is the general manager at Sigmaintell. He stated that demand for flexible OLED panels in foldable smartphones will rise due to 5G commercial applications. Panel makers should also improve their yield rates and lower production costs.

Li stated that OLED technology will contribute between 60 and 70 percent to the total sales revenue by 2024.


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