Omdia believes that high-end displays and OLED displays are expected to grow further in 2024.
Omdia recently released the "display panel and OEM market tracking report". Data show that in 2023, OLED displayFreeroulettenodownloadShipments increased sharply, surging 415% year-on-year. Omdia predicts that growth will continue, with industry leaders SamsungDisplay and LGDisplay driving OLED panel shipments in 2024 to grow by 123% year-on-year to 1.84 million units. In addition, the trend of multi-screen interaction is driving growing consumer demand for higher-specification displays, including high resolution and high refresh rates. In view of the product management cycle and the three-year after-sales service period of the display product, Omdia expects the product to gradually enter the replacement cycle starting in 2024.
The market downturns of 2022 and 2023 pose a major challenge to display supply chain participants. Display brands have been committed to reducing inventory through a variety of supply chain operations, and the industry is entering a period of recovery. After two years of trough, the overall display market is expected to recover slowly by 2024, including the commercial market and the consumer market. This also provides a development opportunity for the market expansion of OLED display products.
With the growing consumer demand for higher-specification displays and the gradual increase in display size, it is expected that the price of LCD display panels will rise, which will narrow the price difference between LCD displays and OLED displays, and indirectly make OLED technology more popular. In addition, leading display brands such as Dell,HP,Lenovo,Samsung,LG Electronics,AOC/Philips,Asus,Acer,MSI and Gigabyte are adding more and more OLED displays to their 2024 product lineup. From a supply chain point of view, this trend helps to reduce the cost of machine and panel enterprises. Panel companies share the cost by increasing the output of OLED displays, thus reducing costs. For the OEM company of OLED display, the production cost can be reduced because several OLED display brand customers share the mold cost.
