Global TFT LCD Panel Market Expected to Reach USD 256.3 Billion by 2033 - IMARC Group

December 24, 2024 | Technology & Media

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Global TFT LCD Panel Market Statistics, Outlook and Regional Analysis 2025-2033

The global TFT LCD panel market size was valued at USD 179.9 Billion in 2024, and it is expected to reach USD 256.3 Billion by 2033, exhibiting a growth rate (CAGR) of 3.98% from 2025 to 2033.

TFT LCD Panel Market

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The increasing number of smartphone users is one of the major factors propelling the market growth. For instance, according to Statista, between 2024 and 2029, the number of smartphone users across the nations is expected to increase by 1.8 billion i.e., nearly 42%. This smartphone user base is anticipated to surpass 6 billion in 2029. Smartphones rely on TFT LCD panels to deliver high-resolution, vibrant displays with excellent brightness and energy efficiency. As global smartphone adoption continues to surge owing to the rising internet penetration, the demand for advanced display technologies grows. Moreover, manufacturers are meeting consumer expectations for sleek designs and enhanced visual experiences by integrating innovative TFT LCD features.

Moreover, the escalating sale of automotive vehicles is one of the prominent factors adding to the market demand. For instance, according to the Society of Automobile Manufacturers, passenger vehicle sales climbed from nearly 30,60,000 to about 38,90,000 units. In FY-2022-23, sales of passenger cars rose from approximately 14,67,000 to 17,47,376, utility vehicles from 14,89,219 to nearly 20,03,500, and vans from 1,13,000 to about 1,39,000 units, compared to the previous year. The advanced vehicles are equipped with advanced display technologies for navigation and infotainment systems, this further relies on TFT LCD panels for their enhanced resolution, durability, and visibility under various lighting conditions. For instance, in October 2024, KTM introduced new TFT touchscreens to improve the human-machine interface (HMI) experience. This upgrade includes a revised connectivity system. The new V80 and H88 screens use advanced touchscreen technology, allowing riders to operate them with or without gloves. They also have bonded screen technology, which includes anti-reflex, anti-fingerprint, and anti-glare coatings for better user interface visibility from all angles. The new TFT displays support 256,000 colors.

Global TFT LCD Panel Market Statistics, By Region

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America. According to the report, North America dominated the overall market owing to the expanding aerospace sector. There is an escalating need to display altitude information, navigational data, warning messages, etc., which is propelling the usage of these panels across the region.

North America TFT LCD Panel Market Trends:

North America acquires the largest share. The growing technological advancements in automotive display like digital dashboards are driving the propelling the region's growth. Moreover, the rising demand for electric vehicles across the U.S. also contributing to the market demand. For instance, according to Statista, in United States, more than 1 million electric vehicles were sold in 2023.

Europe TFT LCD Panel Market Trends:

There has been a significant increase in the number of people watching television in Europe. For instance, in 2023, more than 70% of Europeans aged 15 and older watched TV regularly. Also, in 2022, nearly 63% of people streamed TV in the EU. This surge is propelling the demand for large television screens, further contributing to the TFT LCD panel market growth in Europe.

Asia Pacific TFT LCD Panel Market Trends:

The increasing penetration of smartphones in countries like China, India, and Japan due to the rising disposable income is driving the demand for TFT LCD panels. For instance, the number of smartphone users in India is expected to surpass 1.50 billion by 2040. TFT displays are less expensive, which makes them an ideal option for smartphones, thereby accelerating the market growth.

Latin America TFT LCD Panel Market Trends:

The rising demand for low-cost smartphones and televisions in Latin America is driving the industry demand. Additionally, the growing middle class and digital initiatives in Brazil and Mexico are also adding to the market growth. Besides this, budget-friendly devices with TFT LCD screens align with regional demands.

Middle East and Africa TFT LCD Panel Market Trends:

The region is seeing an increase in TFT LCD usage in retail and advertising displays. As countries like the UAE and South Africa develop smart cities and digital signage, the need for high-resolution TFT LCD panels rises. These displays improve customer experiences in malls and public spaces.

Top Companies Leading in the TFT LCD Panel Industry

Some of the leading TFT LCD panel market companies include LG Electronics Inc., Samsung Electronics Co., Ltd, Innolux Corporation, AU Optronics Corp., and Sharp Corporation, among many others. For instance, in September 2024, Samsung Electronics Co., Ltd. organized the Samsung Developer Conference Korea 2024, a virtual event that showcased the company's newest software developments.

Global TFT LCD Panel Market Segmentation Coverage

On the basis of the size, the market has been bifurcated into large size TFT-LCD display panel and medium and small size TFT-LCD display panel, wherein large size TFT-LCD panel dominated the overall market on account of escalating demand for larger televisions.
Based on the technology, the market is categorized into 8th generation and other generations, amongst which 8th generation represented the largest segment as it has better color accuracy.
On the basis of the application, the market has been divided into television, mobile phones, mobile PCs, monitors, automotive, and others. Among these, television dominated the overall industry. The surging demand for large television screens is adding to the segment’s dominance.

Report Features	Details
Market Size in 2024	USD 179.9 Billion
Market Forecast in 2033	USD 256.3 Billion
Market Growth Rate 2025-2033	3.98%
Units	Million Units, Billion USD
Segment Coverage	Size, Technology, Application, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered	LG Electronics Inc., Samsung Electronics Co., Ltd, Innolux Corporation, AU Optronics Corp. and Sharp Corporation
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Browse IMARC Related Reports on TFT LCD Panel Market:

North America TFT LCD Panel Market Report

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Global TFT LCD Panel Market Expected to Reach USD 256.3 Billion by 2033 - IMARC Group

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