The Thin Film Transistor (TFT) Liquid Crystal Display (LCD) Market is being driven by Growing popularity of digital signage applications
The Thin Film Transistor (TFT) Liquid Crystal Display (LCD) Market is expected to grow at a CAGR of 5.3% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 48 million. The global TFT LCD market witnesses continuous innovation from key vendors, with new product launches aimed at expanding market share and geographical reach. Notably, Samsung unveiled plans for an 89-inch microLED TV in late 2023, marking their first MicroLED TV to incorporate an LTPS TFT glass substrate instead of a printed circuit board. In contrast, BOE Technology introduced a 95-inch OLED screen boasting an impressive 8K resolution and 120 Hz refresh rate in May 2022. These advancements underscore the industry's commitment to delivering superior display technologies.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
207 |
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Base year |
2024 |
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Historic period |
2019-2023 |
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Forecast period |
2025-2029 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.3% |
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Market growth 2025-2029 |
USD 48 million |
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Market structure |
market_structure.ucfirst |
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YoY growth 2024-2025(%) |
5.0 |
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Key countries |
US, China, Japan, Germany, South Korea, Canada, UK, France, Brazil, and Saudi Arabia |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Find out which segment is leading the market by accessing the free PDF report
The Thin Film Transistor (TFT) Liquid Crystal Display (LCD) market encompasses various consumer electronic goods, including mobile phones, handheld video games, projectors, computer monitors, television screens, navigation systems, personal digital assistants, and more. TFT technology, a key component of LCDs, enables high-resolution displays for these devices. LCDs using TFT technology are also utilized in flat panel displays for computers, televisions, and smartphones. Additionally, TFT LCDs find applications in robotics, flexible electronics, medical science, microelectronic devices, X-ray detection, biochemical sensing, and chemical sensing. With their low power consumption, fast response time, and high refresh rate, TFT LCDs offer significant advantages over traditional display technologies. Organic TFT technology is another advanced development in this field, offering even greater potential for future applications.
The global electronics market encompasses a vast array of industries, including communications equipment, technology hardware storage and peripherals, electronic equipment and instruments, electronic components, consumer electronics, industrial electronics products, and electronic manufacturing services. Among these sectors, the electronic components segment holds significant importance, with manufacturers producing connectors, electron tubes, capacitors and resistors, inductors, printed circuit boards (PCB), transformers, and lighting products. According to Technavio's market analysis, the global electronic components market size is determined by the revenue generated from the sales of associated ICT and electronics products, equipment, and components. The market's expansion will be fueled by the increasing demand for Internet of Things (IoT) devices, which are witnessing widespread deployment across various industries.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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