TechTarget(US:TTGT) Prnewswireยท2025-01-19 23:06Core Insights - Industrial display panel shipments are projected to reach 167.9 million units in 2024, reflecting a significant 10.9% year-over-year growth [1] - The smart home and office application segments lead with a 46% shipment share, with multi-function printers contributing 22% of this share [1] - In 2025, shipments are expected to rise to 178 million units, indicating a 6% year-over-year growth [2] Industry Performance - Revenue for major industrial display panel makers is estimated at USD 2.1 billion for 2024, a slight decline of 3.5% year-over-year, but expected to rebound to USD 2.4 billion in 2025, marking a robust 13.6% growth [3] - Specific sectors such as 0.96-inch AMOLED panels for e-cigarettes and 8-inch LTPS gaming consoles are driving double-digit shipment growth [2] Supply Chain Dynamics - Industrial display supply chain participants are balancing cooperation and competition, with panel makers increasing efforts in set and open frame businesses, projected to account for 4.8% of total panel revenue in 2024 [4] - Geopolitical risks and tariff impacts are prompting a shift in production to Southeast Asia and India, with many participants already establishing mass production in these regions [5] Future Trends - Higher revenue growth is anticipated in 2025, driven by e-cigarettes, gaming consoles, and new applications such as two-wheeled vehicles requiring stringent display specifications [6] - Mini LEDs backlight products are expected to enter mass production, further boosting revenue across various sectors [6]