Group 1 - The global flat panel display market is expected to grow by 11% year-on-year in 2024, driven by various product categories, with televisions and tablets contributing the most to the growth [1] - Television panel revenue is projected to increase by 19% in 2024, primarily due to rising demand in the large-size segment, which also improves the overall average selling price [1] - The smartphone remains the largest application area for flat panel displays in 2024, but its growth is expected to be flat, aligning with downstream shipment trends [1] Group 2 - The display and PC panel revenue is anticipated to achieve double-digit growth in 2024 after hitting a low at the end of 2023, with future growth expected to maintain mid-single-digit levels [4] - The AR/VR panel revenue is declining due to a drop in device shipments, but growth is expected to resume in the next couple of years, particularly with the integration of AI technologies [4] - The automotive sector is becoming a significant growth driver for panel revenue, with increasing demand for larger and more precise displays in cockpit infotainment systems [4]

Core Insights - The global flat panel display market is expected to grow by 11% year-on-year in 2024, driven by strong performance across various product categories, particularly televisions and tablets [2][3] - The automotive sector is anticipated to become a significant growth driver in the future, with high single-digit to low double-digit revenue growth rates expected [3][7] Market Performance - In 2024, television panel revenue is projected to increase by 19%, primarily due to rising demand in the large-size segment, which also improves the overall average selling price [2] - Smartphone panel revenue is expected to remain flat, aligning with downstream shipment trends, and is projected to decline in the long term [2][3] Product Insights - The iPad 13 Pro series utilizing OLED panels is contributing to a recovery in tablet revenue, returning to pre-pandemic levels [2] - The flat panel display market is entering a product-driven growth phase, with expectations for a new cycle around 2027 when foldable devices from Apple are anticipated to enter the market [2] Sector Analysis - Monitor and PC panel revenues are expected to achieve double-digit growth in 2024 after hitting a low at the end of 2023, with future growth projected to stabilize at mid-single-digit levels [5] - The AR/VR panel market is facing a downturn due to declining device shipments, but growth is expected to resume in the next couple of years, particularly with the integration of AI technologies [7] Automotive Sector - The automotive display market is highlighted as a key growth area, with increasing demand for larger and more sophisticated displays driving revenue growth [7][9] - The evolution of in-cabin infotainment systems is becoming a competitive battleground for automakers, especially among Chinese manufacturers [9]