Small Size Panel Display Market By Technology (AMOLED, TFT-LCD, LTPS (Low-Temperature Polysilicon) LCD, MicroLED); By Application (Smartphones, Wearable Devices, Automotive Displays, AR/VR Devices, IoT Devices); By End-User (Consumer Electronics, Automotive, Healthcare, Industrial); By Geography (Segment revenue estimation, Forecast, 2024–2032).

As of 2023, the global small-size panel display market was USD 46.5 billion, and it is expected to reach USD 85.2 billion in the forecast period of 2024-2030 with a CAGR of 9.1%. This growth is driven by various display technologies like AMOLED, LTPS, TFT-LCD, etc., and the ever-rising need for high-quality display screens in small form factors across multiple applications.

 

The Small-Size Panel Display Market includes display sizes less than 10 inches, generally incorporated into smart mobile devices, tablet PCs, wearable devices, automotive displays, and portable electronics. These displays are important in providing high resolution, decent power consumption, and touch solutions in compact devices. This market is important because it is among the key necessities for the rapidly growing consumer electronics and automotive industries.

 

Market Drivers

The proliferation of Smartphones and Wearable Devices: The penetration of smartphones and wearable devices has also played a major role in increasing the pull for small format displays. In 2023, 1.3 billion Smartphones were shipped globally, most of which came with OLED and LTPS LCD panels. Example: Apple Watches in the year 2023 utilized small panels in OLED to enhance its functionality, which led to the enhancement of 25% in sales of wearable devices.

 

Emerging Demand in Automotive Applications: Automotive quickly integrates small displays for instrumental clusters, infotainment systems, and rearview mirrors. As the trend of connected cars and smart dashboards grows fast, the requirement for high resolution is on the rise. As of 2023, Tesla pointed out that its efficiency grew by 40% regarding customer satisfaction connected to the displays’ simplicity.

 

Technological Advancements in Display Technologies: Technological advancements like AMOLED and Micro LED have significantly impacted the efficiency and reliability of miniaturized screens. Such innovations have made adoption focal in high-end smartphones, gaming devices, and AR/VR headsets. Example: The Samsung Galaxy Z Fold 5 was released in 2023 with foldable AMOLED small-sized touch types with improved flexibility and superior color accuracy. This innovation has resulted in an increase in sales of foldable smartphones across the world by about 30%.

 

Market Opportunities

Rising Adoption of AR/VR Devices: The overall market for AR/VR is heavily growing, presenting the large potential for small-size panel displays to deliver high-definition images and engage customers. MicroLEDs that will go into future AR/VR headsets require small-sized displays with high brightness and efficiency, both of which are easily provided by MicroLED technology. Example: In June 2023, Meta launched the Quest Pro VR headset to include small-sized displays, which achieved a considerably higher field of view of 50% and higher image quality.

 

Growth in IoT Devices: As new corners of the Internet of Things market shift, including smart homes, industrial applications, and health care, there is an increasing need for compact displays. IoT devices have limited space for data display and input interfaces whose demand is met by these tiny panels. Example: In 2023, Xiaomi released several smart home products that incorporated the TFT LCD small-sized displays to present real-time data, enabling Xiaomi to gain 20% of the market share in the smart home segment.

 

Emerging Markets in Asia-Pacific: Asia-Pacific is growing drastically due to countries like India and China, which have new requirements for digital accessories, smartphones, and cars. Regional producers are starting to focus on small-size diagonal displays to address this ever-expanding segment. Example: In 2023, India saw the smartphone AMOLED Small-size shipment increase by 35%, triggered by Xiaomi and Realme budget devices.

 

Market Restraints

High Manufacturing Costs of Advanced Technologies: Manufacturing some modern display technologies, such as AMOLED and Micro LED, can be costly, meaning that they are costly for such applications of low margins. This reduces their usage in economical handsets like smart budget smartphones and IoT systems. Example: AMOLED panel is the most popular in the high-end smartphone market, but the application of the technology in mid-tier devices is limited by a 30–40% increase in material costs compared to LCDs.

 

Supply Chain Disruptions: Small-size panel displays are a relatively specialized field that depends on a multifaceted international supply chain for materials and parts. Example: A global chip shortage impacted the availability of small-sized TFT-LCD panels, especially in 2022, and this caused a delay in product roll-out schedules among some popular consumer electronics brands.

 

Market Segmentation

By Technology

• AMOLED

• TFT-LCD

• LTPS (Low-Temperature Polysilicon) LCD

• MicroLED

 

By Application

• Smartphones

• Wearable Devices

• Automotive Displays

• AR/VR Devices

• IoT Devices

 

By End-User

• Consumer Electronics

• Automotive

• Healthcare

• Industrial

 

By Region

• North America

• Europe

• Asia-Pacific

• Latin America

• Middle East & Africa

 

Segment Analysis

Leading Technology: AMOLED Displays

In 2023, AMOLED screens captured 43% of the market revenue due to their high colour contrast ratio, response rate, and energy consumption. They control most premium mobile consumers and linked devices such as smartphones and watches. Example: Industry sources estimate that Samsung Display shipped 350 million AMOLED Panels in 2023 and emerged as a market leader.

 

Leading Application: Smartphones

In 2023, the smartphone segment accounted for 60% of overall market revenue. The trend of bezel-less products and high resolutions has increased demand for superior small-sized panels in this segment. For example, the iPhone 15 series, released in 2023, came with LTPO AMOLED small-sized screens, setting records in the display industry.

 

Regional Analysis

In 2023, Asia-Pacific was the largest consumer electronics market, accounting for a 45% market share due to high production, availability of a large market base, and manufacturers such as BOE Technology and LG Display, among others. Example: Small-sized display companies highlighted in the AV compound included BOE Technology and Visionox, while in 2023, China contributed to 50% of the global small-sized display production.

 

North America was the largest region in the global market in 2023, with a 25% consumption share owing to higher demand for smartphones, wearable devices, and automotive displays.  Example: In the U.S., given the high demand for quality AMOLED small-sized displays in its products, the region generated 35% of its revenue in 2023.

 

Key Players

• Samsung Display Co., Ltd.

• LG Display Co., Ltd.

• BOE Technology Group Co., Ltd.

• Sharp Corporation

• Japan Display Inc.

• AU Optronics Corp.

• Tianma Microelectronics Co., Ltd.

• Innolux Corporation

• Visionox

• E Ink Holdings Inc.

 

Future Outlook

The Small-Size Panel Display Market is forecast to show high growth due to the use of technologies in displays, growth in IoT gadgets, and demand for displays in new markets. New technologies will include cost-effective production methods, the use of environmentally friendly materials, and the application of innovations, such as flexibility and transparency.

 

Based on the analysis, small-sized panel displays are believed to maintain the largest share of consumer electronics and automotive applications in 2030 with their advanced features from artificial intelligence and 5G integration. The market is expected to further increase competition as new entrants introduce applications and related solutions.