Global Smartphone Displays Market to Reach US$96.3 Billion by 2030

The global market for Smartphone Displays estimated at US$68.0 Billion in the year 2023, is expected to reach US$96.3 Billion by 2030, growing at a CAGR of 5.1% over the analysis period 2023-2030. OLED, one of the segments analyzed in the report, is expected to record a 5.6% CAGR and reach US$40.5 Billion by the end of the analysis period. Growth in the LCD segment is estimated at 4.5% CAGR over the analysis period.

The U.S. Market is Estimated at US$18.1 Billion While China is Forecast to Grow at 9.0% CAGR

The Smartphone Displays market in the U.S. is estimated at US$18.1 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$22.6 Billion by the year 2030 trailing a CAGR of 9.0% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.9% and 5.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.3% CAGR.

Global Smartphone Displays Market - Key Trends and Drivers Summarized

Smartphone Displays: What’s Powering the Evolution of Mobile Screens?

The smartphone display market is a dynamic and rapidly evolving sector, driven by advancements in display technologies and the increasing consumer demand for enhanced visual experiences. Smartphone displays are available in various types, including LCD (Liquid Crystal Display), OLED (Organic Light Emitting Diode), AMOLED (Active Matrix Organic Light Emitting Diode), and the emerging MicroLED technologies. The market is witnessing a shift towards OLED and AMOLED displays, which offer superior color accuracy, contrast ratios, and energy efficiency compared to traditional LCDs. Segmentation within the smartphone display market also includes high-refresh-rate displays (90Hz, 120Hz, and 144Hz), foldable displays, and bezel-less screens, each designed to cater to different user experiences, from gaming to multimedia consumption. As smartphone manufacturers continue to innovate, the demand for high-resolution, durable, and energy-efficient displays is on the rise.

How Are Technological Advancements Shaping the Display Market?

Technological advancements are significantly shaping the smartphone display market by enhancing performance, durability, and user experience. The development of high-refresh-rate displays is transforming the gaming and multimedia experience on smartphones, offering smoother visuals and reduced motion blur, which are essential for competitive gaming and video streaming. Innovations in foldable and flexible display technologies are redefining smartphone design, allowing manufacturers to introduce new form factors that combine the benefits of a smartphone and a tablet. The integration of in-display fingerprint sensors and under-display cameras is driving the trend of bezel-less screens, providing a seamless and immersive viewing experience without compromising security features. Additionally, advancements in screen materials, such as Corning Gorilla Glass and sapphire glass, are enhancing screen durability and scratch resistance, addressing consumer concerns about screen damage. These technological trends are propelling the growth of the smartphone display market across various segments.

What Market Trends Are Influencing the Adoption of Advanced Smartphone Displays?

Several market trends are influencing the adoption of advanced smartphone displays, reflecting the growing consumer demand for better visual experiences and innovative smartphone designs. The increasing popularity of bezel-less and edge-to-edge displays is driving manufacturers to adopt curved and waterfall screen designs that maximize screen real estate. The shift towards foldable smartphones is creating a new segment within the display market, requiring flexible and durable displays that can withstand repeated folding and unfolding. The rising emphasis on energy efficiency and sustainability is pushing manufacturers to develop low-power displays that extend battery life without compromising on brightness or color quality. The expansion of 5G networks is also supporting the demand for high-quality displays that can handle high-definition streaming, gaming, and video calls with minimal latency. These trends are reshaping the smartphone display market, promoting continuous innovation and diversification.

What Drives the Growth in the Smartphone Displays Market?

The growth in the smartphone displays market is driven by several factors, including advancements in display technologies, increasing consumer demand for high-quality visuals, and the rising adoption of innovative smartphone designs. The development of OLED and AMOLED displays with high refresh rates and low power consumption is driving their adoption in premium and mid-range smartphones. The trend of foldable smartphones is creating new opportunities for flexible and durable display solutions. The integration of in-display biometric sensors and the push towards bezel-less screens are enhancing the appeal of advanced displays. Moreover, the expansion of gaming smartphones and the growing focus on energy efficiency and sustainability are further supporting market growth. The increasing collaboration between display manufacturers, smartphone OEMs, and material suppliers is also fostering innovation, driving the growth of the smartphone displays market.