India Display Market Overview, 2029

India Display Market Overview, 2029

In India, major demanders of the display market span across diverse sectors including telecommunications, consumer electronics, automotive, and healthcare. Telecommunications companies like Reliance Jio, Bharti Airtel, and Vodafone Idea drive significant demand for displays in smartphones, tablets, and telecommunications infrastructure. Consumer electronics giants such as Samsung, LG, and Xiaomi contribute to the demand for displays in televisions, monitors, and home appliances. Moreover, the automotive sector, represented by companies like Maruti Suzuki, Hyundai, and Tata Motors, utilizes displays in vehicle dashboards, infotainment systems, and rear-seat entertainment. Additionally, the healthcare industry relies on displays for medical imaging equipment, patient monitoring systems, and diagnostic devices, with companies like GE Healthcare, Siemens Healthineers, and Philips Healthcare playing a crucial role. In terms of innovations, India has been actively involved in the development of advanced display technologies. Notably, there have been significant advancements in the field of organic light-emitting diode (OLED) displays, with research and development efforts led by companies like Indian Oil Corporation, CSIR-National Chemical Laboratory, and IIT Kanpur. OLED displays offer superior image quality, energy efficiency, and flexibility compared to traditional liquid crystal displays (LCDs), driving their adoption in smartphones, televisions, and wearable devices. Moreover, India has been making strides in the development of flexible displays, with companies like Flexenable and Plastic Logic India contributing to research and development efforts in this area. Flexible displays offer opportunities for curved screens, rollable displays, and foldable devices, enhancing portability and user experience. Furthermore, India's commitment to research and innovation, supported by institutions like the Indian Institutes of Technology (IITs) and the Department of Science and Technology (DST), has led to breakthroughs in areas such as quantum dot displays, microLED displays, and transparent displays. The evolution of the display market in India has been characterized by a convergence of technology, affordability, and customization, resulting in the development of innovative display solutions tailored to the needs of Indian consumers and industries. This evolution is poised to continue as India's vibrant ecosystem of manufacturers, researchers, and policymakers collaborates to push the boundaries of display technology, enabling new applications, enhancing user experiences, and driving economic growth in India and beyond.

According to the research report ""India Display Market Overview, 2029,"" published by Bonafide Research, the India Display Market is expected to grow at more than 9% CAGR from 2024 to 2029. Several factors contribute to the growth of the display market in India, with a blend of technological innovation, consumer demand, and inter-industry influences shaping its trajectory. Firstly, India's rapidly growing population and expanding middle class drive demand for consumer electronics, particularly smartphones, televisions, and laptops, which are major drivers of the display market. The increasing penetration of internet connectivity and the proliferation of digital content further fuel demand for high-resolution displays, larger screen sizes, and immersive viewing experiences. Additionally, the government's initiatives such as ""Make in India"" and incentives for electronics manufacturing contribute to the growth of the display market by fostering a conducive environment for domestic production and investment in display manufacturing facilities. Secondly, the demand for displays is closely linked to the performance and expansion of other industries. For instance, the automotive sector's integration of advanced infotainment systems, digital instrument clusters, and heads-up displays (HUDs) in vehicles drives demand for displays, reflecting the growing importance of technology-driven features in enhancing driving experiences. Similarly, the healthcare industry's adoption of displays for medical imaging equipment, patient monitoring systems, and telemedicine services further stimulates market growth, driven by factors such as digitalization, healthcare infrastructure development, and increasing focus on wellness and preventive care. Moreover, the adoption of displays in sectors such as education, retail, and advertising creates new growth opportunities, driven by factors such as digital learning initiatives, the expansion of organized retail, and the need for effective marketing solutions. Overall, while technological innovation and consumer demand are primary drivers of growth in the Indian display market, the interplay with other industries and emerging technologies amplifies its impact, making it a crucial component of the country's economic and technological landscape.

The display market is segmented into five main categories, each further classified based on specific characteristics. Firstly, regarding Panel Size, it encompasses Microdisplays, suitable for compact devices such as smartwatches and augmented reality glasses, alongside Small & Medium-Sized panels catering to devices like smartphones, tablets, and laptops, and finally Large Panels, typically found in televisions and digital signage. Secondly, by Platform, iOS and Android lead the segment, indicating the dominant operating systems driving device usage. Thirdly, Display Type includes Flat Panel Displays, Flexible Panel Displays, and Transparent Panel Displays, each offering unique visual capabilities and applications. Fourthly, Display Technology encompasses LCD, OLED, MICRO-LED, Direct View LED, and others, reflecting the diverse technological advancements shaping display innovation. Lastly, by Application, the market spans across Smartphone and Tablet displays, Smart Wearables, Television and Digital Signage, PC and Laptop screens, Vehicle displays, and others, highlighting the extensive range of devices utilizing display technology. Furthermore, Industrial Verticals such as Consumer Electronics, Retail, BFSI, Healthcare, Automotive, Military and Defense, among others, represent the diverse sectors benefiting from display solutions, emphasizing the pervasive nature of display technology across various industries. Overall, these segmentation categories provide a comprehensive framework for understanding the intricate landscape of the display market, reflecting the diverse range of devices, technologies, and applications driving its growth and innovation.

The display market in India confronts several challenges, including intense global competition, rapid technological advancements necessitating continuous innovation, and economic uncertainties stemming from factors such as geopolitical tensions, regulatory complexities, and fluctuations in currency exchange rates. Additionally, there are concerns about intellectual property rights, cybersecurity threats, and infrastructure limitations that may hinder the growth of the display industry. Moreover, India's dependence on imports for key components and materials used in display manufacturing poses risks associated with supply chain disruptions and cost fluctuations. Furthermore, the COVID-19 pandemic has disrupted supply chains, halted manufacturing operations, and dampened consumer spending, posing additional challenges for the display market in India. Despite these challenges, the futuristic outlook of the market remains promising. India's strong emphasis on digitalization, coupled with its large and growing population, presents significant opportunities for the adoption of display technologies across various sectors, including consumer electronics, automotive, healthcare, and beyond. Investments in emerging technologies such as OLED, microLED, and quantum dot displays are expected to drive growth and unlock new opportunities for innovation and market expansion. Moreover, the government's initiatives such as ""Make in India"" and incentives for electronics manufacturing present opportunities for domestic production and investment in display manufacturing facilities, fostering growth and job creation. Additionally, the integration of displays with augmented reality (AR), virtual reality (VR), and artificial intelligence (AI) is anticipated to revolutionize user experiences and create novel applications in fields such as gaming, education, and retail. Overall, while the display market in India faces challenges, its future outlook remains optimistic, driven by a combination of technological innovation, government support, and the country's vast market potential.
 

Considered in this report
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Display market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Panel Size
• Micro displays
• Small & Medium-sized Panels
• Large Panels

By Display type
• Flat Panel Display
• flexible Panel Display
• Transparent Panel Display

By Display technology
• LCD
• OLED
• Micro-LED
• Direct-View LED
• Others

By Application
• Smartphone and Tablet
• Smart Wearable
• Television and Digital Signage
• PC and Laptop
• Vehicle Display
• Others

By Industrial Vertical
• Consumer Electronics
• Retail
• BFSI
• Health care
• Automotive
• Military and defence
• Others

The approach of the report:
This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Display industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.