The Smartphone Display Panel Market is expected to grow by a CAGR rate of 5.37% in the forecasted time period. During the financial year 2021, the smartphone display panel market stood at approximately 1.58 billion units with OLED display panels witnessing faster growth rate. In terms of vendor market share, Samsung held the prominent share with close to half of the market share, and was followed by BOE, and LG Display. With the significant rise in replacement demand driven by 5G models is expected to propel the market.
Key HighlightsThe Smartphone Display Panel Market is highly concentrated, with a few players like Samsung Display, BOE, and LG Display dominating a major portion of the market. The high technology, Research & development, and high initial development cost in construction and machinery make the market difficult for other vendors to penetrate.
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