The interconnects and passive components market is expected to grow at a CAGR of 4.41% from 2016 and reach USD 187.55 Billion by 2022. The base year used for study is 2016 and the forecast period is between 2017 and 2022.

Seattle, WA -- (SBWire) -- 04/10/2017 --According to the new research report, the display market is expected to grow to USD 169.17 Billion by 2022, from USD 106.41 Billion in 2015, at a CAGR of 7.5% between 2016 and 2022. The high growth of the flexible panel market, rising demand for OLED-based devices, and development of energy-efficient, attractive, and high specification display products are expected to be the major drivers for the market.

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This report covers the market in terms of technology, display type, vertical, application, and geography. Consumer electronics led the display market in terms of market share in 2015, with the trend likely to continue till 2022.

The high acceptance rate of newer technologies in consumer electronics (such as smartphone, tablet, TV, PC monitor, laptop, and smart wearables), which are always in high demand, is the main reason for its largest market share in the market. Education and hospitality are expected to grow at the highest rate in the display market during the forecast period, as technologies such as OLED, e-paper, and LED-backlit LCD have a wide range of applications for these verticals.

Consumer electronics includes devices such as TVs, smartphones, tablets, laptops, PC Monitors, and smart wearables. These applications account for a significant share of the market and, in turn, the consumer electronics industry. Rising demand for attractive and high specification display products is the main driver for the growth of the consumer electronics vertical and its high market share.

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Quantum dot-based devices are new to the display market and account for a very small market share, but due to the promising technological advantages over OLED and LED-backlit LCD, it is expected to grow at the highest rate. The market penetration of QD-LED technology is expected to be high for TVs and digital signage applications.

North America, comprising the U.S., Canada, and Mexico, held the largest share of the display market in 2015. The U.S. is a major contributor to the growth of the market in North America. The growth of the market in North America can be attributed to the fast adoption of latest technologies such as QD-LED and OLED in the consumer electronics domain, especially in the U.S. Due to the large population in economies, such as Japan, South Korea, China, and India, coupled with the thriving consumer electronics and retail sectors, there are immense opportunities for panel manufactures in the APAC region.

Major players in the market are LG Display Co., Ltd. (South Korea), Samsung Electronics Co., Ltd. (South Korea), AU Optronics Corp. (Taiwan), Innolux Corp. (Taiwan), Japan Display Inc., (Japan), Sharp Corp. (Japan), BOE Technology Group Co. (China), Hannstar Display Corp. (Taiwan), Varitronix International Limited (Hong Kong), TCL Display Technology Holdings Limited (Hong Kong), Universal Display Corp. (U.S.), and E Ink Holdings Inc. (Taiwan).

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