Email
Print
The Vietnam Display Market is projected to reach $8.67
Billion by 2027 growing at a CAGR of 7.3% between 2022-2027 driven by growing
demand for touch displays. In the last several years, the market for touch
screen displays has seen enormous technical improvements. From big,
space-consuming devices to tiny, bezel-less gadgets, display technologies have
evolved. They now have far higher resolutions, greater contrast ratios, and
require significantly less power than traditional display devices. Manufacturers
have launched goods with appealing appearances and high-end specs in order to
compete in this competitive market. Furthermore, because of the increased
demand for touchscreen display devices, the final price of various displays and
technologies has dropped dramatically. Because of the falling prices of
displays and touchscreen panels, touchscreen display items such as kiosks,
monitors, and signage solutions are in high demand. Increased panel size and
resolution have improved these displays' overall performance and provided a
better view. The demand for touch screen displays is anticipated to rise as a
result of these developments.
Firms have started concentrating more on delivering a
variety of extra functions in touchscreen devices as a result of rapid technical
improvements. To make traditional touchscreen display devices, such as kiosks,
signs displays, medical devices, and outdoor touchscreens, more user-friendly
and interactive, researchers affiliated with various firms work on
incorporating new technologies. Artificial intelligence (AI) is one such
technology that gives the touchscreen display industry a lot of room to
develop. AI-powered touch screens can easily convert data from one language to
another and can also get user-specific information. As a result, several
organisations are focusing on incorporating AI into touchscreen display devices
in order to see an increase in touch display device demand. In November
2020, Panasonic Corporation announced the commercialization of a 55-inch
transparent OLED display module that boasts high image visibility, with plans
to release it globally, starting from the Japanese and Asia-Oceania markets. In
November 2020, Sharp Imaging and Information Company of America (SIICA), a
division of Sharp Electronics Corporation (SEC), introduced the new 120"
class (diagonal) 8M-B120C 8K Ultra-HD Professional LCD display, designed to
convey unparalleled lifelike image detail and quality, for brighter, livelier
big-screen images. Such developments
further is anticipated to boost the
market growth during the forecast period 2022-2027..
The fast expansion of the display business has been
hastened by the introduction of new display technologies such as OLED displays,
microLED displays, and electronic paper displays (EPDs). A few organizations
that create and produce sophisticated display technologies, such as microLED
and OLED displays, including Samsung Electronics (South Korea), LG Electronics
(South Korea), and Sharp (Japan). The demand for standalone displays has been
driven by the development of a direct-view fine-pixel pitch large format LED
display that delivers bright images with ultra-high-definition (UHD)
resolution, as well as other benefits such as improved stability, higher
flexibility, greater energy efficiency, and enhanced durability. With the
rising complexity of online advertising, as well as the high cost of ad
blockers, marketing and advertising firms are seeking for alternate solutions
that would allow them to display their ads or messages. This creates a profitable
potential for the standalone format display market, which can enhance
adoption throughout the projected period.
With booming growth of consumer electronics industry as well as rise in production base shifting out of China, Southeast Asian countries like Vietnam have faced a major benefit overtime. Owing to this, various leading global consumer electronics manufacturers have already started either expanding their production facilities or investing into establishment of new ones, as a part of meeting growing demands in the Vietnamese markets. According to the 2020 report from Taiwan based thinktank, South East Asia region is predicted to capture about half of the global notebook personal computers production in 2030, with Vietnam and Thailand emerging as the main manufacturing hubs. This indicates the need to expand manufacturing facilities or increase the annual production capacity of the existing ones within Vietnam, thereby impacting the market growth of display solutions.
In January 2021, the
Vietnamese Government had awarded a license to one of the leading electronics
manufacturer, named Foxconn Technology, in order to build a US$270 million
plant within northern province of Bac Ninh, Vietnam. Establishment of this
facility was meant to support the production of consumer products like laptops
as well as tablets, with an aim of meeting annual output of eight million
units. In September 2021, Samsung
Electronics had revealed about the expansion of production capacity of foldable
devices within its Vietnam plant, with the project targeted to be in full
operation by end of 2021 or early next year. Through this, Samsung’s display
unit will be increasing its annual production capacity of foldables by 47
percent from 17 million to 25 million, as a part of its aim to annually produce
about 10 million units of Z Fold models as well as 15 million units of Z Flip
models.
The Major
Players in this Market Include
Major players in Heating Equipment Market include Samsung, LG, Sony,
Panasonic, Sharp, Toshiba and Innolux among others. In July 2021,
one of the largest electricity companies operating in Vietnam, Ho Chi Minh
Electricity Corporation (EVN HCM) had revealed about upgradation of its
LCD video wall through replacing it with a high-quality screen dnp Supernova
Infinity. This move was a part of adding better visualization to the daily
video conference meetings, while making it a cost-effective alternative to
large LED screen projection displays.