Global shipments of small- to medium-size TFT LCD panels will be steady in a five-year forecast period to reach 1.82 billion units in 2025, after seeing an on-year fall of 19.7% to 1.81 billion units in 2020 amid the coronavirus pandemic, according to Digitimes Research.
Demand for handset panels, currently the largest application segment for small- to medium-size LCD displays, is expected to stage a rebound in 2021.
Digitimes Research forecasts that global handset panel shipments will grow by a CAGR of 3.1% from 2020 to 2025, with those for smartphone applications expanding at a higher CAGR of 5.9%.
However, the penetration of AMOLED in smartphone applications is set to reach 40% by 2023, giving LCD handset panels a CAGR of -0.8% during the five-year period, Digitimes Research estimates.
The rise of IoT applications in industrial control, automotive, smart speakers and household appliances will make related IoT applications a growth driver for small- to medium-size LCD panels starting 2022. Digitimes Research estimates shipments of small- to medium-size LCD panels for IoT applications to grow by a CAGR of 6.1% in 2020-2025.