Omdia: Flat Panel Display Demand to Rebound in 2023

(Image credit: LG)

LONDON—Omdia's latest Display long-term demand forecast tracker indicates that the demand for flat panel displays for TVs and other devices will grow by 6.2% year-on-year (YoY) in 2023 after slumping to below normal levels in 2022. 

Display demand in 2022  fell by 6.9% year over year, making 2022 the first year in the history of the flat panel display industry in which area demand recorded negative growth, the researchers said. 

Panels for TVs account for about 80% of the demand, Omdia said.

Omdia expects that softened inflation and slowing interest rate hikes mean that the plummeting demand for flat panel displays has bottomed out, however. That will help the industry rebound to more normal levels of demand by the second half of 2023.

Ricky Park, senior principal analyst in Omdia's Display research practice noted that there are signs that global inflation has slowed and the economy is bottoming out. "Panel prices and retail prices that have fallen for more than a year can stimulate consumer sentiment, especially the recovery speed of demand for ultra-large sized TVs, which have seen a sharp decline in prices,” he said. “This will lead to a fast recovery in area demand."

Omdia expects OLED TV displays will increase its market share by improving image quality and reducing price. The over-70-inch TV market is expected to grow by more than 15% from 18 million units in 2022 to 21 million units in 2023. They are expected to exceed 20% of the total TV display market in 2023 for the first time. 

TV display takes around 80% of the total flat panel display market and TV display demand recovery influences total flat display area demand forecast, the researcher said. 

(Image credit: Omdia)
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George Winslow is the senior content producer for TV Tech. He has written about the television, media and technology industries for nearly 30 years for such publications as Broadcasting & Cable, Multichannel News and TV Tech. Over the years, he has edited a number of magazines, including Multichannel News International and World Screen, and moderated panels at such major industry events as NAB and MIP TV. He has published two books and dozens of encyclopedia articles on such subjects as the media, New York City history and economics.