
LONDON, Jan. 19, 2025 — Omdia’s “Industrial and Public Display & OEM Intelligence Service” projects 167.9 million industrial display panel units shipped in 2024, a 10.9% year-over-year increase. Smart home and office applications led the 12 industrial display application categories, accounting for 46% of shipments. Multi-function printers, a significant part of this segment, shipped 8.6 million units (under 3 inches) and 5 million units (3.1 to 7 inches), largely driven by AUO Display Plus.
While overall industrial display demand is anticipated to stabilize or slightly decrease due to inventory issues, strong growth in specific sectors will drive double-digit shipment increases. This includes 0.96-inch AMOLED panels for e-cigarettes and 8-inch LTPS panels for gaming consoles, with Truly a key player. Shipments are projected to reach 178 million units in 2025, a 6% year-over-year rise, fueled by a predicted recovery in factory automation and sustained strength in e-cigarettes and gaming consoles.
Major industrial display panel manufacturers (AUO Display Plus, BOE, Innolux, Tianma, and Truly) are expected to generate USD 2.1 billion in revenue in 2024, a 3.5% year-over-year decrease. However, this is forecast to rebound to USD 2.4 billion in 2025, a substantial 13.6% year-over-year increase.
From 2024 to 2025, industrial display supply chain participants will navigate diverse business models, balancing collaboration and competition to expand product lines and boost revenue. Panel makers like AUO Display Plus, BOE, and Truly are focusing on set and open frame businesses, anticipated to constitute 4.8% of total panel revenue in 2024.
Geopolitical uncertainties and tariffs in 2025 present challenges, leading to production shifts toward Southeast Asia and India. The transition is expected to be smooth due to pre-existing mass production capabilities in Southeast Asia by many participants, including touch panel suppliers, panel module houses, ODMs, and some industrial brands.
“The anticipated higher revenue growth in 2025 is driven by e-cigarettes, game consoles, and new applications like two-wheeled vehicles using a-Si display technology,” stated TzuHu Huang.
“These vehicles necessitate displays able to withstand direct sunlight and rain, demanding more rigorous specifications.”
Furthermore, mini LED backlit products, intended for slot machines, marine and professional medical displays, and drones, are slated for mass production, further contributing to revenue growth.
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