Have you ever imagined how display technology has progressed over the last few years? Display technology is one of the fastest-growing and advancing industries in the world.
Regularly, new and improved features are being added for better functionality of these display screens. There are several types of display screens in the market today, all for seemingly similar purposes.
These include CRT (Cathode Ray tube), LCD (Liquid Crystal Display), LED (Liquid Emitting Diode), OLED (Organic Light Emitting Diode), and Plasma Monitor, of which LCD is one of the most prominent.
This article will give an insight into the market and growth analysis of stretched TFT LCD displays as well as their functional areas.
Stretched TFT LCD Display, also known as bar-type LCD Display is a display technology that finds its usage in strip TFT LCD screens. You may be thinking, “What does TFT mean?” TFT means Thin Film Transistor.
This brings us to the concept that Stretched TFT LCD Display is a form of liquid crystal display (LCD) with improved quality of color and visuals as a result of the attachment of each pixel to a film transistor.
This ultimately results in clear visuals even in a very bright environment. The usage is not limited to any particular sector. They can be used in Transport systems, televisions, phones and laptops, gaming devices, and cameras, among several others.
They also broadly find their usage in audio systems, security equipment, and medical and industrial equipment.
In the year 2020, the industry and global market value of TFT LCD displays were estimated at 164 billion US dollars.
Complemented by its high demand in the automotive industry, it is expected that the market will have a compound annual growth rate (CAGR) of 5.2% between the years 2021 and 2026, hitting the mark of 223 billion US Dollars in the year 2026.
As a result of the speedy developments and industrialization in countries across Asia, Europe, and North America, there has been expanding and consistent demand by automotive industries for use in cars, buses, trains, airplanes, and so on.
This has greatly positively impacted the market demand for stretched TFT LCD Displays.
Their increased usage by consumers is a result of the low power utilization, stretched and well-packed size, and attractive beneficial features which are ultimately one of the key drivers for the worldwide stretched TFT LCD market.
The Major players that influence the global growth of the TFT LCD market include the following companies; LG Electronics Inc., Samsung Electronics Co. Ltd, Sharp Corporation, AU Optronics Corp., and Innolux Corporation.
Certainly, the importance of stretched TFT LCD displays in today’s world cannot be underestimated. It can be used for most functions involving a display. No wonder why there has been a consistent growth in its market value.
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