Thin Film Transistors Market Size is forecast to reach $10.2 billion by 2026, at a CAGR of 10.26% during 2021-2026. The Thin Film Transistors are produced by depositing a dielectric layer and semiconductor layer over non-conducting, glass substrates and used in a flat panel displays. These thin film transistor display are used widely in flat-panel displays, television screens, computer monitors, mobile phones, projectors and personal digital assistants as these are field effect transistors used in a liquid crystal display. A thin film transistor is also known as active matrix display technology which is more responsive to change due to which it has several benefits such as compact size, low price, reduced weight, and low power consumption and so used in the Light Emitting Diode (LEDs) as well. Thin Film transistors uses capacitive coupling that provides a medium for the ac signals while blocking the dc energy. The Thin Film Transistors enables the pixels to change state rapidly, making them turn on and off much more quickly as it acts as individual switches. The continuous innovation in technology along with the rising disposable incomes and change in preference of consumers towards high definition picture quality has increased the demand for global thin film transistor displays.
Thin Film Transistors Market Segment Analysis - By Technology
Organic Light Emitting Diode (OLED) segment held significant market share of 38.25% in 2020, owing to its high demand for advanced high definition monitors and televisions from consumers. Although, OLEDs are expensive as compared to LED and LCD product but are highly adopted by the end users. They offer wide viewing angles, faster response time, higher contrast ratios and more saturated colors to enhance viewing experience of end users. In 2019, Xiaomi incorporated OLED display by announcing the launch of its product Mi 10 and Mi 10 proto ensure flexible and image efficient display feature for its devices. In addition, increase in demand for smart watches, fitness trackers, and mobile healthcare devices in the forecast period 2020-2026.
Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=509482
Report Price: $ 5900 (Single User License)
Thin Film Transistors Market Segment Analysis - By Application
Smartphones & Tablets is expected to witness a highest CAGR of 11.28% during the forecast period. In the recent years, the consumers are increasingly concerned about long term growth in personnel wealth. This factor is resulting in low density living and increasing volume and demand for consumer electronics as the consumers are using smart phones, television, personal computer. According to Intelligence Node, the number of smartphone users in United States crossed 260 million in April 2020, and smartphone shipments reached $161 million in 2019. In addition, growth of laptops, tablets and other electronic gadgets largely for business needs, work from home scenario, online classes, and gaming sectors are accelerating the market growth. Hence these factors are analyzed to drive the Thin Film Transistors Market Size in the forecast period 2021-2026.
Thin Film Transistors Market Segment Analysis - By Geography
APAC region is dominating Thick Film Devices Market growth. This region held significant market share of 31.55% in 2020. Asia-Pacific is one of the most significant regions for the thin film transistors market, mainly due to government policies favoring the growth of semiconductor manufacturing. Also, the region is the largest producer of consumer electronics leading to the surge in smartphones, laptops uses. In 2020, the Chinese government raised around $23-30 billion to pay for the second phase of its National IC Investment Fund. The expansion of the consumer electronics industry throughout the region and the rising adoption of display technology among various industries are bolstering the demand for thin film transistors in the region. China is home to three of the top five largest smartphone companies worldwide, posing tremendous opportunities for the thin film transistors market. According to India Electronics and Semiconductor Association, the semiconductor component market in the country is expected to be worth $32.3 billion by 2025. The report states that the country is a lucrative destination for global R&D centers. Thus, the governments ongoing Make in India initiative is expected to result in investments in the Electronics and semiconductor industry in the country, further providing ample opportunities for the Thin Film Transistors market.
Thin Film Transistors Market Drivers
Growth of the Automotive Sectors:
Ongoing developments in automotive sector and favorable government policies and support in terms of subsidies and grants have driven the demand for thin film transistors as the TFT screens are intersection of liquid crystal displays and semiconductor manufacturing. In Automotive sector the TFTs are replacing the gauges and screen to get the needed information enabling easier viewing. Major manufacturers such as General Motors, Toyota, and BMW plan to release a potential of 400 models of cars and estimated global sales of 25 million by 2025. In 2021, Ford Motor has committed to increase its investments of $30 billion by 2025, up from a previous spend of $22 billion by 2023. Similarly, in 2020, Volkswagen, Chinese ventures has committed to invest $17.5 billion by 2025. As Thin film transistors are used in-vehicle infoinment progress and also in advanced driver assistance. Hence these investments are analyzed to drive the Thin Film Transistors industry in the forecast period 2021-2026.
Growth of the consumer electronics such as tablets, smartphones, laptops and others:
Thin film transistors are primarily used in LCD displays in the laptops, tablets, smartphones and others as these flat panel display provides high quality, larger display size and high resolution. Japan has been facing high market growth towards consumer electronics products in 2019, thus making it the third largest industry contributing towards its economy. Technological advancements towards advance display technology including the LCD, LED and others are set to drive innovations in the field of consumer products have caused major players in the country to invest towards developing smart devices. Such growing advancements are expected to boost the market demands towards Thin Film Transistors market. Moreover, in 2019 Japan stood as the third largest economy in the world crediting to $4.97 trillion. The major industries accounting for the nation’s economy are automotive, electronics and Heathcare. In addition, the International Monetary Fund estimates the GDP growth forecast for Japan to be in the range of 1-1.5%, hence these capacity expansion are analysed to drive the Thin Film industry outlook in the forecast period 2021-2026.
Inquiry Before Buying @ https://www.industryarc.com/reports/request-quote?id=509482
Thin Film Transistors Market Challenges
Decrease in Sales of Desktop PC
Challenges impacting the Thin Film transistor Market are the sales of Consumer PC have witnessed worst slumps in volume sales globally. Several Countries such as U.S, China, Germany, UK, and others have experienced the worst decline in volume sales of Desktop PCs. According to Mint, Worldwide PC shipments totaled 51.6 million units in the first quarter of 2020, a 12.3% decline from the first quarter of 2019, after three consecutive quarters of growth, the worldwide PC market experienced its sharpest decline since 2013 due to the COVID-19 outbreak. These kind of declining trend will negatively affect the growth of the Thin Film Transistor as it widely used in desktops, smartphones and others display screens. The decline in the volume shipments of personal computers due to the growing adoption of convertible laptops, smartphones and tablets in the enterprises, coupled with the adoption of policies such as Bring-Your-Own-Device (BYOD) is also set to negatively impact the adoption of desktop PCs in the small, medium as well as large enterprises. This is low demand of the products is set to negatively impact the procurement of Thin Film Transistor during the forecast period 2021-2026.
Thin Film Transistor Market Landscape
Product launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Thin Film Transistor Market. Thin Film Transistor top 10 companies include Panasonic Corporation, Samsung Electronics Co. Ltd, Fujitsu Ltd., BOE Technology, Toshiba Corporation, Winstar Display Co. Ltd., Innolux Corporation, Sharp Corporation, LG Display Co. ltd., Sony Corporation among others.
Acquisitions/Product Launches
In June 2021, Panasonic Corporation planned to auction its 8.5 Himeji Plant located in Hyogo Japan. Through this auction the company is planning to provide equipment that comprises approximately 1,000 pieces of production machinery, with the number of auction items totaling 9,000, including apparatuses that can be used by non-semiconductor and non-LCD panel manufacturers.
In September 2020, Toshiba launched Smart TV range in India which is a 4K TV series. This range of 4K TV series are enhancing the growth of the market.
Key Takeaways
Asia-Pacific is one of the most significant regions for the thin film transistor market, mainly due to government policies favoring the growth of wearable devices. Also, the region is the largest producer of consumer electronics.
Consumer Electronics sector is expected to witness a highest CAGR of 11.28% the forecast period, owing to various factors such as increase in sales of smart phones, laptops, tablets and others in countries such as India, China and so on.
Thin Film Transistor companies are strengthening their position through mergers & acquisitions and continuously investing in research and development (R&D) activities to come up with solutions to cater to the changing requirements of customers.
Related Reports
A.High and Medium Passive Components Market
https://www.industryarc.com/Report/15633/high-medium-power-passive-components-market.html
B.High Electron Mobility Transistor Market
https://www.industryarc.com/Report/19294/high-electron-mobility-transistor-market.html
For more Electronics Market reports, please click here
