Omdia: The demand for displays is expected to rebound in 2023, with an expected year-on-year growth of 6.2%

On November 14, it was reported that, according to the latest tracking data of Omdia, the demand for monitors in 2023 would increase by 6.2% year-on-year. As inflation weakens and the pace of interest rate increase slows down, the sharp drop in demand has reached the bottom, and demand is expected to normalize in 2023.

Omdia predicts that the market demand for monitors in 2022 will be lower than normal. Due to the energy crisis caused by the impact of the COVID-19, global inflation, supply chain disruption and the increase in raw material costs, user demand shrank even more, down 6.9% year on year.

IT Home has learned that 2022 will be the first year in the history of flat panel display field where there will be negative demand growth.

According to Omdia analyst Ricky Park, "the price of flat panel displays and retail prices have dropped for more than a year. Considering the soaring consumer sentiment, especially the rapid recovery of the demand for oversized televisions, the price of these televisions has dropped significantly. This will lead to the rapid recovery of industrial demand."

It is reported that the major display panel manufacturers are currently large-scale producing various TV size products above 70 inches to seize the super large size TV market, and minimize production costs by optimizing process efficiency. It is expected that OLED TV will increase its market share by improving image quality and reducing prices.

Omdia predicts that the TV market with more than 70 inches will grow from 18 million in 2022 to 21 million in 2023, with a growth rate of more than 15%. It is predicted that the above products will exceed 20% of the whole TV display market for the first time in 2023.